The wealth giant has confirmed it will now offer five life insurance providers on its approved product list across all its associated advice groups.
In a statement, AMP said it had introduced an “enhanced suite of life insurance providers” for clients of its aligned advisers.
The group said it had added BT and MetLife to existing product options from AIA, OnePath/Zurich and TAL.
AMP said it had made this move across its dealer groups AMP Financial Planning, Hillross and Charter to align APLs across the groups for the first time.
“Our advice research team undertook a rigorous industry review and tender process in selecting these insurers,” AMP director of adviser partnerships Brian George said.
“Clients and advisers will benefit from a competitive choice of policies and the enhanced service levels these insurers are offering, including claims resolution and support, technology support, licensee-centric reporting, education and technical support, and future product development.”
AMP said existing life insurance policies held by clients with insurers not on the APL would not be affected by the changes.
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