Asteron Life launches Complete Insurance Package for IFAs
Good news for advisers, good news for customers
Asteron Life today launched a comprehensive and simplified life insurance package, ‘Asteron Life Complete’, with product improvements to make insurance simpler and more affordable for customers, and leading-edge technology to help streamline independent financial advisers’ (IFAs) business.
Jordan Hawke, Asteron Life Executive General Manager, Adviser Distribution said: “Advisers have told us that they lead with IP. So we’ve responded to their needs and made income protection more affordable by reducing pricing by up to 30 per cent for selected occupations. In an industry where the trend is for increases in IP pricing, Asteron Life bucks that trend by making our IP offer more reasonably priced and comprehensive to our customers.
“As a life risk specialist aligned to IFAs, we’ve redesigned our whole offer with a number of enhancements to make it a simpler insurance solution for advisers. In recognising the need for advisers to grow their business, we’ve also developed a next-generation technology platform to create back-office efficiencies for advisers, enabling them to spend less time on paperwork and see more of their clients.
“Asteron Life was rated by NMG as the number-one life insurer in NMG’s 2011 Business Quality Index, and number-one in relationships with AFSLs1. While we already have a strong offer, we’ve built on that through an innovative insurance solution for IFAs, which is a complete package underpinned by a quality product, competitive pricing, market-leading terms, streamlined technology and a service offering second to none.
“Asteron Life Complete is based on direct feedback from our advisers on what they want from a life risk specialist. It represents our promise to continue supporting advisers to position their business for growth in a challenging industry, and make protecting their clients’ financial security an easy partnering choice.”
KEY FEATURES & BENEFITS OF ‘ASTERON LIFE COMPLETE’ FOR ADVISERS:
1. Comprehensive, more affordable and simplified Income Protection range, with reduced pricing for many occupations (including selected white collar professionals and skilled tradespeople), and ages.
2. Market-leading Terms and Definitions, providing certainty to advisers and their clients. These new terms include:
- A new definition for Heart Attack, now including ‘silent’ (minor) heart attack, and
- A new definition for Early Stage Breast Cancer, with full payment for lumpectomy followed by adjuvant therapy2 Leading Disability definition for all occupation classes.
3. Flexible Lump Sum design for Life Cover held inside & outside superannuation, including:
- New flexible linking (linking TPD or Trauma to Life Cover Super), and
- New Split TPD (split Any-Occupation TPD inside Super and Split Own Occupation TPD outside Super).
4. Policy terms created specifically for Medical Professionals, including Needle-stick and Medical Hazards cover (for HIV & Hepatitis B or C).
5. Rehabilitation benefits for Self-Employed professionals, including Business Rehabilitation Benefit and Return-to-Business Benefit.
6. Discount for healthy lives via the ‘Healthy Lives Option’, which offers a 10% discount, for life, on Life Cover. The discount is based on an assessment of BMI and family history, but requires no blood tests.
7. Easy-to-use Adviser technology, supporting IFAs with an enhanced quotation system, e-applications system and new adviser website, making establishing new business easy.
8. Commitment to service and support.
The Asteron Life Complete product will replace Asteron Life’s Lifeguard series from 5 March 2012.
Kicking off in Sydney today, Asteron Life’s national roadshow (running from 21 February to 22 March) will officially launch the market-leading product and supporting technology platform to IFAs.
Locations for Asteron Life’s Next Generation Life Insurance Roadshows:
In your capital city, Tuesday 21 February to Thursday 8 March:
In your regional centre, Monday 5 March to Thursday 22 March:
To interview Jordan Hawke from Asteron Life, contact Helen Han on: 0457 535 639.
About Asteron Life:
Asteron Life is a specialist provider of life insurance to financial advisers in Australia and New Zealand and is a part of the Suncorp Group. Asteron Life’s broad range of life insurance products has been designed to protect customers, their families and businesses against the financial impacts of death, sickness or injury. For further information, visit: www.Asteronlife.com.au
1 NMG Insights Report – 2011 Australia Life Risk
2 Adjuvant therapy includes treatment to keep cancer from returning, such as chemotherapy, radiation therapy, hormone therapy or immunotherapy.