New life insurance package for independent financial advisers
Asteron Life has released what it describes as a more comprehensive life insurance package for the independent financial adviser (IFA) sector.
According to the insurer, Asteron Life Complete (Complete) offers a more affordable income protection range for financial advisers, reducing pricing by up to 30 per cent for selected occupations and age groups.
Complete also has built-in back office capabilities, enabling independent financial advisers to spend less time on administration and more time servicing clients.
These enhancements include a new quotation system, an e-applications system and a financial adviser website to establish new business.
Other enhancements include new terms and conditions on heart attacks and early stage breast cancer, and an updated disability definition for all occupation classes.
In addition, the 'Healthy Lives Option' offers clients a discount on life cover based on an initial assessment of body mass index and family history.
The new offering will replace Asteron Life's current Lifeguard series from 5 March 2012.
Recommended for you
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.
