From 1 October 2021, all on-sale Income Protection (IP) products will be required to change in line with APRA’s recommendations to improve the sustainability of the industry and reduce the losses incurred as a result of poorly performing IP products. These changes will directly impact adviser recommendations, underwriting and claims. There will also be differences in policy administration for those clients with existing IP products, and those with the new product.
To support advisers through this period of change, NEOS has created a 3-part accredited webinar series. The series will explain the APRA regulated IP changes advisers can expect by 1 October 2021, why change is required, and the impact these changes will have.
Each webinar will be run by a NEOS subject matter expert, whether that be Product Manager, Matthew Hoyer, Head of Claims, Alex Wagner, or Technical Underwriting Manager, Chris Fielder. This will give advisers the opportunity to hear from those with the best understanding of the changes and the ability to ask questions directly of the experts.
While understanding the upcoming changes to IP will be critical for advisers, we also understand that their time is valuable. That’s why these webinars are designed to be short and sweet, running no more than 45 minutes, including time for questions. Each webinar topic will also be run twice, to ensure advisers can attend all topics.
1. Income Protection changes
2. Income Protection changes and claims
3. Income Protection changes and underwriting
Further information on each topic, as well as how to register, is available here.
Advisers won’t want to miss this important webinar series! If you’re interested in attending, please ensure you register ASAP. Your dedicated BDM is also available to support you with any questions about the upcoming IP changes or our webinar series.
For further background information on the changes coming to IP, please see the APRA and Actuaries Institute websites.