Recently it has been brought to our attention that Asteron Life only offers a 13 week wait period for lump sum benefits. There is a product / basket selection decision to be made in www.quotemonster.co.nz comparisons. For example, if you were to select a package of life, trauma, and TPD and then add waiver of premium at a wait period of four weeks the current approach would generally be to drop Asteron Life from the presented quote package - because they don't have this option. However, we have modified this rule in certain circumstances. For example, we have permitted $300 excess products to appear in the same set as $250 excess products for medical insurance, properly labelled.
Then there is the issue of a plan combined with income protection insurance. Add income protection to the scenario above and technically there are two waiver benefits, one with a 13 week wait and one with a four week wait. We have decided to calculate the premium based on the mix and present it all in the selected product set appropriately labelled. The wording is detailed below.