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MLC Income Protection Insurance

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MLC is the division that manages the wealth of NAB. MLC not only provides investment products but also offers other financial products such as superannuation products and insurance products to both corporate and individual customers. As of March 2011, this company manages $122 billion on behalf of corporate clients and individual investors.

MLC income protection plans are offered to Australian residents who want to ensure that they can run their households, pay bills, mortgages and loans when they cannot work due to disability. The income insurance plans offered by this company pay up to 75% of the policy holder’s pre-tax deducted salary. In addition, the premiums are usually tax deductible and additional benefits are offered to members.

MLC believes in offering plans for everyone hence they offer plans meant for people with different budgets. This company offers three types of income protection plans to buyers in Australia. The first plan is known as Income Protection Platinum and this plan offers a comprehensive range of benefits for people in most professions. The second plan is known as Income Protection and this plan offers a wide range of benefits for people in most professions. The third plan is known as Income Protection Special Risk and this plan provides a range of benefits for people who work in hazardous working environments.

All the plans offered by MLC offer certain benefits such as a rehabilitation bonus, rehabilitation expense benefit and ensured financial protection if the policy holder is disabled due to mental disorders. Depending on the plan chosen, self employed policy holders are insured up to 65-70 years.


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Income protection is a crucial part of any comprehensive financial plan. If you’d like some help customising the correct policy for you, or want to know more about the income protection insurance benefits.