Macquarie Issues Updated PDS

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Macquarie Life has issued an updated PDS for its FutureWise product suite.

The changes relate to Disability Income and Business Expenses insurance, and are effective from 17 November 2014.

Macquarie has adjusted the wording of the policy terms for Disability Income when taken out with Business Expenses (Key Person Replacement) with a one year waiting period. The changes mainly relate to offset wording and claim definitions.

In addition, the Disability Income Super-only product information was previously delivered via a supplementary PDS. The content of the supplementary document has now been incorporated in the PDS without changes to the terms and conditions of the insurance.

The update follows the insurer’s June 2014 upgrade, in which changes were made to align with the amended legislation relating to the conditions of release for insurance inside super.

No changes have been made to Macquarie’s Life Active and Sumo products. Pricing and occupation ratings also remain the same.

For a copy of the new PDS, click here to visit the riskinfo Resource Centre.



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