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MLC Life Insurance and Income Protection

MLCMLC Insurance is one of the largest wealth management and insurance companies in Australia. They specialise in providing investment, superannuation, insurance and private wealth solution for corporate and institutional customers. They currently hold a 16.6% market share for Life Insurance products, and are the second largest superannuation provider in Australia with a 19.5% market share.

With a history that traces back to 1886 as a part of The Citizens’ Assurance Company Limited, MLC has experienced two takeovers in its 127-year history. In 1982, Lend Lease made a partial (50%) takeover of the insurer, and in 1985 it became a wholly owned subsidiary of Lend Lease.

In 2000, MLC was purchased by National Australia Bank

MLC can help you with:

  • Critical Illness Insurance
    As MLC’s trauma insurance plan, you can help remove any financial worries if you’re unable to work for a period of time. You’ll receive a lump sum payment to go towards rehabilitation, medical costs, as well as your regular living expenses.
  • Income Protection Insurance
    If you’re too sick or injured to work for a period of time, MLC can replace part of your income until you’re ready to work again.

Why choose MLC?

With a strong commitment to fostering vibrant and sustainable communities, MLC is involved in a number of socially-conscious initiatives. They currently sponsor the Australian Open Tennis, are a partner of the Garvan Institute for Medical Research, support crisis and suicide prevention hotline Lifeline, and established the MLC Community Foundation in 2008. The MLC Community Foundation funds investments through two community programs. The Grants Program supports specific community mental health organisations and programs, and The MLC People Program aims to encourage and support their employee’s active engagement in community activities.

MLC has received numerous awards from various industry and media bodies for their products and services. In addition to receiving ongoing recognition for their excellent customer service, just some of their awards include:

  • Life Insurance Company of the year, 2010 (Australian Banking + Finance Magazine Awards)
  • Innovation Excellence Award for Best Doctors, 2010 (Canstar Cannex)
  • Industry Excellence Award, 2010 (Financial Services Council)
  • Winner of Life Insurance Innovation Award for Best Doctors, 2010 (Association of Financial Advisers / Plan for Life)
  • Major Financial Advice Group of the Year, 2009 (CoreData)
  • 5 Heron quality stars awarded for MLC Employer Supe, MLC MasterKey Business Super, MLC MasterKey Super, MLC MasterKey Super Fundamentals, MLC Navigator Retirement Plan
  • Finalist: Life Insurance Company of the Year, 2010 (Australia and New Zealand Insurance Industry Awards)

Want to compare MLC with the competition? You can compare MLC’s insurance policies with other policy providers through our free quote service.

Page last updated: January 22, 2015