At MLC Life Insurance, we value our partnerships and are committed to working with and supporting your advisers.
We are continuously focused on improving our business efficiency, and processes. Our aim is to ensure your advisers can deliver the best possible experience for their clients.
Design and Distribution Obligations for complaints and significant dealings
About the changes
From 5 October 2021, product issuers and distributors across many financial product categories – including life insurance – are subject to a new Design and Distribution Obligations (DDO) regime.
The DDO regime ensures financial products are designed for and distributed to the right people. It imposes new and significant obligations on both product issuers and distributors.
As part of this change, we have developed several Target Market Determinations (TMDs) that define and describe the intended target market for our products. For further information and to view the full list of TMDs, please visit our Target Market Determination page.
To make sure we continue to meet our obligations under the regime, licensees may report on complaints or notify us of any significant dealings inconsistent with the TMD. This can be done via webform query – please see table below for links to these forms.
|Notify the issuer of any complaints received during a calendar quarter relating to product design
||Complaint Report Webform|
|Notify the issuer of any significant dealings inconsistent with the TMD
||Significant Dealing Report Webform
MLC Life Insurance Commission Payments
Licensee support team contact details
To help us support you and your advisers, please contact the appropriate team using the relevant email addresses and contact numbers below.
- Commission enquiries
- Licensee general enquires
New licensee setup
If operating under a general or hybrid structure, additional obligations will apply under the Design and Distribution Obligations (DDO), effective 5th October 2021. In addition to completing the above, you will also be required to confirm your reasonable steps approach through the Reasonable Steps questionnaire.
As part of our Due Diligence process, a member of our Retail Distribution Governance Team will be in touch to discuss the details of the application.
New Adviser Code setup
Advisers without an existing SB Adviser Code must register online.
To help with the processing of the online registration form, please ensure the following:
- The Authorised Representative Certificate is uploaded with the form
- The mobile phone number of advisers is provided to ensure they can access the MLC Life Insurance Adviser Portal
Please note: It is MLC Life Insurance's policy that advisers are authorised in both life insurance products and superannuation to receive an Adviser code. Codes will not be provided if advisers are not authorised in both areas.
If the adviser has restrictions relating to SMSF, please confirm whether the licensee authorises them to provide insurance advice through SMSF.
Adviser and client transfer requests
What to include in the transfer email request if an adviser is changing licensee:
- Adviser and licensee contact details
- Adviser/practice code (SB Number)
- Release Letter
- Appointment Certificate
- Attach a document listing the licensee authorised signatories
- When advisers transfer between licensees and all clients are transferred, depending on the circumstances, their Adviser Code (SB number) remains the same. If a new code is required, please include in the email request as well and this can be done together with the transfer
- If a book of business is being transferred to a new adviser, please advise if the original adviser has ceased and the code should be closed upon successful transfer.
- If the licensee wishes to remove servicing adviser from a group of clients, a letter from the licensee is required requesting removal of the adviser from all policies and to cease any remuneration going forward. Please note, if we are not advised of the new servicing adviser, policies will be classed as orphaned.
Please note: it is MLC Life Insurance's policy to check the authorisation of advisers when policies/ clients/ books of business are requesting to be transferred. We are unable to process requests if advisers are not suitably authorised.
- Policy Information and general enquiries
MLC Life Insurance Adviser Portal support
MLC Life Insurance Contact Centre
Data feeds can be established in the MLC Life Insurance Adviser Portal. For support, contact the MLC Life Insurance Contact Centre on 13 65 22.
Quote for insurance
Manual quotes and quote support
- Claims enquiries
MLC Life Insurance Contact Centre
- 13 65 25
- PO Box 23501 Docklands VIC 3008