News that Partners Life is providing a more flexible TPD option for those taking out trauma cover with the firm attracted high adviser engagement this week…
Partners Life has announced the third phase of its planned product and pricing changes with news that it is introducing a TPD option with its trauma cover accelerated and trauma cover standalone products.
The option will replace the built-in TPD condition within the two covers. However, clients can now opt out in exchange for a reduced premium.
For new business quoted prior to Friday 6 October 2023, but issued after this date, the TPD option will be included by default – with an option to turn it off on request.
For existing business, this option will show as selected by default, unless the client has had the TPD covered condition excluded in their trauma cover in which case it will automatically be opted out.
However, if a client would prefer to opt out of TPD under trauma cover, advisers can de-select it in the alteration quote and send through a request signed by all policy owners and the revised premium will be applied to their policy.
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