Specialist life insurance company, PPS Mutual has updated a number of medical definitions for serious medical conditions and expanded some of the benefits within its Professionals Choice product range.
The key change, which will apply to all existing and new policies, is moving from a 12-month to a 24-month terminal illness definition within its life cover. Further enhancement have also been made to a range of trauma definitions including prostate cancer, stroke and coronary artery bypass surgery.
The insurer has also extended its Business Expenses benefit payments allowing policy holders to access additional payments after the first 12 months of an initial claim in the event they have not reached their full benefit entitlement.
PPS Mutual Director of Proposition, Matthew Pilcher said the enhancements had been passed back to all members of the mutual insurer meaning all members were on the same product series.
In related news, Richard Hopwood has joined the insurer as Queensland State Manager, moving across after five years with ANZ Wealth where he was most recently Business Development Manager for Life Risk.
In that role he was responsible for managing relationships between key stakeholders as well as providing product and technical training to advisers, and at PPS Mutual Hopwood will manage financial adviser relationships and support the PPS Mutual proposition in Queensland.
He will report to PPS Mutual Director of Distribution, Brian Pillemer and his appointment as State Manager follows that of Sabrina Sequeira-Walmsley as NSW State Manager in July (see: PPS Mutual Key Appointment).
