Risk Product, Company, and Regulatory Updates as at 4 October 2016

Product Updates
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Specific wording changes to Macquarie Life's products inside Zurich
Zurich has done a minor rejig on Macquarie Life's products. The specific changes are as follows, and can be found in the newly-released product disclosure statements (PDSs). 

Zurich FutureWise and Zurich Sumo - TPD definition updates
1. ‘Loss of sight’ and ‘loss of limbs’ are now separate definitions
2. All TPD definitions are now in a single section in the Glossary

Zurich FutureWise and Zurich Sumo - trauma definition updates
1. The heart attack definition is now the universal heart attack definition, offering broader coverage, replacing the 20 per cent payment Trauma Platinum event 'minor heart attack'

Zurich Active - health events
1. ‘Other body system’ events (inability to perform activities of daily living and occupational impairment) is used if the condition does not fit onto a body system category - now more prominently featured

Changes to Zurich FutureWise, Zurich Active and Zurich Sumo PDSs
1. Interim Cover - clarified to explain that the only benefits payable under interim cover are specifically described in the interim cover section
2. Life Cover Expiry - expires at the cover anniversary when the insured is age 99 (no age was previously given)
3. Eligibility - cover is available only to Australian residents applying from within Australia
4. There are no pricing changes

Company Updates
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Combined powers: new financial advisory Evans Dixon
Evans & Partners and Dixon Advisory have agreed to merge to form a new financial advisory company, Evans Dixon. Both companies will retain their current identities, but will work together on enhancing services and expanding its funds management capability both here in Australia and in the United States. 

NGS Super migrates to TAL, terminating CommInsure
TAL is NGS Super's new insurance provider after a review has opted out of CommInsure's services after 28 years. The new insurance arrangements are expected to be in place by July 2017. 

Regulatory Updates
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LIF reforms to be delayed until 2018
The transition into Life Insurance Framework (LIF) reforms is now delayed until 2018.