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Zurich Financial Services has implemented a major update of its life risk products effective from April 1 in what it is describing as a bid to help Australians through the current period of economic instability.
The company announced today that it was delivering changes and improvements in key areas of product quality, new pricing and technology aimed at complementing the wealth protection strategies of many advisers and their clients.
The changes see premium reductions for Zurich’s death and total and permanent disablement policies, particularly in the 35 to 55 age range, with trauma cover pricing seeing both increases and some reductions and income replacement premiums being increased by 2 per cent across the board.
Commenting on the move, Zurich head of life risk Colin Morgan said the product changes were intended to provide clients with greater protection for conditions where it really mattered.
He said for advisers, the company had aimed at making the cover easier to explain to its clients.
