What’s your financial strength rating?
Our Financial Strength is important becuase it lets you know whether you can rely on us to be there when you need us. We are backed by Hannover Life Re of Australasia, and have been since we started business in 1998. Hannover Life Re is a member of the Hannover Re reinsurance group of companies, with whom all our reinsurance is currently placed. Hannover Re has a very strong financial strength rating, being rated by Standard & Poor’s as AA- “Very Strong” and A.M. Best as A “Excellent”.
Who underwrites your policies?
Pinnacle Life is a licenced life insurer, our policies are not underwritten by any other company. Our policies are reinsured with Hannover Life Re of Australasia as part of our prudent financial management.
Where can I find Pinnacles' Terms and Conditions and Privacy policies?
You can find our terms and conditions here and our privacy and security policy here.
What are your cover limits?
For Life Insurance
- if you apply online you can get cover from $100,000 to $1,500,000.
- If you’d like to apply for cover of under $100,000 or up to $2 million contact our office (there will be some extra medical check requirements for the higher cover levels).
For income protection cover
- we offer cover of up to a maximum of $12k per month (before tax income).
What are your age limits?
We offer cover to people aged between 18 and 75. Specifically, the age limits are:
For Life Insurance
- you can apply online if you are aged 20-69
- or by talking to us if you are 18-75.
- You can be living in NZ, Australia, USA, Canada, UK, Ireland, Hong Kong or Singapore.
For Income Protection
- you can apply if you are 20-59 and,
- living and working in NZ.
For Critical Conditions (note you can only apply for Critical Conditions at the same time that you apply for life insurance)
- You can apply online if you are age 20-59
For Disability Cover (note you can only apply for Disability Cover at the same time that you apply for life insurance)
- You can apply online if you are age 20-59
Does it matter if I have other life cover policies?
No. You can have as many policies as you like with as many companies as you like.
Can I get cover for my parent/partner?
Yes, they simply need to apply. Note that it's the person getting insured who must provide the answers to the health questions on the application form and complete the declaration. When the policy is issued, the insured person will also be the policy owner. If they want to change that, they will need to request an update using the 'change of ownership' form included in the policy.
Can I take out life insurance on anyone I choose, for example, can I insure the old fella that lives across the road?
In theory yes you can, but not without their knowledge, as they need to be the one that applies. It's the person getting insured who must provide the answers to the health questions on the application form and complete the declaration. When the policy is issued, the insured person will also be the policy owner. If they want to change that, they will need to request an update using the 'change of ownership' form included in the policy.
How do you work out how much premium I pay?
Premiums are calculated based on several factors, including your age, gender, smoking status, medical history, some lifestyle factors, and how much cover you need. Actuaries work out the likelihood of you needing to make a claim based on all these factors and set the premiums accordingly. There are some things you can do to control what you pay, including not smoking, maintaining a healthy weight and not undertaking risky activities, like sky diving or rock climbing. The amount of cover you choose also affects your premium, more cover will cost more.
