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					choice
life                                                               your Sovereign update / issue one / 2011




www.sovereign.co.nz



choose a longer life                                                                    What do Mexican


with Sovereign                                                                          wrestlers, late-night
                                                                                        skinny-dippers
                                                                                        and 30-something
                                                                                        skateboarders have to
                                                                                        do with life insurance?



                                                                                                  If our new TV ads
                                                                                                  have got you asking
                                                                                                  that question, we’re
                                                                                                  pleased to hear it.

Over the next few mOnths yOu’ll see a new message frOm sOvereign. we’re still abOut
being strOng and reliable – that’s vital – but we thOught it was time we presented a
fresh face that’s inspiratiOnal, pOsitive and brave.
Why are we doing this? Well a lot of people think we just       Our fresh approach began with demonstrating the strength
‘do’ life insurance, but Sovereign doesn’t only provide         and ability of Sovereign through our financial rating* and
assistance at the end of your life – we can add considerable    our claim-paying ability. Now it’s time to tell everyone what
value to your life while you’re living it through our           makes us different and to build an iconic Kiwi brand that
market-leading range of insurance products. We want             sets us apart from other insurers.
our customers and potential customers to live a happier,        Best Doctors® was a great first step towards showing that
healthier life every day and to live a longer, better quality   there’s more to Sovereign than end-of-life insurance. We
life. That’s why we talk about ‘longer life insurance’.         hope you’ll agree the next phase in our journey is a giant
It’s when people are in their 20s and 30s – when they often     leap forward in providing Kiwis – including you – with
do something life-changing like get married, have kids, buy     ‘longer life insurance’.
house or start a business – that they need to start thinking
about longer life insurance. We’re making sure that what        * Sovereign has an A+ (Superior) claims rating from A.M. Best Company Inc
we have to say is relevant to people at that life stage while   of New Jersey, United States of America, 21 December 2010. A.M. Best is
ensuring that all our customers, no matter how many years       an approved insurance rating agency in terms of the Insurance Companies
young or old they are, understand why Sovereign is the          (Ratings and Inspections) Act 1994. The scale of rating is available for
                                                                inspection from Sovereign.
best choice for longer life insurance.




                           Play the Life's Choice game and be in to win
                             a share of $15,000 to live the life you want.
                                                 We’ve got $10,000 left to give away over the next two months.
                                                   But what do you need? Maybe it’s $900 for a new surfboard,
                                               $500 for a weekend escape or just $200 for new tramping boots.
                                                  Simply let us know what you choose for your chance to win.
                                         Play the game now at sovereign.co.nz/chooselife
                                                                                               regulation


                                                                                         you’re safer than ever
                                                                                         with Sovereign
                                                                                         when yOu’re dealing with financial advisers
healthy
 choice




                                                                                         it’s gOOd tO knOw that new legislatiOn nOw
                                                                                         prOvides yOu with even mOre safeguards.
                                                                                         The Government recently introduced new rules for people

          you look after                                                                 who advise on financial matters aimed at lifting professional
                                                                                         standards and providing greater protection for customers.

          yourself – we’ll                                                               A key piece of legislation is the Financial Advisers Act 2008
                                                                                         (FAA). This requires all financial advisers, including mortgage


          look after the bills
                                                                                         and insurance brokers, to meet certain obligations. For
                                                                                         example, they have to register as providing a financial
                                                                                         adviser service on the Financial Service Providers Register
                                                                                         (FSPR), and must exercise “due care, diligence and skill”
          mOst peOple appreciate the value and gOOd
                                                                                         when providing financial adviser services.
          sense Of taking Out health insurance. it’s
          easy tO understand and the benefits are                                        Advisers who offer investment advice must also be
          ObviOus. have yOu ever stOpped tO cOnsider                                     licensed by the Financial Markets Authority to operate as
          the cOst Of recOvery frOm a seriOus illness?                                   an Authorised Financial Adviser (AFA) and comply with the
                                                                                         Code of Professional Conduct for Authorised Financial
          One in five men and one in seven women between the                             Advisers, which provides minimal standards for ethical
          ages of 30 and 64 will suffer a critical illness, such as                      behaviour, client care, competence, and continued training.
          cancer, heart attack or stroke.* If this happened to you,
                                                                                         There are significant penalties for unregistered advisers and
          would you be able to pay the mortgage or car loan, let
                                                                                         for advisers who deliberately mislead or deceive a client.
          alone maintain your current lifestyle?
                                                                                         You can now go to an independent dispute resolution
          Ongoing advances in medical treatment mean
                                                                                         provider if you have a problem that can’t be resolved directly
          New Zealanders have a greater chance of surviving
                                                                                         with a financial adviser.
          critical illness than ever before – and a greater need for
          financial support over that time.

          PROTecT yOuRselF wITh lIvIng AssuRAnce
          Sovereign Living Assurance is designed to support you
          financially if you suffer a critical illness, so you can focus
          on your recovery without having to worry about paying
          the bills. It provides a lump-sum payment which is ideal                                                                     “I love it when
          for paying immediate living expenses and alleviating the                                                                     Dad swings me
          burden of debt.                                                                                                              round. It’s like
          With Sovereign Living Assurance you can choose                                                                             there’s a safety net
          personal or business cover, or both, depending on your                                                                     that will catch me,
          needs. Both are available in either comprehensive or                                                                        no matter what.”
          essential cover options. You can also choose to extend
          your cover with a range of optional add-ons.
          The best idea is to talk to your Sovereign adviser –
          they’ll help identify the best cover for you.                                  sOveReIgn AdvIseRs AheAd OF The ResT
                                                                                         Sovereign advisers have always been top-notch and
          *Gen Re LifeHealth Australian Critical Illness
          Survey 2008
                                                                                         we’ve now helped more than 500 advisers achieve new
                                                                                         qualifications and comply with all the standards required by
                                                              Read some of our           law. This means they can deliver even better service to you.
                                                             customers’ real-life
          Serious stuff                                    insurance experiences
                                                                                         There’s never been a better time to get your insurance from
          Every day about 22 people in                                                   Sovereign and get great advice from an adviser you can trust.
                                                           after serious illness at
          New Zealand have strokes.                        www.sovereign.co.nz/
          (the stroke foundation of new Zealand, 2010)

          Half of all cancer patients
                                                             real-life-insurance         Want to know more?
          will recover and be alive five                                                 for more information about the information in this article
          years later.                                                                   you can also visit the financial markets authority website
          (new Zealand ministry of health, 2008)                                         www.fma.govt.nz

          Some indicative costs of common medical                                        you can easily check out whether an adviser is appropriately
          procedures in 2010 were:                                                       qualified on the fspr at www.business.govt.nz/fsp
          • Coronary artery surgery $27,000-$32,000                                      if your adviser belongs to the sovereign group Qfe, they
          •	 Heart	surgery	$50,000-$75,000	                                              are not required to individually register and so may not
          •	 Mastectomy	(not	including	reconstruction)	                                  appear. in this instance call sovereign on 0800 500 108 to
             $18,000-$25,000                                                             confirm their nominated representative status.

                                                                               sOvereign lifeCHoiCE
                                         choice as                 our readers’ top tips for healthy living
      Cut me out and pin me up

                                         surviving the
                                          supermarket
                                           A HEALtHy diEt StArtS At tHE SourCE – tHE groCEry StorE
                                          or	superMarket.	after	all,	if	you	don’t	Have	groceries	in	
                                          tHe	fridge,	you’re	More	likely	to	end	up	eating	fast	foods	
                                         or ordEriNg iN A piZZA.


                                  Tick of f this check list
              opping can                         AVOID RUSH HOUR
 We know sh
               uming and
 be time-cons
                                                 schedule your shopping to avoid those log-jammed supermarket aisles.

              o here are a
                                                 early in the morning is a good time, even on weekends. you’ll always find
 expensive, s                                    a trolley and the produce is fresher.
                  ake the
   few tips to m
                   easier,                       MAke A lISt – AnD keep tO It
    chore a little
                   d more                        it might sound obvious but you’re less likely to go for the junk food with
    healthier an                                 a list in hand. try to plan your meals for the week (or a few days) ahead –
         affordable.                             if you’re stuck for ideas, flick through some recipe books for inspiration.
                                                 get the kids to cross off the items on the list as you go.

                                                 DOn’t SHOp On An eMpty StOMAcH
                                                 we’ve all had the experience of shopping when we’re hungry, tired or
                                                 rushed, and coming home with fast or junk food items we bought on
                                                 impulse. beat that one by eating before you go and you’ll resist temptation.

                                                 FReSH IS beSt
                                                 it’s easy to tell how healthy your food is – just look at whether it comes
                                                 in boxes and cans, or fresh from the farm and fields. if more than half your
                                                 groceries are processed, you might want to think about changing your
                                                 eating habits.

                                                 StIck tO tHe peRIMeteR
                                                 most healthy foods, such as fruit and vegetables, fish and dairy products
                                                 are located around the edges of the store. steering clear of the aisles
                                                 containing cookies, chips and alcohol will mean those items are less likely



   sinhgatirpse andsobee inchoitocewin
                                                 to land in your trolley.


                     m                           ReAD tHe FIne pRInt
                                                 we all know lots of fresh food is best, but with our busy lives it’s hard to

liv
                                                 completely avoid the processed stuff. to make the best choice, read the
                                                 food labels and learn about the different names for ingredients.

                                                 DIRect MARketIng
                                                 check out your local farmers’ market for a better selection, lower prices
    If you have some choice                      and a fun shopping experience. you’ll buy seasonally straight from the
                                                 producer, when the produce is freshest, and you’ll also be buying locally,
     living tips to share with                   doing your bit to help the environment.

readers, send them to us at                      tHe bIg FReeze
chooselife@sovereign.co.nz                       buying in bulk is cheaper and means you can make the most of a bargain
                                                 when you see one. make sure you pick produce that freezes well, and
  If your tips are published                     check how long it will last when frozen.
    you’ll pick up one of ten                    tHIRSty wORk
        double movie passes!                     water, low-fat milk, real juice and herbal tea are the best beverages to buy.
                                                 if you simply can’t resist soft drinks, choose the diet options to avoid all
                                                 that extra sugar.



                                          Need some help with meal planning? Check out www.healthyfood.co.nz
                                                              sOvereign lifeCHoiCE
       news



    sOveReIgn welcOMes
    cOlOnIAl POlIcyhOldeRs
                                                                                               leading the way
                                                                                               in sustainability
                                                                                               august was an exciting mOnth fOr sOvereign
                                                                                               as the cOmpany cO-hOsted a cOnference Of
                                                                                               internatiOnal insurance representatives tO talk
                                                                                               abOut the industry’s future.
                                                                                               Aimed at generating feedback on the newly developed
                                                                                               global Principles for Sustainable Insurance (PSI), the Oceania
                                                                                               region meeting was also hosted by the United Nations
                                                                                               Environment Programme Finance Initiative; the Investment,
                                                                                               Savings and Insurance Association of New Zealand; and the
                                                                                               Insurance Council of Australia.
    if yOu’re a cOlOnial mutual pOlicyhOlder,
    yOur pOlicy has nOw been transferred                                                       The two-day event kicked off with a welcome function
    tO sOvereign – but yOur pOlicy wOn’t be                                                    hosted at Sovereign House. Delegates from the insurance
    affected in any way.                                                                       industry, government and regulators, business, industry and
                                                                                               academia from all around Oceania heard Sovereign Chief
    On 30 June 2011, the colonial mutual life assurance                                        Executive Charles Anderson, United Nations’ Butch Bacani
    society limited (cmla) transferred its new Zealand                                         and renowned adventurer and
    insurance business to sovereign, which already                                             philanthropist Peter Hillary give     Insurance
    administered the policies. this transfer was approved                                      keynote speeches explaining the
    by the reserve bank. both companies are owned by                                           importance of sustainability to
                                                                                                                                     sustainability
    the commonwealth bank of australia.                                                        Sovereign, the insurance industry     doesn’t just
    the transfer means the new Zealand business is now                                         and the United Nations.
    administered solely in accordance with new Zealand                                         The global insurance industry                           involve addressing
    law, resulting in a reduction in compliance costs.                                         is developing a best practice                           environmental
    the day-to-day administration of the policies has                                          framework to help it address
    not changed as a result of the transfer, and the rights                                    issues affecting its insurance and                      issues. It’s about
    and benefits of colonial policyholders have not been                                       investment activities. This will, in
    affected in any way.                                                                       turn, make it more effective at
                                                                                                                                                       understanding,
                                                                                               reducing risk and better placed                         managing and


                                                   Choice
                                                                                               to contribute to sustainable
                                                                                               economic development.                                   carrying risk in a
                                                                                               Sponsored by the United Nations,                        sustainable way.

                                                   feedback !
                                                                                               the draft principles for this
                                                                                               framework had been developed by
      LifeChoice isn’t                                                                         the PSI project team. The regional
      just about us                                                                            consultation meetings, happening on seven continents, are
                                                                                               about getting these underlying principles right so that the
      talking to you –                                                                         global framework is robust.
      we’d love to hear from                                                                   The feedback from Oceania, together with that from the
      you too. If you’ve got an insurance                                                      other six consultation meetings around the world, will
      story to share or simply want                                                            help shape the final version of PSI before its official launch
      to provide feedback, email                                                               next year at Rio+20, the United Nations Conference on
                                                                                               Sustainable Development. At Sovereign we’re proud to have
      chooselife@sovereign.co.nz                                                               played a key part in this global initiative, leading the way in
                                                                                               the development of a sustainable insurance industry.


                                                                                               to find out more go to:
need MORe InFORMATIOn                                                                          www.unepfi.org/work_streams/insurance/index.html
if you have a query about your current policy, or would like
information on our other products or services, please contact
your adviser. if you would like to be put in contact with an adviser,                          hAve yOuR deTAIls chAnged? if you have moved
our customer relationship team can help you.                                                   house, changed your name or any other personal details, please
PleAse cAll On 0800 500 108 Monday to Friday 8.00am                                            email us at coa@sovereign.co.nz or call us on 0800 500 108.
to 6.00pm, or email enquire@sovereign.co.nz                                                    yOu dOn’T need TO AdvIse us IF yOuR POsTcOde hAs chAnged.


The information contained in this publication is general in nature and is not intended as advice. It may not be relevant to individual circumstances and before making any investment,
insurance or financial planning decision; you should consult a professional adviser. Copies of our disclosure statements are available on request, free of charge.

				
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