Get a quote

Quote

Switch to us

Switch

Calculate cover

Calculate

The internet - turning life insurance into a global commodity

Buying life insurance has always been restricted by geography. You could only ever buy a NZ life insurance policy if you live in NZ, a UK policy if you live in the UK and so on - you get the picture.

Ask insurers why this restriction has existed and you’ll get several answers - all of them true - along these lines:

  • Life insurance is sold by insurance advisers face to face. (Hard to do if you live overseas.)
  • Insurance companies require paper-based application forms with signatures and posting documents back and forth between countries is not very efficient
  • Life insurance pricing is only valid for a given country. If you live somewhere else, there are different risks and therefore a different price. And life insurers only price their products for the local market.

Thanks to the internet, this has all changed.

Pinnacle Life is a New Zealand based life insurer. We launched our direct life insurance offering to Kiwi’s living in any one of 8 countries: Australia, USA, Canada, UK, Ireland, Singapore, Hong Kong and of course, New Zealand.

The foundations of Pinnacle Life’s unique offering are:

  • Debunking the myth that consumers need to be sold life insurance - consumers are now buying life insurance direct and on-line
  • Harnessing the power of the internet to enable instant access to Pinnacle Life’s products from anywhere in the world
  • Dispensing with paper signatures. We've made the checking of a box an acceptable way to bind the insurance contract.
  • Creating insurance rates that are the same for Kiwi’s living in any one of eight countries.

Whilst Pinnacle Life has launched a world-first in this regard, we don’t think it will be the last. We think, over time, all life insurance will become the global commodity it should be.

Related posts

Life insurance online, at last! 14 May Life insurance and kiwis overseas16 May

Share this...
A notification message goes here.