We’ve made some important updates to NEOS Protection, which means your clients can now access preferred premium rates, even when exclusions apply to their cover. And there are also improved limits for those with mandatory medical requirements.
Preferred rates eligibility
Your clients can now access preferred premium rates, even when exclusions apply to their cover.
We’re also making preferred rates available to clients who have been a non-smoker for at least one year, reduced from three years.
This applies to new applications effective from 16 February 2024. Please contact your underwriter about applications in suspense.
Improved limits for mandatory medical requirements
Clients applying for new Life, TPD, and/or Income Support Cover can now apply for higher sums insured, before mandatory medical requirements kick in. Further details are in the table below.
| Cover type | Age | Maximum sum insured before mandatory medical requirements apply | |
| Old limit | New limit | ||
| Income Support Cover | Younger than 45* | $12,500 | $15,000 |
| Life and TPD Cover | 45-49 |
$1,500,000 |
$2,500,000 |
| 50-54 |
$1,000,000 |
$1,500,000 | |
| 55-59 |
$750,000 |
$1,000,000 | |
| 60 and older |
$500,000 |
$750,000 | |
*New limit previously applied only for clients with a BMI of less than 30.
This applies to new applications effective from 16 February 2024. Please contact your underwriter about applications in suspense.
Updated new business premiums
We’ve also updated premiums for new applications, providing better value for most of your clients. For more information about preferred life eligibility and mandatory medical requirement changes, please refer to the new Adviser Guide.