Insurance

The Provisio Insurance module provides a detailed member needs analysis for Life, TPD, and Income Protection cover. It is pre-customised with your fund’s specific insurance designs, including cover levels, limits and premiums, and takes into account the member’s current financial picture.

The Insurance module takes into account:

• Tax payable on a claim so the net cover provided meets the member’s insurance requirements;
• Lump sum requirements for a member’s existing debts;
• Annuity requirements for future income needs;
• Existing member assets that may mitigate the need for cover;
• Fixed or Unitised cover, customised to your insurance designs;
• Exact cost of cover, expressed as a weekly, monthly, or yearly premium amount;
• Any waiting periods for benefit payment;
• Any benefit limits;
• Cover amounts for each type of insurance, so that the member knows what to expect
  in the event of a claim.