MLC Life Insurance will provide default cover for superannuation fund Vision Super’s 100,000 members from January, after wining a tender.

“We have been steadily increasing our presence against the more established group insurers in the market, and [this contract] shows we are making real progress,” Chief Customer Officer of Group Insurance Suzanne Smith said.

“Our goal is to become Australia’s leading and most trusted life insurer, and we want to play a bigger role in the group insurance market.”

MLC will offer the same level of cover and premiums for the next three years.

“We wanted great-value insurance premiums for our members, and we got that,” Vision Super CEO Stephen Rowe said.

“We have kept our premiums steady over the past three years, and we now have guaranteed rates locked in for the next three that mean no premium increases for the vast bulk of our members.”