{"id":27,"date":"2008-08-23T17:30:45","date_gmt":"2008-08-23T07:30:45","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=27"},"modified":"2008-08-26T23:54:07","modified_gmt":"2008-08-26T13:54:07","slug":"zurich-superannuation-plan-risk-products-enhancements","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2008\/08\/23\/zurich-superannuation-plan-risk-products-enhancements\/","title":{"rendered":"Zurich Superannuation Plan Risk Products Enhancements"},"content":{"rendered":"<p>Zurich Australia has announced a set of enhancements to the optional risk products available through its Zurich Superannuation Plan (ZSP).<\/p>\n<p><!--more-->The enhancements mainly surround the introduction of Superannuation versions of the Zurich&#8217;s Income Protection range, specifically:<\/p>\n<ul>\n<li>Zurich Income Replacement Insurance Plus<\/li>\n<li>Zurich Special Risk Income Replacement Insurance Plus<\/li>\n<\/ul>\n<p>Zurich advises that the Optional Product Benefits written under superannuation (ZSP) differ from those normally available under the company&#8217;s Wealth Protection range because:<\/p>\n<ul>\n<li>A ZSP can only include one life insured<\/li>\n<li>Policy Owner is always ZSMF (as per Zurich Superannuation Term Life Insurance Plus)<\/li>\n<li>There is no life risk management fee on ZSP<\/li>\n<li>All premium rates are the same as for WP<\/li>\n<li>Payment frequency is always monthly (deducted from the fund account)<\/li>\n<li>Full choice of commission options is available<\/li>\n<li>Loyalty Discounts now apply to WP and ZSP<\/li>\n<\/ul>\n<p>The three main product differences under ZSP are that:<\/p>\n<ul>\n<li>Only the Indemnity product is available to be written<\/li>\n<li>The total benefit paid under the cover for any given month will be capped so that the amount paid in total does not exceed 100% of the claimant&#8217;s Pre-Disability Income<\/li>\n<li>Sick leave can be offset<\/li>\n<\/ul>\n<p>Enhanced lump sum product features have also been included in the new SPDS:<\/p>\n<ul>\n<li>TPD cover can now exceed the amount of Death cover<\/li>\n<li>The cover expiry age for Death cover and TPD cover has increased from age 75 to age 99<\/li>\n<li>Optional Protection Benefits are now eligible for Loyalty Discounts when taken as new business after 15 August 2008 or when a trigger event occurs)<\/li>\n<\/ul>\n<p>A copy of the Supplementary PDS can be found in the <a href=\"https:\/\/riskinfo.com.au\/resource-centre\/category\/zurich-product-disclosure-statements\/?resource=current\" target=\"_self\">riskinfo Resource Centre<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zurich Australia has announced a set of enhancements to the optional risk products available through its Zurich Superannuation Plan (ZSP).<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27","post","type-post","status-publish","format-standard","category-products"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/27","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=27"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/27\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=27"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=27"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=27"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}