In an email to advisers, Partners Life says: “We're customising our trauma cover so that clients don't have to pay for every feature if they don't really need it.”

The company says this is the third and final phase of a number of pricing changes it has made this year “so that advisers like you can give clients more choice to help meet their needs and budget.”

It says introducing flexibility, including to its monthly disability cover options, shows advisers “loud and clear” that it's been listening to advisers' feedback.

Chatswood Consulting director Russell Hutchinson welcomed the changes.

“It's a beneficial development, especially from one of our larger, more innovative providers,” Hutchinson says.

“Broadly speaking, what they've done is introduce this level of product flexibility, which gives the customer the ability to pick and choose the cover they want,” he says.

While other insurance companies do offer similar flexibility, “it's not universal.”

Chatswood will have the changes loaded into its Quotemonster comparison tool by early Wednesday.

Partners Life began making these changes in July when it cut a number of prices and had promised to introduce greater flexibility by this month.

“We aim to keep our product offering sustainable while addressing affordability concerns,” the company says.