This offer is promoted by Medical Assurance Society New Zealand Limited (“MAS”) and administered and provided by Medical Life Assurance Society Limited (“MLA”) and Medical Funds Management Limited (“MFM”), together the MAS Group. MFM is the Manager and issuer of MAS Investment Funds.  

Offer period 

The MAS Investment offer starts on 1 September 2025 and ends on 31 December 2025. 

By taking out a Relevant Policy (as defined below), you accept these terms and conditions. 

“You” refers to the “Nominated Policy Owner”. Nominated Policy Owner means the policy owner who has been nominated to receive all the correspondence for the Relevant Policy on the MLA Professional Life Plan and Income Security application form. 

The offer 

The offer is a $500 contribution into a MAS Investment Funds account (“the Offer”). The Offer is available through MAS to Nominated Policy Owners who meet the offer criteria below. 

Nominated Policy Owners can opt out of the Offer by notifying MAS at the time of taking out the Relevant Policy. 

Offer criteria 

This Offer applies to new MLA Professional Life Plan (PLP) and Income Security (IS) policies with at least one new eligible cover type applied for within the offer period (Relevant Policy) and issued within 6 months of the date the application is received by MAS. 

The Offer is one contribution of $500 deposited into a MAS Investment Funds account of the Nominated Policy Owner of a Relevant Policy purchased during the Offer period (MAS Contribution). Nominated Policy Owners are only eligible to receive one MAS Contribution during the Offer period, no matter how many Relevant Policies they are nominated on. Only one MAS Contribution will be made per Relevant Policy issued and paid for, regardless of the number of policy owners.  

After the Relevant Policy has been in force for at least 30 days, with premium payments up to date, the MAS Contribution will be made in accordance with the “Receiving the Offer” terms below. 

You must be aged 18 and over and you must meet the Offer criteria above. 

All applications for new cover are subject to MLA’s underwriting criteria and acceptance. Acceptance is not guaranteed, and policy terms and conditions apply.  

The Offer is not transferable and cannot be exchanged for cash or other goods. 

Exclusions 

The offer does not apply to: 

  • Business Life Plan (BLP) policies. 
  • Any existing MLA insurance policy which is cancelled and then re-issued during the offer period 
  • Transfers of any existing MLA product to a Relevant Policy type. 
  • Any renewals of existing MLA policies or cover.  
  • Any increase(s) to the sum insured of an existing cover type under a previously issued MLA policy. 
  • Purchase or placement of any other cover or products offered by the MAS Group.  
  • Policies purchased by companies, trusts, or other entities. 
  • Members who are ‘lives insured’ and not policy owners. 
  • Policy owners who are not Nominated Policy Owners.  
  • New MLA policies or covers that are issued and cancelled within 30 days. 

Receiving the Offer 

MAS is solely responsible for making the MAS Contribution in accordance with these terms and conditions.  

MAS will aim to make the MAS Contribution in the month following the date the 30-day requirement has been met. MAS anticipates that contributions will be made monthly on or around the 20th of the month starting from September 2025. The actual date MAS will make a MAS Contribution will be determined by reference to the 30-day requirement to keep the Relevant Policy in force with premiums up to date as outlined in the Offer criteria section above.  

To receive a MAS Contribution, you must be an account holder of a MAS Investment Funds account.  

If you are not already an account holder, you must open a MAS Investment Funds account within 60 days of meeting the 30-day requirement to keep the Relevant Policy in force.   

You can do this by reading the MAS Investment Funds Product Disclosure Statement and completing an application form, either using the form at the back of the PDS or via the online application form available at MAS Investment Funds. 

To become a member of MAS Investment Funds you must meet all eligibility criteria, including completing an application form and satisfying all customer due diligence requirements for new accounts prior to the MAS Contribution being made. MFM or MAS may request additional documentation to verify eligibility. 

Where the Nominated Policy Owner opens a joint or individual MAS Investment Funds account in their name after taking out a Relevant Policy, MAS will automatically make the MAS Contribution into that account. 

Where the Nominated Policy Owner already has a MAS Investment Funds account in their name either jointly or individually, MAS will send a link for the Nominated Policy Owner to confirm which account the Nominated Policy Owner would like the MAS Contribution made into. 

MAS Contributions will be made in accordance with the selected future investment strategy for the MAS Investment Funds account. 

Where MAS is unable to confirm that you have set up a MAS Investment Funds account in your name either jointly or individually, or MAS does not receive a nominated account from you, MAS will endeavour to remind you to provide this nomination. If MAS needs further information to make the MAS Contribution, MAS will make reasonable efforts to contact you. If MAS is unable to contact you before within 60 days of you meeting the 30-day requirement to keep the Relevant Policy in force, then MAS will not be liable to make a MAS Contribution.  

Members are able to withdraw funds from their MAS Investment Funds account in accordance with the terms and conditions of the Funds. 

Your personal information 

By taking out a new MLA policy and/or opening a MAS Investment Funds account, the MAS Group will collect your personal information and the personal information of any additional policyholder(s), insured persons or members.  

You have the right to check and correct any information you provide to enter this Offer.  

We will hold and use the information you provide in line with the MAS Privacy Statement. 

MLA policies are underwritten and issued by MLA and distributed through MAS.  

Tax 

No company in the MAS Group is liable for any tax customers may need to pay in receiving the MAS Contribution. Members should consult a tax professional as tax implications will depend on personal circumstances. 

Other conditions 

We may change, extend, or cancel the Offer or these terms and conditions at any time without notice. 

MAS may refuse to make a MAS Contribution to a person who, in the MAS Group’s reasonable view, has acted fraudulently or not complied with these terms and conditions. 

This Offer and these terms and conditions are exclusively governed by the laws of New Zealand.