Insurer Asteron has rolled out an automatic rollover option within its life insurance product that allows clients to pay premiums through their superannuation or investment accounts.
As part of the Asteron offer, clients can access the rollovers through Colonial First State's (CFS) wrap platform, FirstWrap.
Asteron executive general manager Jordan Hawke said the firm had been in discussions with CFS over a partnership for the past three months.
"This new partnership builds on Asteron's current relationship with Colonial First State, which began with Guardian Financial Planning's recent launch of its Vantage platform," Hawke said.
Through FirstWrap, the rollovers or payment amounts from a client's superannuation or investment account will cover their premiums for Asteron Lifeguard insurance.
Asteron Lifeguard can also be accessed through Colonial First State's white label platforms.
Asteron dealer group Guardian Financial Planning has been using the life risk product through its white label platform, Vantage Portfolio Solutions, since 25 May.
Asteron's offering comes less than a week after CommInsure announced a similar offering for clients.
Under the CommInsure offering, premiums for the group's Total Care Plan Super (TCPS) can be funded through annual rollovers from CFS's FirstChoice and FirstWrap platforms.
Premiums funded by rollover money could also earn a renewal reward of up to 15 per cent, enabling CFS clients to access TCPS at a reduced rate, CommInsure general manager retail advice Tim Browne said.
