July 2020.
On point

July 2020.

Welcome to On Point for July. In this issue we share some tips on getting the most out of Sharecare and highlight how indemnity income protection cover can help your customers. Enjoy!

Phil's Sharecare top tips

Phil O’Keefe, in our Distribution team, has really embraced Sharecare, especially after he found out his RealAgeTM is 53 - almost 9 years younger than his actual age!

Here’s Phil’s advice to help you get the most out of Sharecare:

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  • Keeping your trackers updated is worth it
  • You don’t have to read every article
  • Challenges provide great motivation
  • There’s a lot more to Sharecare than counting steps
  • You can also monitor stress without a wearable device

Keeping your trackers updated is worth it

“The daily discipline of adding information to the app keeps me in check with what’s important – weight, blood pressure, alcohol and food consumption, stress, fitness levels and how you sleep. Updating these triggers you to make positive changes to your lifestyle.”

You don’t have to read every article

Sharecare’s packed with great information.  Based on the info you provide, Sharecare tailors content for you to ensure it’s relevant. “I’ve found lots of gems, like getting a better understanding of the foods that are good for me…and those that aren’t so good!”

Challenges provide great motivation

 “I really took on board the June Step Challenge, logging 668,000 steps for the month. I was a little possessed - stepping with the family sometimes three times a day!”

There’s a lot more to Sharecare than counting steps

Phil’s connected his Garmin watch to Sharecare to measure his stress levels based on his heart rate. “Sharecare asks you about your stress levels because keeping calm and in control is better for your overall wellbeing - how you work and how you interact with your colleagues and family.”

You can also monitor stress without a wearable device

The app can check stress levels in your voice!

Sharecare August Challenges coming soon!

Both challenges kick off on 1 August - to join one or both go to the 'Achieve' tab in your app. For more information on Sharecare click here.

How indemnity income protection can protect your customer’s biggest asset

The ability to earn an income is your customer’s biggest asset, yet it’s often taken for granted. For your customers who are working to earn an income, protecting it should be a high priority.

There are two types of income protection (IP) cover - Agreed Value IP calculates cover based on income at the time of application, whereas Indemnity Value IP calculates cover based on income at claim time.

Fidelity Life’s Indemnity Value IP cover offers some great features including:

  • 75% of gross income – helps your customers keep life on track with up to 75% of their gross income as a monthly benefit.
  • Income offset – allows customers to keep working up to 10 hours per week, if they need to, without affecting their monthly benefit payment.
  • Benefit certainty for claims – as long as we have financial evidence to support the monthly benefit at the cover start date, the first six months’ benefit of an indemnity cover claim will be paid as agreed value, providing certainty about how much your customer receives.
  • Support beyond retirement – we offer an Extended Benefit Option (requires payment of additional premium) which continues to pay an existing claim beyond the age of 65 if your customer has a severe disability that impacts upon the activities of daily living which lasts beyond retirement age.

For more info, including a factsheet and policy wording, click here.

Reminder – premium changes from 1 August

We recently let you know about premium increases for some income protection cover, Key Person Cover and for new level trauma (including Trauma Multi) covers – these kick in from 1 August 2020.

These new premiums will be reflected in an Apollo deployment scheduled for 30 July 2020, and in your Apollo illustrations from 1 August 2020.

If you use Apollo desktop, it’s important you download the Apollo update from 30 July. For those using Apollo web, it’ll be automatically updated for you!

Illustrations completed before 1 August 2020 will continue to be honoured for 30 days from the date on the illustration in the usual way, as well as any new applications which are already in the new business pipeline.

We acknowledge some customers will be experiencing financial hardship so please make sure you’re aware of the options available so we can work together to find solutions – and help these customers keep their policies in place.

Click here for all the details.

Watch our claim video: Sam’s story

Our latest quarterly Be Free customer newsletter features Sam’s story. When you're young, fit and healthy, ‘it’ll never happen to me’ is a common reason to avoid getting life insurance. But as Sam’s story shows, a little cover can go a long way.

Read Be Free here – and while you’re at it, why not check out our other claim videos and stories here.

Watch Sam's video

Meet our new Head of Adviser Distribution

We’re delighted to announce Todd Allan has been promoted to Head of Adviser Distribution, replacing Craig Winterburn. 

The new financial advice regime, conduct and culture changes and, more recently, Covid-19 are all having an impact on our business, your business and the broader industry. 

So a key focus for Todd, and the rest of our Distribution team, is supporting you through this period of exciting change and helping you secure a successful and sustainable future. Congrats, Todd!

That’s On Point for July!