MLC Insurance Adviser use only. Upgrade your insurance offer to MLC

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1 Adviser use only Upgrade your insurance offer to MLC 2010

2 2010 MLC s winning ways Our track record Life Insurance Company of the Year 2009 MLC wins Life Insurance Company of the Year, again! For the second consecutive year we were voted Life insurance Company of the Year by ANZIIF in 2009 (the fourth time in six years). In awarding MLC the title, the independent panel of 12 judges said they were impressed with the levels of research undertaken both into MLC s customer base and level of adviser satisfaction. MLC places a strong focus on meeting the needs of their clients and are a market leader in long-term insurance solutions. This stems from the belief that MLC customers should have access to long-term, affordable insurance, (so that) they still have their policies in place when they are more likely to make a claim. Our product design and upgrade philosophy were also key reasons cited for our award.

3 Life Insurance Company of the Year 2009, 2008, 2006, 2004 Australia & New Zealand Insurance Industry Awards Best Life Insurance Company 2006, 2004 Australian Banking & Finance Magazine Insurance Company of the Year 2005, 2004, 2003, 2002 Personal Investor Best Life Insurance Product of the Year 2009, 2006 Australian Banking & Finance Magazine The independent judges cited MLC s upgrade philosophy and one policy series as the key reasons for the award. Income Protection Product of the Year 2008, 2007 AFR Smart Investor Blue Ribbon Awards Income Protection Product of the Year 2008, 2007 Asset Innovation Awards Income Protection Product of the Year 2007 Plan for Life / AFA Income Protection Product of the Year 2005, 2003 Personal Investor Best Income Protection Insurance 2005 Money Magazine Best Term and TPD Risk Insurance 2006 Money Magazine Term Life Product of the Year 2003 Personal Investor Trauma Product of the Year 2004, 2003 Personal Investor Critical Illness Product of the Year 2004, 2003 Personal Investor Business Overheads Product 2006, 2005 Money Management

4 Contents What s covered in this guide Why MLC? 01 What does the future hold? 02 the cover you asked for 03 MLC s upgrade philosophy and One Policy series 04 Pricing stability 05 Closed for business? 06 Long-term insurance Better for your client and your business 07 Insurance inside and outside super 10 Critical Illness MLC has the exclusive edge 12 Critical Illness Marketing support 14 Exclusive to MLC! Best Doctors 15 First hand experience of Best Doctors 16 MLC Life Cover Super & MLC Personal Protection Portfolio improvements 18 Life Cover, Total & Permanent Disability and Critical Illness 20 Total & Permanent Disability (TPD) 21 Income Protection 22 MLC Underwriting 25 MLC s claims philosophy 26 It s not only personal clients who are at risk. Australian businesses are too. 28 Building your business through MLC Business Insurance 29 MLC Business Insurance Marketing Support 30 The importance of research 32 We re Australia s # 1 insurer 33 More marketing support for you 34

5 Why MLC? Our approach to insurance means at the stage of life when your clients are older and more likely to make a claim, they ll be able to afford to continue to hold cover. By taking a long-term view of insurance, as MLC does, you can provide your clients with security of cover and build longer lasting relationships. Automatic policy upgrades MLC insurance products have been specifically designed to provide long-term protection. So we regularly review and upgrade our policies to ensure your clients always have the best and latest cover we offer. In fact, we ve passed on over 200 improvements, including pricing reductions, to our clients in the last 20 years. Priced for the long term Our stable pricing and level premium options make it possible for your clients to keep their insurance for longer. So they have protection when they are more likely to need it. Our claims philosophy Our approach to paying claims is also refreshingly different. We look for reasons to pay a claim, not for unreasonable excuses to knock it back. Still #1 Recent data 1 shows MLC continues to lead, providing more personal insurance to Australians than any other insurer. Adviser use only Why MLC is better for you and your clients MLC gets Lifewise MLC is participating in the IFSA initiative Lifewise. Launched in May 2009, it s seeking to raise consumer awareness about the need for insurance, the types of cover on offer and the different methods of obtaining insurance. We re a member of the working group, helping the industry to develop both a new website and tools designed primarily to educate consumers. Useful sales tools Guaranteed upgrade philosophy Claims and underwriting expertise Award winning Stable premiums Have you seen our newly published brochure yet? It s available on EasyOrder through mlc.com.au Competitive products Transparency 1 As at September 2009, DEXX&R league tables, retail clients, in force premiums. Upgrade your insurance offer to MLC Page 01

6 What does the future hold? Here s a brief extract from a speech Steve Tucker, MLC s Chief Executive, gave at last year s Investment and Financial Services Association (IFSA) Conference where the headline topic above was discussed. The role of insurance forms an important part of an individual s financial plan and also has a significant role in addressing many social policy considerations associated with Australia s underinsurance problem and the related issue of Government dependency. This brochure details many of the innovative ways we re making insurance a more attractive proposition to help you grow your business in the future. The purchase of Aviva makes MLC Australia s largest life insurer MLC s purchase of Aviva has made us the largest combined provider of individual and group management services with a portfolio of $1.1 billion premium in-force. 1 This makes us the largest life insurer in Australia. 2 Market Share Premium in force (Individual Risk: Lump Sum) Changing the industry landscape At the 2009 Insurance Forum we launched the fantastic, new to Australia, medical advice service by Best Doctors. This is exclusive to MLC Critical Illness insurance clients and their immediate family. 3 We believe this provides a unique strength to your discussions with clients about the need for critical illness insurance. MLC Critical Illness insurance clients now have the comfort of knowing that should they become seriously ill, they will not only be financially secure, they will also have access to leading medical advice. For more details see page 15. MLC + Aviva CommInsure AMP ING Tower Prefsure Aviva s insurance operation complements ours. Like MLC, Aviva has a sound underwriting philosophy (which has been endorsed by reinsurers) and consistent claims and pricing policies in line with MLC s. During 2010 we re planning to leverage the strengths of both operations to create a best of breed offer to make sure we remain at the forefront of the Australian insurance market. AXA Suncorp Life Westpac Zurich AIA 1 As at October As at September 2009, DEXX&R league tables. Retail clients, in force premiums. 3 Family means your client (being the life insured under the policy), their spouse and any dependent children. Page 02 Upgrade your insurance offer to MLC

7 the cover you asked for The top five When recommending an insurance provider, you ve told us there are five things you need. 1. Sustainability to be there if your clients need to claim. 2. Competitive premiums now and in the future. 3. Strong definitions and conditions regular upgrades ensuring a competitive and quality product that stands the test of time. 4. Consistent experiences for your clients in underwriting and claims. 5. Strong brand recognisable and reliable. We provide all of this at MLC, making us an easy choice. Thinking smarter about sustainability There have been many changes in the insurance market in the past few decades, often leading competitors to dramatically increase their premiums. Through smart product design, and by avoiding unsustainable market fads, MLC continues to deliver a sustainable product with stable premiums for your clients. All of which adds up to a better solution for them and for the stability of your business. MLC Premium Sustainability Income Protection: male, age 40, non-smoker Compare this figure to some of our competitors, where premium increases over this period have typically been much higher. There have been instances of individual clients having to face premium increases of 50% and more. It s not unusual for some life insurers to implement repeated significant increases over time. Based on past industry competitive practices, and the introduction of often unsustainable features, the likelihood our competitors will continue to increase premiums in the future is high. Upgrade your insurance offer to MLC Page 03

8 MLC s upgrade philosophy and One Policy series We re responsive to both adviser and client needs Our philosophy on upgrading our clients is unlike any other. Since 1986 we ve improved and enhanced MLC Life Cover Super (LCS) and MLC Personal Protection Portfolio (PPP) and passed these enhancements on to our clients. Whenever we improve the benefits of LCS and PPP (that don t require an increase in premium rates due to the improvements) we add those improvements to your client s policy. Our upgrade philosophy means your client doesn t need to remember what has and hasn t been added because upgrades automatically apply so you can be confident your client s cover stays up-to-date. And with over 200 improvements passed on to LCS and PPP clients in the last 20 years, you can see our long-term commitment to providing them with the best cover possible. We believe our history of supporting our clients is what distinguishes us from other insurers. One Policy Series. Unlike many of our competitors, MLC has only one policy series, which is very advantageous for clients and their advisers. Clients benefit as they all have the same cover regardless of whether they took out their policy yesterday, a month or a decade ago. Advisers benefit as they know exactly what their clients are covered for by simply reviewing the most up to date PDS. DEXX&R survey During 2008, MLC instructed DEXX&R to complete a review of the marketplace. They found: The complexity involved in implementing this process is the primary reason for not having implemented this process across all closed series of products. The focus in product development has been solely on new business. The failure to upgrade products would appear, in most instances, to be as a result of these companies being less client focused and less inclined to undertake the detailed analysis required when products are revised to ensure there is a clear upgrade path for existing policyholders. MLC s upgrade process has delivered substantial benefits for stakeholders. These benefits include improvements in policy conditions coupled with competitive premiums for policyholders, efficiencies derived from simplicity of policy administration and claims management for MLC shareholders and a common and easily understood suite of policy benefits and definitions for MLC advisers. Page 04 Upgrade your insurance offer to MLC

9 Pricing stability Unlike our competitors, who may have several series of their products, we have only one product series. When it comes to pricing changes, we also pass premium reductions on to all new and existing clients. Our aim is to maintain the stability of your clients premiums to ensure there are no large surprises for them, or you, when it comes to renewal time. Our clients don t have to cope with the extreme volatility in premiums experienced by clients of some of our competitors. Indeed, if we do have to make any increases to our premiums we try to do it in such a way as to make them affordable to all clients. We believe it s essential to provide clients with access to value for money insurance to meet their needs. And, just as importantly, help them to keep that insurance for the long term so that they still have it when they need it most. MLC Premium Sustainability Life Cover Standard (Level) Age 40, $500K Benefit, with Pol Fee Upgrade your insurance offer to MLC Page 05

10 Closed for business? For an industry dedicated to redressing Australia s underinsurance problem, a new report demonstrates there s still some way to go to before credibility is improved. An independent report by DEXX&R has found the insurance industry is still overly focused on capturing new business, to the detriment of their existing customers. The practice of engineering honeymoon-style products, only to close them off when they become unprofitable, is leaving customers exposed when they most need protection later in life. What s more, many advisers are still unaware of the shortcomings of closed product series. And without realising it, they may find their clients are being left stranded in policy no-man s land. Report on upgrade practises DEXX&R s Upgrade Practice Report, completed in late 2008, was commissioned by MLC to determine whether closed or upgraded policies were more beneficial for customers. The report compared policy benefits available between 1998 and 2008, and found customers were overwhelmingly better off in policy series which automatically upgraded to the latest benefits. However, in spite of the advantages an upgraded philosophy provided for the consumer, the report found most life insurance companies were not actively extending this approach to their customer base. As well as missing out on many of the benefits introduced in later product series, policyholders in closed product series are exposed to potentially greater premium increases than those with similar benefits in current series products, said Mr Kachor of DEXX&R. This is because as the pool of policyholders shrinks over time due to natural discontinuances and replacement activity, the extent of premium increases required to recover any adverse claims experience increases. Mr Kachor acknowledged the role MLC has played in championing sustainable product development. MLC was a pioneer in the industry in releasing a plan where it would automatically convert all existing policies into current terms and conditions, he said. What that has meant is they chose not to introduce very generous terms during the late 90s, and similarly didn t encounter an adverse claims experience during 2000 and 2003 to the same degree as competitors. Mr Kachor concluded, And what that all comes around to is that our report found that MLC s customers benefited from their stronger discipline in ensuring that policy terms and conditions could be sustained over the long term. This articles is an extract from InFocus magazine, Edition 2, Page 06 Upgrade your insurance offer to MLC

11 Long-term insurance Better for your client and your business Level premium Last year we demonstrated the long-term benefits for both you and your clients of level premium as well as insurance inside super. Since then you ve seen sales in level premium increasing (see graph). We introduced another first in 2009 with our five-year-guarantee on level premiums that helped contribute to this success. Level Premium % of $ Sales Total PPP/LCS All Channels We intend to maintain the emphasis on the long-term benefits of level premium in the coming year. Riskinfo reported, Plan For Life March 2009 data shows MLC s current and new business books holding a significantly higher proportion of level versus stepped premiums within income protection products than any other insurer, and that MLC is amongst the leaders in this statistic for lump sum products. MLC was commended for leading the market with our drive to level premium by the Master of Ceremonies at the AFA and ANZIIF awards in The other insurers were encouraged to follow our lead to help clients retain their insurance for the long term. Level Premium % of $ Sales Super vs Non Super All Channels Since March 2007 MLC has seen a 129% increase in new business structured on a level premium basis outside of super. And a staggering 659% increase inside super with an unprecedented 55% of all new applications now being written on level premium inside super. When your client takes out insurance and chooses to pay a level premium, they re making a long-term decision about their insurance cover and their cashflow over time. In effect, they re choosing a higher initial cost now for more affordable protection in the future. Upgrade your insurance offer to MLC Page 07

12 Long-term insurance Better for your client and your business Have you considered making a similar choice for your business? Selecting hybrid or level commission on the occasions when your client selects level premium, has a powerful impact on the cashflow and value of your business, long-term. Graph 1 shows the difference in the cashflow generated from one policy over 20 years. Level premium combined with level or hybrid commission is particularly beneficial for your business. Where a level premium is right for your client, level or hybrid commission provides your business with a much stronger cashflow each year. This can contribute to your business ability to effectively provide ongoing service to these clients. Your business will be more valuable. If, after 20 years, you sell your business (based on a multiple of ongoing revenue using current rates), this policy may be worth more than double the value of the equivalent level premium, up-front commission policy. Consider the split premium option when your client has short, medium or long-term needs. Or it can help you in discussions with your client about affordability. Graph 1 Yearly Commission Male Age 38, NS, $1m Life + $500k Total & Permanent Disability +$500k Critical Illness The graph below demonstrates accumulated revenue, year on year. In this example you can see your business may be better off from year two onwards. Graph 2 Accumulated Commission Male Age 38, NS, $1m Life + $500k Total & Permanent Disability +$500k Critical Illness Page 08 Upgrade your insurance offer to MLC

13 MLC s tools for selling on the level We ve created a range of material that helps explain the long-term benefits of level premium versus stepped premium to clients. Available to order now from EasyOrder through mlc.com.au Level premium or combination Poster #67095 Level premium or combination DL flyer #67097 Level premium or combination Concept Card #63659 Here are a few comments from advisers who ve had success with level premium discussions with their clients. My clients are in the age group and generally need Income Protection insurance (IP) but they also need every spare dollar to reduce mortgages and debt so the opportunity to place IP inside superannuation and move them across to a level premium will result in some pretty significant cost savings and was a fantastic opportunity. Leigh Stafford We ask every client how long do you wish to keep this insurance for? They step back, and realise they actually need it for the long term, ie to age 65. So taking the limited view of stepped premiums is doing the wrong thing for most clients. Chris Cachia With the tools available we can show the different scenarios and crossover points where our clients benefit by having level premiums. Consequently we ve much greater confidence in recommending level premium. Grant Taylor Level premium For more affordable insurance, long-term A key thing for our business was the emphasis on the level premium structure and moving clients in super with their Income Protection insurance. Liam Diggin A level premium m remains consistent over time 1, making it more affordable able long-term. In contrast, stepped p premiums ms increase dramatically atically as you get older. For more information speak to your financial al adviser about the benefits of level premium. The most significant being gprotection when you need it most. Level Premium Making your insurance more affordable long-term MLC Critical Illness insurance (standalone) Level vs stepped premiums Level premium Making your insurance more affordable long-term It s often when you get older that you need insurance the most. The end benefits (see case study on next page) Level Stepped Saving When recommending a level product we also need to look at the insurer, to be sure they can provide those level rates long-term. For sustainability I can t look any further than the NAB MLC group. Chris Cachia 67095M0608 Upgrade your insurance offer to MLC Page 09

14 Insurance inside and outside super Accentuating the positive Those of you who attended the 2009 Insurance Forum may recall some positive insights from advisers such as Liam Diggin about the long-term benefits of insurance inside super. Liam said, I think the move to Income Protection inside super was a huge catalyst for us. It allows us to link the long-term nature of superannuation and insurance together and have that conversation with our clients. So talking about how their premium structure should be level, naturally ties into the long-term nature of their plans. It s a natural fit. This advice has certainly been working well, with clients seeing sales increasing in super by 55%; and 44% outside super. Insurance inside super MLC Life Cover Super (LCS) LCS provides a range of insurances to meet your clients needs and budgets, conveniently packaged with a single policy fee and annual statement, within the super environment. The insurances form part of a policy issued by MLC Limited to MLC Nominees Pty Limited as the Trustee of the Scheme. You can select from: Life Cover Total and Permanent Disability Income Protection, and Premium Waiver. Premiums can be paid by deduction from eligible MLC MasterKey super products or other payment methods. Insurance outside super MLC Personal Protection Portfolio (PPP) PPP offers a portfolio of insurances to suit your clients needs with a single policy fee and because life is full of changes, you can modify your clients insurance cover in the future making this an excellent insurance option for individuals and small family businesses or partnerships. You can select from: Life Cover Total and Permanent Disability Critical Illness Income Protection Business Expenses, and Premium Waiver. Each policy can cover up to six lives, and each life insured can have different types of insurance and levels of cover. The flexibility of Connected Benefits This offers greater flexibility to structure insurance both inside and outside of super. Policy owners can purchase Total and Permanent Disability (TPD) and/or Critical Illness insurance as part of Life Cover for a given life insured (where the Life Cover is issued on a separate policy with a different policy owner, as in a super policy). This provides clients with greater flexibility in structuring their insurances inside and outside of super. This gives more flexibility in the insurance solutions you can offer clients. It s now cheaper for clients to attach their non-super TPD and Critical Illness policies to their Life Cover in MLC Life Cover Super as the products are now connected at extension rates 1. Only one policy fee will apply (the policy fee will be applied to the policy with the Life Cover). When an insurance policy is issued as a Connected Benefit, the benefits paid under one policy will reduce the benefits payable under the other. Page 10 Upgrade your insurance offer to MLC

15 Case study Mike and Catherine each have Life Cover and TPD inside their super. Mike s policy has a sum insured of $1 million for Life Cover with $500,000 TPD extension cover. Catherine s policy has a sum insured of $500,000 for Life Cover with $300,000 TPD extension cover. Mike and Catherine would like to purchase $200,000 of Critical Illness cover each but can t afford to pay the premium for Standalone cover (Critical Illness cannot be taken out on policies inside of super). So what can they do? Mike and Catherine can take out Critical Illness extension cover on a separate joint policy outside of super and have it linked to their Life Cover inside of super. This means they can buy the Critical Illness cover they need in a way which is more affordable for them. 1 General insurance stamp duty rates will apply to the extension covers. Upgrade your insurance offer to MLC Page 11

16 Critical Illness MLC has the exclusive edge Only 2.8% of Australians have Critical Illness insurance 1, which is a worry when you consider the statistics. They show that 50% of Australians over 30 will suffer at least one of the seven health conditions that can lead to long-term disability and, consequently, a loss of income. 2 The Whys of Critical Illness insurance Why do only 2.8% of Australians have it? Why don t people understand its importance? Why don t people understand what it covers? Why don t we offer more clients a policy they are more likely to claim on? Why do we make assumptions about what clients can afford? To understand people s attitudes to critical illness better, and to throw some light on these questions, we commissioned research by Newspoll (an independent market research company) in August Only 57% of those surveyed 3 were even aware Critical Illness insurance existed, and 43% of those thought it was for an accident/injury or for not being able to work because of a disability. You can tailor coverage for different clients with our Standard, Plus and Plus with Extra Benefits Option versions. Four of the conditions covered under Critical Illness Standard (ie Heart Attack, Coronary Artery Bypass Surgery, Malignant Cancer and Stroke) account for 91% of MLC s Critical Illness claims. Your clients have the option to fix the premium and decrease their coverage over time. Full Critical Illness insurance is provided to age 75 for a stepped premium or decreasing cover, a full five year s more Critical Illness insurance than most of our competitors. Life Cover Buy Back is an option available for Plus or Standard. A choice of an Any Occupation or Own Occupation definition of TPD is available when TPD is added as a Critical Illness event. 4 MLC pay the full benefit in Critical Illness on some conditions, where others may only pay a partial benefit, eg severe osteoporosis and severe rheumatoid arthritis. Page 12 Upgrade your insurance offer to MLC

17 Extra Benefits Option An Extra Benefits Option is available with Plus and standalone versions and includes: an additional 20 critical conditions for which a partial benefit may be payable, with only eight having a qualifying period; ability to buy back 5 100% of the Critical Illness benefit after a claim: where certain requirements are met, and Critical Illness Buy Back is only available under Critical Illness Extra Benefits Option (refer to the Product Disclosure Statement for definitions). + Advice tip: Critical Illness As MLC Critical Illness insurance provides a lump sum payment, encourage your clients to consider the following when deciding the level of Critical Illness cover over: existing financial debts, loss of income, and medical related expenses. For the following child-related critical conditions: death of a child, 6 congenital abnormalities of a child 6, and inability of a child to gain independence. 6 We don t set a minimum or maximum age in the definition of a child. There s no underwriting and no need to nominate the child. And, unlike most companies, we cover congenital conditions which are a major cause of childhood illnesses. 7 Furthermore, the child can be a natural, adopted or stepchild of the life insured. 1 DEXXX&R and ABS. 2 NATSEM, Health and Income in Australia, Based on statistics for the year ending 31/03/08. 4 Subject to the category of your client s occupation. Please refer to the Product Disclosure Statement (PDS) for definitions. 5 TPD is excluded from Critical Illness Extra Benefits Option. 6 Qualifying periods apply to these conditions. Refer to the current PDS for details. 7 Subject to exclusion of conditions that existed in any child prior to taking out this option. Please refer to the PDS. Upgrade your insurance offer to MLC Page 13

18 Critical Illness Marketing support Useful selling tools We ve created a range of material that helps explain the benefits of MLC Critical Illness insurance partnered with the unique medical advice service offered by Best Doctors. Critical Illness (inc. Best Doctors) Brochure #72648 How to get back on track MLC Critical Illness insurance Now with the exclusive medical advice service by Best Doctors. Looking after yourself Critical Illness insurance for women Now with the exclusive medical advice service by Best Doctors. Critical Illness (inc. Best Doctors) DL Brochure #64339 Critical Illness for women (inc. Best Doctors) Brochure #20497 How to get back on track MLC Critical Illness insurance Now with the exclusive medical advice service by Best Doctors. Looking after yourself MLC Critical Illness insurance for women Now with the exclusive medical advice service by Best Doctors. Critical Illness for women (inc. Best Doctors) DL Brochure #73270 Critical Illness for women (inc. Best Doctors) Concept Card #72784 Critical Illness cost of care Concept Card #72783 Critical Illness Concept Card #72785 True tales Concept Card #73852 Critical Illness insurance for women Who would look after you and your family if you got sick? With MLC Critical Illness MLC However, Insurance for around $2 per insurance you can concentrate day 1 you could cover the on protecting your most premium for Critical Illness precious asset you insurance and rest easy that your family are protected. Critical Illness: What could it cost me? When people Scenario: Bowel Cancer, Frank Scenario: Multiple Sclerosis, Ann have a critical illness diagnosed, few have any idea of what costs may be involved, and what funds they may need during At-Home Support Requirements their illness. At-Home Support Requirements This is intended as a helpful guide. Around half of all Australians aged $326,750 for the 15 months $186,087 per annum over 30 will suffer at least one of the seven health conditions that can You probably know someone lead to long-term who has had a serious or critical cal illness. disability and, consequently, a long-term loss of income. True tales of the unexpected Elizabeth These are genuine case studies reprinted with permission from those who experienced a critical illness first hand and the effect it had on their lives. Mike Critical Illness, it won t happen to me Long-term protection. Tips and traps Page 14 Upgrade your insurance offer to MLC

19 Exclusive to MLC Best Doctors Best Doctors provides a unique, exclusive medical advice service, available at no additional cost 1 to clients with MLC Critical Illness insurance and their family. 2 Imagine for a moment your client s doctor has told them or someone in their immediate family, they re seriously ill. Having MLC Critical Illness insurance can help provide financial security, but we know the initial reaction at this emotional time is to ask a number of key questions. Is the diagnosis correct? What are the best treatment options? What s going to happen to me and my family? So how does your client give themself the comfort of knowing they re getting the best possible medical advice? They speak to Best Doctors. What is Best Doctors? For many years Best Doctors has been helping seriously ill people all over the world gain some comfort about their diagnosis and treatment. Best Doctors currently operates in over 30 countries around the world; including the US, UK and Canada. And it has one specific goal: namely, to connect seriously ill people to a network of peer-nominated, leading specialists from around the globe. These doctors will be able to provide confidence, clarity and certainty to the patient s diagnosis and treatment plan. The end result could save a life. Which illnesses or conditions does Best Doctors review? Best Doctors will arrange advice about critical illness, chronic or degenerative conditions, regardless of whether it s a listed condition under your client s MLC Critical Illness insurance. Please note: consultations regarding acute care (emergency room) cases, pregnancy and mental health conditions aren t available through Best Doctors. Will the Best Doctors service affect an insurance claim? Best Doctors will not share their findings with MLC and your client s use of the service won t affect our assessment of a claim. The Best Doctors InterConsultation report cannot be used to support a claim with MLC; nor will we request a Best Doctors report in connection with a claim. However, your client s treating specialist may, with your client s consent, share information from the Best Doctors InterConsultation report with MLC. Your client s privacy will be protected throughout the process. Of Best Doctors cases 3 in progress: 37% are for people aged under 40, and 20% are for children. 1 When accessing the service, your client may incur personal expenses such as faxing or mailing any completed information and consent forms to Best Doctors. 2 Family means you (as the insured), your spouse and your dependent children. 3 AS at December Upgrade your insurance offer to MLC Page 15

20 First hand experience of Best Doctors Colin s story Colin Boxall UK IFA Colin Boxall Colin is a UK-based IFA with first-hand experience of Best Doctors and a success story to tell all was revealed at the Forum. Colin has 20 years healthcare experience, is widely respected within the industry and has won numerous awards. He was voted the UK s Intermediary of the Year in 2006 (Health Insurance Magazine) and in 2008 by Corporate Adviser Magazine. Colin Boxall knows the benefit of Best Doctors from two perspectives as a financial adviser recommending Critical Illness insurance to clients, and more importantly, as the father of a sick child. When Colin s son suffered a debilitating stroke at age 8, Best Doctors played a crucial role in his treatment and eventual recovery. His advice for advisers selling Critical Illness insurance is to take a step back and look afresh at what the client needs. If you can communicate the wider benefits of Best Doctors that are immediately available it helps to secure the sale and the client s post sale satisfaction. Get to know how these can help. If real-life examples can be illustrated, this will have an impact. You don t have to be eloquent or a good sales person as a good story comes through. Best Doctors in Canada The addition of Best Doctors to our portfolio created a distinct advantage for our company versus the competition. We won every time due to the fact we offered Best Doctors at no additional cost to the client. Chad Larmons, Senior Sales Consultant, RBC Insurance, Ontario, Canada. Best Doctors in Australia Through Best Doctors, Australians now have the opportunity to access a leading specialist to obtain additional medical advice for their own information or to share with their treating doctors and feel more confident in the difficult choices they face with their ongoing care. There s increasing evidence that second-opinion consultations provide benefits to both patients and treating doctors. In particular, patients report they received new information at the second consultation in relation to treatment options and prognosis, resulting in improved satisfaction with the level of communication and confidence in making treatment decisions. Dr John Aloizos AM, MBBS, FRACGP, FAICD Leading Australian General Practitioner John Aloizos For more information on Best Doctors, including FAQs, visit mlc.com.au or the Best Doctors website at where you ll find a tab Advisers e-learning. Alternatively, speak to your MLC representative. Page 16 Upgrade your insurance offer to MLC

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