This innovative move provides a superior level of protection and certainty for high income earners in the event that they are unable to work for a period of time as a result of accident, illness or major trauma.
Sean McCormack, General Manager of Advice Product at MLC Insurance 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.
“As a result, we’re leading the industry in offering clients the ability to protect their income up to $60,000 per month on an agreed value basis.”
MLC Insurance provides the highest level of cover designed to ensure high income earners can access adequate levels of protection for their lifestyle and any associated expenses.
“Following on from the launch of Best Doctors service to MLC Critical Illness insurance clients, raising the level of the MLC Income Protection monthly benefit is another example of how we are challenging industry norms.
“Reflecting our stance on supporting sustainable, long-term insurance solutions, this new income protection option will also be available on level premium,” Mr McCormack said.
The increased monthly benefit under MLC Income Protection insurance will be available from 3 May 2010