Macquarie Life has introduced three levels of trauma cover and two levels of total and permanent disability (TPD) insurance to its FutureWise product.

The categories are Trauma Standard, Plus and Platinum, and TPD Plus and Platinum.

Trauma Platinum includes new or increased payments for minor heart attacks, breast cancer requiring a lumpectomy, severe rheumatoid arthritis, diagnosis of benign brain tumours and occupationally acquired hepatitis B or C.

It also features improved trauma reinstatement terms that provide partial payments for a second heart attack or second cancer diagnosis under reinstated cover.

Both levels of TPD cover include extended assessments; if an insured is unable to perform four out of six daily living tasks, the full benefit will be paid, even if they are still working.

TPD Platinum includes a built-in partial impairment benefit that provides payment for earlier stages of a disease or disability.

The changes follow a comprehensive review, adviser feedback and the incorporation of legislative changes, Head of Macquarie Life Justin Delaney says.

“We continually look for opportunities to adapt and evolve our product range to remain in sync with adviser and client needs, and be competitive in the market.

“It is also important for life companies to understand developments in the medical world and we continue to evolve our products to keep pace with these opportunities.”