MLC Life Insurance welcomes the Albanese Government’s commitment to implement 14 of the 22 recommendations made by the Quality of Advice Review but calls for more Australians to be given access to the advice they need.

“We’re pleased to see the Albanese Government making advice more accessible to Australians, with the intention to allow members of superannuation funds to access advice on an affordable basis through their fund,” says Kent Griffin, Chief Executive Officer of MLC Life Insurance, “but more can be done to look after those that need access to affordable advice.”

“Financial institutions are well-positioned to give advice in the best financial interest of customers, helping both new and existing customers to ensure their cover is and remains affordable and appropriate to their needs.”

“We’re looking forward to working with the government and trustees to make sure Australians have access to simple advice about life insurance products and a critical safety net to protect them in the face of unforeseen events.”