Partners Life - Takapuna
Home | Partners Life - Partnerslife.co.nz
Partner Life provides industry leading health and life insurance to Kiwis. Find out why New Zealanders need insurance, if you might need it, and how to get in touch with an independent financial adviser.
Home | Partners Life - Partnerslife.co.nz
The Minimum Solvency Capital is the amount of capital required to be held according to the RBNZ Solvency Standard.
The Solvency Margin is the amount of capital held by Partners Life that is surplus to (i.e. over and above) the Minimum Solvency Capital.
As a licensed insurer, Partners Life is subject to the requirements of the Insurance (Prudential Supervision) Act 2010. The purposes of this Act are to:
a) promote the maintenance of a sound and efficient insurance sector; and
b) promote public confidence in the insurance sector.
In accordance with the requirements of the Act, Partners Life has established a Statutory fund. A statutory fund is a fund that:
a) is established in the records of a life insurer; and
b) relates solely to the life insurance business of the life insurer.
The assets of a statutory fund are ring-fenced from other business assets, to ensure they cannot be used for purposes other than the business of the statutory fund i.e. paying customers’ claims. The Act prescribes a number of other requirements in order to protect the interests of policy holders.\n\n
Financial Strength\n\n
Partners Life has an A- u (Excellent) financial strength rating from A.M. Best, an approved RBNZ rating agency.
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\r\nEffective 2 June 2022, the ratings of Partners Life have been maintained Under Review (“u”) with Developing Implications. A.M. Best first placed Partners Life’s ratings of A- under review on 18 December 2020 following the announcement that Partners Life had entered into an agreement to buy the BNZ Life insurance business from BNZ’s Australian parent company NAB (subject to relevant regulatory approvals).
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\r\nThe A.M. Best financial strength rating remains under review pending completion of the transaction and as A.M. Best fully assess the financial and operational impacts of the acquisition.
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\r\nThe rating reflects A.M. Best’s opinion that Partners Life has an excellent ability to meet its ongoing insurance obligations. For the latest Best’s Credit Rating, please visit www.ambest.com. The combination of strong reinsurance, committed shareholders, and an excellent credit rating means you can be confident that Partners Life will be there when you need us to be.\u200b\u200b","featureImage":null,"linkedPage":{"id":"2V728BlomkSYKN96wMasdk","contentType":"linkedPage","title":"Contact us","URL":"\/contact-us","pageReference":null,"linkedPage":[],"description":"","isOutboundLink":false},"blocks":[],"metadata":{"id":"6ofPnDNnaFpIJPjyt5UoUr","contentType":"metadata","metaTitle":"Solvency and financial strength","metaDescription":"Get information about Partners Life shareholders, reinsurance, solvency standards and financial strength. \n","metaKeywords":"Partners Life, Partners Life shareholders, solvency standards, partners life financially stable"}},"linkedPage":[],"description":"","isOutboundLink":false},{"id":"11RKharuQLb7P4Hw06n4sO","contentType":"linkedPage","title":"Complaints process","URL":"\/complaints-process","pageReference":{"id":"5OdJrlFMq7U4ztPQH5ITuk","contentType":"pageContent","title":"Our complaints process","parent":null,"slug":"our-complaints-process","backToTop":null,"content":" We want to ensure clear and open lines of communication between us and our customers and we understand that sometimes that includes taking on negative feedback. This page outlines the specific process we undertake to receive, review and seek to resolve your complaints. What happens when you submit a complaint: We will acknowledge receipt of your complaint. There are several ways for you to get in touch with us. If you call or submit a complaint online, you will receive immediate acknowledgment. If you submit a complaint by post, you can expect an acknowledgement within five working days upon our receipt. We will investigate your concerns. Where possible, we will resolve your complaint at first contact. If we are unable to resolve your concerns in the first instance and depending on the complexity of the investigation, your complaint may be escalated internally for further review. We will keep you updated with progress until we communicate a proposed resolution to your complaint. If you are dissatisfied with the final outcome and a resolution can’t be agreed on, you can escalate your complaint to our external dispute resolution provider, the Insurance& Financial Services Ombudsman (IFSO).To do this you will need a Letter of Deadlock to confirm we have reached the end of our internal complaints process. You will have three months from the date of the Letter of Deadlock to lodge your complaint with the IFSO. They will consider your complaint if it is within their jurisdictional limits. The IFSO provides a free and independent service – please refer to their website for more details.
Contact Partners Life
| Address : | Partners Life 33-45 Hurstmere Road, Takapuna, Auckland 0622, New Zealand |
| Phone : | 📞 +8 |
| Postal code : | 0622 |
| Website : | http://www.partnerslife.co.nz/ |
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Michelle Nand on Google
★ ★ ★ ★ ★ If I could I would give Partners life a 100 star. I was diagnosed with Breast Cancer in the 1st lock down last year. The staff that I have dealt with during my cancer treatment have been very professional, helpful, sympathetic and hardworking. I was also paid my trauma cover even before my breast surgery. This was done within 2 weeks of finding out the diagnose. I really don't know how I would have managed if I didn't have medical cover. All my claims starting from my Mammogram, Biopsy, surgeries, administration to private hospital, Chemo and radiation and on going medications were approved and paid very quickly. Whenever I have emailed Partners Life, they have given me an excellent service. In saying that Last week I got my tooth extracted. As I needed clearance before a infusion in April. My claim was approved in 1 day and it was a full cover of $1600. The staff I spoke to understood my request and directed it to the claims officer in charge. I would recommend each and everyone to take a policy from Partners life. I have heard stories from other women who were not so fortunate during the level 4 lock down. As they were not able to get treatment during the lock down period. Great company and Awesome staff. Well done Claims team @ Partners Life.
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Charlotte Cudby on Google
★ ★ ★ ★ ★ 42% increase in premium over two years! And that's including my "loyalty" discount. I have checked and this is definitely NOT the market average increase. Lured me in with low premiums and purporting to me a more responsible insurer by not wasting money on corporate extravagance. Now my premiums are WAY higher than they would have been with my previous insurer and we are now stuck there.
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Jerah Rosie on Google
★ ★ ★ ★ ★ Massive increase in monthly premium over 3 years. Gone up by 40-50% for absolutely no reason. Will be canceling my cover
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Filipe Sousa on Google
★ ★ ★ ★ ★ Beware.
Besides that to cover whatever you need their consent before going to a doctor, being a exhaustive questionnaire.
Everything is confusing and frustrating.
On top, charging process is always a problem, even after several calls to correct their charging issues, problem persist showing very low confidence on all process, being highly suspicious.
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Maurice de Jesus on Google
★ ★ ★ ★ ★ DO NOT USE THIS COMPANY
this is a fraudulent company, horrible horrible service. had instructed them to cancel policies and still charging us for months. save your money and choose anywhere else EXCEPT PARTNERS LIFE
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Molok Anjinja on Google
★ ★ ★ ★ ★ Apparently you pay your premiums right from the first day but no partnerslife won't cover you for the stand down period. They won't credit your premiums though, and will stitch you out of a legitimate claim anyway they possibly can. Despicable company.
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PHIL BENNETT on Google
★ ★ ★ ★ ★ We have been with Partners Life for years and years. Had one claim for a skin cancer which was denied , long letter mainly in latin if you know what i mean. Have been trying to cancel our policy since 1st June 2022, Today is the 15th June and they continue to take the money for the policy out of our account. This company is terrible on communication and action. Be warned.
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Sanco1927 on Google
★ ★ ★ ★ ★ I have contacted four insurers and three of them have given me advice and quoted me over the phone, apparently not Partners Life. The person on the 0800 number told me that it is illegal to give advice and quotations over the phone and wanted to give me a number to call one of their agents directly.
Two questions come to mind: Would all the other companies I spoke to break the law, or have I been fibbed? And what is the point of having an 0800 number for queries if the only thing they are, apparently allowed to do is give you another number to call?
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