Disclosure Statement

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Licence status and conditions

Kiwi Life Assurance Services Limited (FSP745191) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice.

Nature and scope of the financial advice given

Kiwi Life Assurance Services Limited provides advice to our clients about their life and health insurances.

We will analyse your insurance needs and help you choose cover that is suitable for your purpose. We have access to a range of insurers. Once we have chosen an insurer, and types and amounts of cover that are suitable to you, we will help you to obtain acceptance.

We are able to provide financial advice from the following insurers providers:

For personal risk Insurance

AIA, Asteron, Cigna, Fidelity Life, Partners Life, NIB.

For Health Insurances

Partners Life, AIA, NIB

For Kiwisaver

Booster

Travel Insurance

Southern Cross

The types of financial products we can help you with include the following:

Life Insurance
Trauma Insurance /Critical illness cover
Total and Permanent Disability insurance
Mortgage Repayment Cover
Redundancy Cover
Medical / Health Insurance
Income Protection Insurance
Business Protection Cover
Key Person Insurance Cover
Household Expenses Cover
Funeral cover
Travel Insurance
Kiwisaver

Our Duties

Kiwi Life Assurance Services Limited and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests
exercise care, diligence, and skill in providing you with advice
meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services
meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services. These include duties to treat you fairly, act with integrity, give financial advice that is suitable, and take reasonable steps to ensure you understand the financial advice we provide and protect any financial information we hold about you.

Fees and Expenses

Kiwi Life Assurance Services Limited does not usually charge fees or expenses for providing financial advice to its clients.

Kiwi Life Assurance Services Limited may charge a fee for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception. Detailed information about the Commission Earnings & Service Charges will be provided to you when you receive financial advice from us.

Commissions and incentives

Kiwi Life Assurance Services Limited receives upfront as well as on going commissions from the relevant insurance providers if you choose to take up our advice and a policy is put in force. The amount of the commission is based on the amount of the premium.

Conflicts of interest

Kiwi Life Assurance Services manage the conflicts of interest arising from these commission payments by:

Following an advice process that ensures I understand your needs and goals so that I always recommend the best product for you regardless of the type and amount of commission I will receive.
Ensuring the amount of any insurance cover is in accordance with your identified needs.
Undertaking regular training on how to manage conflicts of interest.

Kiwi Life Assurance Services is subject to a yearly audit and compliance reviews to ensure we meet our obligations while doing right by our clients.

Complaints

If you are not satisfied with our service you can make a complaint through the following methods:

By email [email protected]
By posting a letter at 2B Sheriff Pl, Randwick Park, Auckland 2105
By contacting us directly on 022 0793842 or 09 277 7983

Once we receive a complaint, we follow an internal procedure to ensure we address the issue. Our process will:

Inform you how we will address the complaint
Gather any information that will help us resolve the complaint
Aim to resolve the complaint within 10 working days.
If we cannot resolve the complaint within this timeframe, we will update you regarding next steps

If you are not satisfied with how we addressed or resolved your complaint, you can contact the Insurance & Financial Services Ombudsman. They are an independent dispute resolution service that costs you nothing to use, and will help us resolve any disagreements or finalise outstanding complaints.

Their contact details are:

PO Box: 10-845, Wellington 6143, New Zealand

Phone: 0800 888 202 or 04 499 7612.

Email: [email protected].