nib announce product refresh

nib have announced changes to most of their legacy and on-sale retail and group health products. One of the reasons for the move was to better align the benefits of their legacy and on-sale products, to make it easier and quicker to process claims, and in doing so, reduce costs and help contain premium increases. Changes to client’s cover will take place on their next policy anniversary, commencing from 1 February 2024 and then over the following 12 months.

Changes include:

·         aligning many of the benefit terms of the retail and group health cover benefits to those of Ultimate Health

·         aligning benefit maximums of the legacy products to those of the comparable on-sale product

·         Group cover benefit terms will also be refreshed

·         small enhancements to Ultimate Health Max and Ultimate Health benefit terms.

Adviser FAQ’s are here and more details about the changes are included in the supporting collateral available on nib’s adviser portal, in the Public Documents tab under Product Refresh Documents.

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