TAL has upgraded its Accelerated Protection product suite, and introduced a range of newly enhanced services to assist advisers and their clients.
In recognition of the fact that 70% of all life insurance is purchased within a superannuation structure, TAL said it has developed a new income protection product structure that provides customers with the flexibility of cover both in and outside of super.
The new Superlink IP structure allows customers to link an Income Protection Super policy to an Income Protection Standard or Premium policy outside of super. According to TAL, this provides the value and tax advantages of income protection within super, but the benefit of highly featured cover outside super.
Other enhancements include:
- A series of new critical illness benefits relating to heart conditions to be made available to new and existing customers (where available)
- The income protection benefit ‘to Age 70’ is now available for many occupation classes via the TAL Superannuation and Insurance Fund and platform super
- Service changes that streamline the tele-interview booking process, almost eliminating cancellations and fast-tracking application completion
TAL Life General Manager Retail Insurance, Gavin Teichner, said the changes were aimed at improving the adviser and customer experience.
“TAL is committed to building on the existing strength and long-term sustainability of its product and service offering,” Mr Teichner said.
“The new features of Accelerated Protection coupled with the new service elements are all designed to make life easier for advisers and customers.”
He said the product enhancements will all be available to existing customers, where possible.
“We’re always looking to build on our strengths to deliver high quality outcomes for our customers,” Mr Teichner said.
“Our focus with this upgrade has been to deliver long-term and sustainable insurance solutions, and to ensure that our current customers don’t miss out on these enhancements where available.
“At TAL, our aim is to help everyday Australians protect the things they love and value and make it easy for them to do so.”
Click here to view a copy of the new Accelerated Protection PDS, located in our Resource Centre.
