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ING has introduced a new range of flexible insurance options linked to the OneAnswer platform. This means OneCare Super premiums can now be funded from OneAnswer Personal Super accounts.
In addition to the comprehensive group insurance cover offered through OneAnswer Personal Super, clients now have access to pay their OneCare Super premiums from OneAnswer Personal Super accounts.
Not only is this a tax effective and convenient option for clients, it also provides advisers with a streamlined super and insurance product solution and a range of commission structures.
Tax concessions are one of the biggest advantages of funding insurance through super. In many cases, insurance premiums funded via superannuation are fully tax deductible to the trustee.
As OneCare Super can draw upon an accumulated OneAnswer Personal Super balance, the risk of clients’ policies lapsing and therefore not being covered is greatly reduced. It also gives clients cash flow flexibility as the premiums can be funded from outside their direct income.
Cover under OneCare Super includes Life Cover, Total and Permanent Disability (TPD) Cover, Income Secure Cover and Extra Care Cover (available as an addition to the aforementioned covers).
OneCare Super also offers advisers a range of four commission structures — upfront, stepped, hybrid and level — which means they can choose the structure that’s right for their business.
To find out how you can take advantage of this great enhancement contact the ING Business Development Team or call Adviser Services on 1800 804 768.
This information is provided for adviser use only. The information is current as at April 2008 and is subject to change. Potential investors must be advised to read the Product Disclosure Statement for both OneCare Super and OneAnswer Personal Super before making an investment decision. OneCare Super and OneAnswer Personal Super are issued by ING Custodians Pty Limited (ABN 12 008 508 496, AFSL 238346, RSE L0000673). This document must not be reproduced without the consent of the issuer.
