Asteron has announced details of the 2009 update for its Lifeguard Series 2 risk products range.
This update sees enhancements that are intended to consolidate the company’s April 2008 Lifeguard Series 2 Launch.
Asteron advises the focus of its May 2009 update is on specific client segments, particularly taking into account what the company refers to as the ‘current environment’.
Special Underwriting Offers
Asteron has expanded the occupations available to participate in the company’s special underwriting offer for key occupations, which was an initiative introduced in the April 2008 Lifeguard Series 2 launch:
- Newly qualified solicitors and eligible accountants now join medical practitioners and barristers in a special underwriting package that offers guaranteed benefit levels without the need for financial evidence at time of underwriting:
- Solicitors: $500,000 Death/TPD, $5,000 per month IP
- Accountants: $500,000 Death/TPD, $4,000 per month IP
(Note: Mandatory financial evidence waived but the application is subject to underwriting and disclosures on personal statement)
- Needlestick cover of up to $500,000 is now included in the special underwriting package for doctors and dentists
- Increase to the maximum income protection monthly benefit in a special offer for farmers, to $3,500 (previously $2,500 per month) and extension of the benefit period to age 65 (for certain farming occupations, Agreed Value contracts only)
Other initiatives include:
- A new 20% base premium discount on Recovery Package and Recovery Stand Alone for clients where a full cancer exclusion applies
- A new 15% base premium discount on income protection products for clients where a mental illness exclusion applies
- Reduction in the number of hours to 20 per week in order for a client to be eligible for TPD and income protection cover
These enhancements from Asteron apply with immediate effect and follow other services initiatives recently announced.
