MLC Life Cover Super MLC Personal Protection Portfolio

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IncomeProtectioninsuranceWhat if you can claimfrom another source?If you are paid a regular income benefit under governmentlegislation, such as workers compensation, MLC willreduce the amount we pay so the total you receive isnot more than 75% of your earnings before disability(or not more than the monthly benefit, for farmers underthe Farmers Package).If you receive a lump sum benefit from such a source,MLC will treat it as though it was paid as a monthlybenefit payable over eight years and adjust your benefitsaccordingly (dividing the lump sum into equal monthlyinstalments over an eight year period (1/96) to calculatethe amount to be offset monthly).No offset applies for social security payments or commonlaw benefits of either a regular income or lump sum nature.In addition to the above, the following applies:Income ProtectionStandardMLC will reduce the amountit will pay if you receive anybenefit from:• a superannuation orpension plan or any policyof income protection,salary continuance ordisability insurance• any income provided orarranged by an employer,partnership or business,including sick leave.Income Protection PlusIf at the time of applicationyou have over 90 daysaccumulated sick leave orhave disability insurancearrangements through youremployer, your policy mayinclude a condition that willreduce the benefit payable sothat the total you receive isnot more than 75% of yourearnings before disability.Time limits to claimFrom the time your total disability begins you have:• 30 days to inform MLC• 90 days to return the claim form MLC sends you.When won’t MLC pay?All IncomeProtectionpolicytypesIncomeProtectionStandard(additionalexclusions)MLC will not pay a benefit for anydisability arising from or contributedto by:• intentional self-inflicted injury orattempted suicide• normal and uncomplicated pregnancyor childbirth• war or warlike operations (does not apply toany benefit payable on your death)• any injury that occurred, or sickness thatfirst appeared, before the policycommenced or was last reinstated (unlessdisclosed to, and accepted by, MLC as partof the application or reinstatement process).• chronic fatigue syndrome or fibromyalgia• mental disorder and/or alcohol, drug orchemical abuse or dependency exceptwhere you are confined indoors and, underthe direction of an appropriately qualifieddoctor, are receiving full-time nursing care orcontinuous supervision (not provided by amember of your immediate family) to protectyourself or other people.When does Income Protectioninsurance end?Your insurance will end when:• the insurance is cancelled at your written request(cover ceases on the next paid-to date and MLC willnot refund any premium paid up to then)• the insurance is cancelled because you stoppaying premiums• the policy is cancelled because you make afraudulent claim• for LCS, the policy is converted to non-superannuationinsurance (insurance will continue as detailed on page 64)• for Special Risk Occupations, renewal is declined by MLC• you cease working for more than 12 months (or 2 yearsif you are on sabbatical from a professional or clericaloccupation), except as a direct result of disability or ifMLC approves an extension in writing• you turn 65• you retire, or stop work and do not intend to work anymore, for reasons other than disability• you reach the termination date shown in your Schedule• you die.Page 36 MLC Life Cover Super and MLC Personal Protection Portfolio PDS
BusinessExpensesinsuranceFor PPP (outside super) only, Business Expensesinsurance reimburses certain business expensesincurred while you are totally disabled, if youare self‐employed or in a small partnership.Business Expenses at a glancePersonalProtectionPortfolioWhat are you covered for?Monthly reimbursement of covered business expenses during totaldisability (as defined in Income Protection Plus on page 29)3 months extra benefits up to a maximum of $30,000 if you die whilereceiving benefitsWhat features are built in? World-wide coverage, 24 hours a day, 7 days a week •What options canyou choose?At what age canyou apply for BusinessExpenses insurance?Your choice of 14 day or 1 month waiting periodBusiness Expenses premium refund during disabilityHIV/AIDS Exclusion DiscountGeneral Occupations 18–54Professional or Clerical Occupations 18–59•••••The types of insurance offeredTo what age can yourenew your insurance?General Occupations and Professional or Clerical Occupationsguaranteedrenewable up toage 65What amount can youapply for?Minimum benefit (per month) $500Maximum benefit (per month) $60,000MLC or your financial adviser can tell you your occupation category. Business Expenses cover is not available if you work in aspecial risk occupation.MLC Life Cover Super and MLC Personal Protection Portfolio PDS Page 37
Page 1 and 2:
Policy FeesThese fees apply to:•
Page 3 and 4:
Policy fees as at20 May 2013Policy
Page 5 and 6:
Upgrades (continued)Type of insuran
Page 7 and 8:
Policy fees as at21 May 2012Policy
Page 9 and 10:
Making sure you’rewell protectedW
Page 11 and 12: Summary ofpolicy upgradesat a glanc
Page 13 and 14: ProductupgradesImprovements to Tota
Page 15 and 16: ProductupgradesNew! Child Support B
Page 17 and 18: ProductupgradesImproved definitions
Page 19 and 20: ProductupgradesIncome Protection -
Page 21 and 22: Insurance from MLCImportant informa
Page 23 and 24: Policy fees as at12 November 2010Po
Page 25 and 26: This page has been left blank inten
Page 27 and 28: Welcome to MLCAt MLC we protect you
Page 29 and 30: Contents1You’re makingthe right c
Page 31 and 32: You’re makingthe right choicewith
Page 33 and 34: Tailoring your insuranceWe also und
Page 35 and 36: The typesof insuranceofferedMLC Lif
Page 37 and 38: Life CoverinsuranceLife Cover insur
Page 39 and 40: How does a claim affect your insura
Page 41 and 42: How can you structure TPD andLoss o
Page 43 and 44: Critical IllnessinsuranceCritical I
Page 45 and 46: Critical conditionCriticalIllnessSt
Page 47 and 48: Additional critical conditions forw
Page 49 and 50: Information common toLife Cover, To
Page 51 and 52: During the first six months after c
Page 53 and 54: IncomeProtectioninsuranceIncome Pro
Page 55 and 56: When will MLC pay?Total DisabilityT
Page 57 and 58: What features are built in?Choice o
Page 59 and 60: Extra Benefits Option (for PPP Plus
Page 61: Home assistanceIf MLC is paying you
Page 65 and 66: How does Business Expensesinsurance
Page 67 and 68: When won’t MLC waive?MLC will not
Page 69 and 70: How itall worksMLC Life Cover Super
Page 71 and 72: When does your insurance start?If M
Page 73 and 74: How is your first premium treated?A
Page 75 and 76: Government chargesMLC and the Trust
Page 77 and 78: Contributing toMLC Life Cover Super
Page 79 and 80: Using yourinsuranceHow to claimMLC
Page 81 and 82: MLC Life Cover SuperHow can you con
Page 83 and 84: Who should use MLC Super Estate Opt
Page 85 and 86: Accessing yourMLC Life Cover Super
Page 87 and 88: MLC Life Cover SuperWhen is your fi
Page 89 and 90: Changing,replacing, transferring,re
Page 91 and 92: Transfers out of MLC LifeCover Supe
Page 93 and 94: PrivacyNotificationUsing and disclo
Page 95 and 96: DefinitionsMLC Life Cover Super PDS
Page 97 and 98: Gainfully employedKey person / reve
Page 99 and 100: Total and PermanentDisability (TPD)
Page 101 and 102: Critical IllnessDefinitionsCritical
Page 103 and 104: HIV contracted throughyour workInte
Page 105 and 106: Severe osteoporosisSevere rheumatoi
Page 107 and 108: Diagnosed multiplesclerosisDiagnose
Page 109 and 110: Interim AccidentInsurance Certifica
Page 111 and 112: Your application for LCS and/or PPP
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MLC Life Cover Super MLC Personal Protection Portfolio

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