TOWER Talk

Welcome to the July edition of TOWER Talk.
Providing you with current information concerning TOWER, our products and the industry.
In this edition:

UPDATE: TOWER Protection Policy Guarantee of Upgrade
A number of changes made to the TOWER Protection Policy on 1 April 2005 with the release of series 25. Under the Guarantee of Upgrade, we are pleased to be able to pass on a number of these benefits and new definitions to all series 23 and 24 clients. To read more, click here.

View your client correspondence and requirements online and in real time!
From 25 July 2005, when correspondence is created for your client(s), you will receive an email titled TOWER Client Correspondence Delivery. To read more, click here.

Super Fast Facts
Quick facts and updates on Superannuation to keep you informed. To read more, click here.

Canberra Corner
For an easy to read update on the progress of legislation through parliament, click here.

As you are aware, there were a number of changes made to the TOWER Protection Policy on 1 April 2005 with the release of series 25. Under the Guarantee of Upgrade, we are pleased to be able to pass on a number of these benefits and new definitions to all series 23 and 24 clients (i.e. CIB issued 15 March 2003 and PDS's issued 11 March 2004 and 1 September 2004) at no extra cost. The upgrade will be implemented on 1 September 2005, with benefit improvements to apply from 1 September. The following letters will be sent out to series 23 and 24 clients:

We will also be passing on the improved survival period conditions for stand-alone Crisis Protection Plan clients, with the requirement for the life insured to have survived the 14 day period “without the aid of a life-support system” removed. Please see page 34 of the TOWER Protection Policy PDS (series 25) for full details.

Finally, the upgrade rate changes mean that we will also pass on the series 25 Life Protection and Crisis Protection rates to series 23 and 24 clients where they are cheaper than the series 23 and 24 rates. Any applicable premium rate reductions will apply from your client’s next policy anniversary after 1st September 2005. In some instances the rate will not change, and in others the rate will be up to 19% cheaper, depending on the client’s gender and age. The upgrade will not cause an increase to your client’s base rates, however age related increases and CPI still apply, which may still result in an increased premium.

We hope you find the Guarantee of Upgrade useful in keeping your client’s valuable insurance cover current.

From 25 July 2005, when correspondence is created for your client(s), you will receive an email titled TOWER Client Correspondence Delivery. This will contain a link to the Adviser website where you can log in and view a menu displaying all documents created for your client(s).

This will ensure you are kept right up to date with your clients' new business requirements and all changes to your existing client information.

Unfortunately, we are unable to send Underwriting Requirement Requests by email as these contain attachments which may display private medical details. As such, these will continue to be faxed.

Want Less Paper Hassle? You will continue to receive copies of all client correspondence via fax or mail. If you do not wish to receive these, please contact your Service Team on your dedicated 1800 Adviser Service Number.

Disclaimer
This document has been prepared to be used by financial planners and advisers only. It is not to be provided to individual clients. The information contained in this document is general information only and cannot be considered to be financial advice. The information does not take account of the investment objectives, financial situation or particular needs of any particular client. To the extent permissible by law, TOWER Australia Limited (ABN 70 050 109 450, AFSL 237848) and its related companies (TOWER) specifically disclaims any liability that may arise for any direct, indirect, incidental, consequential or special damages that may arise from the access to or use of this document. No liability is accepted by TOWER for errors and omissions or for loss or damage suffered as a result of reliance on this document.

Important
If you no longer wish to receive the TOWER Talk please e-mail us at TowerTalk@au.towerlimited.com providing your full name and the email address these are being sent to.

Login to the TOWER adviser website to obtain other information on TOWER products, investments, or technical news. All current PDS's are on the site and can be printed off for sales use.



		Vol 7 - July 05
		Welcome to the July edition of TOWER Talk. Providing you with current information concerning TOWER, our products and the industry. In this edition: UPDATE: TOWER Protection Policy Guarantee of Upgrade A number of changes made to the TOWER Protection Policy on 1 April 2005 with the release of series 25. Under the Guarantee of Upgrade, we are pleased to be able to pass on a number of these benefits and new definitions to all series 23 and 24 clients. To read more, click here. View your client correspondence and requirements online and in real time! From 25 July 2005, when correspondence is created for your client(s), you will receive an email titled TOWER Client Correspondence Delivery. To read more, click here. Super Fast Facts Quick facts and updates on Superannuation to keep you informed. To read more, click here. Canberra Corner For an easy to read update on the progress of legislation through parliament, click here. UPDATE: TOWER Protection Policy Guarantee of Upgrade As you are aware, there were a number of changes made to the TOWER Protection Policy on 1 April 2005 with the release of series 25. Under the Guarantee of Upgrade, we are pleased to be able to pass on a number of these benefits and new definitions to all series 23 and 24 clients (i.e. CIB issued 15 March 2003 and PDS's issued 11 March 2004 and 1 September 2004) at no extra cost. The upgrade will be implemented on 1 September 2005, with benefit improvements to apply from 1 September. The following letters will be sent out to series 23 and 24 clients: Client upgrade letter – stepped rates Client upgrade letter – level rates We will also be passing on the improved survival period conditions for stand-alone Crisis Protection Plan clients, with the requirement for the life insured to have survived the 14 day period “without the aid of a life-support system” removed. Please see page 34 of the TOWER Protection Policy PDS (series 25) for full details. Finally, the upgrade rate changes mean that we will also pass on the series 25 Life Protection and Crisis Protection rates to series 23 and 24 clients where they are cheaper than the series 23 and 24 rates. Any applicable premium rate reductions will apply from your client’s next policy anniversary after 1st September 2005. In some instances the rate will not change, and in others the rate will be up to 19% cheaper, depending on the client’s gender and age. The upgrade will not cause an increase to your client’s base rates, however age related increases and CPI still apply, which may still result in an increased premium. We hope you find the Guarantee of Upgrade useful in keeping your client’s valuable insurance cover current. View your client correspondence and requirements online and in real time! Receive faster requirements notifications for new business; and Keep up to date with your client information From 25 July 2005, when correspondence is created for your client(s), you will receive an email titled TOWER Client Correspondence Delivery. This will contain a link to the Adviser website where you can log in and view a menu displaying all documents created for your client(s). This will ensure you are kept right up to date with your clients' new business requirements and all changes to your existing client information. Unfortunately, we are unable to send Underwriting Requirement Requests by email as these contain attachments which may display private medical details. As such, these will continue to be faxed. Want Less Paper Hassle? You will continue to receive copies of all client correspondence via fax or mail. If you do not wish to receive these, please contact your Service Team on your dedicated 1800 Adviser Service Number. Super Fast Facts The new pension and allowance rates and thresholds have recently been released. To view a snapshot of the changes click here. To view the updated Guide to Australian Government Payments click here. From 1 July 2005, accommodation bonds paid by older Australians moving into residential aged care will be exempt from the Social Security and Veterans’ Affairs assets tests, until the bond is refunded to the person or their estate when they leave the home. For more information click on the following link http://www.facs.gov.au/internet/facsinternet.nsf/seniors/accomm_bonds_qanda.htm Canberra Corner There are many changes made to legislation that may affect you and your clients month to month. For an easy to read update on the progress of legislation through Parliament, click here. Disclaimer This document has been prepared to be used by financial planners and advisers only. It is not to be provided to individual clients. The information contained in this document is general information only and cannot be considered to be financial advice. The information does not take account of the investment objectives, financial situation or particular needs of any particular client. To the extent permissible by law, TOWER Australia Limited (ABN 70 050 109 450, AFSL 237848) and its related companies (TOWER) specifically disclaims any liability that may arise for any direct, indirect, incidental, consequential or special damages that may arise from the access to or use of this document. No liability is accepted by TOWER for errors and omissions or for loss or damage suffered as a result of reliance on this document. Important If you no longer wish to receive the TOWER Talk please e-mail us at TowerTalk@au.towerlimited.com providing your full name and the email address these are being sent to. Login to the TOWER adviser website to obtain other information on TOWER products, investments, or technical news. All current PDS's are on the site and can be printed off for sales use. TOWER Australia Ltd A.B.N. 70 050 109 450 AFSL Number 237848