Macquarie Life Insurance: Award Winning & Market Leading

Macquarie Life Insurance enhances its product and service offerings and has introduced a range of updates which will further enhance the services already offered in order to deliver high quality value to their customers. When it comes to structuring cover in and outside of superannuation, Macquarie has combined its Future Wise and Super Protector products which will make it far easier for advisers to write up risk cover for their customers. Future Wise now provides life insurance, disability and TPD cover on Macquarie Wrap via a superannuation account. Macquarie Sumo has been upgraded and provides high level cover to advisers across Australia that is not easily attainable any where else. In order to help facilitate the claims process for advisers and their customers new options and new benefits have been added which will enhance Macquarie Life and Future Wise income protection offerings. In addition Macquarie Life has also made adequate changes to their claim process via Claims Connect run by a team of qualified nursing staff who over the telephone with customers complete claim forms as well as provide a holistic and empathetic approach ensuring that the claim will be processed efficiently and quickly. As opposed to the benefit being claimed, Macquarie Life takes a positive assessment approach and determines the most ideal path to process claims based on the cause which makes the process far quicker and helps to identify if the client is eligible for additional benefits. Service upgrades have also been put in place in Macquarie’s Life underwriting service and no longer a mandatory requirement are personal medical attendant reports, although medical exams are still required by the clients own practitioner for higher sums insured. The company is committed to delivering value, due to the company taking note of what their advisers are requesting. Greater flexibility and choices as well as new product options have been recently introduced and the claims and underwriting process have also seen major improvements to help dive greater efficiencies. In order to maximise the key strengths to their insurance products, upgrades were carried out and extended activities are now being introduced with regards to daily living concepts from Future Wise and Active as alternatives to domestic duties, own occupation and other for TPD insurance. This means that occupational assessment may not be a requirement as a defined approach will be taken to assess extended ADL’s disability and impairment based on the ability to perform. If an insured person is unable to perform at least three or more of the six extended ADL categories the full TPD benefit will be paid out. rnDue to Future Wise providing traditional life insurance and Active offering new categories of life insurance, Macquarie Life Insurance has been positively able to identify the elements of both and enhance the two products. In addition the company is introducing a new feature the partial impairment option which will provide partial payments and is also introducing new care option which provides extra payment which will cover long term care expenses.