MLC Life Cover Insurance

MLC’s life cover insurance product includes a variety of features such as a financial planning benefit and a terminal illness feature, as well as an economiser option.

The life cover insurance product offered by MLC helps to protect the insured’s family in the event of their death. This life insurance option also offers a number of different features, including:

• Terminal Illness – A life cover lump sum benefit is paid to the policy holder in the event that they are diagnosed with a terminal illness.
• Accidental Injury Benefit – MLC’s life cover insurance will pay up to a maximum of $2 million if the insured loses the use of one of their limbs or their sight, depending on the nature and severity of the injury.
• Financial Planning Benefit – MLC will reimburse the insured on the life cover policy or their beneficiary up to $5,000 for the preparation of a written financial plan when the policy has paid them a lump sum benefit of over $100,000.
• Increases Without Further Medical Evidence – The insured on MLC’s life cover plan may increase their coverage following certain qualifying events without the need to provide further medical evidence.

Overall, the MLC life cover product is a complete life insurance plan that protects the insured’s family and their financial future should the insured pass away or become terminally ill.