{"id":62162,"date":"2022-08-09T14:05:19","date_gmt":"2022-08-09T04:05:19","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=62162"},"modified":"2025-03-14T12:02:26","modified_gmt":"2025-03-14T01:02:26","slug":"mlc-moves-on-high-risk-occupations","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2022\/08\/09\/mlc-moves-on-high-risk-occupations\/","title":{"rendered":"MLC Moves on High-Risk Occupations"},"content":{"rendered":"
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Greatest engagement by advisers this week was with our story on the withdrawal by MLC Life Insurance from offering TPD or IP cover for certain high risk occupations – yet another indicator of claims and sustainability pressures impacting the sector…<\/h3>\n<\/div>\n<\/div>\n

MLC Life Insurance has confirmed that effective this week, it will cease offering Income Protection and TPD cover for certain high-risk occupations.<\/p>\n

This decision by MLC stems from a recent internal review on claims trends, where the insurer identified a significant number of claims arising from a small group of customers with high-risk occupation ratings. Whilst MLC has traditionally been known as an insurer who can offer disability cover to certain high-risk occupations, its analysis suggests that further growth in these customer groups may present sustainability challenges.<\/p>\n

According to MLC, this decision will bring it in line with the current practice of major insurers in the TPD and Income Protection markets.<\/p>\n

Whilst cover for Income Protection and TPD will no longer be available for these specific high-risk occupations, MLC maintains that, in many cases, its Life Cover and Critical Illness Cover options are still available or available under individual consideration.<\/p>\n

Key occupations that will be impacted by this decision (effective from 8 August 2022) include:<\/p>\n

    \n
  • Police Officer, Detective, Other (not motorcycle, airwing, bomb disposal, search & rescue)<\/li>\n
  • Police Officer, Dog Squad<\/li>\n
  • Railway Police<\/li>\n
  • Tram Police<\/li>\n
  • Train Police<\/li>\n
  • Police Superintendent<\/li>\n
  • Armed Services<\/li>\n
  • Private Investigator \u2013 armed<\/li>\n
  • Security Guard both Armed and Unarmed<\/li>\n<\/ul>\n

    Commenting on this move, MLC Life Insurance GM Retail Distribution Partnerships, Michael Downey<\/strong>, noted, like all life insurers, it regularly reviews the insurance cover it offers to customers: \u201cUnfortunately, it became clear that offering IP and TPD cover to a small group of high-risk occupations was no longer sustainable.\u201d<\/p>\n

    Despite this change, however, Downey said the insurer continues to offer cover, including for TPD and IP, to over 100 Special Risk occupations.<\/p>\n

    Advisers have been urged to contact their MLC Life Insurance Business Development Managers for further information.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Greatest engagement by advisers this week was with our story on the withdrawal by MLC Life Insurance from offering TPD or IP cover for certain high risk occupations – yet another indicator of claims and sustainability pressures impacting the sector… MLC Life Insurance has confirmed that effective this week, it will cease offering Income Protection […]<\/p>\n","protected":false},"author":3,"featured_media":62164,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,8291,230],"tags":[230],"class_list":["post-62162","post","type-post","status-publish","format-standard","has-post-thumbnail","category-products","category-story-of-the-week","category-underwriting","tag-underwriting"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/62162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=62162"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/62162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/62164"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=62162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=62162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=62162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}