Critical Illness insurance
Trauma Insurance from MLC
Around half of all Australians aged over 30 will suffer at least one of the seven health conditions that can lead to long-term disability and, consequently, a long-term loss of income.
Source: NATSEM, Health and Income in Australia, 2003.
How would your client's family or loved ones cope if they suffered a stroke or were diagnosed with cancer?
Not only might they lose their income through not being able to work, but they might also have to tap into their savings, sell their home or face major costs for medical treatment and rehabilitation. Not a pretty picture.
How best to protect yourself and your family
Critical Illness insurance can help remove many of your financial worries and concentrate on getting better if you became critically ill.
We offer a choice of Standard and Plus cover to cater to your needs and budget:
- Standard cover - provides benefits for the most common critical conditions with fewer additional options, at a lower cost to suit your budget.
- Plus cover - provides benefits for an extensive range of critical conditions and additional options that suit your needs.
A Critical Illness insurance policy also provides you with access to the specialist medical information service by Best Doctors.
What are the features of Critical Illness insurance?
| Child support benefit* | When you hold Critical Illness insurance of $100,000 or more, we’ll pay a lump sum of $10,000 if your child first has a child support benefit condition or dies. |
| Increases without further medical evidence* | You can apply to increase your Critical Illness insurance without further medical evidence when certain personal and business events happen. |
| Financial planning benefit | We'll reimburse up to $5,000 for the preparation of a written financial plan by a qualified financial adviser when we've paid you a lump sum benefit of $100,000 or more. |
| Economiser | You client can request that we freeze your Critical Illness insurance stepped premium if your aged 30 or over. The amount you pay then stays the same while your benefit will reduce each year. |
| Death benefit# | If the Critical Illness stand-alone benefit isn't payable because your death occurs within 14 days of suffering a critical condition, we'll pay a benefit of $5,000. |
* Not available for Critical Illness Standard insurance
# Only available for Critical Illness stand-alone cover
You can also apply for Child Critical Illness insurance. Please see MLC Insurance PDS (PDF, 4.5MB)
To find out more about Critical Illness insurance see MLC Insurance PDS (PDF, 4.5MB) or the specialist medical information service by Best Doctors. Alternatively, get in touch with your financial adviser or call us on 132 652.