Asteron launches 'no medical life insurance'
Asteron Insurance has announced that they have eliminated mandatory medical assessments (Personal Medical Attendant Reports - PMAR's) and specialist medicals across all types of cover. This includes life insurance, income protection insurance, trauma insurance and TPD Insurance.
This is an industry first from a major life insurance company and will position Asteron Insurance as one of the easiest companies to do business with, for both clients and businesses.
Asteron insurance policy highlights
Asteron Insurance is the first life insurance company to:
- eliminate mandatory medical assessments (PMARs) and specialist medicals altogether
- eliminate mandatory ECGs (resting and exercise) for income protection insurance.
Other highlights include:
- Introduction of Asteron Insurance 'own GP medical' for particular sums insured.
- Introduction of Exercise Echocardiogram, which provides a more complete and accurate assessment compared to an ECG.
- No mammograms and PSA tests for clients under age 50.
Asteron income protection insurance changes
- Clients up to age 50 can now apply for up to $12,500 per month income protection insurance without medicals.
- Clients over age 50 can now apply for up to $10,000 per month income protection insurance without medicals.
- Professional and white collar clients can now apply for $15,000 per month agreed value without providing financial evidence.
- Manual and heavy manual clients can now apply for $7,500 and $5,000 per month agreed value respectively without providing financial evidence.
Asteron life insurance & TPD insurance changes
- No mandatory medical requirements for clients aged under 55 and applying for less than $1m life insurance/TPD insurance.
- Clients can now apply for up to $5 million TPD without the need for mandatory tax returns and full accounts for the last 2 years.
Asteron trauma insurance changes
- No mandatory medical requirements for clients aged under 50 and applying for less than $750K trauma insurance.
November 2010
