With MLC Life Cover Super you can protect your wealth when you need it most and in a tax-effective way.
Like MLC Personal Protection Portfolio, you can combine different insurance types into one consolidated package, with a single policy fee and policy schedule for the following insurances:
| Type of insurance available | What is it? |
|---|---|
| Life Cover | Pays a lump sum benefit on death or terminal illness or accidental injury. |
| Total and Permanent Disability | Pays a lump sum benefit if you're totally and permanently disabled due to illness or injury. |
| Income Protection | Pays a monthly benefit if you suffer loss of income due to total/partial disability or rehabilitation. |
| Business Expenses | Reimburses certain business expenses when you are unable to work due to total disability. |
| Premium Wavier | Waives your premiums under specified conditions (ie retrenchment or while you are totally and permanently disabled). |
MLC Life Cover Super is closed and no longer available for sale. However if you have an existing policy you can continue to increase or decrease cover, add new benefits and make alterations such as changes to the premium type, benefit and waiting periods.
We'll also continue to look for ways to improve the features and benefits of your MLC Life Cover Super policy. So where it won't affect your premiums we'll add improvements to your insurance and let you know before this occurs. You should speak to your adviser before making any changes to your policy.