MLC has raised the bar on maximum cover levels for high income earners, increasing its maximum income protection sum insured to $60,000 per month.
Applying to agreed value income protection contracts, the new maximum level of cover is available across both stepped and level premium options.
MLC’s General Manager of Advice Product, Sean McCormack, said, “After listening to advisers and clients, we recognised a growing need for more flexible income protection monthly benefits for high income earners, going above the industry standard maximum.
This initiative took effect from 3 May 2010.
