Life insurer overhauls cover offerings

In a statement, Integrity Life said it had added a new Care Support Package to its lump sum coverage options that would provide benefits including grief and home care support to seriously ill or injured policyholders and their family members.

In addition, the group’s Here for You range now included a new $3,000 benefit for claimants to put towards accountants, advisers or legal costs. Clients whose policies had been underwritten for a business purpose also had the ability to increase cover for business events where they were the key person in the business.

Further, Integrity said it had expanded the eligibility for its healthy living discount and added a new 7.5 per cent discount for clients who combined income insurance with lump sum cover.

“Central to Integrity’s philosophy is listening to what advisers and their clients want, and then actually doing something about it – so we’re thrilled to be releasing a bundle of changes that our advisers have asked us for,” Integrity head of retail product William Rogers said. 

“The changes will make us even more competitive, even better value, and because of our sustainable pricing approach, there will be no increase to premiums as a result of these changes.”

The changes follow the announcement last month that Integrity had poached MLC Life Insurance’s Sean McCormack to head the business, after founding chief executive Chris Powell stepped down in early 2020.