AMP elevates insurance offering

amp/insurance/financial-advisers/director/

17 May 2012
| By Staff |
image
image
expand image

AMP this week announced upgrades to its Elevate insurance offering, with a particular focus on people working in the mining industry.

The company said the enhancements to the product would go live next week, with AMP director of retail wealth protection Michael Rogers saying they meant the company could offer a more comprehensive and competitive insurance solution to more Australians. 

AMP has reclassified Elevate's mining occupations - something which it claims will help financial advisers tailor their clients' insurance solution to their specific job and its unique requirements.

"Reclassifying Elevates mining occupations is a reflection of the fact we recognise there are specific occupations where offering longer benefits are appropriate, given the workers' skills and experience," Rogers said.  

"For certain skilled mining occupations, AMP is extending the benefit period to age 65, an enhancement from the standard five-year benefit period and the maximum monthly benefit amount will be increased for some occupations."

He said AMP has relaxed its medical requirements for underwriting so that in many cases people who apply for Elevate wealth protection will be able to get cover following the completion of a personal statement alone, without the need for blood tests and medical exams.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 4 days ago

TOP PERFORMING FUNDS