Partners Life has introduced upgrades to several of its insurance products for 2021. According to the insurer, these upgrades are automatically applied to existing clients.
One of the upgrades added to a number of policies is a special events increase benefit, which allows the policyholder to adjust their cover to meet their changing financial needs after a special life event within the past 12 months, with no need for further health assessment. These special events could be any one of the following: getting married, adding a child to the family, buying a dream or vacation home, acquiring a residential investment property and getting a substantial pay raise.
For Partners Life’s life cover, life income cover and terminal illness cover, enhancements have been made to the dependent child funeral support benefit, the counselling benefit, the financial and legal advice benefit and the special events increase benefit.
For total and permanent disability cover, the insurer enhanced its counselling benefit, financial and legal advice benefit, special events increase benefit, loss of sight definition and TPD no wait period benefit.
Severe trauma cover received enhancements to the counselling benefit, financial and legal advice benefit, special events increase benefit, definitions for loss of independent existence and organ transplant.
Trauma cover’s enhancements were for the counselling benefit, financial and legal advice benefit, special events increase benefit, definitions for Alzheimer’s disease, aplastic anaemia, dementia, diabetes, HIV (medically and occupationally acquired), multiple sclerosis and organ transplant.
The company’s private medical cover had enhancements made to its excess waiver benefit – cancer condition, non-surgical benefit, second opinion benefit, funeral support benefit and specialist and test option. New benefits added were mental health consultations and public treatment support benefit.
For income cover, mortgage repayment cover and household expenses cover, the bed confinement benefit and KiwiSaver option were enhanced.
