BT life insurance passes million-policies milestone
The BT life insurance business this week laid claim to passing a milestone, with one million policies now in-force.
Announcing the passing of the milestone, the company issued a statement claiming that since BT's standalone life insurance products were launched to independent financial advisers in 2011, it had become the fastest-growing business of its type in Australia.
Commenting on the achievement, BT's head of life insurance, Phil Hay, said the outcome had been achieved by focusing on financial advisers and their clients.
According to independent researcher DEXX&R, for the year ending June 2013, individual risk sales for BT grew by 28 per cent to $48 million from $38 million, producing the fastest growth rate amongst the five largest life insurance providers.
The research found that BT also led the market in terms of sales of death, total permanent disability and trauma products, achieving a 30 per cent increase in the June 2013 quarter to $36 million from $28 million.
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