Partners Life and you!Issue 15
As with all partnerships the keys to a successful commitment are communication and understanding.
Your first experience with Partners Life will usually be through an adviser who discusses your needs with you and helps to determine which products suit your requirements. Make sure this conversation enables you to understand the products being recommended and what that means for your future should an event occur. This should be a two-way conversation – ask questions, take your time to understand what the options are, and communicate to your adviser your objectives as well as your current situation. The purpose here is not to sell you some insurance, it’s to ensure that any policy you take out with us is the correct one for you.
When completing the application forms, keep in mind that everything in your application assists us in understanding your situation, and how we can offer you cover. There is a principle of good faith here – we need you to disclose anything that may be relevant to your application. This includes medical history, existing conditions or symptoms, treatments, or medication.
You also need to be sure you understand what we’re asking. While we do our best to keep the application forms clear, there may be terms that are unfamiliar or medical references that are perhaps a little unusual. Not everyone knows what “polyposis” is, and although Google is great at finding grumpy cat pictures it’s not necessarily the best source for medical terms. If in doubt, ask your doctor, your adviser, or call us.
If your adviser is completing the application with you, make sure you read through all the answers before signing. By signing the application form you are confirming everything is correct, so be sure it is. After all, this is your insurance, not theirs and maybe they misheard one of your answers or perhaps the question wasn’t quite what you thought it was.
Communication and disclosure doesn’t end when your application turns into a policy and we call to welcome you. Life is, after all, a series of changes both good and bad. Over time you may need to service your policy to increase cover when your circumstances change – marriage, children, changing jobs, or increasing debt, for example. When you apply for these increases, if you are asked to make new disclosures about any changes in your health, it is important to ensure you fully disclose any applicable information so the new covers can be assessed appropriately.
Incorrect or incomplete information may affect your claim, which is the last thing we want to happen. Partners Life is here to support our customers through difficult times by paying claims. We’ve paid over $280 million in claims since we began and we are proud of our unique claims philosophies.
Once you have a policy with Partners Life, there are many ways in which you can amend or adjust your covers to ensure the policy remains relevant for your changing circumstances. There are options to increase covers without further assessment of your health; there are options for premium holidays or suspensions in certain circumstances; optional benefits can be included where extra cover is required or can be removed if affordability becomes an issue; covers can also be reduced or replaced; and the lives that are covered can be added or removed. In a nutshell, you should be able to adjust your Partners Life policy to meet whatever circumstances arise, without the need to start from scratch with a new policy.
And because we apply increasing discounts to your premiums over time to thank you for your loyalty, you can retain the benefits of these discounts no matter what changes you make over the life-time of your policy.