Fidelity Acquires Tower Life Insurance - What You Should Know

Recently, Fidelity Life has acquired Tower Life, which means that all of the risk policies currently under Tower (Life Insurance, Total Permanent Disability, Trauma Insurance and Income Protection) will now be managed by Fidelity and be dealt with under the Fidelity name. If you have Health Insurance with Tower however, these policies will now be provided by NIB Health Cover.

The good news is that for clients with existing Tower policies, not a great deal is going to change. All of the terms and conditions on your current policies will remain the same and nothing will be renegotiated or changed. Sums assured will remain, as will any exemptions, add-ons to your policy, and no existing premiums will be altered in any way.

The changes will really only affect clients looking to take out policies in the future. With the change, the range of Tower insurance products will no longer be sold and will be replaced by the Fidelity range. If your Tower policy was acquired through us, we will remain on hand to help manage your insurance in the same ways as before and nothing will change.

For more information about the changeover or if you have any questions, feel free to call us anytime on (09) 307 8200 or by email at enquiry@sprattfinancial.co.nz.

The official announcement of the acquisition from Fidelity.

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