MLC Life Cover
Though we tend to think of death as something that happens in our old age, the sad fact remains that sudden death can affect anyone, whether through illness or accident. It makes sense then to ensure that the financial future of your family or business is not left up to chance. MLC Life Cover is an ideal foundation on which to build protection for your family's quality of life or the future of your business. We offer a choice of life cover insurance plans to best suit your needs and budget.
If you take out a MLC Life Cover policy, we will provide a lump sum payment to your nominated beneficiaries in the event of your death. Also, included in this policy is a lump sum payment if you are diagnosed with a Terminal Illness as defined in the policy.
Advance Death Benefit is available where $20,000 of the Life Cover benefit is payable upon death of the Life Insured to the Policy Owner or Beneficiaries upon receipt of a certified copy of the Birth Certificate and an extract of death registration.
A Financial Planning Benefit is also available when MLC pays a lump sum benefit of at least $100,000 to a beneficiary under MLC Personal Protection Portfolio. MLC will cover the reasonable cost, up to $2,000 per life insured, for a fully documented financial plan prepared by a qualified Financial Adviser for the beneficiary. Where there is more than one beneficiary of the lump sum benefit, the right to the Financial Planning Benefit will be divided equally between those beneficiaries who each receive a benefit of at least $100,000. This benefit also applies to Terminal Illness Support.
The following options are also available for all policies at additional costs:
Total and Permanent Disability and Loss of Independence
Critical Illness*
Terminal Illness Support
* Not available under MLC Life Cover Super (LCS)
Want to know more?
Contact your Financial Adviser or click here to contact us.
