Terms and Conditions

Precious moments

Terms and conditions

The offer of free life insurance set out on this website is made subject to the following conditions:

  1. The free life insurance ('the Free Life Insurance') is provided by Sovereign Assurance Company Limited ('us or we') to the individual(s) whose personal details are provided in the registration submitted via this website ('you'), subject to approval of that registration.
  2. The Free Life Insurance is provided in consideration of you providing your personal information to us, and agreeing that we may contact you during the term of the Free Life Insurance and following expiry of the Free Life Insurance to discuss our products and services. You consent to us contacting you by telephone and/or email for that purpose.
  3. The Free Life Insurance is only available to New Zealand citizens or residents between the ages of 16 and 70 with a new baby. You must register for the Free Life Insurance before your child is six months of age. This offer is open to adoptive parents and legal guardians. Each parent can register for Free Life Insurance separately.
  4. You can submit multiple registrations for multiple births and/or for children born before your child is one year of age. Each parent can have up to four current Free Life Insurance policies at any one time, so long as the four policies relate to different children, up to a maximum total sum assured of $40,000.
  5. The Free Life Insurance will take effect when Sovereign confirms your cover in response to a registration submitted via this website, and cover will end on your registered child's first birthday.
  6. The Free Life Insurance provides a lump-sum benefit of $10,000 (to the maximum of $20,000 if both parents are registered) in the event of your death, subject to certain exclusions as set out in your policy.
  7. Consideration or payment of any claim is subject to our receipt of the following information:

    • a copy of your death certificate;
    • a coroner's or police report (if one was issued);
    • evidence of your date of birth;
    • if the name on your death certificate is different from the name on the evidence of your date of birth, a certificate confirming the name change;
    • a copy of your child's birth certificate.
  8. Full details of the terms and conditions, limits and exclusions for the Free Life Insurance are contained in the policy wording which we will send to you following your successful registration, and which can also be obtained from Sovereign Assurance Company Limited, 74 Taharoto Road, Takapuna, Auckland 0622.
  9. The Free Life Insurance is subject to final approval by Sovereign. Certain conditions, exclusions or maximums may apply.
  10. By registering for the Free Life Insurance, you acknowledge that Sovereign has not provided you with any personalised financial advice in relation to that cover. If you wish to seek personalised financial advice, you will seek it from a financial adviser.

Financial disclosures

  1. The Free Life Insurance is underwritten by Sovereign Assurance Company Limited, which is part of the Commonwealth Bank of Australia Group and is a related company of ASB Bank Limited and its subsidiaries (the 'Banking Group'). Neither the Banking Group, the Commonwealth Bank of Australia, nor any other company in the Commonwealth Bank of Australia Group, nor any of their directors, nor any other person guarantees Sovereign or its subsidiaries, or any of the products issued by Sovereign or its subsidiaries.
  2. Sovereign's claims history has earned it an A+ (Superior) financial strength rating from A.M. Best Inc., which has been an approved insurance rating agency for over 100 years. A copy of this scale, of which this rating forms part, in available from Sovereign. The financial strength rating is an assessment of an insurer's ability to meet obligations to policyholders. For more information about A.M. Best, visit www.ambest.com.
  3. The rating scale is:
    Secure
    A++, A+ Superior
    A, A- Excellent
    B++, B+ Good
     
    Vulnerable
    B, B- Fair E Under Regulatory Supervision
    C++, C+ Marginal F In Liquidation
    C, C- Weak S Suspended
    D Poor
  4. Sovereign's financial statements are available on request.

Information privacy

  1. Any information that you submit over this website will be used by us to provide you with information about our products and services, to process your registration for Free Life Insurance, and to administer your policy including processing of any claims.
  2. If you contact us to arrange to speak to an adviser, you consent to us disclosing your personal details to one of our external advisers so that they can contact you directly. If you are a current ASB customer, your details will be passed on to an ASB Insurance Manager.
  3. The intended recipients of the information are the Sovereign group of companies. Any personal information you submit over this website is being collected and will be held by Sovereign Services Limited, 74 Taharoto Road, Takapuna, Auckland 0622.
  4. You have rights under the Privacy Act 1993 to access and correct any personal information you submit.

Terms and conditions for the website

Thank you for using this Sovereign website ('Website'). Below you will find the terms of use for the site.

The domain name for the Website is owned by the Sovereign group of companies ('Sovereign'). The Website, content and all products and services available through the Website are owned and operated by companies within the Sovereign group. By accessing and using the Website you unconditionally agree to be bound by the following terms and conditions of use ('Terms').

Variation of terms

Sovereign reserves the right to vary the information on the Website, including these Terms, at any time without notice. Please check these Terms periodically for changes. Your continued use of the Website following the posting of any changes to the Terms indicates your acceptance of those changes.

Jurisdiction

The contents of the Website have been prepared in accordance with New Zealand law for the supply of products in New Zealand only. The contents of the Website are governed by New Zealand law and New Zealand courts have exclusive jurisdiction in relation to the Website. This Website is for access and use by persons resident in New Zealand only.

The distribution of information contained on the Website may be restricted by law in some countries. The information does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorised or to whom it is unlawful to make such an offer or solicitation.

Products

The information on this Website is not an offer by Sovereign to enter into a contract with you, except where expressly stated. You should carefully read the applicable terms and conditions before registering for any promotion or applying for any product or service made available through this website.

Use of the site

The information provided by the Website is of a general nature. While we have endeavoured to ensure that the content and material on the Website is correct, Sovereign does not warrant its accuracy, reliability, completeness or that it is up to date. In no event shall Sovereign be responsible for any loss or damage of whatever kind arising out of access to, use of, or reliance on any information contained on the Website.

Your use of the Website is at your own risk. You agree that Sovereign is not responsible for any damage or harm arising out of your use of the Website. You also agree that all warranties, conditions and representations in respect of the Website (express or implied) are excluded to the fullest extent permitted by law. Neither Sovereign, nor any of its directors, officers, employees or agents, nor any other party involved in creating, producing or delivering the Website or any of its content, is liable for any direct, indirect, consequential, or special loss or damage (including loss of profits or opportunities and exemplary and punitive damages), which are excluded to fullest extent permitted by law, arising out of your access to, or use of or inability to use, the Website or arising from your reliance or non-reliance on the content available on or through the Website. To the extent permitted by law, you indemnify Sovereign from and against all actions, claims, suits, demands, liabilities, costs or expenses arising out of or in any way connected to your use of the Website.

Any dealings with any advertised or other third party appearing on the Website are solely between you and the advertiser or third party. Sovereign is not responsible or liable for any part of any such dealings.

Independent advice

You should seek your own professional advice as to the suitability of any product referred to on the Website. Sovereign does not recommend that you take up a particular product. The information on the Website does not take into account any person's particular circumstances. Nothing in this site shall be deemed to constitute financial or other professional advice in any way.

Intellectual property rights

Sovereign or its suppliers own all copyright and other intellectual property rights in the information contained in the Website or otherwise connected with the Website. No part of the Website may be reproduced, transmitted, stored or otherwise dealt with (including in any other Website or other electronic form) without the consent of Sovereign except that you may print, or download to your hard drive extracts from the Website for your own personal use.

Links to other websites

The Website may contain links to websites operated by parties other than Sovereign. Sovereign has no control over such websites or the content of such websites. Sovereign accepts no responsibility or liability in relation to any other websites or any content on any other websites. Your linking to any other website is at your own risk.

Hypertext linking

Under no circumstances are you to create a hyperlink to any of the pages on the Website, unless Sovereign provides you with its prior written consent to do so. If you do create a link to any of the pages on the Website, you acknowledge that you are responsible for all direct or indirect consequences of the link, and you indemnify Sovereign for all loss, damage, liability, costs or expense arising from or in connection with the link.

Privacy policy

Privacy statement

Any information that you submit over this Website will be used by the Sovereign group of companies to provide you with the information you request, to process your registration for Free Life Insurance, and to administer your policy including the processing of any claims. The intended recipients of the information are the Sovereign group of companies. Any personal information you submit over this Website is being collected and will be held by Sovereign Services Limited, 74 Taharoto Road, Takapuna, Auckland 0622. You have rights under the Privacy Act 1993 to access and correct any personal information you submit.

Website measurement

This Sovereign Website uses Google Analytics to monitor search behaviour and Urchin web analytics and reporting tool to measure traffic flows. Further information regarding Google Analytics can be found at www.google.com/analytics/ and information on Urchin can be found at www.panalysis.com.

Future changes

Changes in legislation, industry codes, the business environment, or the addition of new products and services to this site may result in changes to this privacy policy.