Feature Article

Have you heard about your new dedicated New Business and Existing Business Service Teams?

Since beginning April, your Adviser Service teams have been delivering specialised service to you in dedicated New Business and Existing Business (Alterations) teams.

This has changed the way you contact your service team via phone.

Select your Risk New Business or Existing Business team via

• 1800 286 937; or
• your dedicated dealer service 1800 number.

Email Communication

To contact your Risk New Business or Existing Business teams via email, use the following email addresses:

• Risk.NewBusiness@au.towerlimited.com
• Risk.Alterations@au.towerlimited.com

These email addresses will replace the former state based risk team email addresses. For your convenience, the state based email addresses will remain open in the short term, however will be re-directed to the email addresses above.

Both our Risk New Business and Risk Existing Business teams are experts trained to answer all your Risk related queries. Please feel free to discuss all your risk queries with either Risk New Business or Existing Business Team.

If you have any queries please contact your Sales Manager or your Service Team.

ARC Investment Update

We have recently been advised by the investment manager BT Financial Group“BT) of certain changes to the BT Wholesale Property Investment Fund (the Fund) offered through the ARC Master Trust. Click here for details of these changes »

We have recently been advised by the investment manager Perpetual Investment Management Limited (Perpetual) of a change affecting the Perpetual Wholesale Diversified Funds (“the Funds”) offered through the ARC Master Trust. Click here for details of these changes »

Changes to our Strategic Asset Allocations

As part of our ongoing monitoring and commitment to continually improve our investment offerings we have recently reviewed the investment strategies of our diversified investment options. As a result of this review we have adjusted the strategic asset allocations (SAAs) of these investment options to ensure we can continue to efficiently meet each investment objective.

Please read details of our new SAAs for certain investment options offered under ARC Master Trust and some of our Classic Products.

What is Strategic Asset Allocation?

The strategic asset allocation (SAA) is the asset allocation that the Trustee has decided is most appropriate to meet the investment option’s investment objective. It is also known as the neutral asset allocation or benchmark.

The aim of SAA is to ensure the asset mix is appropriate to meet the long term liabilities of the investment option. It will vary from time to time based on market movements and investment decisions within the minimum and maximum ranges listed. The actual asset allocation is available at this website.

TOWER places great emphasis on regular monitoring and we will continue to review these objectives, strategies and strategic asset allocations yearly with a formal review every 3 years to ensure we continue to meet your investment needs.  

Premium Rate Changes for Disability Income Protection Insurance

Why are premium rates changing?

A continuing trend of high claims experience means we needed to review our premium rates for Disability Income Protection Products. Unlike many of our competitors however, we have not increased our premium rates for four years. Policyholders will experience a premium rate change of up to 5%.

When is the change effective?

The rate changes will be effective 1 August 2006. Policyholders experiencing a premium rate change will be advised at time of renewal from 1 August 2006 onwards.

What products are affected?

The following TOWER Disability products are affected:

• Disability Income
• Friends Disability Income 
• Indexed Income Insurance
• Income Security  

Policyholders of these products will experience a premium rate change of up to 5%.

Remaining disability income product policyholders will be advised of the applicable increase from June onwards. Copies of all intended communications will be sent to you in due course.

Are both level & stepped premiums affected?

Yes.

When will policyholders be advised of the changes?

Holders of the abovementioned policies will receive a letter outlining the premium rate changes on 1 May 2006.  View a sample letter here »

Who do I contact if I have any questions?

If you have any questions about the premium rate changes please contact your State Sales Team.

31 March 2006 Retail Annual Statements

The Managed Investment Bond and Roll-over Deferred Annuity Annual Statements, which have a reporting period of 1 April 2005 to 31 March 2006 will be mailed to TOWER members over a one week period, commencing on 15 May 2006.

Copies of your Client's statements will be available online at the TOWER adviser website under the Client Correspondence on the "Your Business Online Section" from 12 May 2006.

To access the site, follow the steps below:

1. Login into www.toweradviser.com.au. If you do not have a password, please contact our TOWER Helpdesk on 1800 815 530.
2. Click on the Your Business Online tab.
3. Click on the Client Correspondence tab.
4. Type in the policy number for the client you wish to view

If you have any questions about the 31 March 2006 Retail Annual Statements please contact your Sales Manager or your Service Team.