MLC Life Cover Super MLC Personal Protection Portfolio

Information common toLife Cover, Total andPermanent Disability (TPD)and Critical IllnessFinancial Planning Benefit(for PPP only)When MLC pays a lump sum benefit of at least $100,000,you or your beneficiary can claim up to $2,000, for afully documented financial plan prepared by a qualifiedfinancial adviser.If there is more than one beneficiary of the lumpsum benefit, the Financial Planning Benefit will bedivided equally between those who each receive atleast $100,000.The reimbursement must be claimed:• within six months of the date when we pay the lumpsum benefit• only once for all MLC policies covering you.MLC reserves the right to increase the minimum lumpsum benefit amount of $100,000. MLC will let you knowwhen this happens.Continuation Option(for level premium after age 65 only)Level premium Life Cover, TPD and Loss ofIndependence, and Critical Illness insurances end whenyou turn 65. If the policy is claim free, the ContinuationOption lets you continue with the nearest equivalentMLC insurance available at the time, up to the sameinsurance amount, on a stepped premium. Newterms and conditions may apply. For TPD and Lossof Independence, continued cover is for loss ofindependence only.You must apply for continuation within 30 days of thetermination date of your existing insurance.For TPD and Loss of Independence and for Critical Illnessyou must exercise your Life Cover Continuation Option atthe same time.Life Cover Buy BackThis option is available if you choose TPD or Critical Illnessas part of your Life Cover insurance or as a ConnectedBenefit until the review date after you turn 75.If you purchase the Life Cover Buy Back option for TPD orCritical Illness insurance, MLC will restore your Life Coverinsurance up to the original insurance amount if you:• survive 14 days after MLC pays your full TPD or Loss ofIndependence benefit• survive 14 days after MLC pays your full Critical Illnessbenefit due to TPD as a Critical Condition• apply one year after MLC has paid your full CriticalIllness benefit where the benefit is not paid due to TPDas a Critical Condition (you must apply within 30 daysafter the one year waiting period ends).LimitationsFor TPD:• your restored insurance will only apply to death, not toTerminal Illness or Accidental Injury• if you take out TPD under LCS, in certain cases you mayneed to take new insurance outside the Scheme.For Critical Illness:• your restored insurance will only apply to deathand Terminal Illness (unless paid previously), not toAccidental Injury.If the Terminal Illness Support Option and the FinancialPlanning Benefit have been paid previously they will not beavailable under the restored Life Cover.If your TPD or Critical Illness insurance was issuedas a Connected Benefit, the owner of the originalconnected Life Cover policy will also own the restoredLife Cover insurance.The types of insurance offeredMLC will base the premium for the restored insuranceon MLC’s normal Life Cover rates and your age atthe time, taking into account the insured benefit, yourpremium structure and any special conditions on youroriginal insurance.MLC Life Cover Super and MLC Personal Protection Portfolio PDS Page 23