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Insurer grabs top rating

Insurer grabs top rating

Victoria Young
— 1 minute read
TPD provision proves an outright winner for life office Asteron.
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the fifth consecutive month, Asteron Lifeguard lump sum products have grabbed top spot in ProPlanner's Ratings Review.

Asteron Lifeguard Life Cover with total and permanent disablement (TPD) and TPD stand alone products beat out its competitors because of its partial TPD payment is recognised as a core provision.

According to ProPlanner's September ratings review, the product suite achieved the highest product provision scores for life cover with TPD, TPD stand alone, recovery package with recovery plus option and life cover.

Asteron has recently upgraded 70 per cent of its individual life risk business with retrospective enhancements.

This means existing Asteron TPD policyholders with policies dating back to 1991, have had their policies automatically updated with partial payment TPD benefit, Asteron head of sales Graham Burnard said.

In total, Asteron mailed 145,000 customers to notify them of the retrospective improvements to their policies.

ProPlanner is financial advice software that rates insurance products against a range of criteria.

As a member of the Suncorp Group since March 20, 2007, Asteron is part of an entity with more than $600 million of life risk in-force premiums and more than $26 billion funds under management.

 

Insurer grabs top rating
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