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Aon to offer clients free wills, and more daily news

Aon has partnered with Footprint to offer current and new clients with corporate life insurance policies the option to have their wills drawn up free of cost. This partnership is designed to save clients estate admin fees and increase the number of full-time employees with wills in New Zealand.

“Aon is the first company in the sector to provide and cover the cost of Wills to all existing and new clients with a corporate life insurance policy through employee benefits – and already, several group insurers are engaged, with more to come. This industry-first move will see Aon provide security and education for all aspects of life insurance and end of life planning, saving people on average $5,000 in estate administration fees in instances where a life insurance policy has no Will attached to it.

Footprint chief executive Angela Vale says, “The data tells us New Zealanders are consistently under-Willed, especially in certain age groups. Only 37% of full-time employed people in New Zealand have a valid Will."”

Anson Davies, Aon Life general manager has said that the insurer has worked to understand what clients are looking for, while Geoff Blampied, Aon CEO stated that the industry has responded positively. Geoff continued by saying that the initiative could potentially reach 70,000 policyholders in the first phase.

“Aon Life general manager Anson Davies says, “We have done extensive due diligence to ascertain what our clients are looking for and what their employees value, and we are pleased to be launching this offer through our partnership with Footprint and in collaboration with key partners in the insurance industry”.

 

This is further supported by Aon NZ chief executive Geoff Blampied who says, “We are excited that the industry is responding positively to the initiative, which has the potential to reach around 70,000 Kiwi policyholders in the first phase.” Click here to read

In other news:

Asteron Life: Covid-19 support extended until 31 October 2020 for customers facing financial hardship

Asteron Life: MedScreen is currently not operating in Auckland while visits outside of Auckland will continue 

Nib: nib member support package has been extended to the end of September.

Financial Advice: Update on the Privacy Act webinar

What does ‘treat fairly’ mean in new conduct law?

 

 

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