Wealthtrac appoints new super insurer
Platform Wealthtrac has appointed ING as its new preferred super insurance provider, replacing Tower.
Head of distribution Matthew Johnson said the appointment of ING provides “significant new features for Wealthtrac members, including death coverage until age 75 and TPD [total and permanent disablement] until 70, and salary continuance until age 65.
A purpose-built website RiskWorks is available to track the progress of the insurance underwriting on the platform, which is administered by Oasis, Johnson said.
The website indicates that the response to the change of insurance provider by Wealthrac investors, advisers and dealer groups has been “overwhelming”.
“Advisers now have the best of both worlds in so far as the new insurance position is a retail like offering with group style premiums.
“Our members have the opportunity to speak directly to senior underwriters and at group rates, whereas previously they weren’t able to discuss any issues directly with the underwriters,” he said.
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