AIA sent its advisers a link to its online road show which had a video of each speaker and a powerpoint show.

It went for this approach because it dealt with travel and logistical challenges with advisers able to view the roadshow in their offices at any time that suited their business.

AIA product manager Grant Evitt says adviser feedback highlighted the need for a premium return product so it introduced Cash Back Life Cover (CBL).

CBL provides a lump sum paid in the event of death or up to 100% return of premiums at the end of the 20 year term meaning the cost of cover may be deemed "free".

AIA head of distribution and marketing Darrin Franks says it provides multiple choices for the insured regarding what they may choose to do with the premium return.

"For example parents may choose to contribute the return of premium to their child's tertiary education or a business may use the premium return as part of their succession planning."

 It has a guaranteed level premium for 20 years and the premium return options are available from year six.

From years six to 10 a 25% refund of premiums are paid if the policy is cancelled. In the years 11 to 15 a 50% refund, in the years 16 to 19 a 75% refund, with a 100% refund at 20 years.

The issue ages are 0 to 64 and the minimum sum assured is $20,000.

The other product AIA has launched is Farmers Revenue Protection (FRP) because it identified an opportunity to open a significant market.

Evitt says there are approximately 17,000 farmers in New Zealand and 64% of all farms are owner/operators. The agricultural industry employs an estimated 11.4% of the New Zealand workforce which includes around 60,000 people employed on sheep, beef and dairy farms.

Franks says it is traditionally a tougher area to insure given farm income structures.

"We have taken a simple approach, offering a replacement revenue policy of up to 30% of turnover to a maximum of $10,000 per month. This enables cash flow for replacement of lost skills or people."

He says the first $5,000 requires no financial evidence and is agreed value. Up to $10,000 there is full financial underwriting.

Those in occupation class 3 qualify which means they do not necessarily have to be farmers. It includes dairy, sheep, beef, mixed farming, orchadists, fisheries and also others.

Evitt says these two new products are unique in the market and appeal to specific demographics which means they can be targeted to drive new business sales.