Momentum Life issued life insurance licence in New Zealand
Published on Tue Mar 13 2018 in News
Momentum Life, one of the fastest growing direct-to-customer life insurance brands in New Zealand, announces the grant of their life insurance licence.
Following almost two years of impressive growth, Momentum Life announced that it has been issued a life insurance licence beginning 12 March 2018, becoming the underwriter of their future products. The Auckland-based company quickly grew after launching in April 2016 and accounted for over 60% of the total new guaranteed acceptance life insurance business issued in New Zealand during 2017. The transition into underwriting policies will help further Momentum Life’s vision of providing simple and affordable life insurance products to New Zealanders.
Russell Howden, managing director of Momentum Life, commented, “We’re thrilled to now hold our life insurance licence and continue our upward growth. This move will provide us with more opportunities to bring innovative products to market, giving New Zealand families more choice when it comes to meeting their insurance needs.”
Underinsurance is an issue for New Zealand. A Massey University study found that the rate of life insurance purchased amongst New Zealanders sits far below levels in similar Western nations, creating a gap estimated at over $195.5 billion. “There is a tremendous life insurance need in New Zealand,” continued Howden, “Momentum Life will continue bridging this gap, providing New Zealanders with products and resources that can help secure their financial futures.”
Momentum Life will continue working to its strengths, including providing customers with an outstanding customer service experience. They have just been awarded the Feefo Gold Trusted Service Award for the second year running, an independent seal of excellence based on feedback from verified customers. They are also developing a range of resource materials, designed to educate customers about estate planning.
About Momentum Life
Momentum Life is a licensed New Zealand life insurance company, providing New Zealanders with easy and straightforward insurance solutions. They specialise in life insurance and funeral insurance.
Momentum Life is also a proud supporter of Heart Kids, the only charity in New Zealand dedicated to providing lifelong care and support for children and families living with childhood heart defects. A portion of all Momentum Life’s first-year insurance premiums are donated to support the valuable work Heart Kids does across the country.
To learn more please visit www.momentumlife.co.nz.
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The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.
All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.