Integrity releases 1st product update
New life insurance company Integrity Life has announced nine enhancements to its products as part of its latest technology release.
In a statement, Integrity noted that one of its enhancements include the ability for advisers to nominate another adviser to split their commission with, if for example, they partnered together or received a joint referral.
Other enhancements include:
- The choice of ownership types, including within super, allowing clients to split and combine covers across personal, business, SMSF and super and to take advantage of the 15 per cent rebate on premiums;
- The ability to select a two-year waiting period for income insurance, which has the effect of reducing their premium;
- A new Critical Illness Relapse option providing extra peace of mind when purchasing critical illness policies, allowing the cover to be reset after 12 months with the potential for additional benefits on the reset cover;
- The introduction of Life+ to offer reduced pricing for the life of the policy, where the life insured has a BMI of between 18 and 25, has never smoked and has no conditions which may result in a loading. Integrity believes this will apply to 30 per cent of new applications;
- A waiver of the premium for its Care Support Package when three covers are selected for the life insured and minimum sums insured are met; and
- New portal and system enhancements will allow ownership to align with their advised strategy.
Integrity Life managing director Chris Powell said that when it launched to the retail market, he prioritised its ability to be nimble, and the continual process of enhancing and improving the products and services we offer advisers and their clients.
“Being unconstrained by legacy systems and making full use of the best technology available means our focus can be on continual improvement,” Mr Powell said.
“We are delighted to be already demonstrating our commitment to providing innovative tailored insurance solutions that are in line with the needs of advisers and their clients.”
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