News
Australia: Aviva’s Protectionfirst enhancements – value and flexibility to advisers and clients
15 September, 2009
The award-winning* Protectionfirst range of life, critical illness and income protection products have been enhanced to provide even more benefits to new and existing policy holders.
The key improvements are:
- Enhanced Flexible Recovery Money options which enable premiums to be split at benefit level so that life cover can be set up as a stepped premium while the flexible recovery money (critical illness and /or TPD) component can be a level structure (or vice versa) within the same bundled package
- Full critical illness benefits can now be paid for some degenerative conditions such as multiple sclerosis, Parkinson’s disease and muscular dystrophy, based on a diagnosis definition rather than a 'severity of condition' definition
- Disability definition has been expanded for income protection to include duties, hours and/or income based assessment at claim time, making it easier to satisfy the definition and meet expectations of the client at claim time.
"The enhancements made to our critical illness and income protection range ensures we better meet the expectations of our policy holders when they need it most," he said.
"At Aviva we pride ourselves on our 'delivery of promise' when it comes to claim time. These enhancements will improve our ability to meet that promise. Flexible cover options will make it easier for advisers to illustrate the real value of long term affordable protection for their clients.
"The key focus has been to deliver ongoing innovation and flexibility while enhancing the overall offering in such a way as to better meet the expectations and needs of advisers and clients alike."
The enhancements to the Protectionfirst products will be available from 25 September 2009.
* Aviva was awarded Life Company of the Year 2008 by the Association of Financial Advisers and Plan For Life Actuaries & Researchers; Aviva’s products were rated ‘Best Term Life and TPD Insurance’ in Asset Financial Review’s Innovation Awards 2008
Russell Hannah is available for interview.
For more information contact:
Sue Voglis
Research & Public Relations Manager
Phone: (03) 9829 8057
Disclaimer
This news release has been provided on the basis that it is only for the information and exclusive use of the particular person to whom it is provided by Aviva (Aviva Australia Holdings Limited ABN 38 095 045 784 and its related companies). While Aviva believes the information in this news release is accurate which in some cases has been provided to us by third parties, Aviva is not making any representation as to the accuracy, reliability or completeness of the information in the news release. Neither Aviva, nor its directors, officers or employees will have any liability to you or any persons resulting from your use of the information in this news release.
The information in this news release is of a general nature and has been prepared without taking into account any person's particular investment objectives, financial situation or particular needs. Applications to invest in a financial product issued by any company within the Aviva group must be made by completing the application form attached to or accompanying the applicable Product Disclosure Statement which is available from Aviva or your financial adviser. Aviva does not receive any remuneration in relation to the provision of the information available from this news release which is of a general nature only.
