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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scoop
13 hours ago
- Scoop
Westpac NZ Cuts Key Home Loan Rates
Press Release – Westpac With record numbers of home loans currently rolling off fixed rates, these changes show we are committed to offering compelling rates to benefit existing customers and attract new ones, Westpac NZ General Manager of Product, Sustainability and … Westpac NZ is reducing its 6-month and 1-year home loan rates, giving it joint or outright leading advertised rates on most terms among the five largest banks. Westpac NZ General Manager of Product, Sustainability and Marketing, Sarah Hearn, says the changes will give customers the confidence that they can get competitive home loan rates across both short and long terms at Westpac. 'We're working hard to provide customers a range of great home loan rates that will provide value and meet the needs of those wishing to fix their loans across a range of different terms,' Ms Hearn says. Westpac's new 6-month 5.29% p.a. and 1-year 4.89% p.a. advertised special rates, effective Friday 13 June, are the joint lowest advertised rates available from the five main banks (based on advertised rates as at 3pm today). The bank's new 4.99% p.a. advertised special 3-year rate remains the outright lowest among the five main banks, while its advertised special 4-year and 5-year terms are joint or outright lowest at 5.39% p.a (based on advertised rates as at 3pm today). 'With record numbers of home loans currently rolling off fixed rates, these changes show we are committed to offering compelling rates to benefit existing customers and attract new ones,' Ms Hearn says. 'We're also committed to offering customers a great experience and making it as easy as we can for them to fix their loans. New functionality in our Westpac One app that allows eligible customers to move from a floating rate to a fixed rate is proving very popular.' Although Westpac is also trimming some term investment rates, it is supporting savers by retaining leading and joint leading rates across a range of terms (based on advertised rates as at 3pm today). Fixed Home Loan rates – Special (effective June 13 2025) Term New Rate Change 6 months 5.29% p.a. -0.20% 1 year 4.89% p.a. -0.06% 18 months 4.95% p.a. No Change 2 years 4.95% p.a. No Change 3 years 4.99% p.a. +0.04% 4 years 5.39% p.a. No Change 5 years 5.39% p.a. No Change Fixed Home Loan rates – Standard (effective June 13 2025) Term New Rate Change 6 months 5.89% p.a. -0.20% 1 year 5.49% p.a. -0.06% 18 months 5.55% p.a. No Change 2 years 5.55% p.a. No Change 3 years 5.59% p.a. +0.04% 4 years 5.99% p.a. No Change 5 years 5.99% p.a. No Change Interest rates are subject to change without notice. Westpac NZ's lending and eligibility criteria, and terms and conditions apply. A low equity margin may apply. For more information please go to Term Deposit & Term PIE rates (effective June 13 2025) Term Interest Frequency New Rate Change 30 days At Maturity 2.20% p.a. No change 60 days At Maturity 2.55% p.a. No change 90 days At Maturity 3.55% p.a. -0.05% 4 months At Maturity 3.50% p.a. -0.05% 5 months At Maturity 3.75% p.a. -0.05% 6 months At Maturity, Monthly or Compounding 3.90% p.a. No change 8 months At Maturity, Monthly or Compounding 3.90% p.a. -0.10% 9 months At Maturity, Monthly or Compounding 3.85% p.a. -0.05% 12 months At Maturity, Monthly or Compounding 3.80% p.a. No change 18 months At Maturity, Monthly or Compounding 3.90% p.a. No change 2 years At Maturity, Monthly or Compounding 4.00% p.a. No change 3 years At Maturity, Monthly or Compounding 4.10% p.a. No change 4 years At Maturity, Monthly or Compounding 4.10% p.a. No change 5 years At Maturity, Monthly or Compounding 4.10% p.a. No change Rates are subject to change without notice. Minimum $5,000 deposit. Rates are available for Retail and Business Banking customers holding up to $5,000,000 total deposits, either solely or jointly with Westpac NZ (including PIE investments). For rates applicable to amounts in excess of $5,000,000, please contact us. Rates are not available to Financial Institutions. Other T&Cs apply, see for details and a copy of the relevant Term Sheet. Compounding interest: For terms six months or longer, interest can be compounded quarterly. Investments made in the Westpac Term PIE Fund ('Fund') do not represent bank deposits or liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited ('Westpac NZ') or any other member of the Westpac group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, Trustees Executors Limited (as trustee), or any director or nominee of any of those entities guarantees the Fund's performance, returns or repayment of capital.
Scoop
13 hours ago
- Scoop
BARNZ Welcomes The Tourism Growth Roadmap – Agrees We've Got Work To Do To Rebuild Tourism
BARNZ welcomes the opportunity to work with government and industry to make sure New Zealand is a great choice for visitors and for the airlines who connect New Zealand to the world for travel and trade. Auckland, 12 June 2025 – The Board of Airline Representatives of New Zealand (BARNZ) welcomes announcement of the Tourism Growth Roadmap by Minister of Tourism Louise Upston. 'It's great to see New Zealand setting a clear aspiration for tourism growth,' says Cath O'Brien, Executive Director of BARNZ. 'Tourism has long supported our economic growth as a nation. We need to work hard to make sure that New Zealand is a great choice for visitors, and for the airlines that bring them here. 'New Zealand has not yet recovered 2019 visitor numbers. Looking at our traditional busy summer season, air capacity to the New Zealand market grew by just 0.5% between New Zealand summer 2023 and 2024. Airlines are now finalising network plans for New Zealand summer 2025/26, and it's fair to say we still aren't seeing strong growth for international air services. We need to work as hard as we can to change this – for the economic health and prosperity of New Zealand and New Zealanders.' BARNZ welcomes the opportunity to work with government and industry to make sure New Zealand is a great choice for visitors and for the airlines who connect New Zealand to the world for travel and trade. 'Airlines operating to New Zealand are often operating at extremes of aircraft limits in making journey here,' says O'Brien. 'We need to make sure that our aviation system is open for business 24/7. One of the practical improvements we could make is to ensure Airways is able to provide air traffic control at New Zealand's long haul alternate RNZAF Ohakea at night. At present, Ohakea doesn't have air traffic control coverage around the clock. Without air traffic control at Ohakea, airlines have to carry huge amounts of extra jet fuel for services here – which might mean they can't sell all their seats in an effort to reduce weight. These sorts of limitations make flights to New Zealand a real commercial challenge. The rising cost for airlines to connect to New Zealand also needs to be considered. 'Between rising charges for the Auckland Airport rebuild, and increasing government levies for things like CAA, costs for airlines flying to New Zealand is rising like never before.' While the Commerce Commission has encouraged reduced increases in Auckland Airport charges this year and next, costs associated with Auckland Airport's Master Plan create further burden. 'It all adds up. Part of the solution for tourism growth is better aviation system cost control. At present airports, CAA, Airways and border agencies all increase costs one at a time – there's no oversight of the total cost for airlines flying here. We need to know what it costs airlines to fly here – and what the impact of further cost increases will be. The global tourism industry is a dynamic business. New Zealand needs to compete with the world to attract visitors – and we need to make sure we do this as well as we can. BARNZ welcomes the aspiration set out in the Tourism Growth Roadmap – BARNZ and its members are up for the recovery challenge.
1News
15 hours ago
- 1News
Kāinga Ora to use wool carpet in new state homes
Kāinga Ora has announced it will use wool carpet in new state homes from July, following a directive that government agencies use wool in the construction and refurbishment of their buildings. The change in procurement rules, to make wool the preferred option in government buildings, was a directive to about 130 agencies in April and takes effect from July. On Wednesday, the state housing provider announced it would follow suit, with 4500 new state houses expected to be fitted out in the next three years. The return of wool carpets to state homes was welcomed by Economic Growth Minister Nicola Willis and Associate Agriculture Minister Mark Patterson at Fieldays the same day. "The decision is great news for sheep farmers, and all the New Zealanders whose jobs and incomes are tied to the fortunes of our world-leading wool industry," Willis said. ADVERTISEMENT The morning's headlines in 90 seconds including passengers stuck on ferry overnight, new flights to Sydney coming, and the weirdest things we leave in Ubers. (Source: 1News) She said the Government wanted wool producers to have more opportunities to supply woollen products to the construction industry "wherever practical and appropriate". "Kāinga Ora's new supplier agreement was made possible because the agency chose to re-open an initially nylon-only carpet tender and give wool a chance to compete. "I'm told woollen carpet manufacturers responded very strongly to that opportunity and that the new carpet supply agreements come with no additional cost." The new procurement requirements covered government-owned buildings that cost $9 million or more, and refurbishments of more than $100,000. A spokesperson said the total value of the Kāinga Ora contract was commercially sensitive and couldn't be disclosed. Nicola Willis speaks to media at Parliament on May 6. (Source: 1News) ADVERTISEMENT They said some contracts for carpet in homes had already been let, but under the new supply agreement newly contracted fit-outs would be met through the wool-carpet supply contract. Where nylon carpet had already been installed in existing homes Kāinga Ora would continue to use nylon carpet for single room or smaller patch repairs. Willis said the message was clear. "When wool was put back on the table it more than held its own, delivering value for taxpayers and a win for sheep farmers." She said the new policy directed government agencies to identify opportunities to use woollen products, and to properly consider a range of factors in procurement including whole-of-life cost, sustainability and health benefits. "We're leveraging government spending to back the wool industry and the New Zealand economy. I hope private businesses will follow our lead." A new Kāinga Ora home in Richmond, August 2023. Photo: RNZ / Samantha Gee (Source: ADVERTISEMENT She previously said natural qualities allowed wool to dampen sound and absorb pollutants, while woollen fibres contributed to healthier indoor environments by naturally regulating humidity and improving air quality. Patterson said the move continued to deliver on a New Zealand First and National Party coalition agreement to prefer woollen fibres in government buildings. "Woollen fibres create safer, healthier and more sustainable living environments for families." He said the sector contributed $549m to the economy in the financial year ending 2024 from exporting processed and unprocessed wool products. "The Government is determined to help lift the fortunes of the strong wool sector in supporting our sheep farmers."
