In what it refers to as a ‘world first’, Macquarie Life has launched an online toolkit designed to assist advisers introduce tiered or severity-based insurance cover to their clients.
The toolkit, Macquarie Life Active Body, is intended to enable advisers to focus on specific medical conditions with their clients using simple, common-sense language and images.
Macquarie says the aim of the online toolkit is to:
- Demystify the medical elements of life insurance
- Provide transparency on severity based claims
The main feature of the toolkit is a Health Events human anatomy and pathology visual. This visual explains the impact of various conditions on body systems, including major organs of the male and female body.
Advisers and clients can navigate through different health events, grouped under headings including Cancer, Heart and Musculoskeletal, and see the amount of cover applicable under Macquarie Life Active.
Macquarie Life’s Head of Underwriting and Claims, Dr Sally Phillips, said the idea for the toolkit grew directly out of adviser feedback and demand.
“Macquarie Life Active brought a new category of life insurance cover to the market, and as expected that also brought a greater demand for education; help for advisers to understand the product and be able to communicate its benefits clearly to their clients.”
“We listened to advisers when they told us of the challenges they face in explaining life insurance to their clients, and out of this we recognised an overwhelming demand for simplicity, particularly in terms of explaining medical conditions,” added Dr Phillips.
“They asked for something that was user-friendly, would cut through medical terminology and most of all would appeal to their clients. We responded with Macquarie Life Active Body,” she said.
The online toolkit also contains case studies, which dynamically illustrate the way claims are paid for a Macquarie Life Active customer, and a resource centre which includes the PDS and policy terms.
