For some time Sovereign has been concerned about the level of under insurance within New Zealand. Over the past few years personal debt levels, and therefore the need for adequate cover, have significantly increased but sales of insurance have remained relatively flat. This situation is likely to get worse with the current recession, where affordability not only impacts on people’s ability to purchase insurance, but also causes them to reconsider the need for the cover they already have.
Today Sovereign announced a new initiative to help customers afford appropriate levels of new insurance.
From 21 April, and until 31 July 2009, Sovereign will provide new customers who take out Rate for Age Life Cover an additional 20% of the sum assured free of charge for two years. This is up to a maximum additional amount of $100,000 sum assured per customer, not per policy. For example, if the customer were to set up a TotalCareMax policy with $500,000 Life Cover, they would receive an extra $100,000 sum assured free for two years. At the expiry of the two year period the additional 20% sum assured Life Cover will automatically end.
This special offer is automatically available on all TotalCareMax Personal and Business Life Rate for Age policies (including Voluntary Workplace policies) issued by Sovereign on or after 21 April 2009, until 31 July 2009.
Existing customers who make increases to their Life Cover will also benefit from the offer, but the increased amount will be set up as a separate policy. Replacement business is excluded from the offer.
Use Thorners online application process on the web page or contact us very soon to apply for your new life cover today and benefit from the 20% extra cover while the offer lasts.