Life insurance is a promise, between you and your client, between an adviser and an insurer. Honouring that promise, at the moment of truth, is everything. We must continually review our premiums to ensure they fairly reflect the claims experience of that portfolio and reflect the true cost of providing that valuable protection.
We are constantly monitoring claims experience and from time to time we need to adjust premium rates. Later this year we will implement price changes for all customers across our OnePath portfolios. We will give you ample notice of these adjustments.
We understand these changes can place additional pressure on you and your clients, which is why we always approach them with a focus on stability and sustainability, and a desire to give more certainty to clients.
We also look to support advisers with a range of resources to help with client conversations, including explainers on life insurance pricing, and materials to help reinforce the need for, and value of, life insurance protection.
You will find these resources below.
More details will be provided to advisers shortly about these changes. In the meantime, please speak to your BDM on 1800 222 066 if you have any questions or need more details.