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Low number of life claims from earthquake

Fidelity Life has received only a small number of life insurance claims from the second Christchurch earthquake.

CEO Milton Jennings says the company has received 15 claims since the first earthquake in September and more than 20 people have applied for its “hardship” package.

The package offers a three-month premium holiday with cover remaining in place to enable policyholders to claim, and Fidelity will also make early payments for valid disability claims during the waiting period.

Fidelity’s own central Christchurch office was damaged by the recent earthquake, although all the company’s staff are safe.

“Hopefully we will be able to get into the office so we can assess the damage, but the building itself is cracked, with plaster falling off, and it has clearly moved a lot,” Mr Jennings told insuranceNEWS.com.au.

“At this stage it looks like we may be relocating our office to share space with an adviser.”

Meanwhile Fidelity and OnePath have each donated $NZ15,000 ($11,000) to an Institute of Financial Advisers fund which will help Christchurch residents to sort out their financial affairs.

insuranceNEWS.com.au approached AMP, Tower and AIA but had received no replies before our publication deadline.