Westpac NZ And Fidelity Life Launch New Digital Guide To Make Life Insurance Easier

Westpac NZ and Fidelity Life have launched a new LifeProtect Guide online tool to help New Zealanders save time and better understand what’s important to them when applying for life and income protection insurance.

Westpac customers can access the LifeProtect Guide securely through the Westpac One app. After answering simple questions about their income, lifestyle, employment, and personal priorities, they’ll receive tailored recommendations on the types and levels of cover that best suit their circumstances. They can then adjust cover levels to see how changes affect their premiums.

“We know New Zealanders can be uncomfortable talking about protecting their income and life,” says Sarah Hearn, Westpac NZ GM Product, Sustainability and Marketing.

“The LifeProtect Guide helps you to easily navigate that process – either with one of our bankers or from the comfort of your own home. The tool is intuitive and secure, giving people the confidence to make informed decisions about protecting what’s important to them.”

The modular nature of the LifeProtect product, underwritten by Fidelity Life, allows customers to choose any combination of Life Insurance; Trauma Cover; Income Protection and Permanent Disability insurance.

Bronwyn Kirwan, Fidelity Life’s Chief Commercial Officer, says the LifeProtect product and guide have been designed to make the process of thinking about and applying for life and income protection insurance as easy as possible.

“Recent Financial Services Council research* indicates that four out of five New Zealanders haven’t insured their income against sickness or disability. The LifeProtect Guide is intended to make it easier for customers to work out what’s right for them when it comes to protecting the things that are most important,” Ms Kirwan says.

“The guide also allows them to determine what level of cover they’re comfortable with then move straight into an online application process, with no need to repeat any of the information already provided.”

While almost all New Zealanders insure their cars, for most people, losing their income for a period of time would have a far greater impact on their goals and lifestyle.

“We don’t like to think about accidents or illnesses impacting us or those close to us, but the reality is these things can happen. So planning for the future, including how you’d manage if the unthinkable were to happen, is really important,” Ms Hearn says.

Westpac’s new LifeProtect advertising campaign contrasts how much people are insuring their homes, cars and possessions for with their comparative lack of life or income protection insurance.

“We want to kickstart those conversations or thought processes about how you’re prioritising what’s important to you,” Ms Hearn says.

*Financial Services Council Money & You research

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