Life insurer TAL has updated one of its series of life insurance products in an attempt to bring more options and flexibility for advisers.
Some of the new features available through its Accelerated Protection series, according to TAL, include:
- Pricing changes for new business, such as improved pricing for customers who bundle their cover;
- Enhanced critical illness insurance, including 22 updated medical definitions and improvements to the Guaranteed Future Insurability benefit for all lump sum benefits and the ability to apply Double Critical Illness on both attached and linked policies;
- A new TPD insurance continuation option, including a new continuation option for white-collar occupations, allowing up to $1 million of Any Occupation cover to continue to age 70 and added flexibility with Double TPD on both linked and attached policies; and
- New business expense option within income protection designed to remove complexity and offer a unique solution for sole traders. The option covers all reasonable business expenses, including the variable expenses such as the cost of a replacement employee.
TAL general manager of retail distribution Niall McConville said the new upgrade means more opportunities for advisers to better support their customers and grow their businesses.
“We are always working to improve our products so advisers can be even more confident in their recommendations to their customers,” Mr McConville said.
“This continuous improvement ensures advisers’ customers have the cover they need now and into the future.”