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Continuation Options

A continuation option enables you to continue your life insurance and other cover from your employer’s plan when you leave service, without any assessment of your health.

25%
Cash back when
you exercise your option
+ $50
New World voucher
when your policy
is issued.

If you are insured under a Sovereign workplace insurance plan with your employer, and you are either leaving service or you have left service within the last 45 days (or in the last 60 days in some plans), then you will likely have a continuation option under the plan. This means that you are able to take out an insurance policy directly with Sovereign, up to the amount of cover you had under your employer’s plan, on favourable terms.

  • No medical examinations, tests or health questions.
  • You can apply entirely online. No paperwork to complete.
  • Get 25% Cash Back on your first year’s premiums.
  • Get one years’ paid membership of the Best Doctors program.
  • 24 x 7 worldwide cover, regardless of where or for how long.
  • Future-proofed with a guaranteed enhancement benefit.
  • The highest financial strength rating in New Zealand.
A+
(Superior) Financial Strength Rating from A.M. Best Company, Inc. Rating scale
New World Promotion

Apply online today and receive a
free $50 New World voucher
when your policy is issued.
Details

The Value of a Continuation Option

Continuation options are valuable. They enable you to take out insurance cover without undergoing any medical examinations or tests, or answering any health questions. All you need do is to complete a simple online form to apply for your cover. This means that any medical condition or state of health which you may have developed after obtaining cover under your employer’s plan is disregarded when you exercise your continuation option.

Continuation options are particularly valuable if you gained admission to your employer’s plan under the plan’s automatic acceptance terms. This means that any medical condition or state of health which you may have developed both before and after joining your employer’s plan is disregarded when you exercise your continuation option. In other words, no medical condition or state of health which you may have developed in your entire lifetime can be considered when you apply to continue your cover.

Get Special Concessions with KiwiCover

When you exercise your continuation option with KiwiCover, you get two special concessions:

  • You will receive 25% Cash Back on your first year’s premiums. The cash back will be direct-credited to your bank account as soon as your policy has been issued.

  • You will receive complementary paid membership of the worldwide Best Doctors program for one year. That will provide you and your family with access to advice from world-leading medical specialists.

Important Information

  • Any continuation option which you may obtain is subject to all of the terms and conditions set out in your employer’s workplace insurance policy.

  • In particular, for any continuation option which you exercise, Sovereign will issue an individual policy without further evidence of health at the rate of premium then in use by Sovereign for such policy having regard to any conditions of membership under your employer’s workplace insurance policy, your age, gender and smoker status, your new occupation, the type of insurance you select and any particular hazard attributable to circumstances other than health.

  • This website does not provide personalised advice, and it takes no account of your personal insurance needs or circumstances. In particular, the information in this website is not personalised financial advice for the purposes of the Financial Advisers Act 2008 and should not be relied upon in making a decision about insurance.