ING Australia (ING) is set to release a raft of changes to its flagship OneCare risk products range, as it positions OneCare to ‘head back to the top’.
The insurer is releasing a supplementary Product Disclosure Statement (SPDS), effective from 1 March 2010. The SPDS details all the product enhancements which, according to the latest edition of ING’s Perspective Extra adviser publication, include:
- Broadening of the relationships eligible for a packaging discount
- Improved Own Occupation TPD definition
- Improved Any Occupation TPD definition
- Increased TPD partial payment for specific loss
- Introduction of a new Future Insurability personal event
- Introduced of a new three year increase option within Future Insurability
- Making Future Insurability available to more clients
- Removal of a restriction from the Life Cover exclusion
- Clarification of the Income Secure Cover capability clause
- Improved ‘Business expenses’ definition within Business Expense Cover
… these enhancements have been based on feedback [ING] has received from advisers
ING confirms these enhancements have been based on feedback it has received from advisers and will all be available with no changes to premium rates.
More details about the product and other process improvements will be made available very shortly. Advisers and paraplanners can download the 1 March 2010 SPDS from the Adviser Advantage online platform (via www.ing.com.au) from 24 February.
