Kristine Brooks
Zurich Financial Services Australia (Zurich) has announced details of a major revamp of its life insurance offering.
The first Zurich update for 2017 is designed to introduce more choice, value and quality into its range, with highlights including Term and TPD rate reductions, a simpler and more significant SmartValue bundling discount and significant enhancements to the flagship Wealth Protection suite.
Product enhancements include a fresh approach to Total and Permanent Disablement (TPD), with the introduction of new non-occupation based assessment criteria, and a more flexible super optimiser facility.
In previewing the changes, Kristine Brooks, Head of Distribution for Zurich’s Life and Investments business said Zurich was excited to be delivering on its promise to bring to market a ‘best of breed’ offering, through its first major product update since acquiring the Macquarie Life risk business last October.
“This update is the culmination of many months of working with advisers, determining how we could best equip them to succeed in a rapidly changing marketplace,” said Ms Brooks.
“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.
“There are also a number of product improvements which will enhance the quality and flexibility of our offering.
“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.
“Our on-sale range now includes our flagship Wealth protection offering, the severity based Active solution, and Sumo, our VIP offering for high net worth clients, providing advisers more ways to truly tailor their advice to the needs of their clients,” said Ms Brooks.
More detail on the enhancements is available at Zurich.com.au/matchfit