MLC Life Cover Super MLC Personal Protection Portfolio

Changing,replacing, transferring,renewing or terminatingyour insuranceAdding to or changingyour insuranceTo add to or change your insurance, complete the‘Application for Increase/Alteration/Reinstatement’ formand send it to MLC, who will accept or decline the change.The change is not effective until MLC acknowledges theacceptance of the change.The terms applicable to your additional insurance will bethose prevailing at that time.Premiums for the policy may alter if you add to or changeyour cover.Replacing insuranceIf you are replacing insurance, you should compare thedifferences between the existing and replacement policiesand only cancel your policy when the new insurance is inplace, because there is a risk that:• the new insurance may not provide you with benefitsthat would have been available under your existingpolicy (including benefits for conditions which areconsidered as pre-existing under the new policy)• you may be without protection if the new insuranceis not issued and your existing policy has lapsed orbeen cancelled.Renewing your insuranceGenerally, MLC will renew the policy each year (as longas you continue to pay the premiums), even if you makeclaims or your health worsens. However:• MLC does not renew Income Protection insurance forspecial risk occupations automatically, but assesseswhether it can renew the cover on a case by case basis• MLC will renew a Critical Illness Standard policy onterms and conditions that apply to Critical IllnessStandard insurance at the time of renewal (see‘Conditions covered by Critical Illness Standard andtheir definitions may change’ in the ’Critical Illness’section on page 20).Terminating insuranceYou can cancel any insurance or the policy at any time bynotifying MLC in writing.Your insurance may also end because your full benefitis paid, you reach your policy’s expiry age or terminationdate, you die, or because the policy is cancelled due to afraudulent claim or failure to pay premiums, as stated in‘When does insurance end?’ for each type of insurance.However, once replacement insurance is in place, youmust cancel your existing policy. If you do not cancel thereplaced policy, any benefit that becomes payable underthe new insurance will be reduced by any similar benefitthat you, your estate or a nominated beneficiary is entitledto receive under the policy that MLC and the Trusteeunderstood was to be replaced.Transferring insurance (within MLC)If 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 63