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How do I get insurance
in super with MLC?

Getting insurance in super with us

There are multiple ways you can get insurance with us—automatically, or by applying for cover.

Automatic insurance

If you’re a member with us, you could be eligible for automatic insurance.

It’s important to know that when you have insurance cover with us—you can make changes to your cover at any time.

Am I eligible?

To find out if you’re eligible for insurance cover, review the products listed below to see what we offer and the insurance that’s available.


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MLC MasterKey Business Super

If you’re an MLC MasterKey Business Super member, we’ll automatically provide you with insurance cover (subject to eligibility requirements).

Find out which insurance types have automatic cover

  • What is it? Pays a lump sum if you’re medically certified as likely to die within 24 months.
    Is automatic insurance included? Yes—Lifestage and Employer selected
    Cover can start from age 15 to 69
    Cover ends at age

    Lifestage cover: 70

    Employer selected: 65 or 70

    Are pre-existing medical conditions covered? (Provided that you’re At Work) Yes
    Is cover limited if employer contributions are not received? Yes
    Does work status at date of injury or illness affect cover? No
    Is cover provided if a claim has previously been paid under the same type of cover? No
    Is there a waiting period before a claim can be made? No
  • What is it? If you die, pays a lump sum to your dependants, estate or legal representatives.
    Is automatic insurance included?

    Yes—Lifestage and Employer selected

    Cover can start from age 15 to 69
    Cover ends at age

    Lifestage cover: 70

    Employer selected: 65 or 70

    Are pre-existing medical conditions covered? (Provided that you’re At Work) Yes
    Is cover limited if employer contributions are not received? Yes
    Does work status at date of injury or illness affect cover? No
    Is cover provided if a claim has previously been paid under the same type of cover? N/A
    Is there a waiting period before a claim can be made? No
  • What is it? Pays a lump sum if you’re unable to work ever again due to illness or injury.
    Is automatic insurance included?

    Yes—Lifestage and Employer selected

    Cover can start from age 15 to 69
    Cover ends at age

    Lifestage cover: 65

    Employer selected: 65 or 70

    Are pre-existing medical conditions covered? (Provided that you’re At Work) Yes
    Is cover limited if employer contributions are not received? Yes
    Does work status at date of injury or illness affect cover? Yes—your claim will be assessed differently depending on whether you’ve been working or not
    Is cover provided if a claim has previously been paid under the same type of cover? No
    Is there a waiting period before a claim can be made?

    Yes—six months

  • What is it? Provides a replacement income, if you’re unable to work.
    Is automatic insurance included?

    Yes—Lifestage and Employer selected

    Cover can start from age 15 to 69
    Cover ends at age

    Lifestage cover: 65

    Employer selected: Up to 65

    Are pre-existing medical conditions covered? (Provided that you’re At Work) Yes
    Is cover limited if employer contributions are not received? Yes
    Does work status at date of injury or illness affect cover?

    Yes—you must be working to claim IP benefits

    Is cover provided if a claim has previously been paid under the same type of cover? Yes
    Is there a waiting period before a claim can be made? Yes

When does my insurance cover start?

If you’re over 25 years old and your account balance is more than $6,000, your insurance cover may come into effect without you having to do anything.

If you’re under 25 or have an account balance of less than $6,000, you’ll need to let us know that you want to have insurance (unless your employer pays for the cost of your insurance).

Making sure you’re eligible

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You must be a member of MLC MasterKey Business Super.

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To receive automatic insurance cover, you must be an Australian Resident.

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You must be aged between the relevant ages (as specified in the Insurance Guide).

You won’t be eligible for Income Protection benefits if you’re not employed, work less than 15 hours a week, employed in casual employment or employed in seasonal or contract employment.

We can’t provide you with insurance cover if your super account has been inactive for 16 months—unless you let us know in writing.

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    It’s important to check your occupation rating in your Welcome Kit and Annual Statement. Find out more about occupation ratings.

Applying for Voluntary cover

If you’d like to apply for Voluntary MLC MasterKey Business Super cover, you’ll need to complete an Insurance application form.

The Insurance application form will ask you questions such as your age, job, medical history, family history and lifestyle. As part of your application, you’ll need to let us know if you take part in any high-risk sports or hobbies. It’s important that you disclose any information that could impact the decision to insure you.

Automatic cover

Your employer may have selected tailored insurance cover for your plan. This can include Death, Total and Permanent (TPD) insurance and Income Protection insurance.

If your employer has selected tailored insurance cover for your plan, this will be detailed in Your Welcome Kit or Insurance Summary.

To be eligible for automatic insurance cover, you’ll need to meet the criteria for Putting Members’ Interest First (PMIF) or choose to have insurance with us.

Changing your cover

If you have a life event, you may be eligible to apply to increase your insurance without medical information. To find out more about this refer to the Apply to increase your insurance without medical evidence section below.
 

Go to Useful forms for Insurance forms


MLC MasterKey Personal Super

Once your employer has told us that you’re no longer their employee and you’re an MLC MasterKey Business Super member—you’ll be transferred to MLC MasterKey Personal Super.

If you have Total and Permanent Disablement and Death insurance cover and you’re under age 65, you can generally keep your insurance cover in your new MLC MasterKey Personal Super account.

If you had Income Protection insurance in your employer plan, it will be cancelled but if you’d like to keep it, you’ll need to reinstate it—find out more.

Alternatively, to continue your insurance with an individual insurance policy, you can complete the Continuation option form. If you wish to do this, you’ll need to complete and submit this form within 60 days from the date we receive notification from your employer that you’ve left employment.

Making sure you’re eligible

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You must have been a member of MLC MasterKey Business Super.

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You must be aged between the relevant ages (as specified in the Insurance Guide).

You won’t be eligible for Income Protection benefits if you’re not employed, work less than 15 hours a week, employed in casual employment or employed in seasonal or contract employment.

If you join MLC MasterKey Personal Super after 13 August 2021, your Income Protection insurance will be cancelled and if you’d like to keep it you’ll need to reinstate it.

We can’t provide you with insurance cover if your super account has been inactive for 16 months—unless you let us know in writing.

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It’s important to check your occupation rating in your Insurance SummaryWelcome Kit and Annual Statement. Find out more about occupation ratings.

Applying for Voluntary cover

If you don’t have insurance when your account is transferred to MLC MasterKey Personal Super, you can apply for voluntary cover by logging in to your account online, or by completing the Insurance application form.

The Insurance application form will ask you questions such as your age, job, medical history, family history and lifestyle. As part of your application, you’ll need to let us know if you take part in any high-risk sports or hobbies. It’s important that you disclose any information that could impact the decision to insure you.

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Changing your cover

If you have a life event, you may be eligible to apply to increase your insurance without medical information. To find out more about this refer to the Apply to increase your insurance without medical evidence section below.


 

Find out more about what happens to your insurance when you leave your employer.


MLC MasterKey Super Fundamentals

MLC MasterKey Super Fundamentals comes with our default option called MLC Lifestage insurance, so you can enjoy quality insurance benefits.

What’s MLC Lifestage insurance?

Having MLC Lifestage insurance means that you can have a combination of Death and Total and Permanent Disablement (TPD) insurance that’s designed to protect you and your loved ones through your different life stages.

You may need more insurance when you’re younger, when you’re most likely to have a high mortgage or children at home, and lower insurance when you’re older and most likely to be financially secure.

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Making sure you’re eligible

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You must be an Australian Resident on the day your account starts, and have money in your account within 130 days.

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For Death insurance (including Terminal Illness), you must be between ages 15 and 69 and for TPD insurance you must be between ages 15 and 64.

If you’re employed in an occupation that the Insurer classifies as ‘uninsurable’, you won’t be eligible for insurance. The Insurer classifies some jobs as ‘uninsurable’ because the Insurer is unable to accept the risk. To find out if this applies to you, see the Occupations rating guide for insurance.

To find out more about the insurance options available in your MLC MasterKey Super Fundamentals, see the Insurance Guide or contact your financial adviser.

Applying for cover

Looking to join MLC MasterKey Super Fundamentals?

When you join MLC MasterKey Super Fundamentals, you’re able to select from three levels of MLC Lifestage insurance cover (Standard, Half the standard and Double the standard), subject to the eligibility requirements. It’s important to know that some exclusions may apply. For more information, refer to the Insurance Guide.



 

Don't have insurance?

If you’re a member of MLC MasterKey Super Fundamentals but don’t have insurance, you can apply for MLC Lifestage Insurance or any dollar amount by completing the Insurance application form.

The Insurance application form will ask you questions such as your age, job, medical history, family history and lifestyle. As part of your application you’ll need to let us know if you take part in any high-risk sports or hobbies. It’s important that you disclose any information that could impact the decision to insure you.

Changing your cover

If you have a life event, you may be eligible to apply to increase your insurance without medical information. To find out more about this refer to the Apply to increase your insurance without medical evidence section below.


 

Don’t have an account with us?

Create a new account with us in as little as five minutes. MLC super supports you through every stage of your working life.


MLC Wrap super solutions

Contact your financial adviser if you’d like to apply for or make changes to your insurance cover. Your financial adviser can help you with all your insurance cover needs.

Find out more about our Wrap products.

Apply to increase your insurance without medical evidence

Life can dramatically change when you get married, buy your first home, or have a child. These events might mean that your insurance needs may change too.

We know how important it is to make sure you and your family are protected. That’s why when big things like these happen, we make it easy for you to increase your Death and Total Permanent Disability (TPD) insurance.

From ages 15 to 64 you can apply to increase your Death and TPD insurance without further medical evidence, when you:

  • adopt or have a child
  • become a carer for the first time
  • suffer the death of a spouse
  • get married or divorced
  • complete your first undergraduate degree at an Australian Government-recognised institution
  • have a child who starts secondary school for the first time, or
  • take out a mortgage for your first ever purchase of a principal place of residence or an increased loan to renovate your principal place of residence.
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If you’d like to increase your insurance cover because any of these life events have happened to you within 90 days, complete the Apply to increase your insurance without medical evidence form.

Considerations

Cost of premiums

Before taking out insurance, you should consider the cost of premiums and impact to your retirement savings.

Get the cover that’s right for you

Use our insurance calculator to find out the cover that’s right for your lifestyle.

Consolidate your insurance

It’s easy – just complete a Consolidate your insurance form and send it back to us today.