KEY POINTS:
New Zealanders can now get life insurance cover at the click of a mouse.
Well, maybe a few clicks.
Pinnacle Life today launches a website that allows consumers to buy immediate life insurance cover online.
Pinnacle Life senior partner and architect of the new venture, Ed Saul, said, "We're giving consumers a quicker and easier way to buy life insurance.
Instead of submitting an application form and waiting days for a policy to be approved and issued, we do it online and we do it immediately."
HOW IT WORKS
The entire process from application to policy approval is fully electronic with consumers receiving their policies online, instantly.
Visitors to the simple e-fulfillment site are greeted by an intuitive interface, which leads them through a series of typical insurance questions regarding age, health and occupation.
The process takes less than ten minutes, by the end of which full and immediate cover up to $500,000 is granted without the need for a medical examination, unless certain specific conditions are highlighted.
The site generates an automatic email with the policy document after processing the transaction online.
