Tower makes enhancements to Trauma and Income Protection cover

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Tower Health & Life has hit the road for the first time in two years, announcing enhancements to its Trauma cover and Income Protection cover. Good Returns writer Jenha White went along to the Hamilton session last Friday and heard about the changes.  

Tuesday, August 10th 2010, 2:04PM

by Jenha White

Tower Health & Life says it used feedback from advisers to develop its latest enhancements to its Trauma Cover and Income Protection Cover for both Tower Life 360 and Tower Business.

Tower head of products and marketing Grant Hill says a key enhancement for Income Protection cover is that claims payments will now be paid monthly in advance, immediately after the relevant wait period has ended with no further time delay.

Previously all claim payments were made in arrears meaning owners had to wait longer to receive the benefits of cover.

It has also made a change to its Recurrent Disability Benefit period which has been increased from six months to 12 months.

As for Trauma cover, a new condition has been recognised, there are increased benefit maximums, enhanced benefits and improved condition definitions.

The new condition is "Out of hospital cardiac arrest". This provides full payment for cardiac arrest which has occurred outside of hospital and is not caused by or associated with any medical procedure.

It also has a new partial payment for less serious heart attacks where diagnosis doesn't meet criteria for full payment.

Tower has introduced full payment on diagnosis of selected illnesses including Motor Neurone Disease and Muscular Dystrophy without having to meet criteria for whole person function or activities of daily living.

There is also now full payment for cancer cases which have carcinoma in situ of any organ if it results in the medically required removal of that organ.

Finally there are improved definitions for a number of conditions including stroke, Parkinson's Disease, Coma, Chronic Lung Failure, life threatening cancer and more.

Tower Health & Life chief executive Steve Boomert says reaction to the changes has been very positive at the nation wide road show which was attended by more than 400 advisers.

The changes are effective from next Friday 20 August.

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

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