MLC Life Cover Super MLC Personal Protection Portfolio

Gainfully employedKey person / revenueprotection insuranceInflationInsured benefitInterdependencyrelationshipMental disorderNon‐concessionalcontributionsNormal physicaldomestic dutiesPaid‐to dateWorking for earnings, payment or profit.A method used by a business or employer to protect against financial loss that may result from theloss of service of a key person in the event of death, sickness or injury. A key person is a personwithout whose knowledge or expertise the business would suffer financial loss.The increase in the price of goods and services as measured by the Consumer Price Index (CPI).The effect of inflation is that something you buy today will cost more in the future.The amounts shown in the Schedule for LCS which are the maximum amounts that will be paid tothe Trustee by MLC under each type of insurance provided.Broadly, an ‘interdependency relationship’ exists where two persons:• have a close personal relationship• live together• one or each provides financial support to the other, and• one or each provides domestic support and financial care to the other.If a close personal relationship exists but the other requirements of an interdependencyrelationship are not satisfied because of physical, intellectual or psychiatric disability, then aninterdependency relationship may still exist.A mental disorder is defined as any disorder classified in the Diagnostic and Statistical Manual ofMental Disorders (DSM) published by the American Psychiatric Association (APA) which is currentat the start of the period of total disability. Such disorders include, but are not limited to, stress(including post traumatic stress); physical symptoms of a psychiatric illness; mental disordersdue to a general medical condition; anxiety, depression, psychoneurotic, psychotic, personality,emotional or behavioural disorders; and disorders related to substance abuse and dependencywhich include alcohol, drug or chemical abuse dependency. If the DSM is discontinued, MLC willuse the manual chosen as its replacement by the APA.These contributions most commonly include your personal contributions for which you donot claim a tax deduction and contributions made by your spouse on your behalf. There are anumber of specific inclusions and exclusions and if contributions other than these are beingmade to your account you need to check the impact these may have on your non‐concessionalcontributions limit.Cleaning, cooking meals, doing the laundry, shopping for groceries and taking care ofdependent children.The date premiums are paid up to in whole months in line with the review date. The followingwill apply:• if you pay your premiums monthly, your insurance cover will end as at the next paid‐to date• if your premiums are deducted from your eligible MLC MasterKey superannuation productaccount, MLC will cease deducting premiums on the date the policy is cancelled andyour insurance cover will end as at the next paid‐to date, as outlined above for premiumspaid monthly• if you pay your premiums half-yearly or yearly, your insurance cover will end on the next monthlypaid‐to date following receipt of your cancellation request. Any premium paid by you for coverafter that paid‐to date will be refunded.DefinitionsMLC Life Cover Super and MLC Personal Protection Portfolio PDS Page 71