Asteron Life enhances specific injury cover on legacy products
29 November 2021
Asteron Life has confirmed it is making its new lump sum Specific Injury Support Benefit option available to more customers, by adding the optional benefit to their legacy SmartLife products.
The benefit provides eligible customers with more options when they are insuring themselves against the impact of accidental injury. The lump sum option was announced along with a suite of other Asteron Life product enhancements in September and has been one of the most popular choices in the suite of enhancements.
“The Specific Injury Support benefit is very popular with our customers, and we’ve had fantastic feedback from advisers following the release of the lump sum option this year,” says Claire Sutton, Executive Manager Portfolio & New Business at Asteron Life.
“We’re delighted to be making this option available to more customers, including passing it back to existing customers on some of our legacy products.”
In September this year, Asteron Life enhanced its existing Specific Injury benefit, adding eight new types of injuries that it covers. It also relaxed terms around fractures, allowing customers up to 30 days for confirmation of a fracture after an accident.
The new lump sum option provides claims payments ranging from 1 to 60 times the sum insured (with a maximum sum insured of $5,000).
“Our Specific Injury Support benefit covers 29 clearly defined injuries, and is a simple and low-cost option for advisers and customers to consider if they want cover for accidental injuries,” says Sutton.
“That aligns with the feedback we’ve had from advisers, which is that this benefit offers cover and functionality that other similar products in the market don’t provide.”
The new lump sum option will be available for eligible customers to choose to add to their SmartLife polices from 29 November.
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Asteron Life is a finalist for Life Insurer of the Year at the 2021 NZ Insurance Industry Awards. This award recognises companies that have demonstrated strong performance, responded to market changes and provided outstanding service for their customers and intermediaries.