Frequently asked questions

Q. Will my premiums change?

Q. Will my premiums change?

Premiums will remain unchanged for the next three years for the vast majority of our members. That makes six years in a row without a premium increase, where in the same period some funds’ premiums have gone up more than 300%. Early next year we will start working with MLC Life Insurance to review our current insurance design, with the aim of building an innovative new product that better addresses members’ insurance needs and provides greater flexibility.

Q. Why was MLC Life Insurance chosen?

Q. Why was MLC Life Insurance chosen?

Our members are at the heart of everything we do, and we know our group insurance cover is very important - for most Australians life insurance through their super is the only cover they have, and many would struggle to get retail cover. We wanted to make sure you weren’t hit with big premium increases that eat into your retirement savings, but at the same time we didn’t want to erode the cover that you and your family rely on for peace of mind. It was important to choose an insurer whose values and approach to member service were similar to our own. Through the tender process it became obvious that there was a strong alignment with MLC Life Insurance on our Insurance beliefs, and our focus on digital engagement. MLC Life Insurance delivers cutting edge technology – allowing you to apply for or apply to increase your insurance online, as well as claim online and track the progress of your claim – and a caring approach to members that includes services to optimise your health and well-being, even when you’re not making a claim.

Q. Who is MLC Life Insurance?

Q. Who is MLC Life Insurance?

MLC Life Insurance is a standalone insurance provider, majority owned by Japanese insurance company, Nippon Life. MLC Life Insurance was founded as a mutual in Australia in 1886 and is Australia’s third largest insurer. They have a Melbourne-based claims team that includes allied health professionals (psychologists, physiotherapists, rehab counsellors etc), doctors, nurses and a specialist mental health team.

Q. When will MLC Life Insurance take over?

Q. When will MLC Life Insurance take over?

1 January 2018

Q. Why have insurance through my super?

Q. Why have insurance through my super?

Super funds negotiate bulk rates for their members, so members pay lower premiums than buying direct from an insurer. You may also pay less because you’re paying from your super account, which for many people is taxed at a lower rate than their take-home pay. If you joined Vision Super through your employer*, you may have a default level of cover with us without having to go through an application process.
  • It's easy to manage because premiums are automatically deducted
  • You can get the cover you need for you and your family#
  • Your premiums come out of your super account instead of out of your take-home pay
  • You can change your cover to meet the needs of you and your family.#
*If you are a Vision Super Saver member who is permanently employed full time or part time. #Subject to acceptance by the insurer.

Q. What will happen to my insurance cover?

Q. What will happen to my insurance cover?

Your insurance cover won’t change. MLC Life Insurance will continue to offer you the same level of cover.

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