BT Financial Group (BT) has made changes to existing insurance products in order to provide increased insurance coverage for clients and streamline their methods of applying for life insurance, as well to improve processes for advisers.
Among the enhancements to Westpac Protection Plans and BT Life on Wrap are a new total and permanent disablement (TPD) partial benefit, a life premium benefit waiver for clients who have a term life policy with a disability benefit, and new conditions to pay benefits, including greater coverage of diabetes-related illnesses and a broadened definition of ‘cancer’.
BT’s head of life insurance, Phil Hay, said, in particular, their “broader definitions for a range of illnesses” will assist them in protecting clients throughout their life stages.
BT will be providing advisers with a comprehensive pack detailing the changes over the coming weeks.
