Offers

The Resolution Life business model as an in-force specialist means that we are committed to keeping the current product offering for your clients contemporary and attractive.
Outlined below is a reminder of the features and benefits of Elevate.
Benefits to existing clients and advisers of Elevate
Did you know that existing Resolution Life customers are still eligible for Elevate cover? The new Insurance Transfer Offer allows clients who are closing their super funds with FS, FLS, Summit/Generations/iAccess (clients with group insurance cover) to move to MyNorth (or elsewhere) and move the insurance to Elevate without underwriting (if eligible).

Some other benefits include:

• A commitment to the Code of Practice means we regularly review our definitions.
• Existing customers retain all terms and conditions of existing policies and will continue to have access to a range of services including policy alterations, changes to benefit types, change of ownership, exercise options etc.
• In 2021, Resolution Life supported 8,223 of our customers with $971 million in claims paid.

Benefits of choosing Elevate as your preferred client insurance solution

Some other benefits are:

• 12-month life buy back (on TPD) – Built-in benefit when TPD is an option (rider) attached to Life cover. It allows customers to ‘buy-back’ their Life Insurance cover 12 months after full TPD claim is paid, without providing additional medical information.
• Future insurability – Built-in benefit on Life and TPD cover, 11 personal and 3 business events. Allows clients to increase their benefit amount to certain limits without underwriting.
• Waiver of premium (Income Insurance) - This built-in benefit waives all premiums on the income insurance, and any attached life, TPD or trauma policies when on an IP claim.
• Indemnity (Income Insurance) - Highest average monthly income for any consecutive 12 months over the three years prior to disability.
• Partial rollovers – Available to fund Elevate super via an external superannuation fund.
• Plan fee waiver – Where a spouse, family member or business partner also have an Elevate plan.

Linking options for life insurance inside super

Our linking options are designed to help your client access the benefits of holding Elevate through super while ensuring they maintain a comprehensive level of cover outside super. This means you can offer clients the:

• Comfort and security of comprehensive benefits, and
• cash flow benefits of buying insurance through a super plan.

1. Flexilink

   FlexiLink TPD (any occupation and own occupation) and FlexiLink Trauma (Trauma Insurance and Trauma Plus Insurance) can be linked to life insurance through super.

2. PremierLink

   Links TPD Insurance (own occupation) outside super to a TPD option (any occupation) held inside super, or links benefits from the Income Insurance Premier Plan outside super to an income insurance plan held in super.

Income Protection

• Waiver of premium in built benefit — If your client is receiving income insurance benefits including partial disability benefits (excluding Nursing care benefit), we’ll waive premiums for all plans listed on their insurance schedule (or taken out at the same time) where they are the life insured.
• Total disability (Premier Plan and PremierLink IP)—A three tier flexible assessment approach at claim time, based on hours, duties and income.
• Specific injuries and sicknesses. An in-built benefit in all of our IP plans (except those in super) —If your client is diagnosed with a serious illness like cancer, we will pay your client up to six months’ worth of the claim, even if your client keeps working. The benefit is payable immediately. No waiting period needed.
• Cover Boost – (Future insurability)—For white collar professional and sedentary occupations this is an optional benefit that provide the ability to increase the Monthly Benefit by up to 20% on every third renewal date until the life insured 55th birthday without the need to provide medical evidence.
• Cover beyond age 65—Available to white collar professional and sedentary occupations at the plan expiry age the ability to convert to the Income
• Superannuation contributions option – Elevate will insure up to 100% of a client’s superannuation guarantee contributions.

Life Insurance

• Business solutions option - Clients can apply for the lesser of four times the insured benefit or $15,000,000 less the total sums insured under any other plan that provides life cover.
• Premium waiver option - Elevate will waive premiums for up to 3 months if a client is involuntarily unemployed.

Total and Permanent Disability (TPD) insurance

• Day one TPD in-built benefit - If your client suffers one of the listed 17 medical conditions, we would waive the requirement to be unable to work for three months.
• Life buy back option - No waiting period applies and it is an optional benefit. Clients can buy back the life insurance in the first 60 days after the TPD claim has been paid.
• Elevate TPD also offers an inbuilt life cover buy back feature which can be exercised 12 months after the TPD claim has been paid.

Trauma Insurance

• Trauma reinstatement option - Clients can claim a partial benefit for heart attack and cancer events even if they have already been paid a full claim previously for either condition. Also, any claim on cancer which is found to be unrelated to the first cancer claim may result in 100% of the benefit being paid again.
  Business Insurance

Key areas that Elevate can help protect the life insurance needs of your business clients:

1. Key person risk - In the unfortunate event that the key person dies or has to leave the business due to serious injury or illness, the business will receive a lump-sum payment.
2. Business expense coverage - This insurance product helps business owners pay fixed monthly expenses in the event they are totally or partially disabled and unable to work full time or part time due to sickness or injury.
3. Business succession planning – A business succession agreement is the key to ensuring that a business and its owners are protected if a co-owner departs the business. A succession agreement known as a buy/sell agreement can be used to cover the situation where a co-owner leaves the business due to death, serious injury or illness. This will provide a lump sum to the business that can be used to acquire the co-owner’s interest under the terms of the succession agreement.
4. Business loan protection - This is intended to protect a lender from financial loss following the death or disablement of a business owner who is liable for the repayment of money borrowed by the company. Resolution Life’s business loan provides a lump sum on the death or disablement of the insured to repay all or part of a loan