Free accidental death benefit for KiwiSaver members

AMP announces free accidental death benefit for its KiwiSaver members

Leading life insurer and retirement savings provider, AMP Financial Services, has today announced that it will be offering a free accidental death benefit up to a maximum of $100,000 to existing AMP KiwiSaver Scheme members and new members who join the AMP KiwiSaver Scheme before the end of 2014 (minimum age criteria apply).

If an eligible AMP KiwiSaver Scheme member passes away as a result of an accident between 1 September 2014 and 31 December 2015, AMP will make a lump sum payment to the deceased’s estate that matches the amount in their AMP KiwiSaver Scheme account at the date of their accident, up to a maximum of $100,000.

Jeff Ruscoe, Chief Customer Officer, at AMP says: “Since KiwiSaver started in 2007, more than two million New Zealanders have begun saving for their retirement and understanding the importance of looking after themselves in their ‘golden’ years. This is a fantastic start to thinking about their financial wellbeing. AMP KiwiSaver Scheme customers already benefit from some of the lowest fees in the market and its funds have been highly rated by CANSTAR and Morningstar. Today’s announcement delivers even more value to our members and will hopefully encourage people to think ever further or talk to an adviser about how they can protect themselves and their loved ones.

“While 80% of Kiwis protect their cars, homes and contents only 40% have life insurance*. Should the unthinkable happen and you pass away as a result of an accident, a lump sum payment of up to $100,000, depending on your KiwiSaver balance, could help to cover funeral costs, provide immediate financial support for your family or even contribute to any debts you may have,” continues Ruscoe.

“AMP’s Accidental Death benefit is not designed to be a replacement for a comprehensive life insurance policy but could go some way towards helping your family out should the worst happen and it encourages people to think about and seek advice on the importance of protecting their life,” concludes Ruscoe.

ENDS

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