We’re introducing our new Income Protection options from 24 September 2021

Years of insight for a better tomorrow
Niall McConville
Head of Retail Distribution

Over the past two years, we’ve completely redesigned our Income Protection product, challenging ideas and historical approaches at every stage.

We’ve conducted in-depth research, examined years of claims and sought input from you and your clients to develop a product solution that results in a fairer, more sustainable future.

And for us, sustainability is about fairness. It’s the balance of what your clients need during a claim with what will make Income Protection part of a better future for more Australians: affordable cover that’s with them for the long-term. 

Introducing our redesigned Income Protection
Simpler products that ensure benefits are paid when they're needed most

IP Enhance Icon
IP Focus Icon
IP Assist Icon
Income Protection Enhance
Our most affordable long-term cover, with innovative, evidence led design
 Income Protection Focus 
Providing greater certainty of cover over a choice of short-term benefit periods.
Income Protection Assist
Long-term cover with additional support at the start of a claim.
Up to 70%

To age 65
Up to 70%

1, 2 or 5 years
Up to 60%

To age 65

Join us to learn more about what's ahead

Our latest update to Accelerated Protection, including our new Income Protection options, will be available from 24 September 2021. To help you learn more about the options, definitions and what it all means for you and your clients, we’re running some live webinars:


We also wanted to remind you about some of the other changes that will take place on 24 September 2021 which may impact both your new and existing clients. They include key dates for quotes and submissions as well as important regulatory changes.

The details are below:

Key dates for new business quotes and applications

There are some important cut-off dates you need to be aware of for quoting, and the submission applications you might have in progress for your clients:

Quotes for our existing on-sale product

  • New quotes for our existing on-sale product must be generated by 23 September 2021.
  • Quotes and completed applications for our existing on-sale product must be received by 30 September 2021. Beyond this date, quotes and any incomplete applications will expire and cannot be resumed.

Submitted applications with a quote generated between 1 April 2021 – 23 September 2021
  • Tele-interviews must be completed by no later than 30 November 2021.
  • Policies must be in-force by 28 February 2022. Any applications still in-progress on this date will expire

Submitted applications with a quote generated prior to 1 April 2021

  • Tele-interviews must be booked and completed by 23 September 2021. If the tele-interview is not completed by this date, the application will expire.
  • Policies must be in-force by 22 December 2021. Any applications still in-progress on this date will expire.

Disclosure obligation changes and client communications

Recent regulatory changes have resulted in the ‘duty of disclosure’ being replaced with a ‘duty to take reasonable care not to make a misrepresentation’ when entering into, varying, extending or reinstating a consumer insurance contract. To learn more about these changes and what it means for your clients, please see our adviser FAQ.

We will adopt the new duty on 24 September 2021. From this date, all forms and documents which currently contain the ‘duty of disclosure’ will be updated to reflect the new ‘duty to take reasonable care not to make a misrepresentation’.

This change to disclosure obligations will also apply to any transactions (including submitted applications or policy alterations) which are in-progress on 24 September 2021.

Customer Communications
We’ll be writing to your clients with these transactions in-progress to let them know about the change to their duty. Importantly, your clients do not need to respond or reapply, and this change does not impact any other aspect of their application, including the quoted premium. As always, we’ll ensure that you are provided with a notification if you have a client who will receive this communication from us.

Target Market Determination

As part of the changes introduced following the Royal Commission, insurers and other product issuers will soon be required to publish a document known as a Target Market Determination (TMD) for all on-sale products and for transactions on legacy products where a PDS is required to be given. TMDs are required to contain information about the product, but importantly must provide guidance for distributors to clearly identify the target market for whom the product is intended.

The TMD for all eligible products will be made available on our website from 24 September 2021.

More information coming soon

We will provide further information and details on the updates in the coming weeks, however in the meantime if we can be of any assistance, please get in touch with your Business Development Manager or our Adviser Service Centre on 1300 351 133 (Monday to Friday 8:00am - 7:00pm AEST).
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