Asteron Life premium rates are changing from 1 January 2025
We have performed a review of Asteron premium rates to ensure we can continue to support your clients when they need us most. As a result of this review, premium rates for Asteron Life policies will change from 1 January 2025, with many premium rates increasing and some remaining unchanged or, in some cases, reducing. Changes will only apply to Asteron Life Complete and Asteron/Suncorp Lifeguard products. These changes are an important measure so we can continue to support your clients when they need us most.
From 15 November 2024, we’ll begin sending clients a notification email (or letter for policyholders without digital contact details) with their new premiums up to 45 days before their policy anniversary. They will then be sent their usual annual renewal notice 30 days before their policy anniversary. The new premiums take effect upon policy renewal.
The TAL Adviser Centre has resources available to help you manage these changes with your clients. Log in to access a comprehensive Reprice Report, which will be available before any notifications go out to clients. This report includes:
- a list of clients impacted by the upcoming reprice, and
- a detailed breakdown of premium increases including age, rerate and CPI.
You’ll also find a quick reference guide to help you navigate the Reprice Report here.
To help clients that might need some extra support, we’ve also created a detailed breakdown of affordability options, which you can download here.