Benefits of Choosing AMP

In 1849 the Australian Mutual Provident Society was founded to provide life insurance benefits to the growing population of a young country still finding its feet in the world. Since that time AMP has grown to become a publicly listed company on the stock exchange where it adopted the goal of being acknowledged as a high performing company that not only meets, but exceeds, its responsibility to its shareholders, customers, planners, employees as well as the communities in which it operates. In short AMP Life Insurance was searching for a position in the community where it could be a foremost provider of sound financial advice while delivering simple, straight forward value for money products and the best possible investment performance.

The AMP AXA Asia Pacific Merger

In line with its stated ambition of continuous growth, AMP Life Insurance this year (2011) merged with AXA Asia Pacific Holdings bringing together two of Australia and New Zealand’s oldest businesses. AXA Asia Pacific becoming wholly owned by AMP Limited, otherwise simply known as AMP. This merger created new competition in the financial area as it extended its services in the non-bank sector directly challenging the wealth management business previously believed to be the sole domain of the big four of Australian banking.

The merged company now has the size and resources to be a formidable non-bank competitor in wealth management in Australia and New Zealand. The merger delivered no changes to the products or support services offered by AMP to its customers as trading in the new AMP shares commenced on March 31, 2011.

AMP Now Australia and New Zealand’s Leading Wealth Management Company

AMP Life Insurance is still provided by the strengthened AMP, which is now a leading Australian and New Zealand wealth management company. It also provides selective investment management services in Asia through it investor arm, AMP Capital Investors, a fast growing business in Australia as well in the Asia region. Today’s AMP actually has two core business. That of AMP Financial Services and that of AMP Capital Investors.

It is the AMP Financial Services that is now responsible for providing AMP Life Insurance. Along with providing life insurance it also has responsibility of delivering financial planning services, superannuation, risk insurance, selected banking products, retirement savings and income products. It is a leading provider of retail and corporate superannuation and retirement income products in Australia and New Zealand. AMP today has around 790,000 shareholders, 3.8 million customers, 3,700 employees and more than 2,100 financial planners in Australia and New Zealand.

Compare Insurance Types from AMP

• Income Protection Insurance: Recieve a monthly benefit of up to 75% of your regular income if you are unable to work due to serious illness or injury. Covery necessary expenses including your mortgage payments, phone and utility bills, petrol, school fees, food and other day-to-to-day expenses.
• Total and Permanent Disablement Recieve a lump sum payment to cover medical expenses, major debts and to help provide for your future if you are totally and permanently disabled
• Death Cover: Give your dependents financial dependence in the unforseen event of your death. Dependents will recieve a lump sum payment to help cover the immediate and future costs in the event of your death or if you are diagnosed with a terminal illness.
• Business Overheads Insurance: If you own your own business Business Overheads Insurance will provide you with funding to cover the immediate costs of running your business including rent, utility bills.
• Group Life Insurance: If your company has 10 or more employees Group Life Insurance will give them assurance that they and their families are covered if anything should happen.
• Trade and Tradesman Insurance: If you are working in any kind of trade such as plumbing or building, Trade and Tradesman Insurance protects you, your tools and the people working for you should any damage happen.

The Future

It is now the aim of AMP to not only be the regions foremost provider of AMP Life Insurance but to be the pre-eminent wealth manager and investment organisation in the Australia – New Zealand – Asia region. It plans to lead the market in Australia and New Zealand as well as in selected parts of Asia by continually looking for potential growth areas. It has the ambition of building a reputation of being the most trusted financial service business and it intends to do this by having its clients best interests at heart while delivering them quality products. It is planned to drive future growth in five ways, that of:

• Investing in key parts of its business where it can underpin a strong and growing company. For example, brand, technology, people and new growth areas.
• Mould AMP Capital Investors into a top level investment manager.
• The further growing of customer numbers in high value areas.
• Expansion of its Asian business through AMP Capital Investors.
• Continual growth of its financial planner capacity and broadening its distribution.

AMP Life Insurance gives policy holders the security of knowing that if you were to die (or if a traumatic happening was to occur if you had included trauma cover) your family would at least have financial protection. AMP Life Insurance death cover works by making available a lump sum payment to your family should you die (or be diagnosed with a terminal illness under some policies). It is important for all people, of all ages, particularly if you have others who are dependent on you financially, or if you have large debts that will be left to others to have to pay on your behalf, to have sufficient death cover arranged to at least forego the passing on of such hardship to others.

AMP Life Insurance has built AMP into one of Australia and New Zealand’s largest financial organisations. Its continual growth over the last 150 years has been outstanding as will be its planned venture into the Asian region to further grow its investment branch.