How to make a claim

Call MLC Life Insurance Claims on 1300 125 246

We keep claiming simple and easy. If something happens to you, just get in touch to discuss if you’re eligible to claim.

8.30am-5.30pm, Mon-Fri AEST/AEDT

What’s covered and what’s excluded in this policy

In the event of: your death or you being diagnosed with a terminal illness.

Payment: We’ll pay a lump sum (up to $1 million) to your NAB home loan account to cover the life benefit or the loan amount, whichever is higher.

Example of how it works:

If you die and the life benefit amount on the policy schedule is $284,000 but the loan amount is only $264,000, we’ll pay a lump sum of $264,000 to your loan account and $20,000 to your estate.

If you are diagnosed with a terminal illness and the life benefit amount on the policy schedule and the loan amount is $400,000, we’ll pay a lump sum of $400,000 to your loan account.

What’s not covered:

  • Pre-existing conditions (see further detail in the ‘Let’s Get You Sorted’ section below)
  • Suicide within 13 months of the policy start date, or the effective date of a loan increase (for the increased portion of the loan)
  • Being under the influence of drugs or alcohol
  • Involvement in criminal activity.

This summary is a guide only. For more information read the NAB Mortgage Protect Product Disclosure Statement (PDS) (PDF, 445KB) and Financial Services Guide. The definitions along with the terms, conditions and limitations, are outlined in the PDS.

Contact us about your existing policy

If you have existing NAB Mortgage Protect insurance and require more information call MLC Limited (MLC) on 13 22 95 8am - 6pm Mon-Fri (AEST/AEDT).

An overview of your premium

How much does it cost?

Your premium is calculated based on your:

  • Life benefit
  • Disability benefit
  • Involuntary unemployment benefit
  • Age (premium rates generally increase as you get older), and
  • Gender

This information is used to calculate your initial premium. A new premium is calculated on each policy anniversary.

If two or more people apply for a loan, the insurance can only cover two of them and one benefit is payable to the loan account at any one time.
If two people are insured, the premium will be the sum of the premium amounts for each person insured.

The minimum annual premium for this insurance policy is $150 regardless of whether one or 2 people are covered.

Your premium will be confirmed in your policy schedule.

How can I pay my premium?

You can choose to pay your premiums annually or monthly by credit card or from your nominated NAB transaction account.

Frequently asked questions

How do I speak to someone for more information?

If you have existing NAB Mortgage Protect insurance and require more information call MLC on 13 22 95 8am - 6pm Mon-Fri (AEST/AEDT).

What is a terminal illness?

Any illness that, even with appropriate medical treatment, in the opinion of the treating specialist, and where required a further medical opinion from a specialist approved by us (MLC), is likely to lead to death within a period that ends no more than 24 months from the date we are notified in writing by the approved doctor.

What is a pre-existing condition?

A ‘pre-existing condition’ means injury, illness, condition or symptom that you:

(a) were aware of, or a reasonable person in your position should have been aware of, and

(b) have, or should have, sought advice or treatment from a registered medical practitioner or other health professional for (in circumstances where a reasonable person in your position would have sought advice or treatment) in the 12 months prior to your policy start date or, for a loan increase, in the 12 months prior to the date of the loan increase.

For example, if you had a shoulder injury within the 12 months prior to the policy start date, you will not be covered under the policy for that shoulder injury or any death, illness or injury related to that shoulder injury.

Accidental injuries that happen after the application date for this insurance or loan increase for the increased portion of the loan are not considered as pre-existing for the purpose of assessing disablement cover.

What is the definition of disablement? What are activities of daily living and severe cognitive impairment?

Different tests for disability will apply depending on your employment status at the time of the event.

If you’re unemployed or not gainfully employed for at least 15 hours per week for six months or more continuously at the date you become injured or sick, then you’ll be assessed disabled if you:

(a) are continuously and totally unable to do any two or more of the following groups of activities of daily living without physical help from someone else:

  • bathing or showering
  • dressing
  • moving from place to place, into and out of bed, and into and out of a chair
  • eating and drinking
  • using the toilet, or

(b) have severe cognitive impairment (with a score of 15 or less out of 30 in a mini mental state examination) which leads to a need for continuous supervision to protect yourself or other people.

What is gainfully employed?

Gainfully employed means being in active employment for remuneration, payment or profit.

When does my policy end?

Your NAB Mortgage Protect policy ends when:

  • you cancel your policy
  • the loan account is closed
  • you don’t pay premiums and the insurance is cancelled
  • you reach your policy anniversary after your 65th birthday
  • a life benefit under the policy is paid
  • you make a fraudulent claim, or
  • you die.

Note: Your insurance will continue while your loan account remains open, even when your loan amount is equal to zero, or your account is in credit unless you tell us that you don’t want to continue with the insurance or your policy otherwise ends. In these circumstances the minimum premium of $150 will be charged annually.

How do I cancel my policy?

You can cancel your policy at any time by calling MLC on 13 22 95.

If you cancel your policy within 30 days of the policy start date MLC will refund any premiums already paid unless you’ve made a claim.

If you cancel at any other time we’ll refund the unused portion of your premium on a pro-rata basis.

Where two people are insured, the request must be received from both people. The policy will be cancelled from the date MLC receives notice.

Who do I contact if I have a complaint?

We're always trying to improve our customers' experience, but we know things don't always go the way they should. Here you can find information about how you can raise an issue with us, how it will be resolved and what to do if you're still not satisfied.

Car insurance

Don’t be caught without car insurance. With NAB Car Insurance cover choices, you can select a level of cover you’re comfortable with that fits within your budget.

Home and contents insurance

Protect your house and the things inside that make it a home.

Important Information

  • MLC Limited (MLCL) ABN 90 000 000 402, AFSL 230694 is the insurer and issuer of this insurance which has been branded and distributed by National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB).
  • This insurance is not a deposit with, a liability of, or guaranteed by NAB. MLC Limited uses the MLC brand under licence. MLC Limited is part of the Nippon Life Insurance Group and not a part of the NAB Group of Companies.
  • Commission of twenty per cent (20%) of your first year’s premium (excluding government charges) is paid to NAB by MLCL. The commission payable is not an additional cost as it is paid from the premium.
  • Any financial advice is general only and has not been prepared having regard to your personal circumstances. You should consider your personal circumstances before acting on any advice. You should consider the NAB Mortgage Protect Product Disclosure Statement (PDF,445KB) and the NAB Financial Services Guide before deciding whether to purchase or continue to hold the product or call 13 29 28 before deciding whether to acquire or continue to hold the product. If you’d like more comprehensive and individually tailored insurance, speak to a NAB Financial Planner on 1300 558 863.
  • Your access to the Best Doctors service is arranged by MLC Limited. For terms and conditions that apply to the service go to

Target Market Determinations for these products are available at