NEOS and MLC Life Insurance launch retail life insurance offering
NEOS and MLC Life Insurance have released their Encompass Protection retail life insurance offering designed in response to the increasing cost of providing risk advice.
Financial advisers could now offer their clients two different products, NEOS Protection and Encompass Protection, using the NEOS platform which gives access to the same dedicated business development manager, underwriter and service consultant regardless of the product brand chosen.
NEOS managing director, John de Zwart, said: “We came to market with a vision to simplify life insurance for customers and advisers, and we believe this is critical step on that journey.
“Offering Encompass Protection, alongside NEOS Protection, on the one service and technology platform, can improve adviser efficiency and ease of doing business. We’re passionate about trying to make risk advice easier, providing advisers with a range of high-quality products on a single, easy-to-use platform that advisers are familiar and comfortable with.”
Michael Rogers, chief retail insurance officer, MLC Life Insurance, said: “We’re excited to be going ‘live’ in just a few days. I want to thank the team at NEOS for their support and expertise in bringing this offer to market.
“We believe passionately in the importance of risk advice and know Australians benefit from receiving it. Our goal is to ensure the sustainability of advice through our products and services, and we believe Encompass Protection will help us to achieve this goal.”
The service would go live on Thursday 28 April.
AUTHOR
Liam Cormican
Recommended for you
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
In the run-up to heavy losses expected at the end of the financial year, June has already reported consecutive weeks of adviser losses.
ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam.
ASIC has sent warning notices to social media finfluencers who it suspects are providing unlicensed financial advice to Australians as part of a global crackdown by international regulators.
