MLC Life Cover Super MLC Personal Protection Portfolio

PremiumWaiverinsurancePremium Waiver insurance enables all premiumson a policy to be waived where the life insured isdisabled or retrenched.Premium Waiver insurance is only available for LifeCover, Total and Permanent Disability (TPD) and CriticalIllness insurance.Income Protection and Business Expenses insurancealready includes a built-in premium waiver benefit so thatpremiums are waived while the life insured is receivingbenefits for disability. This waiver benefit does notcover retrenchment.However, if you purchase Premium Waiver insurance withLife Cover, TPD and Critical Illness, and you also haveIncome Protection and/or Business Expenses insuranceas part of the policy, then the retrenchment provision ofPremium Waiver insurance will apply to all benefits.Only one life insured can be nominated for PremiumWaiver per policy. If that person becomes eligible to havetheir premiums waived under this insurance, premiumswill be waived for all benefits on all lives insured under thepolicy while the nominated person remains eligible to havepremiums waived.Premium Waiver at a glanceLife Cover Superand PersonalProtectionPortfolioWhen does MLC waiveyour premiums?While you are totally and permanently disabled under theAny Occupation definition up to age 65While you are receiving Income Protection benefits for Total Disability(as defined in Income Protection Plus on page 29) after you havebeen so disabled for six months, up to age 65••At what age can youapply for PremiumWaiver insurance?To what age can yourenew your insurance?For 12 months after you are retrenched, as long as you have had thistype of insurance and have been employed full-time by the sameemployer continuously for the 12 months before your retrenchmentNote: This benefit is available only once in any five year period.General, Professional or Clerical OccupationsGeneral, Professional or Clerical Occupations•18–54guaranteedrenewable up toage 65MLC or your financial adviser can tell you your occupation category. Premium Waiver is not availableif you work in a special risk occupation.Page 40 MLC Life Cover Super and MLC Personal Protection Portfolio PDS