New insurance tool
Greg Einfeld
Financial advisers will be able to drill down to the benefits of particular insurance products utilising a new product launched this week by National Australia Bank financial services arm, MLC.
The product, Super Insurance Modeller, is being promoted by MLC as being capable of modelling different scenarios from both premium and tax perspectives.
MLC Insurance general manager Greg Einfeld said the product allowed advisers to quantify the potential benefits of each situation quickly and accurately allowing for a comparison of the cost and tax implications of holding insurance both inside and outside of superannuation.
As well, he said the product allowed advisers to calculate the impact of dependent and non-dependent beneficiaries for life cover.
Einfeld said the modelling took minutes to complete and the results could be displayed on-screen in graph or table format, or printed as a report for inclusion in a Statement of Advice.
AUTHOR
Mike Taylor
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