BT rides to top with super cover

Offering life insurance via its superannuation wrap has secured BT Financial Group (BTFG) top spot in both Super Risk categories (See also: Adviser Choice Super Risk Disability Income Product 2014). 

BTFG, Life Insurance Products, National Manager Scott Moffit said advisers were able to access the same Term Life, with linked TPD Benefit directly from BTFG or via the platform and could offer flexibility in how the client paid for it. 

He said while BTFG now also offered life insurance through super on the Asgard as well as BTFG platforms the focus had been in ensuring and reinforcing that the quality of Term Life, with linked TPD Benefit was the same on the platform as it was off the platform. 

The Russell Super Solution secured Silver with Russell Investments Business Strategy & Operations Director Jason Marler stating that its default cover and great scale were able to provide excellent terms for super fund members accessing the product. 

"I think that's one thing we do quite well. We have got a really good balance between excellent default cover and automatic acceptance terms but also where people want to take out more cover we encourage them to do that but it's properly risk assessed," Marler said. 

"We have focused on keeping things fair and having the right members pay the right level of premiums, providing good default cover, and keeping effectively our premium rates in that default setting as competitive as they can be." 

OnePath has also continued its strong showing in this year's awards with a Bronze in this category for its OneCare - Life Cover Super product. 

ANZ Global Wealth head of life insurance Gerard Kerr said linking insurance to superannuation has been part of its success as has been the willingness to take large positions with business insurance of up to $10 million in TPD cover. 

"We recognise that people use life insurance for different reasons. Some use it for, say, funds protection. Quite often people use it for business protection. And what you need in a business environment can be slightly different to what you need in a personal funding environment," Kerr said. 

"We try and focus on is how much product flexibility or product functionality we can introduce because quite often advisers when they help their clients like the ability to be able to tailor to their needs as much as possible." 

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