AMP has increased its life insurance approved product list (APL) to include five major insurers and made it common across all AMP licensees.
The company announced today that its life insurance APL now included BT and MetLife as new additions alongside AIA, OnePath/Zurich and TAL.
The company said that, for the first time, the APL would be common across all AMP’s licensees: AMP Financial Planning, Hillross and Charter.
Commenting on the move, AMP director of adviser partnerships Brian George said it had followed rigorous industry review and tender processes by the company’s advice research team.
“Clients and advisers will benefit from a competitive choice of policies and the enhanced service levels these insurers are offering, including claims resolution and support, technology support (including data feeds, shared portals), licensee-centric reporting, education and technical support, and future product development.”
“Existing life policies held by clients with insurers not on the APL will not be affected by the changes,” he said.