MLC Group Insurance has announced increased levels of death and TPD insurance cover for eligible members within the ESI Super industry fund.
The insurer advises it has applied an immediate increase in benefits of up to 35% per unit for death and TPD insurance, at no additional cost to the member, with other insurance enhancements for ESI Super’s 21,000 members, most of whom are employed in the energy industry, including:
- Default units of cover increasing from 1 unit for all ages to 1 unit to Age 25, rising to 5 units from Ages 40 to 70 years
- New terms whereby, upon joining ESI Super, new members will have a 60 day period where they can apply for up to 6units of cover with no medical evidence required
- Availability of voluntary income protection cover to age 65 for eligible members
This initiative from MLC corresponds with its stated aim of forging new relationships in the small and medium sized fund sector.
Andrew Howard, General Manager - MLC Group Insurance said, “We believe all super fund members need insurance for the long term, so MLC’s aim is to work hard to build ongoing trust and mutually beneficial relationships with funds such as ESI Super.”
MLC Group Insurance reports it has grown by 37% in the 12 months to September 2009 and now manages more than $240m in insurance premium policies for industry fund, master trust and corporate clients.
