MLC has released details of the latest insurance enhancements introduced into its MasterKey Business Super platform.
The changes are intended to provide MasterKey Business Super members with a more competitive offer and reflect MLC’s consistent message across all its risk insurance upgrades of providing insurance solutions for the long term. They include:
- New Income Protection insurance options and definitions including Income Protection insurance to age 65
- Extension of Life insurance to age 70
- Aggregate reduction of 10% on standard insurance premium rates
- Automatic Death and Total and Permanent Disability (TPD) insurance cover
- Increased maximum sum insured for Life, TPD, and Income Protection insurances
Natalie Jarvis, MLC’s Head of Product, MLC Business Super, said the company was offering a more competitive product by improving the cover and making it easier for clients to hold insurance for the long-term, adding:
“The current market conditions have highlighted the importance of understanding insurance and making certain you have adequate cover in place. Now is the time for employers and employees to consider their insurance arrangements.”
