Broad choice of features and flexibility
Broad choice of features along with the fully-underwritten nature of the product has seen First State Super win the Group Super Disability Income Product 2016 category.
Its product also beat Aon and AMIST, which came in second and third, respectively.
Additionally, the category saw a complete shift this year compared to last year in terms of its finalists who took to the podium.
First State Super's head of insurance, Sarina Aarons, said: "First State Super attributes their success to the broad choice of features within the public offer income protection product".
She added that thanks to the fully-underwritten nature of the product the company could provide a range of alternatives in waiting and benefit periods, as well as valuable benefits that are not always available from group-based products.
"Our aim is to develop quality insurance offerings that also meet the structure and design demands of group-rated products. We believe we have achieved a balanced outcome for our public offer members with this income protection product," Aarons said.
Aon, which received a silver medal in this category, focused on insurance solutions that offered a combined knowledge of risk with a customer-first approach. According to the Aon Hewitt's chief executive officer, Steven Gaffney, the Aon Master Trust's ‘Personal Super Essentials' product also offered a range of features with sufficient flexibility to ensure advisers were able to exactly match the needs of their clients.
"The main benefit for clients is the flexibility of the offer and the range of benefits that are designed to be relevant and affordable. The cover is flexible enough to cater for most circumstances, allowing members and advisers to closely match their needs," he said.
Group Super Disability Income Product 2016
Gold — First State Super: Personal Superannuation (TAL)
Silver — Aon: Aon Master Trust — Personal Super Essentials (AIA)
Bronze — AMIST: AMIST Super Personal Division (Lloyds of London)
AUTHOR
Oksana Patron
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