BT is enhancing products and streamlining the application process for life insurance.
To provide greater insurance coverage for clients and easier processes for advisers, BT Financial Group (BT) has introduced new features to its life insurance products.
"The changes ... have been made to ensure Westpac Protection Plans and BT Life on Wrap continue to be highly rated by advisers, while offering comprehensive insurance solutions for clients," BT life insurance head Phil Hay said.
Changes to BT's insurance offering include a new total and permanent disablement (TPD) partial benefit, where if a client becomes partially disabled, a part benefit will be paid.
Another new feature will enable those clients who have a term life policy with a disability benefit the opportunity to waive premiums on their term life policy, should they become temporarily disabled.
"Our broader definitions for a range of illnesses will help us protect more customers during all their life stages, such as greater coverage of diabetes-related illnesses. [These] affect an estimated 275 new Australians every day," Hay said.
BT has also improved processes and streamlined applications to reduce paperwork and waiting times.
Advisers will receive information detailing changes to BT Insurance products in coming weeks.
In Part 2 of our exclusive series, we ask leading names to nominate their best investments, the most effective industry group and the importance of platforms.
Last month's FPA National Conference offered Australia's financial planning community a chance to hear about past and future changes to the industry. ... read more »
