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.
AUTHOR
Recommended for you
Several wealth management companies have been selected as finalists at the inaugural awards, which champions those who have transformed the Australian economy with their AI solutions.
Money Management’s sister brand Super Review is pleased to reveal that over 120 finalists will compete for trophies at this year’s awards.
The principal partner of this year’s Women in Finance Summit has said organisations that practise inclusivity are more likely to build trust in the community.
Both Schroders and abrdn have appointed new group chief executives to lead their respective firms.
