MLC Group Insurance - What are the Group Insurance options?
MLC Group Insurance provides flexible and competitive group risk products that can be tailored to meet your clients' needs.
| Death | Provides a lump sum payment on the death of a member. |
|---|---|
| Total and Permanent Disability(TPD) | Provides a lump sum payment if the member is unable to ever return to work due to sickness or injury. (Available only in conjunction with Death cover.) |
| Salary Continuance | Replaces up to 75%* of a member's pre-disability salary if the member is unable to work due to sickness or injury. There is also an option to insure an additional amount of up to 15% of the member's pre-disability salary in the form of a superannuation contribution benefit. |
We also offer Death & TPD cover within a superannuation environment, through MLC Super Group Insurance, which helps minimise the higher tax payable on death benefits paid outside of superannuation.
This offer allows members to retain their insurance cover, regardless of which superannuation fund they might choose through exercising fund choice, while still taking advantage of the tax benefits of having insurance within a superannuation environment.
Why encourage your clients to provide Group insurance to their employees?
- It helps them to attract and retain valued employees
- Group Insurance generally offers lower cost premium rates than individual insurance rates as the benefits are defined for the group rather than the individual
- Protects your client, as an employer, against the expense of employee absence
- Easily accessible life insurance offering automatic levels of cover
Minimum requirements when considering our Group Insurance cover:
- your client must have at least 20 insured members
- minimum premium of $10,000 per annum
- minimum of 75% of eligible members within your client's group insured under the policy.
To find out more about MLC Group insurance, contact us on 1800 458 038 or email groupsales@mlc.com.au
The policy owner may choose to insure an additional amount up to 15% in the form of a Superannuation Contribution benefit, provided they remain a member of a complying super fund to which the policy owner contributes.
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