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Home» Advisers» Keep up to date» Oxygen» May 2011» Macquarie Life Active receives Innovation Excellence Award

Keep up to date

Macquarie Life Active receives Innovation Excellence Award

03 May 2011

Macquarie Life Active has been recognised for turning 'the life insurance sector upside down' through its 'cleverly-thought-out strategy' by CANSTAR CANNEX at this year's Innovation Excellence awards for Financial Services.

These awards recognise and encourage excellence in new products and services that make life easier for customers. Macquarie Life Active was acknowledged for 'open(ing) up life insurance to many more people who thought they couldn't afford life insurance'.

"To be categorised as innovative, a product or service should definitely be a first and perhaps open up a whole new market," Steve Mickenbecker, CANSTAR CANNEX Head of Research, said.

"Degree of uniqueness and difference to existing competitors are also important, as is the disruption factor - how significant is the impact of this product or service to the market."

Macquarie Life Active was launched last year as a comprehensive all-in-one insurance solution, rolling Life, TPD, Income Cover and Trauma into a seamlessly, integrated policy.

In addition to the CANSTAR CANNEX award, during the past year it has been identified as one of Risk Info's Best Initiatives of 2010, was named Best Life Insurance Product of the Year at the AB+F Insurance Awards 2010 and won the Your Money magazine's Best Value for Money award.

Since launch, 400 advisers have submitted applications for the product on behalf of more than 2,100 clients.

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The PDS is dated 11 June 2010 and will be issued by and available from Macquarie Life Limited (Macquarie Life) ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment Management Limited (MIML) ABN 66 002 867 003 AFSL 237 492 (“we”, “us”, “our” or “Macquarie” as the context requires). Macquarie Life and MIML are not authorised deposit-taking institutions for the purposes of the Banking Act (Cth) 1959, and Macquarie Life’s and MIML’s obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Life and MIML. In deciding whether to acquire or continue to hold insurance, investors should consider the Product Disclosure Statement (PDS) available from us. This information is provided for the use of licensed financial advisers only. In no circumstances is it to be used by a person for the purposes of making a decision about a financial product or class of financial products.