MLC insurance upgraded
MLC has added a number of new features to its Personal Protection Portfolio and Life Cover Super products.
Some of the key changes include income protection now being available through Life Cover Super, the ability to purchase critical illness or total and permanent disability cover as an extension to life cover on a different policy (for example, for a spouse), and a split premium facility with additional payment options.
Existing clients will need to apply to add the new features to their products, although some upgrades will be delivered automatically.
MLC revisited the products after recent regulatory changes to contribution limits and the removal of Reasonable Benefit Limits made the purchase of insurance through superannuation more attractive.
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