Members of the PAA Invited to Tender for Holiday Homes
The Value of Financial Advice

Recent AMP Product Changes

AMP Lifetrack and RPP recently made a range of enhancements to the following products in both the RPP and Lifetrack ranges. Quality Product Research ratings and policy wordings have all been updated on quotemonster.co.nz 

Life

RPP:

Clarification of the main Life benefit and Business Future Insurability wording.

TPD

RPP:

Increase in partial payments from 10% to 25%.

Addition of Life Cover Buyback option.

Lifetrack:

Increase in partial payments from 10% to 25%.  

Addition of Life Cover Buyback option.

Removal of claim restriction in last 3 months. 

Linked TPD cease age extension from age 65 to age 70.

The removal of the claim restriction in the last three months of the policy life is particularly welcome. It removes a strange, and yet probably rarely applicable, complexity. 

Trauma

In addition to the following enhancements the rating of the heart attack benefit in the trauma product has been reviewed by Quality Product Research and the rating has been revised, resulting in an improvement in score for this important benefit. 

RPP Trauma / Plus:

Alzheimer’s & Dementia definition - addition of supervision qualification measure.

Additional of Trauma Buyback Reinstatement Discount.

Diagnosis and Partial definitions - restructure.

Lifetrack Trauma / Plus:

Alzheimer’s & Dementia definition- addition of supervision qualification measure.

Diagnosis and Partial definitions - restructure.

Income Protection

Lifetrack:

Addition of Accidental Lump Sum (ALS) option.

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.