MLC Life Insurance upgrades product range
MLC Life Insurance has upgraded its MLC Insurance product range.
Income replacement ratios for Income Assure and Income Assure+ would be raised for customers with higher incomes so they could insure a greater portion of their earnings.
For Income Assure+, the firm would use an ‘own occupation’ assessment for clients with a five-year benefit period for the claim’s duration.
The two products were launched in October 2021 and provided income protection insurance for specific needs and budgets.
Michael Rogers, chief retail insurance officer at MLC Life Insurance, said: “Informing the design of our products is extensive customer, adviser and licensee research. Advisers want to provide their customers with greater flexibility and options in their policy, including higher income replacement levels and greater certainty of future premiums. The upgrades we are making now further enable our ability to provide quality protection to Australians”.
AUTHOR
Laura Dew
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
Add new comment