Disclosure statements

You can always contact us through our contact us page: https://www.lifedirect.co.nz/our-service/contact-us.aspx

Company name: LifeDirect 2020 Limited

Trading as: LifeDirect

Mailing address: PO Box 11050, Manners Street, Wellington, 6142

Email address: team@lifedirect.co.nz

Phone: 0800 800 400 (Or +6498887025 if you're overseas)

LifeDirect and our Financial Advisers can provide information and advice to our clients about their:

• Life Cover
• Trauma Cover
• Total Permanent Disablement
• Accidental Death
• Income Protection
• Mortgage Repayment
• Health Cover

Additionally, we offer referral services for the following products:

• Business Cover
• House & Contents
• Car Cover
• Pet Cover
• KiwiSaver Scheme

We are unable to offer legal or tax advice, and recommend you consult with a solicitor or accountant for this type of advice.

For Life, Trauma, TPD, Income Protection, and Mortgage Repayment insurance we work with:

• AIA
• Asteron Life
• Fidelity Life
• Cigna
• Chubb Life
• Greenwich Life
• Partners Life
• nib

For Health insurance we work with:

• Accuro
• AIA
• nib
• Partners Life
• Southern Cross

For Business Insurance, our third partner provider BizCover works with:

• AIG
• Ando
• Dual

For House & Contents we work with:

• initio

For Car & Pet we work with:

• Cove

For KiwiSaver schemes we work with:

• AMP
• ANZ
• Booster
• Fisher Funds
• Generate
• kōura

LifeDirect does not charge any fees for our service.

There is no additional cost to you at all for using our service.

Insurance

If you proceed with a new insurance policy, then we are remunerated by way of commission from the insurer (a percentage of the yearly premium that you pay to your insurance company). The commission we receive is between 30% and 230% of the first year's policy premiums. This depends on which insurance company and which policy you choose.

Depending on the Financial Adviser, a part of the commission is then on-paid to them for setting up your insurance policy.

LifeDirect is also paid an ongoing commission each year from the insurer, for helping you to review your cover, to answer any questions, implement any other changes that you require, or assist with any claims. This is between 3% and 10% of the yearly policy premium.

KiwiSaver Scheme

If you proceed with KiwiSaver Scheme through LifeDirect, then we are remunerated from the KiwiSaver Scheme provider. Depending on the provider you go with and your account balance, we may receive an upfront commission between $0 and $300.

LifeDirect is also paid an ongoing commission each year from the KiwiSaver Scheme provider, for ongoing service including reviews, answering questions, and helping to maintain your KiwiSaver scheme account. This is an annual payment of between 0.1% and 0.5% of your account balance depending on the provider you have chosen.

For a full breakdown of the KiwiSaver scheme commissions, please contact us.

To ensure that our Financial Advisers prioritise our clients' interests above their own, we follow an advice process that ensures our recommendations are made based on each clients' individual goals and circumstances.

Our advisers have their New Zealand Certificate in Financial Services Level 5 (version 2). They also undergo regular training, both internally and with our providers.

Some of our advisers are paid a commission based on policies commencing. Other advisers are salaried but may receive other payments if they hit internal KPIs including good customer outcomes, service levels, and other non-sales related targets. All payments to advisers are subject to regular checks to ensure the advisers are meeting our internal quality standards.

We regularly review our compliance programme and internal processes.

LifeDirect and our Financial Advisers have duties under the Financial Markets Conduct Act 2013 relating to the way we give advice. We are required to:

• Give priority to your interests
• Exercise care, diligence, and skill
• Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services
• Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services

Direct (no advice)

This is the process where we allow you to research, choose your own policy and provider, and apply direct on our website. The products available on site are limited to Life Cover, Trauma Cover, Income Protection, Mortgage Repayment, and Health Cover but we can include other products and options. For a list of some of the other products of optional addons, you can refer to the applicable policy brochure on our compare page or ask us!

Our team is available to help with any questions you have, provide information about the products we offer, help get your cover in place, and provide ongoing servicing but through this level, we are unable to provide any personal recommendations.

You may choose this option due to the ease and speed of getting cover, but it may not be fully personalised to your exact situation.

If you have any concerns around what you need, a more thorough advice level may be better suited.

Digital advice

Our digital advice platform will take you through a number of steps to understand some basic needs and requirements you have for your cover. It will then recommend several different levels of cover and allow you to proceed by choosing who you'd like to get your insurance through and allow you to apply with them online.

The digital model we have is limited in scope (which is outlined when you proceed through it) but has been designed and built to provide good levels of cover for most circumstances.

Limited advice

Here is where we will go through an advice process in a limited capacity. We will both agree (and confirm) beforehand on a subset of products and/or providers and LifeDirect will be able to provide advice or recommendations limited to that agreed scope.

For example, you may just want advice limited to Health Insurance.
In this case, we will agree to restrict to Health Insurance, and we will exclude all other products from this advice process.

We will still be able to answer questions around other products or providers outside of the scope, but we will be unable to provide any personal advice around them. Anything outside of the scope will be under a "Direct (no advice)" model. If you do require more personal advice outside of the limited scope, then we'd look to proceed with a Full personal advice offering.

Full personal advice

This level is where one of our financial advisers will go through a full advice process with you to fully understand your requirements and needs from an insurance package.

This is the most detailed of the levels and will be the one that takes the longest as it's the most thorough option. The cover we would recommend at this level will be personalised to your situation.

In choosing an insurer or policy you are acting on your own behalf, and if you have any doubts about your decision, let us know and we can provide professional insurance advice.

The tools provided to help you choose a level of insurance (for example our online calculator) or compare policies (for example our policy comparison tools) are provided in good faith, however they are of a general nature and might not be relevant to your individual circumstances. If you have any concerns about this, let us know and we can provide you with personalised advice.

Accordingly, LifeDirect cannot be held liable for any decisions you make based on information on this site when you don't receive personalised advice.

Neither LifeDirect, nor its associated companies, directors, employees, or agents guarantee the performance of any insurer or policy. We do not warrant or endorse any insurer or policy, nor do we promote, or make any representation to any person as to quality or suitability for any purpose of any insurance policy available on this website. No liability is accepted for any loss or damage incurred by any person as a result of using any insurer or insurance policy available on this website.

If at any point during the process you think you need more personalised options, our team are more than happy to provide that. Just let us know and we can start that process.

Our license allows us to provide to provide financial advice services through our Financial Advisers, a digital advice platform, or through our direct comparison platform. We take responsibility for any financial advice services provided by our advisers as well as our digital platform relating to the products and services we have available.

At LifeDirect we always try to resolve any disputes or complaints ourselves, immediately. You can complain by contacting us or by emailing us at complaints@lifedirect.co.nz.

Your complaint will be reviewed by our internal complaints team as soon as possible. Your complaint will be logged in our internal Complaints Register straight away and updated through the process.

We will consider your complaint and identify how we may be able to solve it. We will respond to you within two working days. We will contact you by phone or email and let you know how we plan to resolve your complaint.

If we are not able to resolve your complaint, or you aren't satisfied with the way we propose to do so, you can contact Financial Services Complaints Ltd (FSCL) – A Financial Ombudsman Service on complaints@fscl.co.nz or 0800 347 257. You can also write to them at PO Box 5967, Wellington 6140.

FSCL provides a free, independent disputes resolution service that may help investigate or resolve your complaint.