Australia: New GSC Product launched

Hannover Life Re of Australasia Ltd., our Swiss Life Network Partner in Australia, is pleased to announce the launch of a Group Salary Continuance product (GSC) as of August 2004.

The GSC policy provides, after a waiting period of 30 or 90 days, a maximum of 75% of pre-disability income plus a maximum of 10% Employer Superannuation contributions – where applicable – in the event of total or partial disability for a maximum of 24 months. The monthly benefit is limited to AUD 20,000, while the minimum plan size is 25 employees insured.

This new non-participating product is available as a rider to a group life policy or to a group life and group total and permanent disability cover.