What’s new with the insurance premium calculator
Last month, you could use the insurance premium calculator to help customers looking to decrease their sum insured on standalone policies with primary benefits (TPD/Death/Trauma) only.
Since launch, we’ve focused on expanding the functionality of the tool. You can now use the insurance premium calculator for policies that have:
- Multi benefits
- Primary and secondary benefits
- Policy fee linked policies (excluding premier or flexi-link policies)
Using the insurance premium calculator
Please note if the policy does not meet the above criteria, you may see the following errors displayed.
| Message | Reason for the message |
|---|---|
 | The policy is a premier or flexi-link policy. |
 | The policy is not relevant for a decrease premium. |
For instructions on how to use our insurance premium calculator, see last month’s article.
Our next updates for the insurance premium calculator
We’re continuing to enhance the insurance premium calculator. We want to ensure it is a tool that you can use across different policies and help you keep fully informed about the changes the customer wants to make to their policy.
You can expect the following updates to the insurance premium calculator in the coming months:
- View the premium projection for up to 10 years
- View the premium breakdown for the customer’s policy
- Perform a premium cover decrease for Income Protection policies
We’ll keep you updated on the above through future editions of the adviser newsletter.
Share your feedback
If you have any feedback you’d like to share about your experience with the current features of the insurance premium calculator, please reach out to your Relationship Manager.
Read the October 2022 newsletter articles
Important information
Any advice and information on this website is general in nature and is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), which is part of the Resolution Life Group. Resolution Life can be contacted on 133 731 or via the contact us page. The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on the advice, you should consider the appropriateness of the advice, having regard to those matters as well as the relevant product disclosure statement (PDS) or policy document, available from Resolution Life at resolutionlife.com.au or by calling 133 731, before making a decision about the product. Consider speaking to a financial adviser if you have any concerns.
If you decide to purchase or vary a financial product, Resolution Life and/or other companies within the Resolution Life Group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium they pay or the value of their investments. You can ask us for more details.
