For higher sums insured, the application process will save time for advisers and customers. The introduction of a simplified calculation to determine the medical tests required to underwrite the cover will result in customers enjoying more cover with less medical requirements. In some cases, customers will only have to undergo a mini medical by a registered nurse instead of a lengthier full medical by a doctor. Previously full medical checks were required for many applications.
In addition, customers can now apply for greater Trauma Cover and Permanent Disability Cover. The limit for Trauma Cover has increased from $1.5 million to $2 million and the limit for Permanent Disability Cover has increased to $3 million for both the Own Occupation or Any Occupation categories.
"Tower is confident the enhancements will streamline the underwriting process, allowing advisers the opportunity to provide a quicker service to customers by cutting down the time and effort required for medical tests," Boomert says.
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