Life insurance premiums reduced by 20%

May 27, 2010 - PRLog -- Asteron issued the first life insurance policy in Australia in 1833 (formerly Australian Assurance), and has now come out with another industry first, launching a new policy benefit called the ‘Healthy Plus Option’ which rewards healthy Australians by reducing their life insurance premiums by 20%.

The 20% discount applies immediately after policy acceptance, and is lowered by 1% each year, to a minimum of 10% over the life of the policy.

However the client is also given the choice of refreshing their policy discount by completing their qualification tests again to re-qualify for the full 20% discount.

The discount is available on Asteron’s Lifeguard Life Cover policy under a stepped premium arrangement upon meeting certain health and other risk criteria.

To qualify for the discount, questions will include your:
• age, which must be between 30 and 50 years;
• smoking status, you have not smoked for at least 5 years;
• medical history such as your weight, body mass index, blood pressure, cholesterol;
• lifestyle and any occupational hazards;
• family history; and
• driving record.

Asteron has also stated that by combining this option with their bundling discounts, customers can save up to 35% on their life insurance premiums.

Russell Cain, Director of xLife commented on the launch: “We will certainly be keeping an eye on how people take to the 20% discount, and if any other life insurance companies decide to launch their own innovative product changes”.

“Life insurance companies are finally focusing on delivering real benefits to Aussies, and it’s about time too.” stated Mr Cain.

The Healthy Plus Option builds on the Asteron Life! customer health and wellbeing program announced last year and is an additional benefit to the Asteron Lifeguard product suite.

To find competitive life insurance quotes talk to an xLife adviser today or visit http://www.xlife.com.au/.

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