MLC Life Cover Insurance
You can protect your loved ones even when you’re not around when you find the life insurance policy that’s right for your needs.
The life cover offered by MLC helps to protect your family in the event of your death. This life insurance option is a complete package that offers more than just a bereavement benefit, as it includes:
- Terminal Illness: If you are diagnosed with an illness that specialists believe will limit your remaining lifespan to 12 months, MLC will pay you a lump sum.
- Accidental Injury Benefit: If you lose your limbs or sight, you’ll receive up to $2 million, depending on the kind of injury you have.
- Financial Planning Benefit: If the lump sum paid is more than $100,000, you or your loved ones will be reimbursed $5,000 to cover the cost of a financial advisor.
- Increases Without Further Medical Evidence: Until you turn 55, MLC makes it easier to change your cover to correspond with life events such as marriage, children, or a change in your mortgage.
- Economiser: If you’re over 30, you can request for your stepped premiums to be frozen at their current rate. The amount you pay will then stay the same over the years, while the benefit reduces each year.