In New Zealand's Sunday Star Times at the weekend, a quick comparison of life insurance prices by journalist Rob Stock suggests that Pinnacle Life’s online product is the best priced in the NZ market.
It's no surprise to us since offering life insurance online cuts out layer upon layer of the traditional administration and distribution costs - costs which we don’t have to pass on to the consumer.Rob compared Pinnacle Life with the average prices of 10 traditional NZ life insurance companies. Quotes are based on a male, non-smoker seeking $300,000 cover.This was the result, as published in the Sunday Star Times print version (20 May 2007):
|Age 20||Age 30||Age 40|
|Pinnacle Life - ONLINE||$25.49||$19.92||$24.65|
|Other Insurers' average||$33.85||$21.80||$27.82|
Source: Pinnacle Life and Sentinel Group
Remember, you pay these amounts month after months, year after year. There’s no good reason to pay more for your life insurance than you need to.