Tower Australia Insurance

Tower Australia Insurance has its roots back in 1869. Its flagship company was based in New Zealand. The bank was run by the New Zealand government. It was named Government Life until 1990 when it was renamed TOWER.

During the same year, the company reached the borders of Australia and Tower Australia Insurance was born. Nine years later, the Tower Australia Group became autonomous from its New Zealand mother company. Tower Australia Insurance policies now specifically caters to Australians.

In 2007, the banking firm that houses Tower Australia Insurance policies won two major awards in the industry. Tower Bank was named Financial Review Smart Investor Risk Insurer of the Year and Money Management Advisor's Choice Risk Company of the Year. Tower Australia was also nominated in various life product categories. Tower Bank is the 4th largest life insurance company in Australia. It declared $664 million worth of premium in 2007.

The structure of Tower Australia Insurance

Tower Australia sees the Australian population in six separate brackets. These are young singles, young couples, young families, established families, empty nesters and mature singles. Tower Australia Insurance policies do not operate based on mere salary figures and property net worth. Tower Australia Insurance policies are fine tuned according to the client's lifestyle needs.

Tower Australia Insurance groups

Tower Australia operates in three groups: Retail Life Insurance, Group Life and Alliances and Investments. Tower's retail life insurance group offers Tower Australia Insurance policies for individuals directly. These include Term Life, Total and Permanent Disability, Income Protection and Critical Illness Tower Australia Insurance policies.

Group Life and Alliances include life insurance and income protection. Tower Australia Insurance policies under this group are coursed though company and industry superannuation schemes and investment platforms.

Tower Australia Insurance policies under the investment group cover superannuation and retirement products and services.