MLC

MLC Life Insurance

As the wealth management division of the National Australia Bank (NAB), MLC Australia is a well respected company for providing investments, superannuation, insurances, and other financial products for individuals and businesses in Australia.

MLC Life Cover insurances come in two types: Life Cover Plus and Life Cover Standard. Both types of life insurances do cover for death and terminal illnesses, but only Life Cover Plus can compensate you should have an accident. Both Life Cover Plus and Life Cover Standard can provide financial planning benefits and advance death benefits to policy holders, only Life Cover Plus allows increases without medical evidence.

Both options can be improved further with additional premiums to add a business safeguard option, terminal illness support options, cover for total and permanent disability (TPD) and loss of independence, and/or cover for clinical illness. Aside from these two types of life insurances, MLC also allows two more superior versions of life insurances known as Personal Protection Portfolio and Life Cover Super. Both of these life insurances have no maximum benefit limit and offer very extensive benefits to you not found in Life Cover Plus or Standard.

Both options enable people to combine different types of insurances into a single insurance. Personal Protection Portfolio allows you to choose from Life Cover, Total and Permanent Disability, Critical Illness, Income Protection, Business Expenses, and Premium Waiver. Life Cover Super is similar, but it only has three choices of Life Cover, Total and Permanent Disability, and Income Protection.

If you would like further information on any MLC Life Insurance Policy or Cover, contact our Life Insurance Consultants by using the online form on the right hand side of this page.