Tower Australia has simplified a number of its life insurance products to cater for a wider range of financial advisers and their clients.
The group has revamped its Tower Protection Product (TPP) and Accelerate ranges, which have had their features upgraded to recognise changing customer needs and advances in medical technology.
Tower decided to revamp the products so it can continue to make the business of a life insurance adviser simpler and more efficient, Tower Australia retail life chief executive Brett Clark said.
“We are looking forward to really meeting that adviser demand and some good flows thereafter,” Clark said.
“There are a number of advisers already supporting the product and certainly we will take the full product suite out to them, but we are also seeking to attract new advisers to Tower.”
“Work definitions have been changed, medical terms refined and broadened, while waiting periods for many claims have been altered to suit customer needs,” Clark said.
“In today’s market, the customer decides what they want and how they want it. When it comes to life insurance, Tower remains committed to delivering to their expectations.
“If Australia’s wealth protection gap is to be closed, then life insurance needs to be more readily available to the consumer, and independent financial advisers need to be provided with simple tools to do the job.”
