The Policy Renewal Report includes details of your clients with Income Protection policies that will be renewing in the following three months, and includes an indication of the amount of the rate increase together with other standard increases such as age based and benefit indexation increases.
The report will also give you an indication of how the addition of AIA Vitality will reduce the impact of the rate increase to inforce policies by providing a first year discount of 7.5%.
The report will be updated monthly, and will help you to proactively contact your clients to discuss strategies such as:
- Moving from monthly to annual premium payments
- Removing benefit indexation increases
- Removing additional benefits
- Reviewing sum insured
- Reviewing the waiting period
- Reviewing the benefit period