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- Premium Waiver
Premium Waiver
With MLC Premium Waiver your clients can maintain their policy for a period of time if they're suffering financial hardship through disablement or retrenchment.
What is covered by MLC Premium Waiver?
| Cover For |
|---|
| Offers a waiver for premiums on Total and Permanent Disability, total disability (for Income Protection) and retrenchment. |
| One life insured nominated per policy, covering all benefits on all lives insured. |
More information on MLC Premium Waiver:
| Personal Protection Portfolio - Premium Waiver |
Life Cover Super - Premium Waiver |
|---|---|
| Maximum Entry Age 55 next birthday |
Maximum Entry Age 55 next birthday |
| Expiry Age Policy anniversary date after age 65 |
Expiry Age Policy anniversary date after age 65 |
| Waiting Period Total and Permanent Disability or Income Protection total disability - 6 months Retrenchment - not applicable |
Waiting Period Total and Permanent Disability - Duration of disability not beyond the earlier of the maximum benefit period (for total disability) or age 65 Retrenchment - 12 months |
| Benefit Period Total and Permanent Disability or Income Protection total disability - 6 months Retrenchment - Not Applicable |
Benefit Period Total and Permanent Disability - up to age 65 Retrenchment - 12months |
* not available for Class C lives - hazardous occupations eg security guards
To find out more about MLC's Premium Waiver, get in touch with your MLC Representative or call MLC on 133 652.
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