Asteron Life enhances employee insurance offering
Asteron Life enhances employee insurance offering | Insurance Business New Zealand
Life & Health
Asteron Life enhances employee insurance offering
Adds kids trauma cover and specific injury support to the policy
Life & Health
By
Kenneth Araullo
Asteron Life has made enhancements to its employee insurance product as a response to current market insights and to help employers attract and retain employees in the current labour market.
The revamped policy includes the addition of a children’s trauma cover, Asteron Life Connected Care with income protection and a new standalone specific injury support benefit. The latter provides lump sum payments if an employee suffers any of the 25 specific injuries. In addition, three new additional trauma diagnoses are now also covered, including diabetes and terminal illness.
In a news release, Asteron Life also announced that all employee insurance policies have achieved the WriteMark Plain Language Standard. This means that the policy is written in plain language that makes it easier to read, understand, and act on. New policies and updates to the existing policies using this WriteMark Standard will be issued from June 1, 2023.
Asteron Life life distribution EGM Graham Hill acknowledged that insurance can be confusing at times for customers; as such, this new standard should help people understand what they’re covered for.
“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,” Hill said.
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