A new group life insurance offering has been launched combining elements of AMP and Axa services.

AMP Group Insurance includes automatic cover for new employees under certain conditions, total and permanent disability cover and salary continuance when non-work-related illness stops an employee working on the first day of their cover.

AMP Director Group Wealth Protection Rob Bergin says covering for illness on day one will give people automatic insurance without the need for underwriting.

“This is in addition to immediate death and terminal illness cover, which our group insurance provides for all causes – work or non-work-related health issues,” he said.

The new offering provides a minimum plan for 10 employees and relaxed underwriting requirements for larger plans.

“A low minimum plan size means AMP Group Insurance can fulfil the needs of small groups of employees and caters for the requirements of a selected group of employees within a bigger business,” Mr Bergin said.

AMP and Axa’s stand-alone group insurance offerings are now closed to new business.

“AMP will continue to review benefits provided to existing members on an ongoing basis, to ensure their group insurance solution remains compelling and relevant,” Mr Bergin said.