MLC Life Cover Super MLC Personal Protection Portfolio

Using yourinsuranceBeneficiariesIt is important to keep your beneficiary nomination upto date with changes in your personal circumstances.You can cancel or change your nomination at any timeby completing the Beneficiary Nominations Formavailable from mlc.com.au or by calling theMLC Client Service Centre on 132 652.You should speak to your financial adviser, estateplanner or legal representative to determine whichtype of nomination will best suit your circumstancesand how the complex tax rules about death benefitsand beneficiaries may affect you.MLC Personal Protection PortfolioHow can you control whoreceives your PPP death benefit?You may nominate a beneficiary to receive the Life Coverbenefit in the event of your death. You may nominate up tosix people to each receive a share of the Life Cover benefitin the proportions you nominate. Benefits paid for TerminalIllness and Accidental Injury will be paid to you.You can nominate beneficiaries on your application, andyou may vary or cancel your nomination at any time bycompleting a Beneficiary Nominations Form. The latestwritten nomination received by MLC will apply. Note:nominations cannot be made where the policy owner is atrustee of a trust or self-managed superannuation fund.Page 54 MLC Life Cover Super and MLC Personal Protection Portfolio PDSThe interest of a Nominated Beneficiary is purely personaland it cannot be sold or otherwise assigned or passed totheir estate. If a Nominated Beneficiary dies before the lifeinsured, the nomination is cancelled.If you assign the policy, any nomination will becancelled automatically.Nomination of a beneficiary is only available for anyinsurance taken out for non-business purposes.Generally, non-business purposes means that thebeneficiary does not pay an amount of money or otherconsideration to become nominated.What happens if you don’tnominate any beneficiaries?If you die while your Life Cover policy is in force, and you haveno nominated beneficiaries, MLC will pay the amount to yourestate unless MLC is legally required to pay the benefit tosomeone else.What happens if there is more than one policy owner?If there is more than one owner, they all own the policy jointlyand if one owner dies, the remaining owners still own thepolicy jointly.Benefits will be paid to the policy owner(s) you nominate or,if you don’t make a nomination, to the remaining owners.If all the policy owners have died, MLC will pay anybenefits to the estate of the owner who died last, unlesslegally required to pay someone else.Please consult your financial adviser or the policydocument for details.