Just weeks after the release of data suggesting that insurance offerings will be a key determinant in the new choice of fund environment, Navigator has announced reductions of up to 29 per cent in its insurance premiums.
Announcing the move this week, Navigator’s general manager of products, Tim Cobb said protection was clearly topical as customers started considering using the new choice of fund regime to move their super to a platform.
“We believe it is important to take the lead in this space and we are well positioned because of the insurance expertise of our parent company, Aviva plc,” he said.
Navigators changes will see the premium paid by a 45 year old non-smoker on cover of $750,000 reduced from $78.98 to $66.15 a month while that applying to cover of $1 million will reduce from $105.30 a month to $83.79.
Cobb said the improvements would also be passed through to existing customers via an Aviva upgrade guarantee.
