ClearView Wealth Limited (ClearView, ASX: CVW) announced today another market first, the inclusion of Parent Cover in LifeSolutions, its suite of life advice products. A national roadshow will commence this week to promote the updated features and other enhancements to advisers.
Simon Swanson, Managing Director at ClearView, commented, “LifeSolutions was launched in late 2011 and since then it has become the cover of choice for advisers wanting to offer their clients an innovative solution tailored to individual needs.”
A number of definitions, limits and exclusions have also been updated to reflect changes in the market and better meet adviser and clients’ expectations.
Mr Swanson continued, “These enhancements are part of our growth strategy to ensure LifeSolutions continues to be one of the leading offers in the market. Providing solutions through quality products and superior service is at the heart of our business where advisers have direct access to decision makers including underwriting, policy administration and claims.”
Some of the enhancements include:
– Parent Cover to help cover clients immediate, sometimes considerable costs of farewelling a parent, by providing a lump sum benefit when they die.
– Protected commissions for business written under hybrid or level commission structures. This helps protect advisers deferred commission.
– Hybrid premium which has a level premium for the first seven years then reverts to a stepped premium.
– Level premiums to age 70 for Life, TPD, Trauma and Income Protection Cover.
– Life Cover Conversion Benefit, a first-to-market feature introduced in 2013, is now available to clients who hold Trauma Cover.Over the past 12 months ClearView has continued to invest in technology and processes to support its LifeSolutions product growth including upgrading adviser interaction and to improve efficiency and service delivery. This includes automation of online quotes, application tracking and automated underwriting rules engines.
The LifeSolutions suite of covers include Life, Total and Permanent Disability (TPD), Trauma, Income Protection and Business Expenses Cover. Cover can also be purchased via ClearView LifeSolutions Super, a risk only super product.
