Cigna NZ, AIA NZ offer premium waivers for Gabrielle-impacted customers
Cigna NZ premium waiver
In a message to financial advisers, Cigna New Zealand CEO Gail Costa offered the company’s support for Gabrielle-battered customers, as well as those affected by late January’s Auckland floods. To help these people out in these distressing times, eligible customers can get a two-month waiver of premiums.
To qualify for the support, the customer’s primary residence must have received a yellow or red sticker, or they’re currently receiving government financial support for accommodation because their home is uninhabitable. There is no maximum premium limit and the offer is available to all customers who meet the criteria for the insurer’s Assurance Extra policies.
The two-month waiver is an addition to the other built-in benefits of the company’s Assurance Extra policies. As for customers who are currently facing financial hardships, the Suspension of Cover feature can be used for up to six months. This feature means that eligible customers don’t need to make any payments during those six months. That said, there will be no cover during the suspension period or for future claims that may arise during that time. Coverage will only return once the suspension period is over.
Customers who hold Premium Cover, including Cigna NZ’s business products, can have their premiums paid for up to six months if they are made redundant or declared bankrupt. Customers claiming Premium Cover are still covered under the rest of the policy.
Costa also touted the Clients Benefits program to assist customers, with mental health counselling included up to a value of $1,000 per annum at no additional cost. Financial advisers looking to apply on behalf of their customers can contact their respective business partnership managers.
AIA NZ premium waiver
AIA NZ is offering a one-month insurance premium waiver, available to all eligible customers within severely affected areas.
“The pictures and stories coming in from the communities impacted by Cyclone Gabrielle have been devastating to see and hear. Our thoughts are with the people who have been affected,” AIA NZ chief distribution officer Sharron Botica said. “Thank you also to those financial advisers who continue to work hard to support their customers dealing with the aftermath of these events.”
According to Botica, customers who live or work in Northland, Auckland, Hawkes Bay, Tairāwhiti Gisborne, Waikato, Bay of Plenty, Wellington or Manawatu-Wanganui, and have suffered serious damage to either their home or business from Gabrielle, are eligible for the premium waiver. Affected customers will also remain covered and can still make claims during this relief period.
Impacted policy owners holding risk or health products are also entitled to the one-month premium waiver regardless of their payment frequency. Eligible customers will only need to provide evidence of house, contents, vehicle, or business insurance claim lodged as a result of Gabrielle, including photographic evidence of the damage or evidence of displacement following the weather event.
Customers eligible for the premium waiver can contact their respective financial advisers, the AIA Adviser Relationship Team, or the AIA Customer team.
AA Insurance also announced that their teams will be on the ground in Hawke’s Bay for the rest of the week to support Gabrielle-affected customers.
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