07 Aug OnePath Life policies to be transferred to Cigna Life
Last year Cigna Corporation purchased OnePath from ANZ, its life insurance business and the provider of OnePath life insurance policies. OnePath has continued to provide insurance but since 30 November 2018 has been part of the Cigna Corporation.
Cigna Corporation is planning to combine its New Zealand businesses by transferring the OnePath Life insurance business to Cigna Life Insurance New Zealand (Cigna). If this change is approved by the Reserve Bank of New Zealand, the insurer of these policies will change to Cigna Life Insurance New Zealand Limited.
What it means for policy owners
While we want to let you know what is happening, you can be assured that if approved:
- You’ll continue to enjoy the same protection, with the same terms and conditions
- You’ll continue to deal with the same people, on the same contact details as you do now.
The only thing that will change is that Cigna Life Insurance New Zealand Limited will become the insurer of all former OnePath policies. Cigna has an A (Excellent) financial strength rating from A.M. Best Company Inc.*
Cigna want your feedback
As part of this process, Cigna would like to hear your feedback on the proposed change. You can use the online form at cigna.co.nz/feedback, call us, or call Cigna on 0508 464 999. Feedback received by 6 September 2019 will be considered by Cigna and the Reserve Bank of New Zealand as part of Cigna’s application for approval. If you don’t have any feedback, you don’t need to do anything.
We’re here to help
If you have any questions or would like to discuss your policy in more detail, please get in touch.
What is the change?
Cigna Corporation purchased ANZ’s life insurance business OnePath Life (NZ) Limited (OnePath) in November 2018. Cigna Corporation is now intending to combine its businesses by transferring the OnePath business to Cigna Life Insurance New Zealand (Cigna).
If this change is approved by the Reserve Bank of New Zealand, the insurer of your policy will change from OnePath Life (NZ) Limited to Cigna Life Insurance New Zealand Limited.
Who is Cigna?
Cigna has been operating in this country for over 100 years and currently protects more than 450,000 New Zealanders. Cigna is committed to being the first place New Zealanders turn to for their health, wellbeing and sense of security. Since purchasing OnePath Life (NZ) Limited from ANZ in November 2018, the team at Cigna has been looking after you and would continue to do so.
What does this mean for me?
If the combining of the businesses is approved by the Reserve Bank of New Zealand the insurer of your policy would become Cigna Life Insurance New Zealand Limited instead of OnePath Life (NZ) Limited.
Your Policy
How does the combining of the businesses affect my policy?
While your insurer may change, there will be no change in the terms and conditions of your policy as a result of Cigna Corporation combining the OnePath and Cigna businesses.
Will this affect my premiums?
No, your premiums will not change as a direct result of the two businesses combining. Your insurance will continue to be managed under the terms and conditions of your policy. Should there be any future changes to your premiums, you will be notified in advance as usual in your
anniversary letter and policy overview.
Will this affect my Adviser relationship?
No. Your Adviser will continue to be your point of contact for expert advice or information about your cover.
Who do I speak with if I have questions about my policy?
Continue to contact your Adviser who will be able to help you.
What about claims?
I have a claim in progress, what should I do?
The change won’t affect your claim in any way. You can continue to talk to your claims consultant who will be there to support you through your claim.
What should I do if I have a claim to submit?
Making a claim often comes at a challenging time. If you need to make a claim please talk to your Adviser as they can support you and help make this process as simple and easy as possible. Alternatively you can visit the customer information section at onepath.co.nz for information on how to make a claim, or email onepathclaims@onepath.co.nz or call us on 0508 464 999
Do I need to do anything?
Cigna would like to hear your feedback about the proposal to combine the businesses by transferring the OnePath business to Cigna. You can provide this through the online form at cigna.co.nz/feedback, call us on 0508 464 999 or provide this to your Adviser to pass on for you.
What if I don’t have any feedback?
If you don’t have any feedback, you don’t need to do anything.
Why does Cigna want feedback about the proposed combination of the two businesses?
As part of their application to the Reserve Bank of New Zealand, Cigna want to ensure policy holders have the opportunity to provide feedback about the proposed change.
What will happen if the Reserve Bank of New Zealand approves the combining of the businesses?
This is a change to the insurer of your policy. If the change is approved, your Adviser will continue to contact you as
they do now to make sure your cover continues to meet your ongoing needs.
Who can I talk to if I have any questions?
If you have any questions about your policy or cover, please contact us. Alternatively contact OnePath/Cigna on
insurance@onepath.co.nz or 0508 464 999.