Industry super fund Health Industry Plan (HIP) has partnered with MLC to boost the insurance offer to its members.
According to HIP, the change represents a significant upgrade for members and will be delivered at no increase in cost.
“We are very pleased to be chosen as the insurance partner for HIP,” said Andrew Howard, General Manager – MLC Group Insurance. “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 HIP.”
The improvements, which took effect from 1 November 2010, include:
- An increase of death cover of up to a total of 4 units without the need to supply supporting health statements
- An increase of 20% in the benefit for each unit of death cover
- An increase in the level of income protection cover from $770 to $1500 per unit of cover
- A new Terminal Illness insurance benefit available for all HIP members
