Feature Article

Enhancing our online communication service!

Thank you to all Advisers for all the positive feedback we have received from the changes we have made to improve and streamline our communication processes by moving from fax and printed copies of client correspondence to email.

We will now continue these enhancements by applying these changes to all reports generated for former FAI Life issued policies and Risk policies that commenced from 2001 onwards.

What is changing?

Communication for the policies mentioned above will now be emailed to you in the form of a ‘TOWER Client Correspondence Delivery’. Copies of the complete documents will be available online at the TOWER Adviser website.

To access the site, follow the steps below:

• Log in into www.toweradviser.com.au.
• Click on the Your Business Online tab.
• Click on the Client Correspondence tab.
• Type in the policy number for the client you wish to view

What if you do not have a logon to the TOWER Adviser Website?

If you do not currently have a logon to the TOWER Adviser Website, click on 'New User' on the TOWER Adviser Website site menu to be set up with access.

If you do not have a password, please contact our TOWER Helpdesk on 1800 815 530.

What Client letters are available online now?

Letters and reports that can now be viewed online are for former FAI Life issued policies and all new Risk policies commencing from 2001 onwards.

When will this happen?

Effective Monday 20 March 2006, you will receive your ‘TOWER Client Correspondence Delivery’ which will contain client correspondence and regular reports. The frequency of receiving this document will be dependent upon your client activity. For multiple policies, notification will be collated and sent on a daily basis.

Let us know your delivery preference!

The benefits of receiving online information means you have automatic access to view communication at your convenience and only print those you require, helping you maintain a less paper-based office. If you have yet to provide us with your email address, please contact your Service Team or your Sales Team.

We also recognise that our Advisers have different ways of keeping client records. You are still welcome to receive all your communication via fax or printed mail. Your Service Team or Sales Team can again assist in updating your details.

Updated Pension Valuation factors for pensions commencing on or after 1 January 2006

Further to last month's TOWER Talk regarding the changes to Pension Valuation Factors, we have now issued a supplementary PDS dated 20 February 2006 for the ARC Allocated Pension Plan PDS.

If you have any further questions regarding this supplementary PDS or the changes to the Pension Valuation Factors, please contact one of our Adviser Service Consultants on 1800 286 937.

Read the supplementary PDS »

Premium payments process improved for Retail customers

A large focus of our client communications strategy is to better manage and enhance our contact with customers.

In line with this and recent changes to legislative requirements, we have now improved our billing, dishonour, overdue and lapse process.

For retail policies administered on the LEO system, these improvements will be effective from March and will include:

• New, customer friendly billing, dishonour, overdue and lapse letters.
• Billing Notices issued 35 calendar days before a premium is due (an increase from the current 20 calendar days).
• Overdue notices issued 15 calendar days from the premium renewal date if premiums remain unpaid.
• Lapse notices issued 50 calendar days from the renewal date if premiums remain unpaid (an increase from the current 30 calendar days).
• Lapse commission write back will be aligned to the policy lapse date of 50 calendar days from the renewal date.
• Agent notices summarising these events will be provided on a weekly basis (currently these are produced daily with less information. The improved version allows for a more streamlined and user friendly approach).

Please contact your Service Team and/or Sales Team if you have any questions regarding these changes.