No one likes to imagine the worst, but it's worth thinking about what would happen if you were no longer around to provide for your family.

If you die or are diagnosed with a terminal illness, depending on the amount of debt you have chosen to cover, we’ll pay a lump sum up to a maximum of: $2 million for all debts per person insured (for all debt types) including a $50,000 limit for each personal loan.

No claim is payable for:

• Death or terminal illness arising from, or contributed to by a pre-existing condition.
• Suicide or attempted suicide within 13 months of the cover start date.
• Involvement in criminal activity.

What happens if you're unable to work due to an injury or illness? It's important to think about how you would support you or your family if you were unable to work.

If you’re unable to work due to sickness or injury on a continuous basis for more than 30 days, we’ll pay you a monthly benefit until the first of the following:

• You’re no longer disabled.
• You’ve returned to work, or
• 18 monthly benefits have been paid for a claim.

This cover is only available to customers who are gainfully employed which means you need to be working on average for 10 hours per week over a period of 6 months or more prior to the disability occurring.

No claim is payable:

• For a disability arising from, or contributed to by a pre-existing condition.
• Intentional, self-inflicted injury or illness.
• For any sickness, disease or symptoms contracted within the first 30 days of the cover start date,or the date your benefit was increased (for the increased portion of the benefit).
• If you’re not engaged in gainful employment.
• Involvement in criminal activity.

Critical Illness cover can help take away the worry of having to cover your day-to-day expenses while you undergo treatment or recover from surgery.

If you live for 14 days after first suffering a defined Critical Illnesses, we’ll pay a lump sum towards each debt you cover. 15 defined Critical Illnesses are covered.

In addition, this cover includes a Child Cover Benefit. If you have a child (aged between 2 and 18 inclusive) and your child dies or suffers one of 8 defined Child Cover Benefit conditions, we’ll pay a lump sum of up to $10,000. One Child Cover Benefit is payable per child to a maximum of six children.

No claim is payable for:

• A critical Illness arising from or contributed to by a pre-existing condition.
• Intentional, self-inflicted injury or illness.
• A critical Illness or Child Cover Benefit condition that first appears, happens, or is diagnosed within the first 90 days of the cover start date, or the date your benefit was increased (for the increased portion of the benefit).
• The Child Cover Benefit – any death or condition arising from or contributed to by an injury maliciously inflicted on the child by a policy owner.
• Involvement in criminal activity.

• Benign Brain Tumour – of specified severity
• Coronary Artery Bypass Surgery – excluding less invasive procedures*
• Cancer – excluding specified early stage cancers
• Chronic Kidney Failure – requiring permanent dialysis or transplantation
• Dementia or Alzheimer’s Disease – permanent and of specified severity*
• Heart Attack – with evidence of heart muscle damage
• Heart Valve Surgery – of specified severity*
• Major Burns
• Major Organ or Bone Marrow Transplant
• Motor Neurone Disease*
• Multiple Sclerosis – of specified severity*
• Muscular Dystrophy – unequivocal diagnosis*
• Paralysis
• Parkinson’s Disease – of specified severity*
• Stroke – in the brain and of specified severity

*These critical illness conditions are excluded from Child Cover Benefit

Being made redundant or your employer terminating your employment is hard, without having to also worry about your finances.

It’s important to think about how you would support you and your family if you lose your job involuntarily.

If you’re working and become involuntary unemployed on a continuous basis for more than 30 days after being gainfully employed, we’ll pay you a monthly benefit until the first of:

• You getting a new job, or
• Four monthly benefits have been paid for a claim.

This cover is only available to customers who are gainfully employed which means you need to be working on average for 10 hours per week and have been so over a period of 6 months or more, immediately prior to being made redundant. This cover is not available to persons who are self-employed or employed by their family.

No claim is payable if:

• You’re not engaged in gainful employment.
• You've received written or verbal notification of impending unemployment received before the cover start date, or within 30 days of the cover start date, or the date your benefit was increased (for the increased portion of the benefit).
• Your fixed term contract or seasonal work ends.
• You resign from your employment or choose to terminate an employment contract early.
• You become unemployed when self-employed or employed by your family.
• You're terminated by instant dismissal due to serious misconduct.
• You're involved in criminal activity.

An injury, illness, condition or symptom that you had in the 12 months prior to your cover Start Date, or for an increase to your cover, in the 12 months prior to the date of that increase, that you:

a) Were aware of, or a reasonable person in your position should have been aware of, and
b) Have, or should have, sought advice or treatment for from a Registered Medical Practitioner or other health professional (in circumstances where a reasonable person in your position would have sought advice or treatment).

Example of how the pre-existing condition exclusion applies to Disability cover:

In the 12 months prior to purchasing MLC Debt Insurance, Mark was suffering symptoms of anxiety due to workplace stress and was taking days off work to cope. He didn't seek any treatment for his anxiety. After purchasing the Policy, Mark was continuing to suffer anxiety symptoms and saw his doctor. He was diagnosed with anxiety disorder and was not able to work. Mark's claim for disability will not be paid as he had suffered anxiety symptoms in the 12 months prior to purchasing the Policy even though he did not seek any treatment in that period.