NEWS

COVID-19 Update

 15 May 2020

 

With New Zealand currently at COVID-19 Alert Level 1, we remain focused on protecting the health of our staff and policyholders while continuing to ensure we meet your service expectations.  Our offices are open and fully staffed.  We can assure you that Foundation Life staff will be practicing comprehensive health and safety practices, following NZ Government guidelines, to ensure that our offices are a safe environment.

 

If you wish to visit our offices, please follow the directions of our staff and comply with our mandatory health and safety procedures.  If you are feeling unwell or have reason to believe that you have been exposed to COVID-19, please do not come into the office.  Please contact us by email or telephone (0800 808 581 or +64 4 439 4300 outside NZ).

 

We would like to thank our staff and all our policyholders for their efforts and patience as we work together through these unprecedented times.

 

 

 

 

 

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Policyholder Update Letter - December 2019

In December 2019 a letter was sent to all Foundation Life (NZ) Limited (Foundation Life) participating Whole of Life and Endowment policyholders (Policyholders) outlining the progress made on the possible policy restructure Foundation Life is considering. 

While Foundation Life was planning to send an information pack to Policyholders before the end of 2019, the final details of the proposed policy restructure are still being finalised, due, in part, to the need to assess the impact of the significant reduction in long term interest rates over recent months. Once this assessment is completed, we will be able to provide final details of the proposed policy restructure.

It is now expected that an information pack will be sent to Policyholders during the first half of 2020 once the proposal is finalised, the Appointed Actuary and Independent Actuary have completed their final reviews, all approvals have been achieved and the first High Court hearing has been held. 

The comprehensive information pack will include information on the proposal, estimated values and a Voting/Proxy form with instructions on how to vote.  The decision on whether the proposed policy restructure proceeds will then rest with Policyholders.

We ask that any Policyholders who haven’t done so already get in touch with us to check we have their correct contact details. This is important to ensure that when we do next make contact, we can be sure you will receive the information.  Our contact details can be found on the Contact Us page.

We expect to provide another progress update in the first quarter of 2020.

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Policyholder Update Letter- June 2019

In June 2019 a letter was sent to all Foundation Life (NZ) Limited (Foundation Life) participating Whole of Life and Endowment policyholders (Policyholders) outlining the progress made on the possible policy restructure Foundation Life is considering. We also advised that if the proposed policy restructure proceeds, overseas resident Policyholders will receive a cash amount in replacement of their policy. This is because the replacement life insurer is unable to offer replacement life insurance to Policyholders who reside overseas. Please visit our Overseas Policyholder page for more information. 

At this stage, the final details of the proposed policy restructure are still being worked through. The steps involved in the process make it difficult to provide a definitive timetable; however, it is estimated that the proposal will be presented to Policyholders to vote on during the second half of 2019. Prior to the vote taking place Policyholders will be sent a comprehensive information pack, including information on the proposal, estimated values, a “Frequently Asked Questions’ sheet and a Voting/Proxy form with instructions on how to vote.

We ask that any Policyholders who haven’t done so already get in touch with us to check we have their correct contact details. This is important to ensure that when we do next make contact, we can be sure you will receive the information.  Our contact details can be found on the Contact Us page.

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Transfer of Unit Linked and Capital Guaranteed Policies to Lifetime Income

Update to Press Release of 5 October

The transfer of Unit Linked and Capital Guaranteed Policies to Lifetime Income Limited was completed on 2 March 2018. Lifetime Income Limited are now responsible for the following policies.

  • Enroute Gold
  • Investment Account
  • VIP
  • Vital
  • Vital with life cover
For further Information please contact:
 
Ralph Stewart 021 89 55 33
Managing Director This email address is being protected from spambots. You need JavaScript enabled to view it.
Lifetime Income Limited www.lifetimeincome.co.nz
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