The Foundation Life business is winding up.  We have followed up with customers several times regarding the outstanding requirements documentation to enable cash payments to be completed. All outstanding cash payments where completed requirements documentation was not received by 30 June 2026 have been transferred to the Inland Revenue as unclaimed money in accordance with the Unclaimed Money Act 1971.  

Customers will now need to claim their cash payment from the IRD – refer www.ird.govt.nz/unclaimedmoney .

As the Foundation Life business is winding up and as we have followed up with customers on requirements documentation several times, we have commenced transferring cash payments to the Inland Revenue as Unclaimed Money in accordance with the Unclaimed Money Act 1971.

If the remaining requirements documentation needed to complete Cash Payments are not received on or before 30 June 2026 the outstanding cash payments will be transferred to Inland Revenue Department (IRD) as Unclaimed Money.  The customer will then need to claim their payment from the IRD – refer www.ird.govt.nz/unclaimedmoney .

We wrote to customers entitled to a cash payment under the scheme of arrangement (Scheme) in October 2025, notifying them of their cash payment value and the requirements to be met to receive the cash payment.

Despite numerous follow ups by Foundation Life, some customers have still not provided any of the required documentation to enable their cash payment to be processed.  As Foundation Life has ceased operating as a life insurance business and is currently in the process of winding up, these customers had until 31 May 2026 to provide the required documentation.

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Foundation Life has completed over 13,000 cash payments totaling over $230 million and representing 86% of total Scheme cash payments to be made.

For those who have yet to provide the required cash payment documentation, we encourage you to act now.  We have sent you two follow-up letters, and an e-mail to those for whom we have an e-mail address.

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