mlc.com.au

Retired in April and new retirement plan was delayed until Oct.Had to pay an unreasonable fee for plan not suited to my future needs.Planner fought hard to retain my money not in my best interests.Whose I wonder?? Having investigated the super and pension accounts recommended by Senior financial planner found exhorbitant fees had been charged over the years. Concluded that fees a lot less in Plum. Do not leave your retirement super funds with MLC you will run out of money.After 29 years with NAB the lack of service provided by MLC was marred somewhat by what I considered a fantastic career.

I have had an mlc income protection policy for 14 years. I have made 1 claim 11 years ago for 2 months off work. Knee injury. I recently received my premium notice. A 20% increase from last year, add another 10% increase from the year before. That's a massive 30% increase in premiums in 2 years, yet my cover increases at a mere 1.5% cpi aligned. Bloody rip off. And the explanation I get...... to quote mlc call centre staff member.. " it's a base rate increase to make sure there is enough money in the pool to cover the increase in claims." My question to her. "Why not penalize those who are claiming instead of those who haven't claimed". Very annoyed and can't recommend mlc. Gold diggers!!! So much for looking after loyal clients....bye bye mlc

I had 12 months worth of superannuation with MLC totally $2,000. I changed job and forgot about that super for 2 years. When I enquired it was all gone on fees.

I have three policies of insurance with MLC.
When i made a claim for income protection they decided to deny my policies from inception.
I took my case before the Financial Ombudsman service. I won.
MLC still have not paid my claim.
They have asked for information and when it is provided they ask for further information, primarily accounting. The final straw came when they asked for the end of financial year reports for 2010/2011 and that period had not even finished yet....
So back to FOS to force MLC to assess and pay my claim.
Over 2 years and I am still waiting.....Fortunately I am only partially incapacitated, I would hate to think how MLC would behave if this were a totally disablement claim........goodbye house.
I have a One Path policy and One Path have been great. I have heard BT are also good.
I hope this helps...

Claims handling or rather the lack thereof...Very unprofessional, Appear to have a very high staff turnover.

I lodged my claim in 30/10/19 for income protection . I m on a 14 day waiting period and income protection platinum their best and most expensive one. I just got declined on 19/12/2019 . They made a decision without my GP report. They did not get any information from my GP.They did not even bother to contact to him and request a report about my illness and what kind of medication I am on.
It was not only their fault as well,
they request a report from my GP but administration team from my clinic recieved the request and made a mistake and just send them my clinical file and bill invoice without checking with my GP .

I asked them to follow up my GP reports for 2 weeks, they did not do anything about it. They just checked my clinical files for last 4 years and I was not sick last 4 years that is the reason they made a decision there is nothing wrong with me.

I got diagnosed for my illness in early of July 2019. Also I used the Best Doctors which MLC provide for their clients and they suppose to be the best . They diagnosed my illness and suggested to my GP what kind of medication I should be on and what kind of treatment I should get. I send Best Doctors report to MLC and they did not even consider Best Doctors report. It is very sad when you think you covered yourself and your family buying a insurance policy and paying nearly $4400 per year.

Their financial advisers picked the suitable insurance policy for me and my family future. When I think about it now it feels like a big scam . I wish I did not roll over my super to MLC and bought their insurance policy. It is just a big waste of time and so much paperwork for nothing. When you know they do not even check your GP report for a income protection claim. When they were delivering their decision, they had a laugh at my face in the middle of our conversation without thinking what I was going through right at that time mentally . I found that very disrespectful.
What is next to do for me cancel my insurance policy with them and roll over my super to my old super company again.

I have not been able to work properly for 2 years and they rejected my claim. Utter disgraceful company. Incompetent, arrogant and clueless, use anyone else except MLC. Never been treated like this all my life

I transferred my superannuation into MLC a few years ago at the recommendation of a financial adviser. Admittedly I am cautious, being over 60, so I invested conservatively, which of course means lower returns.

But the fees! My fund started to steadily haemorrhage money away. My financial planner kept jiggling the investment mix, making wishy washy promises to me about new financial product streams within the fund that would give me better returns, but the losses persisted. I would have lost less by withdrawing the lot and putting it in a term deposit, even allowing for tax liability!

Then the fund my wife is in, a highly rated, leading industry fund for university employees, allowed employee spouses to join. So I eagerly transferred out of my MLC pension fund to this industry fund. Within a couple of months I noticed my fund, now a pension fund, growing again even taking into account regular pension withdrawals.

The other problem with MLC Super is that you only get limited reporting. With my new industry fund, everything is transparent, available online and updated regularly. So easy and inspires trust.

Avoid MLC!!!!

Unfortunately, I have been with MLC for over 3 years and since then I just have issues and wasting my time. The company I was working for didn' provide my full name and since then it has been a nightmare. I can't do anything because they need me to proof my change of name which they only accept if you got married in Australia (which I didn't). Everything has to be posted by mail (which year they are???) and even when I offered to handle it in person because of their office and PO BOX its cross street from where I am, they still want me to post it. They have the worse process to help you, but when comes to a company to set you with them, they don't even bother to ask for a photocopy of an id to confirm the person they are setting up exist. Basically they want your money to go there and don't help you at all. If you are thinking to join them, re-think. I had over 15 phone calls and documents sent to them during those 3 years with the hope this would be sorted and keep having issues. No more. I am moving to somewhere else.

I am preserve age MLC finance adviser said I can retire all I have to do is leave my job I left my job that was biggest mistake I have made now they saying you cant retire and I cant access my account I was very sick for days I am not happy I wish I never roll over to MLC they have played with my life I have diabetes no income coming don't trust what ever they say there finance advisers don't care all they care they get paid to do trick you so don't ever leave your job even if you are in preserve age wait till your full retirement age I wish I never roll over to MLC I am not happy they have ruined quality of my life

I had a today claim that took a year to get approval, they took so much time infact they took 12 years of my super 46,000. I got Nothing!! I. Suing them and they told me after dragging my case on that covid is the reason I got nothing.they are evil

I had around 26000 AUD with them since 2015, nothing was added to that in last 4 years and they just took massive fees off my account. An example, without my consent or knowledge they'd insured me for death and disability for a premium about 1600 $ per annum. The falsely say the return is 9 % but there was absolutely no return on my investment. Im going to sue them for misleading people. Stay away from this company they are being investigated by royal commissioner for their suspicious conduct.

I have been with MLC for well over 10 years. Upon review now (closer to retirement), I notice that MLC that on the commencement of my fund (around 2005) they took 5% off my rollover amount as fee. Does anyone that have MLC superannuation (Masterkey) know if rollover is subjected to chargeable fee ? They claim it is chargeable but yet to provide the relevant disclosure statement to backup this statement.

Submitted claim March 2017 through my super company, MLC spoke with my doctor 3 times, he has specified in writing i cannot work, they call today to say it has been declined, no reason given, nuff said.

So Nippon Life bought a stake in MLC in 2016 and now the integration (or lack thereof) has affected their customer relationship system (even more)... you'll get pushed from pillar to post without anyone taking responsibility of a simple query. Poorly trained staff make phone calls long and painful. Online interface is also poorly designed - so whether you're on the phone or online - your experience will be a shambles.

Just got my June 2018 statement and find that the fees and charges are $700 plus more than what has gone in for the year. Will be rolling what is left into an Industry Super Fund ASAP. I've been with MLC since 1987.

These thieves skillfully drained half of my super account by forcing on me their "opt out only" junk disability and death insurance with premiums that balloon out at over $1300 per year, yet I could never qualify to make a claim or get any benefit for. The super trustee has a duty to look after your superannuation for retirement, but not these guys, they're happy to have your funds dwindle away to nothing via this disability death insurance scam. MLC you guys belong in jail.

I've been with MLC income protection for about 20 years, and had accident 5 years ago. Will never work again. MLC have been fantastic. Usuallly doctor reports are required each month, and MLC now have changed this to annually. They pay on time. No problems. The initial claim process was quick and simple as well

I have been with mlc for over 20 years and last 10 years on claim. They have been terrible and would not recommend to anyone as you will end up worse after dealing with the claim - constant pathetic administration by the majority of claims consultants and continuous attempts to get you off your claim. No support and copious amounts of money spent to discredit you and your claim
A few claims consultants were reasonable to deal with but turnover is very high so they dont last
they hardly ever meet their own kpi's, often dont pay on time or right amount. just dont care as want you off the claim. your own doctor is feels pressured by their actions.