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MLC Total and Permanent Disability

  • 3rd largest life insurer
  • $890m claims paid in 2016

MLC TPD Insurance helps to protect you and your family's lifestyle if you were to become totally and permanently disabled.

Key features of MLC TPD Insurance include:

  • A one-off payment if you suffer a total and permanent disability
  • Life Cover buy back option – ability to restore your Life Cover 12 months after the payment of a TPD benefit (when TPD insurance is purchased as an extension to Life Cover)
  • Partial payment benefit if you lose one hand or one foot or sight in one eye (available outside super only)
  • Option to apply for additional cover when certain events occur without the need to provide further medical evidence
  • If MLC have paid a one-off payment of $100,000 or more, they will reimburse up to $5,000 for the cost of a financial plan from a qualified adviser
  • A death benefit of $5,000 should you die within 14 days of suffering a total and permanent disability (TPD insurance stand-alone only)

You can apply for these options at an additional cost

  • Double TPD insurance (Life Cover buy back with premium waiver): your Life Cover will automatically be restored up to the same amount as the TPD insurance benefit paid, if you live for 14 days after MLC have paid your TPD insurance benefit.
  • Business safeguard option: when certain business events occur, you can apply to increase your TPD insurance if you hold your insurance for a specified business purpose without further medical evidence
  • 14-day Life Cover buy back (extension only): your Life Cover will automatically be restored up to the same amount as the TPD insurance benefit paid, if you live for 14 days after MLC have paid your TPD insurance benefit.

To learn more about the benefits and features of MLC TPD Insurance, read the MLC Insurance PDS or start an insurance comparison online.

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