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MLC to start new insurance rollover plan
Wealth management and insurance specialist MLC will introduce a new "insurance rollover offer" to external superannuation funds in a bid to strengthen its existing insurance offering for clients.
MLC's executive general manager of insurance, David Hackett, said the move is in line with MLC's commitment to providing "affordable, flexible, and efficient" insurance solutions to its clients.
"We know how important it is to give advisers the insurance package and tools to meet clients' insurance needs," Hackett said.
He said the new function would make it easier and more affordable for advisers to help clients get the insurance most suitable for them.
The new rollover function will be made available for MLC Insurance (Super), MLC Protection (Life Super) and MLC Protection (Income Protection Super).
According to MLC, the rollover will provide a variety of features for clients, including an automated process for annual premium payments with immediate cover offered, 15 per cent tax credit upfront, a seven per cent discount on premiums paid annually, and up to 20 per cent off income protection premiums through MLC's multi-cover discount.
It will also have enduring authority to ensure that the correct renewal premium will automatically rollover each year.
Hackett said that supporting customers in realising their retirement goals was paramount for MLC in its provision of total insurance solutions.
AUTHOR
Daniel Paperny
Daniel Paperny is a technology journalist for Cirrus Media, writing for financial services mastheads FST Media, Money Management and Super Review. Previously, Daniel was the editor of the Bondi View newspaper, focusing on investigative news reporting in current affairs, finance, sports and politics.
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