{"id":49345,"date":"2020-03-31T16:25:12","date_gmt":"2020-03-31T05:25:12","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=49345"},"modified":"2024-10-17T14:15:59","modified_gmt":"2024-10-17T04:15:59","slug":"new-round-of-pds-releases-as-agreed-value-ip-closes-to-new-business","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2020\/03\/31\/new-round-of-pds-releases-as-agreed-value-ip-closes-to-new-business\/","title":{"rendered":"New Round of PDS Releases as Agreed Value IP Closes to New Business"},"content":{"rendered":"<p>APRA indicated late last year that it expected life companies to discontinue writing agreed value DII contracts by March 31 2020 (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2019\/12\/03\/apra-demands-new-course-for-ip-sustainability\/\" target=\"_blank\" rel=\"noopener noreferrer\">APRA Demands New Course for IP Sustainability<\/a>).<\/p>\n<p>Insurers have subsequently released new PDSs or SPDSs to reflect the cessation of offering new agreed value income protection policy options, as directed by the corporate regulator.<\/p>\n<p>At the time of going to press those insurers releasing new PDSs include:<\/p>\n<ul>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/aia-priority-protection-pds-010420\/\" target=\"_blank\" rel=\"noopener noreferrer\">AIA Australia &#8211; 1 April 2020<\/a><\/li>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/integrity-life-here-for-you-pds-010420\/\" target=\"_blank\" rel=\"noopener noreferrer\">Integrity Life &#8211; 1 April 2020<\/a><\/li>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/neos-life-protection-pds-010420\/\" target=\"_blank\" rel=\"noopener noreferrer\">NEOS Life \u2013 1 April 2020<\/a><\/li>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/onepath-onecare-pds-010420\/\" target=\"_blank\" rel=\"noopener noreferrer\">OnePath &#8211; 1 April 2020<\/a><\/li>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/tal-accelerated-protection-pds-and-policy-document-270320\/\" target=\"_blank\" rel=\"noopener noreferrer\">TAL &#8211; 27 March 2020<\/a><\/li>\n<li><a href=\"https:\/\/www.zurich.com.au\/content\/dam\/au-documents\/personal\/life-insurance\/zurich-wealth-protection-pds.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Zurich Wealth Protection &#8211; 1 April 2020<\/a><\/li>\n<li><a href=\"https:\/\/www.zurich.com.au\/content\/dam\/au-documents\/personal\/life-insurance\/zurich-active-pds.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Zurich Active &#8211; 1 April 2020<\/a><\/li>\n<li><a href=\"https:\/\/www.zurich.com.au\/content\/dam\/au-documents\/personal\/life-insurance\/zurich-sumo-pds.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Zurich Sumo &#8211; 1 April 2020<\/a><\/li>\n<\/ul>\n<p>Meanwhile, insurers releasing Supplementary PDSs include:<\/p>\n<ul>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/clearview-life-solutions-pds-011018-spds-120320\/\" target=\"_blank\" rel=\"noopener noreferrer\">ClearView &#8211; 12 March 2020<\/a><\/li>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/comminsure-protection-combined-pds-230918-spds-010420\/\" target=\"_blank\" rel=\"noopener noreferrer\">CommInsure &#8211; 1 April 2020<\/a><\/li>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/metlife-protect-pds-and-policy-terms-221219-spds-010420\/\" target=\"_blank\" rel=\"noopener noreferrer\">MetLife &#8211; 1 April 2020<\/a><\/li>\n<li><a href=\"https:\/\/riskinfo.com.au\/resource-centre\/product-disclosure-statements\/mlc-insurance-and-mlc-super-spds-010420\/\" target=\"_blank\" rel=\"noopener noreferrer\">MLC Life Insurance &#8211; 1 April 2020<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>APRA indicated late last year that it expected life companies to discontinue writing agreed value DII contracts by March 31 2020 (see: APRA Demands New Course for IP Sustainability). Insurers have subsequently released new PDSs or SPDSs to reflect the cessation of offering new agreed value income protection policy options, as directed by the corporate [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":49357,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-49345","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-products"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/49345","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=49345"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/49345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/49357"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=49345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=49345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=49345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}