Tower partners with nib
Tower Australia Limited has joined with nib Health Funds Limited to launch a life insurance product to be marketed to the health fund’s customers.
The new product, nib Value Life Insurance, will be branded nib but administered by Tower.
The product is designed to provide families with up to $500,000 cover with no medical tests and will be open to online applications from February 22.
Announcing the move, nib chief executive Mark Fitzgibbon said research carried out in 2006 had revealed strong policyholder interest in nib offering more than just health insurance.
Tower Australia chief executive Jim Minto said that the partnership agreement with nib was the first retail offer through a health insurer by his company, but he saw the integration of such offers as very good at improving access to life insurance.
AUTHOR
Mike Taylor
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
