AMP ups the ante on group market
AMP has moved more strongly into the group insurance market, this week announcing the launch of AMP Group Insurance.
Announcing the move, AMP director of group wealth protection Rob Bergin said the product built on the strengths of AMP and AXA’s stand-alone group insurance offerings.
“We had a look at what was working well in both operating models and are pleased to bring this new offer to the market,” he said.
Bergin said the new product included a range of enhancements and new features, including automatic cover for new employees, under certain conditions.
As well, he said it offered total and permanent disability cover and salary continuance when a non-work related illness prevented an employee from attending work on their first day of eligibility for cover, usually the first day of work.
This was in addition to immediate death and terminal illness cover which AMP Group Insurance provides for all causes – work or non-work related health issues.
AUTHOR
Staff Writer
Recommended for you
Following an extraordinary general meeting today, Dixon Advisory parent company E&P Financial Group’s shareholders have voted on its proposed delisting from the ASX.
While overall financial adviser numbers have dipped below 15,500 this week, Rhombus Advisory is experiencing growth and approaching 500 advisers in its ranks.
Iress’ Xplan continues to dominate the financial planning software market with a multitude of uses, according to Netwealth research, despite newer players battling for a piece of the pie.
ASIC has shared the percentage of breach reports related to financial advice in FY24, noting increased reporting by smaller AFSLs.
