{"id":69515,"date":"2024-01-30T16:42:52","date_gmt":"2024-01-30T06:42:52","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=69515"},"modified":"2025-03-14T12:02:21","modified_gmt":"2025-03-14T01:02:21","slug":"mlc-life-withdraws-level-premiums","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2024\/01\/30\/mlc-life-withdraws-level-premiums\/","title":{"rendered":"MLC Life Withdraws Level Premiums"},"content":{"rendered":"<div class=\"header row\">\n<div class=\"intro\">\n<h3>The news that MLC Life Insurance will no longer be offering level premiums to new business customers for its MLC Insurance product suite drew very strong reader interest this week&#8230;<\/h3>\n<\/div>\n<\/div>\n<p>MLC Life Insurance has announced it will no longer be offering level premiums to new business customers for its MLC Insurance product suite.<\/p>\n<p>This development coincides with the imminent release of a Supplementary Product Disclosure Statement which will come into effect on 3 February 2024.<\/p>\n<figure id=\"attachment_57571\" aria-describedby=\"caption-attachment-57571\" style=\"width: 150px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2021\/09\/Michael-Downey-e1660016391571.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-57571\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2021\/09\/Michael-Downey-e1660016391571-250x300.jpg\" alt=\"\" width=\"150\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-57571\" class=\"wp-caption-text\">Michael Downey<\/figcaption><\/figure>\n<p>Applying to the MLC Insurance, MLC Insurance (Super) and MLC Insurance (SMSF or WRAP) products, changes include:<\/p>\n<ul>\n<li>Removal of level premium base rates<\/li>\n<li>No change to stepped premium base rates<\/li>\n<\/ul>\n<p>MLC Life notes the changes do not impact existing customers \u201c\u2026who can continue to have and make changes to their premium policies.\u201d<\/p>\n<p>MLC Life\u2019s General Manager of Distribution, <strong>Michael Downey<\/strong>, had said in an adviser video update in December that the company would be removing level premiums from new business sales \u201c\u2026as we look to simplify our offer and provide products in line with the advice [advisers] are giving today.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The news that MLC Life Insurance will no longer be offering level premiums to new business customers for its MLC Insurance product suite drew very strong reader interest this week&#8230; MLC Life Insurance has announced it will no longer be offering level premiums to new business customers for its MLC Insurance product suite. This development [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":69518,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,8271,4,8291],"tags":[],"class_list":{"0":"post-69515","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-company-news","8":"category-pricing","9":"category-products","10":"category-story-of-the-week"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/69515","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=69515"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/69515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/69518"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=69515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=69515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=69515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}