PPS Mutual unveils innovative underwriting offer, saving Members valuable time
PPS Mutual has announced an innovative underwriting solution to optimise existing Member experience for time poor professionals when applying for certain risk insurance products.
PPS Mutual Members who hold in-force Income Protection benefits are now eligible to apply to add or increase Life, Total and Permanent Disability (TPD) or Trauma cover without requiring mandatory medical evidence.
The changes simplify the application process for existing Members who want to acquire Life, TPD or Trauma cover with PPS Mutual, effectively minimising their time burden.
Maximum benefit amounts
The offer enables Members to receive a maximum Life cover benefit of up to $3,000,000; TPD cover of up to $3,000,000; and Trauma cover (linked to Life or TPD) of up to $1,500,000 (or cover amounts equivalent to the amount that the medical evidence on record supports). Cover amounts in excess of these maximum benefit amounts would be subject to a full application and underwriting.
PPS Mutual’s Head of Underwriting and Claims Management Marcello Bertasso, describes the offer as “the latest advancement in PPS Mutual’s commitment to continually improve and innovate their Member experience.”
“Reducing the time and effort of providing mandatory medical evidence is part of our mission to remove ‘underwriting friction’ where possible and optimise our Members’ experiences.”
“This offer aligns with our mutual based value of putting our Members needs front and centre, whilst simultaneously maintaining a sustainable approach to our overall risk pool,” Mr Bertasso said.
Eligibility
Members with Income Protection (IP) benefits issued on or after 1 July 2019 (where loadings do not exceed +100% extra morbidity) will qualify.
This offer is available between 1 May 2021 and 30 June 2022, provided the applications for benefits is submitted and accepted during this period.
PPS Mutual products are offered exclusively through PPS Mutual accredited advisers.
