TAL launches online cover upgrade
Life insurance company, TAL, has introduced a service that allows clients to upgrade their insurance cover online, without the need of underwriting.
The service, ‘Cover Upgrade Express', lets clients increase their life insurance, total and permanent disability (TPD) insurance, and critical illness insurance through a feature called Guaranteed Future Insurability.
According to TAL general manager, retail distribution, Niall McConville, this was an industry first initiative and an easy way for advisers to look after their existing clients in an efficient way.
It eliminates the need for paperwork and notifies clients of their eligibility at policy renewal time, at which time they can upgrade without having to provide evidence of health or pastimes, McConville said.
He added that advisers could decide which of their clients would benefit from the service, as the self-directed model might not be right for everyone.
The service will be available for customers under the age of 55, and is part of the TAL Commitments initiative launched in July last year.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
