MLC Life Insurance has announced a series of enhancements to its Income Assure and Income Assure+ product range, following feedback from advisers. Considering cost-of-living pressures, customers will now have the option to ‘inflation-proof’ their cover to ensure the benefits they receive at claim stage keep pace with future increases to earnings. An annual increase in cover level up to... Read more continue reading
30
Jun
2022
Australia’s life insurers have announced the formation of a dedicated life insurance industry peak body, to launch later this year. The Council of Australian Life Insurers (CALI) will be the collective voice of the life insurance industry, with a focus on meeting the evolving needs and expectations of its customers, partners, stakeholders and the community,... Read more continue reading
23
Jun
2022
MLC Life Insurance is offering a discount on lump sum covers for new retail customers who have a Body Mass Index (BMI) within a specified range. Called Vivo Incentive, eligible customers will receive a lifetime discount of 7.5 per cent on their annual premium for new lump sum covers, including Life Cover, TPD and Critical... Read more continue reading
09
Jun
2022
Further changes to life insurance commission caps could see up to 87% of financial advisers stop providing standalone risk insurance advice, decimating the life insurance industry and exacerbating the nation’s underinsurance problem, according to ClearView’s submission to Treasury’s Quality of Advice Review (QAR). Around 67% of financial advisers would stop providing standalone risk advice and... Read more continue reading
08
Jun
2022
TPD: truth, tips, and tax Total and Permanent Disablement TPD cover is one of the most misunderstood types of life insurance cover, decried by many as being complicated, too costly, and too hard to claim on. But the reality is far from the truth, and against a backdrop of the 2021 IDII changes, smart advisers... Read more continue reading
23
May
2022
MLC Life Insurance is partnering with Insignia Financial to launch a new claims experience, providing members with greater choice in how they lodge and track their claim, enabling submissions to be assessed sooner. From yesterday, MLC MasterKey and Plum Super members insured by MLC Life Insurance will be able to lodge their claim digitally through... Read more continue reading
05
May
2022
Less than six months since the Australian Parliament implemented stapling reforms, new research[1] from MLC Life Insurance reveals a massive 60% of superannuation fund members have never heard of them, potentially leaving them with inadequate or no life insurance protection when they change jobs. The reforms, which came into effect on 1 November 2021, require employers to... Read more continue reading
29
Apr
2022
MLC Life Insurance and TelstraSuper are joining forces to pilot a new awareness program prompting members to check their eligibility for early cancer screening tests. Since the beginning of the coronavirus pandemic, thousands of Australians have delayed or deferred taking these important tests because of restrictions on social movement and access to health services. According... Read more continue reading
06
Apr
2022
Insurance through super is designed to protect your clients’ most valuable asset – themselves. That’s why having the right cover is crucial when it comes to a securing your clients’ financial future. This article, proudly sponsored by Russell Investments, examines the role of insurance inside superannuation. As well as being a tax effective savings vehicle,... Read more continue reading
05
Apr
2022
Market entrant iExtend will address a gap in the life insurance market by providing life insurance policyholders who are committed to cancelling their policies with another option, saving desperate Australian’s billions of dollars of cover forgone every year. iExtend has launched an innovative new life insurance offer which partners with life insurance owners to share co-ownership... Read more continue reading
16
Mar
2022
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