{"id":31807,"date":"2015-12-01T18:31:02","date_gmt":"2015-12-01T08:31:02","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=31807"},"modified":"2015-12-02T02:38:24","modified_gmt":"2015-12-01T16:38:24","slug":"zurich-reduces-premiums-as-new-ip-products-offered","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2015\/12\/01\/zurich-reduces-premiums-as-new-ip-products-offered\/","title":{"rendered":"Zurich Reduces Premiums as New IP Products Offered"},"content":{"rendered":"<p><span style=\"line-height: 1.5em\">Zurich Financial Services Australia has rolled out a range of new Income Protection products while reducing new business premium rates for Term and TPD cover by 6%.<!--more--><\/span><\/p>\n<p>The insurer said the moves were designed to help advisers position themselves for the introduction of the LIF in mid-2016 and include recent news that some premiums would be frozen from that time.<\/p>\n<figure id=\"attachment_24149\" aria-describedby=\"caption-attachment-24149\" style=\"width: 150px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2013\/12\/Phil-Kewin-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-24149\" alt=\"Zurich's Philip Kewin\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2013\/12\/Phil-Kewin-2.jpg\" width=\"150\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-24149\" class=\"wp-caption-text\">Zurich&#8217;s Philip Kewin<\/figcaption><\/figure>\n<p>Zurich, Life and Investments General Manager, <strong>Philip Kewin<\/strong> said that from 21 December 2015 Zurich would simplify its bundling and loyalty discounts and would \u2018enable advisers to access the most competitive rates all the time\u2019 across all products, tying this shift into the Term and TPD premium reduction.<\/p>\n<p>\u201cAs well as being easier to understand, this new proposition allows us to deliver increased value for customers, and is reflected in Term &amp; TPD new business rates that are 6% lower than our current rates for lives under age 55,\u201d Kewin said.<\/p>\n<p>\u201cThe changes we have made reflect a move towards simplifying our product range, pricing and execution to benefit advisers and their customers. We feel this sentiment has been lost in much of the recent industry dialogue.\u201d<\/p>\n<p>\u201cThe retail income protection market has faced many challenges in recent years, with rapidly deteriorating claims experience being reflected in a seemingly constant cycle of rate increases,\u201d he said.<\/p>\n<p>\u201cWith the launch of our new Income Protector range we hope to break this cycle with a design that focuses more on the core benefits of income protection and pricing which is more in line with the latest claims trends.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zurich Financial Services Australia has rolled out a range of new Income Protection products while reducing new business premium rates for Term and TPD cover by 6%.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,4],"tags":[],"class_list":["post-31807","post","type-post","status-publish","format-standard","category-company-news","category-products"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/31807","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=31807"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/31807\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=31807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=31807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=31807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}