TAL has launched a new function allowing clients to upgrade their insurance cover online, cutting out additional paperwork both for the clients and their advisers.
According to a statement, the service, known as Cover Upgrade Express, will allow customers to quickly increase their life insurance, TPD insurance and critical illness insurance.
The service allows clients to upgrade their cover online without underwriting, and to take advantage of the guaranteed future insurability (GFI) benefit feature of their policy, the statement said.
TAL's general manager of retail distribution, Niall McConville, said GFI allows policies to be increased following life events such as buying a house, finishing a postgraduate degree or having a child.
"Clients are notified of their eligibility at policy renewal time and can action their upgrade without new evidence of health or pastimes," he said.
"It is an easy self-service online process."
Cover Upgrade Express will be available for eligible Accelerated Protection Policy customers under 55 years of age, the statement said.
Royal commission witness and former adviser Sam Henderson has been sentenced in ...
The corporate regulator has said it will soon release a consultation paper that ...
New research has revealed the technology types advice firms are most keen to ado...