MLC Life Cover Super MLC Personal Protection Portfolio

When does your insurance start?If MLC approves your application you will receive:• a copy of the insurance policy issued to the Trustee whichincludes the Schedule and a letter of confirmation for LCS• a policy document which includes your Schedule for PPP.All the terms of your insurance are effective from the policystart date printed on your Schedule, which outlines thespecific insurances that apply to you.You should read the policy documents and Schedulescarefully to ensure the policy meets your needs.You will need these policy documents to makea claim, so keep them with this PDS in a secure,accessible place.Guarantee of upgradeWhenever MLC improves the benefits of a type ofinsurance you have chosen as part of LCS or PPPwithout any increase in rates or without charging anextra premium, MLC will add those improvements tothe policy. MLC will notify you of the effective date of anyimprovements to the policy. The improvements will applyonly to future claims and not to past or current claimsor any claims resulting from health conditions or eventswhich began or took place before the effective date ofthe improvements.If your application is declined, you will be notified.What you must tell MLC and theTrustee – Your Duty of DisclosureBefore you enter into a contract of life insurance withMLC, you have a duty, under the Insurance ContractsAct 1984, to disclose to MLC every matter that youknow, or could reasonably be expected to know, isrelevant to MLC’s decision whether to accept the risk ofthe insurance and, if so, on what terms.You have the same duty to disclose those mattersto MLC before such a contract of life insurance isextended, varied or reinstated.Your duty, however, does not require disclosure ofa matter:• that diminishes the risk to be undertaken by MLC• that is of common knowledge• about which MLC knows or, in the ordinary course ofbusiness, ought to know• for which your duty of compliance is waived by MLC.If you take out LCS the Trustee obtains life insurancefrom MLC on you. Because the Trustee is taking out alife policy at your request, the Trustee requires you tomake full disclosure to it on the same basis.Non-DisclosureIf you fail to comply with your Duty of Disclosure andMLC would not have entered into the contract on anyterms if the failure had not occurred, MLC may avoidthe contract within 3 years of entering into it. If yournon‐disclosure is fraudulent, MLC may avoid thecontract at any time.Even if MLC is entitled to avoid a contract of lifeinsurance MLC may, within three years of entering intoit, elect not to avoid it but reduce the sum for which youhave been insured in accordance with a formula thattakes into account the premium that would have beenpayable if you had disclosed all relevant matters to MLC.Your Duty of Disclosure continues until the contractof life insurance has been accepted by MLC anda policy is issued. It also applies if the contract isextended, varied or reinstated.Disclosure – MLC Transfer ApplicationsIf you apply to transfer your insurance from your existingMLC policy to a new MLC policy without increasing yourbenefits, our assessment of your application will relyon the information you provided to us for your existingMLC policy.How it all worksMLC Life Cover Super and MLC Personal Protection Portfolio PDS Page 45