Asteron Life making Employee Insurance more comprehensive and easier to understand

14 April 2023

In response to current market insights and to help employees attract and retain employees in the current tight labour market, Asteron Life has announced enhancements to its Employee Insurance offering.

Leading the enhancements is the addition of Kids Trauma Cover as a built-in feature for all policies, the inclusion of Asteron Life Connected Care at no extra cost with Income Protection and the replacement of the existing Specific Injury Benefit and the Personal Accident & Major Burns Benefit with a new standalone Specific Injury Support Benefit.  There are also 3 new Trauma diagnoses now covered, including Diabetes and Terminal Illness.

Graham Hill, Executive Manager, Life Distribution at Asteron Life explains that these improvements have come about following advisor feedback and Asteron Life’s desire to continually strengthen their product offerings to ensure they’re fit for purpose.

“We’ve heard through our advisor network that customers want a more holistic employee insurance offering and, by adding Kids Trauma and Specific Injury Support to our Life, Trauma, Total and Permanent Disablement and Income Protection coverage options, we’re ensuring they get just that,” Hill says.

“With Kids Trauma Cover, members with a child who has been diagnosed with a serious medical condition or is undergoing a major surgery will be able to focus on their family duties without worrying about additional financial stresses, while the new standalone Specific Injury Support Benefit sees lump sum payments made if an employee suffers any of the 25 specified injuries.

“Asteron Life Connected Care, which is now available at no extra cost with Income Protection, provides policy holders, their partner/spouse, children, parents, and even parents-in-laws, with access to expert medical, mental health and wellbeing advice from the comfort of your own home.”

Along with these new and enhanced coverage offerings, Asteron Life is proud to announce all Employee Insurance policies have achieved the WriteMark Plain Language Standard. This means the policy is written in plain language that’s easy to read, understand, and act on, therefore giving customers an increased level of comfort around their cover. 

“We know that insurance is a business that can be extremely confusing and at times confronting for our customers, so by having a policy that has achieved the WriteMark Plain Language Standard we’re doing all we can to help customers really understand what they’re covered for,” Hill says.

“But it’s more than just making insurance jargon easier to understand. Our team has taken this opportunity to update and clarify several other terms throughout the policy, including 22 existing trauma cover definitions and three new diagnoses, all with the aim of making things easier for the customer.”

All new policies will be issued with this WriteMark Standard from 1 June 2023, with existing Employee Insurance policies being moved onto policies featuring the new wording and built-in benefits at their next rate review, also occurring from 1 June 2023. 

Find out more about Asteron Life’s Employee Insurance here.

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