7 April 2020
As the impacts of the COVID-19 pandemic continue to evolve, we are focused on protecting the health of our employees and customers, while doing our best to ensure we are still able to meet your service expectations. Following the directive issued by the NZ Government our offices are now closed and the majority of our staff are working from home. As an essential business, we have a small skeleton staff in the office to process claims. We remain available to assist and support you where needed. Please contact us by email or telephone (0800 808 581 or +64 4 439 4300 outside NZ) or visit our website www.foundationlife.co.nz/news for updates.
Foundation Life (NZ) Limited remains in a very strong financial position and well able to meet all its obligations. All policies with us are secure and all approved claims will be paid out in accordance with our current policies and procedures. However, the COVID-19 pandemic has required us to change our work practices to ensure that we minimise the risk of transmission and comply with government orders. These changes may result in adjustments to the service levels we are able to provide. We appreciate your understanding.
We were planning to send the proposed policy restructure (Scheme) information pack out to our Whole of Life and Endowment policyholders in the first half of 2020. Due in part to the financial and economic uncertainty created by the COVID-19 pandemic and the restrictions now in place, we are currently unable to confirm the final details of the Scheme. The information pack will be sent to policyholders 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. We will provide further updates in due course.
This is a very difficult time for us all and we wish you and your family all the best as we work through these unprecedented times. Please keep you and the people around you safe.