We appreciate your clients want to make things as simple as possible. Therefore we’ve recently made some enhancements to our Employee Insurance products in areas that have proved popular in our Personal Insurance offer, where we can do so with little or no impact on the cost to your client.
Income Protection Cover (formerly known as Salary Continuance Cover)
We’re launching the next generation of income protection cover with a number of enhancements:
New ‘Income Support benefit’ replaces the ‘Total Disablement benefit’ and ‘Partial Disablement benefit’. The degree to which a member is disabled will determine the benefit payment for which they are eligible.
Simplified payment calculations for both Indemnity and Loss of Earnings cover.
No requirements for any period of total disablement.
Revised Rehabilitation and Retraining Support benefit is available to members during the waiting period.
All monthly payments are now made in advance.
There is a new optional Specific Injury Support benefit.
Trauma Cover
We’ve renamed and improved our Premier Cover, which is Trauma Cover.
We’ve removed the Standard Cover.
We’ve added three more conditions to the Trauma Cover to match the number of conditions in the Personal Insurance Trauma Cover.
We’ve changed the trauma definitions to better align with the Personal Insurance Trauma Cover.
Making it simple and clear for your client
In addition to these changes, we’ve made some minor changes to provide greater clarity on cover overseas, the continuation option process, the threshold for returning to work and indexation while on claim.
