AIA Australia facilitates insurance within superannuation approach
Major life insurer AIA Australia has moved to assist financial planners in coping with new requirements around the Government's Future of Financial Advice changes.
The company announced this week that it had introduced changes to its Priority Protection product to include a superannuation income protection option - something which allows planners to offer clients insurance within superannuation.
According to AIA Australia's head of product and marketing Tim Tez, the new offering reflects the company's commitment to partnering with financial advisers and will enable them to offer clients more flexibility in purchasing income protection insurance by paying for the appropriate level of cover wholly through their superannuation.
Tez said the option to purchase income protection insurance was designed for a range of different clients, including the self-employed, who might otherwise struggle with no employer superannuation support, but could claim personal contributions to super as a tax deduction.
He said a recent AIA Australia survey of advisers across the country had shown that the self-employed were viewed as one of the biggest growth opportunities for financial advisers this year.
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