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What is insurance in super?

Insurance in super

It’s important to get the right cover for you—it’s your future after all.

What’s different about insurance in super?

Insurance in super is exactly what it sounds like—it’s insurance cover available through your super account. It can be a tax-friendly way to protect yourself and your loved ones, when life doesn’t go to plan.

This is because the cost of your insurance, otherwise known as premiums—are deducted from your super account (which means your take-home income won’t be impacted).

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Finding the right insurance cover for you

Getting the cover that suits your needs is important because having insurance cover can reduce your super balance.

Why choose MLC for insurance?

We care about protecting your future.

With this in mind, we’ve chosen MLC Limited as the insurer for your insurance in super.

MLC Limited has over 130 years of insurance experience and a proven track record of providing insurance to protect Australians from the unexpected.

It’s also up to us to review our insurance offerings with MLC Limited regularly—to make sure we’ve got the best cover for you. This means we can change our insurer at any time if we believe that it’s better for you.

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How do I get insurance in super with MLC?

To be eligible for insurance cover, you must be an MLC MasterKey Business Super or MLC MasterKey Personal Super member. You must also be an Australian Resident and aged between the relevant ages (as explained in the Insurance Guide).

Once you’re eligible, we’ll provide you with automatic insurance cover. In some cases, your employer may have selected insurance cover for you.

To apply for MLC MasterKey additional insurance please complete the Insurance application form. If you’re an MLC Wrap Super Series 2 member, get in touch with your financial adviser.

Useful terms

Insurance can be complicated. We’re here to help simplify things for you.