AMP has added BT and MetLife to its suite of life insurance providers for all its licensees.
A statement from the company says that its panel consists of five “market-leading providers”: AIA, BT, MetLife, OnePath/Zurich, and TAL, with BT and MetLife the new additions.
The company says that for the first time, the approved product list (APL) will also be common across all AMP’s licensees – AMP Financial Planning, Hillross and Charter.
AMP Director of Adviser Partnerships Brian George says the company’s advice research team undertook a rigorous industry review and tender process in selecting these insurers.
“Clients and advisers will benefit from a competitive choice of policies and the enhanced service levels these insurers are offering, including claims resolution and support, technology support (including data feeds, shared portals), licensee-centric reporting, education and technical support, and future product development,” he says.
AMP adds that existing life policies held by clients with insurers not on the APL will not be affected by the changes. Its APLs are reviewed at least annually.
