MLC

MLC take advantage of the disabled with their total disability scheme. In order for them to pay out any owed total disability scheme super payments to someone who has a total disability they require that that totally disabled person submit a current drivers license and passport. If they cannot provide them with these documents MLC expect the… Read more

person suffering the total disability to submit photocopies of their, proof of age card, medicare card and birth certificate which all need to be signed off by an authorized representative. So the person who is so disable they are unable to drive a car or leave the country is expected to be able to buy or own a printer, understand how to scan the required documents and then print them, then travel to the police station or chemist and have them approval all documents then travel to the post office, purchase their own postage and send it to MLC offices. No they cannot accept any of these document via email because how are they supposed to prove they came from the disabled person even though all the communication sent to the disabled person are via email and they use confirmation of email address for their phone security approvals. Because MLC won't accept any proof via email the disabled person is expected to send all their very private information via snail mail. Only for them to reject the application via AI because they have made a clerical error on their end and recorded the birth date incorrectly, and despite all the evidence the disabled person has just submitted to prove their identity, it doesn't match what some random employer uploaded more than 25 years ago, so their application is denied. If you are fortunate enough to have a legal career who can support your through the process, well good luck getting them accepted by MLC as they auto reject any newly submitted paperwork for the same birth date issue. How is this legal? How can they say someone birthday is not their birthday when every legal and legally authorized document displays the correct date. They have withheld a payment for 10 years because of this very problem, they refuse to talk to the legal carer because they can only talk to the account holder. Like how is this supposed to work with alzihmers sufferers or people who have total intellectual disabilities or physical disabilities. And if these people die while not not being able to withdraw their super guess who gets to keep the money MLC. Disgusting disgusting disgusting

I was a loyal customer of MLC for over 40 yrs with life insurance & superanuation. once turning 60 years of age I was informed of my cover would finish at the age of 70 years of age. From paying premiums throughout my life with no claims at all this was not a comfortable notice espeially with the premiums increasing year by year till the premium… Read more

was in excess of $1000 per month.

I reduced my pay out by half which reduced premium to around $700 per month. this increased year by year to meet the $1000 per month I was paying previously. I believe the increase was to force me out of the coverage before they had to pay out. Considering the pay out would finish at the age of 70 years old I had to cancell the policy as I could not afford the premiums any more.

obviously they were happy with the as the policy was cancelled within 48 hours. I would love just 1/2 the money I have paid them over the years.

My advice is put your premium amount into a long tern investment as you would have more than you ever expected.

A family member was murdered on December 14. I have been trying to get help regarding filling out the relevant forms. I received emails of a contact person. When I called MLC, nobody knew who this person is. When filling out the forms, information on the forms miraculously gets saved in the incorrect fields. How this company operates is beyond me. Fortunately I have nothing to do with this company and recommend others to avoid MLC as well.

Do not use this company, they try to hold on to your super as long as possible and refuse to give it back to you even though you’re at retirement age. They make you jump through hoops and still don’t give it to you.

What the issue I have with this company is they input the Un legal name in their system without any checking. and now I found that mistake, I contact the team with feedback that I need prove the fake name in system is mine in front of JP!!! And I… Read more

asked the customer service team why it is JP and i need to approve that fake name is mine? and why didn't MLC check all the documents at step one? the answer I got from MLC is that is company policy! Such st^pid company!

Worsr customer service ever,10 months of lies and mistreating a long term customer. Never took responsibilities for theire actions Thry keep saying vulnerable customer but what does that mean. Useless company that doesbt care about its customers. Worst company ever STAY AWAY They cant communicate,dont respond to calls or emalls. MLC ARE LIARS, ONLY CARE ABOUT CORPORATE GREED WORST COMPANY TO DEAL WITH COMPLAINTS

If I could give zero I would. They keep sending me the previous owners letters. I dont have a forwarding address so I have done the right thing, returned the letters to MLC, phoned them, emailed numerous times for the last five years. Despite assurances they will not continue, they continue to send the letters regularly. They dont care. They obviously dont look after their members.

This Company MLC should be shut down. Asked for an emergency withdrawal was promised it overnight. Phoned the following day asked where the funds were? Hadn't been even processed the so called team leader had not even looked at it.My money ,my funds, they couldn't care less.Funny how I couldn't speak to a supervisor on Thursday when the following… Read more

day was Anzac Day all pulled stumps for a long weekend..Sloppy , lousy firm with no Customer service. I will be cancelling my account for sure. The ombudsman needs to look into this shonky Company. ASAP.

Shame on this company – A very selfish company that only thinks about profits that goes straight into the pigs trough and bugger the customers,.Very disgraceful and pathetic.

Worst super company – Absolutely disgusting employer chose this company when I left and went to transfer to my original super the whole lot was gone and account closed. Outright robbery wouldn't recommend at all and don't even deserve a start at all.

Should be in jail – This company would not cancel my dead wifes income insurance, even after I provided my identity and her death certificate certified multiple times. They kept charging her account and never refunded anything back. I ended up closing the bank acct instead. They should be in jail!

Customer service don't understand superannuation basics – Contacted MLC about a super lump sum withdrawal from a Super Fundamentals accumulation account. It appears that they have delegated their customer service to some other group company (listed by my phone as being Garvan Financial Planning) ... Spoke to someone who put me on hold twice whilst they apparently sought advice on my request and they… Read more

asked questions about whether I met conditions of release despite the fact I hold a pension account and received a payment a week ago.

Clearly this was someone who knows almost nothing about superannuation, didn't understand my request, didn't know the superannuation rules, and wasted 15 minutes of my time before trying to hand me off to a different section. I aborted the process having found an online request option hidden in a quite obscure place in their portal and submitted my request in under 2 minutes without problem.

Embarrassingly poor customer service and staff training - no doubt because Insignia took over the administration. Their management should expect headlines about major errors in handling customer accounts if my experience is in any way indicative of the organisation.

TLDR: Avoid the company, but if you have to deal with them, submit your requests online or on paper because it will be quicker and less frustrating!

DO NOT USE MLC – I took out an MLC TPD policy on the advise of my financial advisor (I have since also found he was also charlatan) which I held for over 10 years. During the course of holding the policy, I did increase the sum insured due to financial reasons. I will also state that I held a compulsory work related TPD policy with TAL. In October 2023 I made a… Read more

claim with both insurance companies. TAL finalised my claim and paid out in full within 3 months of lodging my claim. MLC took over 14 months to make their determination which was that they would pay out my initial cover amount I took out over 10 years prior but declined the increased amounts quoting non-disclosures for their justification. The non-disclosures they refer to however had absolutely nothing to do with the reasons for my claim. They stated that if I had disclosed the issues, they would never of insured me and as such would treat it as though the increases didn't exist. They were very strategic in this decision as it negates the defense of trying to say I did not meet the TPD definition (which is easy for my solicitor to negate) and instead makes the issue a case of contractual issue (which is much harder for my solicitor to fight).

Long story - DO NOT go with MLC. I would strongly suggest going with a company that uses TAL as their underwriter!!!!!

MLC deposited my super rollover into a random SMSF by mistake yet I have to wait for rando's to return it – Did you know that when you request to rollover your super into your SMSF that if MLC erroneously transfers your money into some other random SMSF fund that you have to WAIT until that other person gives the money back? Thats whats happened to us - 2 months and waiting...I lodged a formal compiant with AFCA...still waiting...what if the recipient… Read more

spent the windfall....MLC dont appear to have a Plan B....nothing they can do until that person returns it they tell me. Cannot believe they can't do the right thing; give us our money and sort out their mistake in the background.

This company keeps making mistakes – Not sure if I can trust this organisation, every other month they keep sending 'Sorry we made a mistake' the latest was way back in 2022. I wonder what other mistakes they are making.

Untrustworthy organisation – Undoubtably the worst experience I've ever had. I chose to keep my insurance outside my super and pay the annual insurance premiums via rollover. This year around the time that rollover was due when I randomly checked my account to see whether everything was done OK or not, I found my account closed and all my balance rolled over!!! First thought… Read more

I might have become a victim of scam, and someone might have stolen my money. When followed up the next day, I was told an “Administrative Error” caused my entire super balance being rolled over instead of $5.5K which was due!!! It took them a week and me multiple phone calls to reverse their “Administrative Error”. Couple of weeks later, I decided to create my own Self-Managed Super Fund (SMSF) and rollover my balance. First, there was an issue from my side that caused verifications not to go through and when I resolved the issue, they started to play games. First, I received an email stating that they couldn’t complete the request because verification had failed. Couple of minutes later, another email saying ignore the previous email, the verification was OK. Five minutes later the third email saying they couldn’t complete the request and need ID Verification which could be done either through their website or by sending verified documents via Post! I know I had done the verification in the past but logged in to my account to do it again anyway. Their website said you can’t do the verification as it has already been done!!!! Next step picked up the phone and rang them. Excuse after excuse that the verification was more than 12 months old and they needed a fresh one but were not able to tell my 1 . Why it wasn’t mentioned anywhere, 2. Why their website is refusing to do it again if the previous one is no longer valid/good!!!! They did the verification over the phone and promised to process the request ASAP, but honestly cannot trust them anymore. I feel they do whatever they can to make the rollover process as difficult as possible. The interesting point is that due to their so-called “Administrative Error” they were happy to close my account and give away all my balance without even notifying me but when I request rollover to my own SMSF they can’t do it as they need to verify my identification FRESH again!!! Long story short, I DO NOT TRUST THEM AND WOULD NOT RECOMMEND THEM AT ALL!!!

Should have gone elsewhere – Been with MLC for 21 yrs , tried to have my x removed so she couldn’t get my super and someone in MLC knocked back my request. I’ll try one more time if that fails again I’ll go elsewhere. poor

Ghosted – Ghosted Numerous emails got on the chat line rehearsed conversation always the same thing. Simply are not there for the people that are keeping them in a job !

TPD-Any reason not to pay out – I had a work accident in Feb 2021- Can no longer go back to my normal type of employment, lodge a TPD claim now 3 years later still no resolve. Takes months to reply to emails, and always pass the buck-blaming lawyers/doctors for delay in paperwork not being received or never got it. Permanent Injury confirmed by 2 doctors, orthopaedic… Read more

surgeon, occupational therapist, physiotherapist and a seperate medical review by centrelink.

When i spoke to a MLC employee in the TPD dept she told me "Dont hold your breath" we are told to drag claims out so you give up, needless to say the only honest employee at MLC.

Poor customer service – Very very very very poor customer service. Not responding to customer whatsover. I have been with them for 9 years and will now leave and never recommend them to anyone at all.

Do not choose MLC – MLC is doing everything they can to make the rollover process really difficult. Do not choose this super!! What they are doing to me should be ilegal …

Waste of Time – When I started it was the only insurance company. I had life insurance for about 30 years. It got to the stage where the cost of living rose too high and being on a pension I couldn't afford it anymore. I had to cancel. I must have paid over $30,000 in that time. It turned out a waste of time. You'd think that with all the profits this corporation… Read more

made out of all those insured, I could get at least half the money back but no, I didn't get a cent back. I'm now with another far cheaper insurance company. Avoid this company at all costs. From an unhappy previous customer.

Investments in companies complicit in illegal Israeli settlements on Palestinian land – I requested for assurance that my super does not have investments in companies complicit in illegal Israeli settlements on Palestinian land. Such settlements are against international law. With the radio silence one can only assume that the company does infact invest in these companies. I am searching for a more transparent super fund that respects international law and Palestinian lives.

Bad insurance company – Made mistakes in their assessment which resulted in a delay of 3-4 months and refused to recognise their error. Even sent letter with incorrect password which clearly showed their lack of care in dealing with client matters. If it wasn't the fact that my employer used them, I would never want to deal with these incompetent people. Please stay away.

Don't bother with MLC – Not a Superannuation review. I had an investment that was under the masterkey brand. I was with MLC since the 1990's. I had never had a problem until lately. It took 1 1/2 years to get an annual statement for a previous year and although my account is now closed down I still have not received the last statement well over a year. After 1 bad… Read more

experience with trying to withdraw money, then poor performance and losing money instead of any interest gain, I tried to close my account. Well that was too hard of work for them. It took months. Escalated the grievance with them and got results, finally. I was ringing nearly everyday to find out when I was getting my money. They gave me compensation as it went longer than expected, but it was hardly worth it. I'm just glad I got my money and I'm done with the company. Would not recommend them at all since they have been taken over.

Stay away from mlc – Takes ages for your call to be answered and will not let you access your super if you don't meet the requirements even though you are financially struggling. Who are they or the ato to say what we can do with the money that we have worked for. This is bull crap. Australians need to stand up against this government and implement a new system.

Life ins cancellation experience was a mare – After a insanely steep increase in premium I opted to cancel. They did their best to scare me in not doing so due to possible underwriting exclusions elsewhere. As soon as I got new papers and saw there were none I cancelled. This was a day after my premium with them went through. However they would not provide a rebate of any kind quoting some obscure clause in their PDS. Friggin shysters! Good riddance. Avoid.

Absolutely worst super fund – Totally incompetent idiot’s totally unhelpful and speak over you. Don’t accept e signature and continuously lead you around with no end result Do not give them your money