February 6, 2018
ANZ has reintroduced a large case discount that will offer a lifetime 10 per cent premium discount to new applications for life cover, where the minimum level of cover is $1.5 million or more.
The offer, which is effective from 27 November 2017 to 30 June 2018, will apply to new applications made for life cover via OneCare or OneCare Super and for any TPD and/or trauma cover that will be linked to the life cover.
The discount is an upgrade on OneCare’s existing Large Case Discount Service which offers a discount up to 5 per cent where the minimum sum insured is $2.5 million and a lower-priced competitor quote is supplied.
Under the upgraded discount offer, advisers will not have to supply a competitor’s quote, and the 10 per cent premium discount will apply for the life of eligible policies and will be in addition to any existing OneCare size, packaging, and multi-cover discounts.
According to ANZ Wealth, the discount would be calculated automatically by OneCare’s Illustrator software before any applicable taxes and policy fees are applied, and any commission payable to advisers would be based on the premium after the 10 per cent discount had been applied.
A similar discount was last offered by OneCare in mid-August 2016 through to mid-March 2017.