MLC Life Cover Super MLC Personal Protection Portfolio

IncomeProtectioninsuranceWhat type of occupations arecovered under Income Protection?Professional, Clerical andGeneral OccupationsSpecial Risk OccupationsFarmers (under theFarmers Package)Covers people in most occupations.Covers people who work in certain special risk occupations which are hazardous or presentspecial assessment difficulties, such as armed security guards. For this type of insurance, MLCwill review your Income Protection insurance each year and may offer, but does not guarantee,its renewal. The maximum benefit period available is five years.Covers principal farm owners whose farm has been in operation for a minimum of two years andhas a positive balance sheet (total assets exceeding total liabilities) over the two financial yearsprior to application. The benefit is based on the gross farm turnover (the total revenue receivedby the farm business throughout the financial year prior to application).MLC or your financial adviser can tell you your occupation category.Life CoverSuperPersonalProtectionPortfolioAt what age can you apply forIncome Protection insurance? Professional and Clerical Occupations 18–59 18–59General Occupations 18–54 18–54Special Risk Occupations 18–54 18–54Farmers under the Farmers Package n/a 18–54To what age can you renewyour insurance?What benefit can youapply for?Professional and Clerical Occupations,General Occupations and Farmers under theFarmers PackageSpecial Risk OccupationsMinimumbenefitMaximumbenefit$500 per monthguaranteed renewableup to age 65not guaranteed renewableup to age 65Professional, Clerical and General, and Special Risk Occupationsmaximum 75% of your earnings up to $30,000 per month based on:• 75% of the first $240,000 per annum of earnings• plus 50% of the next $240,000 per annum of earnings• plus 25% of the next $240,000 per annum of earningsFarmers (under the Farmers Package)either up to $5,000 per month for a two year maximum benefit periodor up to $5,000 per month or up to 30% of gross farm turnover,whichever is less, for a five year maximum benefit periodFor example, if your earnings were $60,000 per annum and you are in a professional, clerical and general or special risk occupation,the maximum Income Protection benefit you could apply for would be $3,750 per month, being 75% of the monthly equivalent of$60,000 per annum ($60,000/12).Page 28 MLC Life Cover Super and MLC Personal Protection Portfolio PDS