2 April 2012
Sovereign announces free life insurance for new parents
Sovereign is offering free life insurance to new parents in New Zealand.
In a New Zealand first, Sovereign's free life insurance will cover both parents to the value of $10,000 each for their
baby's first year. Parents can register online for their automatic cover in a matter of minutes, with no lengthy forms
to fill out.
“There's so much to think about when you become a new parent,” says Sovereign general manager marketing and product,
David Drillien “but most people overlook one of the most powerful means to protect their precious new life – by insuring
their own lives. And there are few more important times in your life to have life insurance than when you have a young
“Our ‘Choose precious’ campaign is designed to demonstrate that getting life insurance doesn't have to be complicated or
morbid – it's a simple way to give you the security to live your life with the confidence of knowing you have a
financial safety net.
“We acknowledge that $10,000 will not cover all of a family's outgoings, but it's a start. By international standards
New Zealanders are seriously underinsured, and we hope this initiative will draw attention to the valuable and positive
role insurance can play in the community.”
Parents can register at chooseprecious.co.nz
for their free life insurance from the time of their baby's birth. They must sign up while the child is still under six
months of age.
Parents can choose to upgrade at anytime to a paid insurance policy with more comprehensive cover, subject to
Sovereign’s standard underwriting process. Otherwise, once the insurance expires on the child's first birthday, parents
can choose, at that time, to continue with paid insurance, but there is no obligation to do so.
Sovereign Assurance Company Limited (Sovereign) is New Zealand’s largest life insurer; protecting the lives of more than
600,000 people through the provision of personal insurances (such as life, income protection, disablement and trauma and
major medical health policies) and employer sponsored compulsory and voluntary workplace schemes.
Sovereign’s financial strength is rated A+ (Superior) by A.M. Best. Sovereign is part of the ASB group of companies,
which is in turn part of the Commonwealth Bank of Australia group.