Upcoming enhancement to Apollo.
As of Friday 30-August 2024, when creating illustrations and quotes in Apollo, there’ll be changes regarding benefit periods assigned to Waiver of Premium (WOP) covers.
These changes enable WOP benefit periods to be set correctly based on the covers included on the illustration/quote.
At the moment, when a WOP cover is selected to include in a policy illustration or quote, the WOP Benefit Period is always set to ‘ToAge70’. From Friday, If WOP cover is selected to be included in a policy illustration or quote, the WOP benefit period will be set to ‘ToAge70’ if the covers include:
- Lump sum cover (Life cover) with WOP.
- Lump sum cover (Life cover) and IP cover with WOP.
- Income protection cover with benefit period ‘ToAge70’ with WOP.
If WOP cover is selected to include in a policy illustration or quote, the WOP benefit period will be set to ‘ToAge65’ if the covers only include:
- Income protection cover with WOP, where Income protection cover benefit period is 2-years, 5-years or ‘ToAge65’.
We hope this enhancement makes it easier for you to set the correct WOP benefit periods based on the covers you’re working with.
If you have any questions, please reach out to your Business manager.