You can decrease your insurance at any time. Should you wish to do so you must advise Financial Advice New Zealand of your desired decrease in insurance.
Premiums can be paid either annually or monthly and will form part of your normal invoice already in place with Financial Advice New Zealand.
You may apply to increase your insurance subject to acceptance by AIA New Zealand.
Should you wish to increase your insurance you will be required to submit health evidence. Mercer Marsh Benefits™ will supply you with any forms required and will facilitate your application.
You can cancel your insurance at any time. If you wish to do so you must advise Financial Advice New Zealand with written confirmation to cancel your insurance.
Under the plan you are entitled to continue your insurance should you leave Financial Advice New Zealand. This option allows you to transfer your current death benefit (not Total and Permanent Disablement) from the Financial Advice New Zealand Group policy to an individual policy with only minimal health evidence requirements.
This option must be taken up within 45 days of your ceasing membership. To assist in your application for the continuation option, Mercer Marsh Benefits™ has developed a continuation option form.
This form can be obtained directly from Mercer Marsh Benefits™. Age and occupation constraints may apply.
In the event of a possible claim, Financial Advice New Zealand should be contacted in the first instance. Financial Advice New Zealand will approach MMB who has significant claims experience and will provide expert advice and assist in all aspects of the claim process.
AIA New Zealand Limited is the policy's insurer for these benefits.
In the event of your death Financial Advice New Zealand will contact Mercer Marsh Benefits™ to initiate the claims process.
If you want to join after the 30-day window of opportunity then you must complete a Personal Statement (health evidence).
If you are requiring cover above the Automatic Acceptance Level of $600,000 then you must complete a Personal Statement (health evidence). AIA New Zealand may request further medical evidence before you are assessed for your desired level of insurance.
Medical information is required so that AIA New Zealand can properly ascertain the liabilities they are insuring at the premium rates set for the product.
When AIA New Zealand medically assesses an individual, pre-existing conditions of health may be excluded or an additional premium may be charged or insurance may even be declined.
The medical evidence required will depend on your age and the level of benefit you require. The most common forms of additional medical evidence requested by AIA New Zealand are blood tests and a medical examination performed by your GP. The expense of any tests you undergo as part of your assessment will normally be paid by AIA New Zealand.
Please email the team at Mercer Marsh Benefits to cancel your policy.
If you have existing cover there are a number of factors to consider before cancelling or reducing any existing insurance. We recommend seeking advice from a qualified Financial Adviser. The adviser who provided your original policy is a good starting point.
Mercer Marsh Benefits has a number of Financial Advisers who are available to provide advice if required.
Please contact Mercer Marsh Benefits if you wish to speak to one of our Advisers.
In the event of a claim, or potential claim, please contact your HR Consultant or Mercer Marsh Benefits.
If a person dies without making a will, he or she is said to have died "intestate".