Southern Cross expanding into life insurance
Southern Cross is expanding into life insurance
Not-for-profit health insurer Southern Cross is launching into the life insurance business.
It’s a natural extension for a Kiwi institution with a significant track record in looking after people says Head of Product and Marketing Chris Watney.
“Southern Cross has been looking after the health of New Zealanders for over 55 years. We believe people will feel confident buying life insurance from an organisation and a brand they know and trust.”
Southern Cross Life Insurance is backed by specialist life insurer Cigna, and will complement Southern Cross’ range of insurance products which includes day-to-day, basic surgical and more comprehensive health insurance plans, as well as critical illness cover, travel insurance and pet insurance.
Watney believes there is a natural synergy between health insurance and life cover.
“Like health insurance, people purchase life insurance at important junctures in their life - it might be when they get a student loan, start a family, buy a home or get married.
“This is something our members have been asking of us for some time and we think the combination of both life and health products under one brand will make sense to people.”
Southern Cross Life Insurance will provide cover of up to $1 million and be available for purchase online from tomorrow.
Watney says, “We have chosen to focus on selling our life insurance online because in this busy world, people increasingly use the internet to compare and purchase insurance products. However we also have a team just a phone call away should customers want to talk to someone.”
Customers in good health will be eligible for a 10% healthy living discount. An additional discount of 10% will be available to Southern Cross Health Society members.