NAB Life Insurance

Choose from a variety of life insurance options with NAB

The NAB Group looks after more than 12,700,000 customers in Australia, New Zealand, Asia, the UK and the US, with more than 42,000 service professionals catering to individual customer needs.

While the NAB Group has a wide reach and encompasses the entire financial services spectrum, individual services from NAB maintain a high quality of service and value, ensuring the fees and charges applied are always fair and affordable, and that you are able to build and maintain a relationship with your NAB representative, so you'll always have access to help and advice when you need it.

The National Australia Bank is one of the leading financial institutions in Australia, and is therefore able to offer a comprehensive and reliable insurance solution to protect the life you've worked so hard to build for your family. NAB understands just how vital financial security is to a happy lifestyle, as a family can quickly be disrupted if one of the main income earners is unable to work due to illness or injury, or dies suddenly.

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Features of MLC Life Insurance with NAB

If you feel that the structure and service of NAB's life insurance offering could suit your family's needs, consider what you'll be getting with MLC life cover:

  • Online comparisons It is easy to compare NAB's MLC life insurance because you can conduct all of your research online whenever you have the spare time, and you can even request a quote online so that you can break down all the details of the policy. However, if you'd prefer to talk through your specific life insurance needs, you can also speak with an insurance expert from MLC.
  • Up to $1 million of coverage Depending on your age and other lifestyle factors, you can apply for up to $1 million of coverage, which can be paid to your family when you die. This lump sum benefit amount can be used to cover final expenses, or ongoing household bills, and your family can even pay off the mortgage or other debts to free up the budget.
  • Apply without a medical You don't need to have a medical or blood test to apply for MLC life insurance. Simply talk to one of the MLC insurance experts, and you can be covered immediately over the phone.
  • NAB financial planning services As you compare life insurance policies and consider your family's needs, you can work through your comparisons with a NAB financial planner, to help identify your needs and how best to achieve the goals you have for the future.

Different Types of Life Insurance Cover Available through NAB

You can also customise your life insurance package if you apply through NAB to include the benefits and features specific to your situation, which include:

  • NAB Essential Life Provides a lump sum benefit to your family if you are to pass away or are diagnosed with a terminal illness.
  • NAB Essential Critical Illness Critical illness cover with NAB provides a lump sum benefit amount if you suffer one of the critical illnesses specified in the policy.
  • NAB Essential Injury Provides a lump sum benefit up to $200,000 in the event you suffer a serious injury and are forced to take time out from work.

NAB is a strong and consistent pillar in the Australian financial market, and if you are looking for inclusive and affordable life insurance cover which is easy to understand, apply for and manage, MLC has the strength and reliability of the NAB Group behind it in offering you the solution.

How do I lodge a claim with NAB?

It’s easy to make a claim on your NAB Life Insurance. All you or your beneficiaries need to do is:

  1. Call NAB Life Insurance on 1300 411 535.
  2. Fill out the claim form.
  3. Submit it along with supporting documents.
  4. Wait while your claim is assessed.
  5. If approved, the benefit will be deposited into your nominated bank account.

Am I eligible for cover?

You can apply for NAB Life Insurance if you:

  • Are an Australian permanent resident. 
  • Are between 18 and 64 years of age.
  • Are not already covered by a NAB or MLC Essential Life policy.

The maximum level of cover offered under the NAB Life Insurance Policy will also vary depending on your age:

  • People aged 18 to 44 can be covered for up to $1 million.
  • People aged 45 to 54 can be covered for up to $750,000.
  • People aged 55 to 64 can be covered for up to $500,000.

Other things you might want to know about

Why should I bother with health insurance if I'm young and healthy?

The cost of your premiums is calculated by your age and health so the longer you remain uninsured, the more expensive your premiums will become if and when you decided to take out cover.

How much cover do I need?

It depends on your personal situation. If you have children to provide for or a mortgage payments to make, you would generally opt for a higher level of cover than someone who is single with no dependents or financial obligations. A financial adviser can help you decide the right level of cover for your needs.

How much will NAB Life Insurance cost me?

The cost of your premiums will depend on factors such as your age, gender, smoking status, occupation, lifestyle, medical history and the amount and period of cover you apply for.

Can I change my level of cover?

Yes, your policy is flexible and if you want to change your level of cover all you have to do is call NAB on 1300 411 535.

I'm a smoker, am I still eligible for NAB Life Insurance?

Yes, but your premiums will be increased due to your smoking habit.

What is the Best Doctors Service?

The Best Doctors Service is a global network of medical specialists who are leading experts in their field. It’s a service that’s available through your NAB Life Insurance at no extra charge and it can be used for situations such as confirming a diagnosis you’ve received or getting advice on treatment options.

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