Innovating a better life for you (and your customers) September 2013 Risk Update

Transcription

1 Innovating a better life for you (and your customers) September 2013 Risk Update

2 We want to make your life better. Which is why we started by making ours better. Better products Better access Better support Stronger brand

3 Better products: September 2013 update Better access: now available through platforms 1. Income replacement: now available through superannuation As a longstanding champion of advisers and one of the last truly independent insurers in the market Zurich recognises the need to cater for a wide range of business models. From traditional to paperless, from commission based to fee charging, Zurich can tailor its services to best suit your needs. Our Superannuation Income Replacement product completes our suite of superannuation based risk options, allowing your customers more flexibility in tailoring their coverage to their unique needs and budget. Income replacement can be one of the most important types of cover, but affordability issues (especially for families with mortgages and other debt) can often be a barrier to customers having an adequate amount of cover, or even any cover at all. The ability to fund premiums for an individual income protection policy with accumulated superannuation balances rather than from after-tax disposable income - can make it much easier for your customers to fit this vital cover within a tight household budget. Zurich s tailored super structuring options - along with our convenient rollover follow - up service are already well regarded for their convenience and flexibility; the addition of an income replacement option is one more way we are making it easier to get the right type and the right amount of cover. For more details including a summary of all our Tailored Super Structuring options ask your Zurich Zurich BDM. 2. Income replacement: improved passive income offset clause From 27 September, in those cases where we apply a passive income offset clause, benefits will not be offset against passive income for the first six months of a claim (in practical terms the majority of cases). 3. Income replacement: improved graduate offer (including medicos) Zurich recognises the unique circumstances faced by young professionals who are just establishing themselves in their chosen career, and has long been recognised as having one of the most generous and wide ranging graduate offers in the market. In response to adviser feedback we are pleased to confirm significantly higher limits are now available for selected occupations. Ask your Zurich BDM for more details of our latest graduate offer. At a time of increased focus on efficiency, our daily data feed service is proving invaluable in giving advisers quality, up-to-date client data. The popularity of platforms handling risk as well as investments also continues to grow with advisers and customers alike, offering efficiency, convenience and the affordability benefits of insurance held and paid for through superannuation. In line with this growing demand, we are excited to confirm that we will soon be able to offer our protection suite via some of the market s best rated and award winning platforms including netwealth and RetireRight. We are well advanced in discussions with other platforms too such as HUB24, as we aim to give advisers as much choice as possible in how they access Zurich s Wealth Protection range. To find out the latest list of platforms we support, or more information about the benefits of writing risk through a platform, contact your Zurich BDM. ONLINE y, 16 July 2013 NEWS > INSURANCE Tuesda LTH ZURICH ENTERS NETWEA PLATFORM s to its LifeWrap facility in a option has added Zurich's insurance Platform provider netwealth ive on October partnership that will be effect super and investment suite of Zurich life products into our "The addition and integration ble elsewhere in the platform investors with choice not availa provides our members and director Matt Heine said. market," netwealth executive t segments as one of the on technology and on key marke focus 's Zurich Heine mentioned MORE ADVISERS SELLING LIFE INSURANCE THROUGH PLATFORMS riskinfo More financial advisers are selling life insurance products, with many using an investment platform for the transaction. In a new survey of 800 advisers by Investment Trends, 78% of advisers surveyed said they are selling life insurance products compared to 71% last year. NEWS NCES FIRST ZURICH ANNOUTN SHIP PLATFORM PAR ER Investment Trends advisory board member Tim Cobb told insurancenews.com.au the majority of advisers will be using the superannuation options on a platform to achieve tax-effective benefits for their clients. The simple life policies of mums and der superannu platform provi dads use the option while the time. unced a partnership with woulduct the first rm foration has annoinsurance moreh complex Zuric via a platfo would beerput its prod through the client s offer self-managed superannuation insur the netwealth, which will see to increase their focus on nuing conti are ers insur ights that ance offering In a move that further highl h will become the third insur offers via platforms, Zuric delivering retail insurance LifeWrap facility. s ealth netw on ble availa Sources: July December July 2013

4 Better support: specialised resources Interactive sales reporting app Knowledge is power, and the more you understand your business the better placed you will be to drive it in the right direction. That s why we ve just equipped our BDMs with a custom-made ipad app offering fully interactive reports on your entire Zurich portfolio. Your Zurich BDM can now give you instant access to detailed information on your total Zurich risk client portfolio, including a summary of sales and exits by product type and in-force trends. This birdseye view not only helps you understand the bigger picture but also lets you zero in on issues and opportunities within your portfolio. For a demonstration, or better still a full interactive tour of your existing Zurich portfolio, contact your Zurich BDM. Enhanced client tracking via Adviser Assist Our Adviser Assist portal is your one stop destination for real-time information on current client transactions, including new business, upcoming renewals and pending lapses. We re now editing client transaction reports to the list of items you can view, helping give you greater visibility of review triggers and driving greater efficiency within your business. You will be able to get a consolidated view of all transactions occurring on altered policies including changes to contact details, sums insured or payment method - by client and by date. Accessing these online gives you easier access to additional details when you need them. Segment marketing kits Zurich offers a range of materials tailored to the unique needs specific client segments, including: Medical professionals; Legal professionals; and Small business owners. These resources include lead generation and concept selling materials, including letters and s, content for your website and even images to use in your brochures. Generic (unbranded) versions of some materials are available. Ask your Zurich BDM for more details. The right choice for medical professionals Putting a protection plan in place A qualified risk protection specialist can help you put a protection plan in place, which is: Tailored to your individual circumstances Tax effective Flexible. Such a plan would typically cover off: Debt repayment (to cover personal loans, mortgages) Income replacement (to meet day to day personal living expenses, groceries, electricity, school fees, fuel bills, etc) Cover against increased medical expenses. If you run your own practice, you may also need to consider: Business debt repayment Key person protection for partners or employees The next step is easy As a risk protection specialist who specialises in providing protection solutions to legal professionals, I am able to analyse your circumstances and tailor a plan to your own unique needs. I have access to a wide range of cover options from Australia s leading life insurers and can help ensure your protection plan is tax effective and affordable. Your next step is as simple as contacting my office to arrange an appointment. Is your defence as solid as you think? Life insurance protection for legal professionals Cover for fixed business expenses (which continue even if you can t work), such as rent and staff salaries Buy/sell agreements. Tax effective A risk protection specialist can also help ensure your plan is structured in the most tax effective way possible, in terms of both tax deductibility of premiums and the tax treatment of any benefits paid. Issues that generally need to be considered include the advantages of holding cover inside and outside of the superannuation environment, policy ownership and beneficiary structures. PTAY ZU21255 V1 06/12 Notes 1. Source: AIHW National Hospital Morbidity Database, Separation statistics by principal diagnosis in ICD-10-AM, Australia, Source: Australian Institute of Health and Welfare, Source: Cancer in Australia, Australian Institute of Health and Welfare, Calculations are based on data from the Institute of Actuaries, Interim Report of the Disability Committee, 2000 and RGA Reinsurance Company of Australia Limited s 2011 income protection experience. 5. Zurich Australia Life Risk claims analysis This publication is dated 1 July 2012, is given in good faith and is derived from sources believed to be accurate as at this date, which may be subject to change. It should not be considered to be a comprehensive statement on any matter and should not be relied on as such. This material is of a general nature only and has been prepared without taking into account your personal objectives, financial situation or needs. Therefore you should consider these factors, the appropriateness of the information provided and the relevant Product Disclosure Statement (PDS) before making a decision. You should also consider obtaining independent advice from a licensed risk protection specialist.

5 YouTube Channel Our popular YouTube channel is a must-visit destination for our expanding range of news, technical, educational and client facing video resources. Latest additions to the channel include our child trauma cover video, which helps deal with a topic that can be sensitive for some clients, and our new Investment Insights series, where one of our Investment Specialists helps you decipher the key market and economic issues in under three minutes. Subscribe to our channel at youtube.com/zurichaustralia or scan the code below. Scan the code to view our YouTubechannel Download your QR code application from the app store. Stronger brand: we are here to stay With over 140 years of heritage (and over 90 years of protecting Australians), Zurich continues to be recognised amongst the world s leading brands, a reflection of both our financial strength and our customer service ethos. Locally, we are known as a long-standing champion of advisers and are one of the last remaining truly independent insurers in the market. We also have a well deserved reputation for quality and innovation, across all aspects of our proposition. Our aim is to make it as easy as possible to give your clients top quality protection with the peace of mind of being protected by an insurer who will be there when it really matters. Already amongst the most recognised financial brands in Australia, October 2013 will see an exciting new phase in our consumer facing communication with the launch of our latest brand advertising campaign. Spanning newspapers, television, online and outdoor media, the national campaign - Protect what s precious to you will target new parents and home buyers/ renovators with highly targeted messaging that reinforces the importance of protecting themselves and their loved ones, properly. As well as raising the profile of Zurich, this campaign is expected to reinforce the value of life insurance, and the value of seeking expert advice, and as such we expect the campaign will provide a great support to advisers around Australia. Supporting the campaign will be a range of videos, flyers, sales tools, and merchandise. So keep an eye out for more details on this exciting initiative, which we hope will reinforce the many reasons you already recommend Zurich to your customers. Ask your Zurich BDM for more information.

6 Important information This publication is dated 20 September 2013 and is a summary for financial advisers only. The information does not take into account any personal objectives, financial situation or needs. You should consider these factors, the appropriateness of the information and the Zurich Wealth Protection Product Disclosure Statement (PDS) dated 1 March 2013 (including the Supplementary PDS dated 27 September 2013) and the Zurich Wealth Protection Superannuation Income Replacement PDS dated 27 September 2013 before making a decision or recommendation. There is important tax information about the products contained in these documents. Zurich Australia Limited ABN AFSLN and Zurich Australian Superannuation Pty Limited ABN AFSLN are the issuers of Zurich Wealth Protection. ZU V1 04/13 SWIN Zurich Australia Limited ABN , AFS Licence Number Zurich Australian Superannuation Pty Limited ABN , AFS Licence Number Blue Street North Sydney NSW 2060 Adviser Service Centre