Quotemonster is looking for a General Manager

Alan Rafe has decided to step down as CEO and Quotemonster are now looking to hire a General Manager. This role suits an aspiring leader with a substantial part of their experience in life and health insurance product development, claims assessment, or underwriting. If you are interested, or know someone who might be please use this link to apply. 


It's great information, but it isn't financial advice:

I was asked by a compliance guru at one of the insurers about Quotemonster, and in particular Quality Product Research, and how that relates to product selection, and whether you can rely on it as information from a third party as the Financial Advice Code requires. 

You can rely on QPR to be a good assessment of differences between products, compare prices accurately, but it isn’t giving advice, only advisers do that, given their superior knowledge of the client. Research reports on products are there to help inform good advisers, not replace them.

Incidentally, in a related subject - Quotemonster is not a record-keeping system. It is a comparison system. Although we retain comparisons for your convenience, and so you can replicate similar comparisons, it is, obviously, not a CRM system. 

Our comparison business is to help advisers.


Product database updated

The QPR database has been updated and version 136 has been issued to subscribers and all changes are now live on Quotemonster. This version of the database includes the following changes:

Pinnacle Life policy wordings updated:

IP version 16/10/2018

Life version 01/12/2019

Funeral version 23/01/2019

Trauma version 01/12/2019

- no rating changes

 

Cigna business wording 11/05/2020 updated and rating changes applied. Revisions to ratings:

- IP/MP:

Future Insurability + Redundancy max entry/exit ages for Cigna

Pregnancy Premium Waiver Gender for Cigna

Insurable Income - SE rating for Partners Life

Insurable Income Salaried + SE amount score review

- Trauma:

> Diabetes Mellitus Adult definition, min age and amount score for Cigna

> Multiple Sclerosis definition review


Product database updated

The latest version of the QPR database (V135) has been distributed to subscribers and uploaded onto Quotemonster. This version includes the following changes:

  • New Cigna personal policy wording effective 11/05/2020
    • Minor rating change to:
    • Trauma - cancer definition, child trauma option amount score
    • Life - terminal illness definition
  • Remediation to:
    • Partners Life's Mental Health Limitation (in IP)
  • Term cover policy 02/18 now rated in Westpac Mortgage Protection

QPR Update

The latest QPR database has been sent out to subscribers and it has also been updated on Quotemonster. This version includes the following changes:

Remediation to:

  • AIA Future Insurability (Indexed vs Level)
  • Partners Life Covid-19 related changes

Product updates on QM:

  • You can now quote Partners Life Indemnity LOE with TPD Booster

Product Research Database Update

QPRV12_9 is now live, this version includes the following changes:

  • Updates to policy documents and ratings for the below:
  • Accuro SmartCare ACC7124 08/2019
  • Accuro SmartCare+ ACC7125 08/2019
  • AMP RPP NZPD00291 TraumaPlus 2017
  • AMP RPP NZPD0305 Trauma 10/2019
  • Asteron Continuous Trauma accessible through TBB

Product Research Database Update

We have uploaded the latest product research database (version 12_7) onto Quotemonster and distributed it to subscribers. This version includes the following changes:

  • Asteron Life policy wording added and rating changes applied effective 30.09.2019
  • BNZ LifeCare 01.04.2019 policy wording added and applied rating changes
  • Unimed Hospital Select 01.09.2019 policy wording added and applied rating changes
  • Fidelity Trauma Multi 08.09.2019 wording added and applied rating changes
  • AA Life and Funeral cover 01.08.2019 wording added and applied rating changes
  • Kiwibank Home Loan and Life & Living 01.08.2019 wording added and applied rating changes

Latest Product Research

We have just distributed the latest product research database update (QPRV12_6). This version includes the following changes:

  • AIA - Changed Credit Rating and Agency
  • AMP - Changed Credit Rating
  • MAS - New policy wording for Life, TPD and Trauma
  • AMP Lifetrack - New policy wording changes
  • Fidelity - New policy wording - no rating changes
  • Add new Product Line Wellness to take AIA Vitality into account. This will appear on the Package score on QuoteMonster research if AIA Vitality is selected

 


Free quoting of the market

Free quoting of the insurance market for all the main adviser companies, for a very wide range of their product sets is a core service in Quotemonster. To get product research, head-to-head comparisons, and research reports you need to subscribe - but it is worthwhile noting that free quoting includes all these options: 

Health: Base plan all Excesses, Specialists and Tests - $250 excess only, Loadings

Life, Level and RFA: Indexed, Future Insurability, Loadings

Family Protection: Fixed term or 'to age', Loading

Trauma: Standalone, Accelerated, YRT/RFA, Level 10 years, To age 65, To age 80

Optional extras: Life buyback, Trauma buyback, TPD Add-On, Early Cancer Benefit, Loading

Progressive Care: Standalone, Accelerated, YRT/RFA plus Level 10 years, To age 65, To age 80, Loading

TPD: Standalone, Accelerated, YRT/RFA plus Level 10 years, To age 65, To age 80, Own Occ, Any Occ, Option of life Buyback for accelerated, Loading

DI: YRT/RFA only, Indemnity, Agreed Value, Wait Period: 4,8,13,26,52,104 weeks, Benefit Period: 1, 2 & 5 years, To Age 65, To Age 70, Option of Booster Benefit, Loading

Mortgage Cover: RFA only, Wait Period: 4,8,13,26,52,104 weeks, Benefit Period: 1, 2 & 5 years, To Age 65, To Age 70, Loading

Redundancy: Loading