Zurich has introduced a first-year 15% discount on premiums funded from super fund rollovers.

The reduction was previously available only on policies written outside super.

As part of its product update, the insurer will also extend the accidental injury benefit to policies with super ownership.

Zurich Life & Investments GM Retail Philip Kewin says the changes make insurance more accessible to Australians.

“The latest Reserve Bank rate cut highlights trepidation regarding the state of the Australian economy, and there is no doubt many households are tightening their belts,” he said.

“Against this backdrop, the increasing popularity of insurance written on platform is easy to understand. Our latest update reinforces the financial appeal of this strategy and extends the coverage of super-owned policies to bring them into line with non-super equivalents.”

Other enhancements include a new home support option and more generous treatment of income benefit claimants not working before their temporary disablement.

Zurich will offer an automatic upgrade to existing Wealth Protection customers, with policies dating as far back as 1998 benefitting from enhanced definitions.