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TAL upgrades corporate insurance
TAL has updated its group life and group salary continuance (GSC) offerings for the standalone corporate market.
The upgrades include removing restrictions on location to allow for worldwide cover without prior approval, as well as the capability of individuals to apply for insurance online.
Head of TAL’s corporate stand-alone business, Adam Fusca, said the “refreshed” product provides leading product terms alone with enhanced clarity around benefits. “We removed a lot of the previous administration burdens around pre-notifications and pre-approvals to TAL,” Fusca said.
“We also acknowledge the increase in ‘global’ employees so we increased the flexibility of the product by removing the restrictions on location and time spent overseas to make it easy for our customers to cover all their employees,” he added.
Other features include the availability of death, total and permanent disability (TPD) and GSC cover to permanent employees regardless of the number of hours worked each week, as well as the waiver of premiums in respect of underwriting loadings.
TPD continuation has also been included as a standard benefit, ancillary benefits under GSC have been expanded and members now have the ability to obtain up to $200,000 extra death/TPD cover under Life Events cover.
AUTHOR
Ashleigh McIntyre
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