AMP Life Insurance and Income Protection
AMP is one of Australia’s oldest life insurance companies with a history in financial security that stretches back to 1849. Originally founded as a non-profit life insurer under the name Australian Mutual Provident Society, AMP has grown to become a publicly listed company on the stock exchange. 160 years on, AMP has since diversified its portfolio to include financial planning, select banking accounts, superannuation products for both individuals and businesses, and disability and income protection.
In 2011, AMP merged with AXA to bring together two of Australia’s oldest and largest life insurers and to further its competitive growth strategy. The $14 billion merger saw AMP become the biggest provider of retail super, managed funds and life insurance. As of 2013, AMP has over 5 million retail customers and 400 institutional clients across both Australia and New Zealand, also has a customer base spread out all around the world.
AMP can help with:
Under AMP’s Financial Services arm, the company offers a number of competitive products and covers with the option to choose between their Flexible Lifetime Protection products or their Elevate range.
Their Flexible Lifetime Protection offers four core products – Income protection, TPD Cover, Death Cover and Trauma Cover. You can include any or more of these covers and tailor them individually to suit your needs and lifestyle by adding optional benefits and features to you plan.
Whereas Flexible Lifetime Protection offers a more flexible option at a premium price-point, AMP’s Elevate products (a legacy series brought over from AXA) can provide more affordable life insurance for you and your family. Within AMP’s Elevate product series, you can choose from Life Insurance, TPD Insurance, Trauma Insurance and Income Insurance.
Why choose AMP?
Along with a strong, international customer base of 5 million and the largest network of financial advisers and planners in Australia and New Zealand, AMP is now putting in place a new three-year business efficiency program to redirect value to where customers need it most. Now taking a strong customer-centric policy, AMP is committed to developing business in growing market segments with its new self-managed super fund business, a strong policy on customer experience, improved cost efficiencies, investment in new technologies to assist with customer analytics, and the introduction of a new retirement offer and a multi-manager investment fund.
Want to compare AMP with the competition? You can compare BT’s insurance policies with other policy providers through our free quote service.