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If you were unable to work due to sickness or injury, health insurance may cover a proportion of your medical bill, but it won't cover your rent or mortgage and living costs. With MLC Income Protection insurance you get up to 75% of your regular income if you can't work due to disability.
This means you can concentrate on recovering and getting back to work, rather than watching your investments and savings slowly diminish.
In addition your premiums may be tax deductible, depending on your individual circumstances.
| Cover for | Income Protection Plus |
Income Protection Standard |
|---|---|---|
| Loss of income due to Total Disability | Own occupation definition | Two years own occupation definition then any occupation definition |
| Loss of income due to Partial Disability or Rehabilitation | Maximum up to end of benefit period | Maximum equal to six months' benefits |
| Rehabilitation expense benefit* | Yes | Yes |
| Rehabilitation bonus# | Yes | No |
| Disability due to mental disorders or drug abuse/dependency | Yes | Only while under supervision |
* Not available for Life Cover Super.
# Not available for class C.
For more information see Protectionfirst PDS or call us on 132 652.
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