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
Lonsec Research and Ratings has appointed a head of sales, completing the leadership team to boost its reach with financial advisers.
Allianz Retire+ has announced major leadership changes with the appointment of a new CEO and distribution heads to help expand its presence across the wealth channel.
The RBA assistant governor (business services) is set to speak at the Women in Finance Summit 2025, taking place this November.
Momentum Media’s wealth publishing network is pleased to announce the launch of the annual Australian Wealth Management Summit 2025.
