In a market first, CommInsure is now covering advanced diabetes under its standard trauma policy as part of a suite of enhancements to its retail risk insurance range.
As well as introducing 23 product improvements, which include cover for female-specific trauma conditions, CommInsure has also reduced premiums across life, total and permanent disability (TPD) and trauma by up to 15 per cent for some clients.
“In early 2006, after consultation with financial advisers, we set ourselves an aggressive timetable of three product upgrades in 18 months,” CommInsure managing director Simon Swanson said.
“This has ensured that our products and services now meet and exceed market expectations.”
As part of its review, CommInsure’s Trauma Plus policy now pays a partial benefit for 10 additional events, on top of the previous 48.
The insurer is also taking a unique approach to melanoma and diabetes complications by paying 40 per cent of the sum insured, up to $200,000.
Furthermore, CommInsure has introduced a standalone TPD policy which has a feature that allows clients who have suffered a TPD to purchase life cover without further underwriting 12 months after the TPD benefit has been paid.
It has also announced a new standalone Accidental Death Cover, which allows clients to take out up to $1 million worth of cover, without any requirement for underwriting.
