Zurich has announced its first major update to its life insurance product range since acquiring Macquarie Life's risk business in October last year.
Product enhancements include a new approach to TPD with the introduction of new non-occupation based assessment criteria and a more flexible super optimiser facility, according to a statement.
In addition, there are also rate reductions for Term and TPD products, a simpler and more significant SmartValue bundling discount and enhancements to the Wealth Protection suite.
Zurich head of distribution for retail life and investments, Kristine Brooks, said the insurer worked with advisers for months in determining how it could best equip them to succeed in a rapidly changing marketplace.
“Affordability and value for money repeatedly came across as top priorities, and so we are pleased to be able to support advisers with generous Term and TPD rate reductions, along with a much simplified and easier to qualify for SmartValue bundling discount,” Ms Brooks said.
“Plus, under Zurich’s upgrade guarantee, improved trauma definitions are being passed back to all existing Wealth Protection customers, giving them increased confidence that their cover is the most up-to-date available.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Oct 2017Parliamentary insurance group formedBy Staff Reporter
- 20 Oct 2017Treasurer introduces BEAR legislationBy Aleks Vickovich
- 20 Oct 2017Westpac to refund $65m to customersBy Annie Kane
- 20 Oct 2017Survey tips independent takeoverBy Aleks Vickovich and Jessica Yun
- 18 Oct 2017AFA suffers budget blowoutBy Killian Plastow
- 18 Oct 2017ISA ups ante on governance lobbyingBy Aleks Vickovich
- view all