Netwealth has increased both the medical and financial limits on its SuperWrap insurance product, according to director of distribution and marketing Matt Heine.
The maximum sum insured for the (short-form personal statement) for death and total and permanent disablement (TPD) benefits have been increased to $1 million, while members below the age of 40 will no longer require medicals for personal insurance applications up to $2.5 million.
In addition, Heine said under the new arrangement, members can apply for higher levels of cover without needing to complete additional medical examinations, blood tests or personal medical attendant reports (PMAR).
The new limits also eliminate the need to complete longer application forms, making the process even easier, fast tracking approvals, he said.
“For the first time we will also be introducing age-based non medical limits for corporate and employer plans for death and TPD cover.
“Previously these were non-aged based and associated with much higher non medical limits, especially in the age group up to age 45,” he said.
