MLC Insurance launches income protection insurance for high income earners

MLC Insurance has launched an income protection insurance product for high income earners, such as medical practitioners, legal practitioners and high earning executives (surgeons, doctors, solicitors).

The new level of benefit provides certainty for high income earners in the event that they are unable to work for a period of time as a result of sickness or accident.

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 life insurance industry standard maximum".

"The new income protection insurance monthly benefit offers clients the ability to protect their income up to $60,000 per month on an agreed value basis. However you will need to show at least two years of financial evidence to justify this monthly benefit".

"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.

MLC Insurance now provides one of the highest levels of cover designed to ensure high income earners can access adequate levels of protection for their lifestyle and any associated expenses.

The increased monthly benefit under MLC Income Protection insurance will be available from 3 May 2010.

For more information on this new offer please contact an xLife adviser today.

Source: MLC Insurance, April 2010

May 2010