MLC upgrades insurance in business super product
MLC has upgraded the insurance component of its Masterkey Business Super product.
The changes include providing new income protection insurance options and definitions, reducing Masterkey Business Super's standard insurance premium rates by 10 per cent, and extending its income protection insurance and life insurance until age 65 and 70 respectively.
MLC has also increased the maximum sum-insured for life, total and permanent disablement and income protection and introduced automatic death and total and permanent disablement insurance.
Natalie Jarvis, the head of product at MLC Business Super, said the current market environment made it an important time for workers to consider their insurance arrangements for adequate cover.
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