MLC Essential Critical Illness Review
A critical illness can affect a household in many ways. One of the key effects is often financial, which is especially true if the main income earner of the family is no longer able to work.
There is little you can do about falling victim to a critical illness. Sadly this means that people often find themselves in a situation where they are unable to work and earn an income, placing additional strain on their loved ones.
However, one way to minimise the impact of a critical illness is to have critical illness insurance. This is where the MLC Essential Critical Illness plan can prove to be invaluable.
How the MLC Essential Critical Illness can Help
MLC Essential Critical Illness insurance provides financial backup. Claimants are entitled to lodge claims for a lump sum benefit of up to $500,000 when they are diagnosed with one of a number of specified critical illnesses. This is money that can be used to pay for specialist care, make up for the loss of income and provide the family unit with financial security.
The critical illnesses covered by this insurance plan include:
- heart attack
- coronary artery bypass surgery
- major head trauma
- severe burns.
There are many benefits that you can enjoy when you take out MLC Essential Critical Illness. These key benefits include:
- Valuable peace of mind. When you have MLC Essential Critical Illness cover in place you have peace of mind. If you are diagnosed with a critical illness and therefore cannot work or earn money, you can rest easy in the knowledge that your family will not have to worry about finances.
- Enhanced financial security. When you have the MLC Essential Critical Illness plan in place you benefit from enhanced financial security if you are diagnosed with a critical illness. The lump sum payout from the plan ensures that you and your family still have financial stability even though you are not working or earning money as a result of your critical illness.
- Covers a range of critical illnesses. MLC Essential Critical Illness provides cover for a range of critical illnesses and conditions.
- No medical examinations. You are not required to undergo a medical examination prior to taking out MLC Essential Critical Illness plan. The application is based around a range of simple questions, making it fast, easy and simple to get the cover.
- Automatic increase. When you take out this insurance you will be able to benefit from an automatic annual increase in the coverage levels each year, in order to help protect your benefit against inflation, so you can always be sure that you have adequate coverage in place.
- Included services. The MLC Essential Critical Illness plan comes with the added benefit of access to leading doctors and a specialist medical advice service, which are included within the price of the plan.
- Ability to focus on recovery. When you are suffering ill health, the added stress of money only makes matters worse. MLC Essential Critical Illness takes the financial burden taken from you, so you can focus on your health and recovery.
With this range of benefits, MLC Essential Critical Illness is an admirable option for those looking for the peace of mind provided by a critical illness insurance policy. While no one plans on being diagnosed with a critical illness, it is impossible to predict the future. With this insurance plan you can be sure that being diagnosed with a critical illness does not necessarily mean being plunged into financial dire straits.
MLC General Exclusions
As with any insurance plan, you should make sure you check the small print with this insurance plan so that you know what the exclusions and restrictions are. You can then make an informed decision with regards to whether this is the right cover for your needs.
Some of the general exclusions include:
- a preexisting condition as outlined in the policy document
- failing to meet the definitions of said condition
- self-inflicted harm, injury or illness or attempted suicide
- being under the influence of drugs unless prescribed by a licenced medical practitioner
- being under the influence of alcohol
- being involved in a criminal activity
- a condition that you became aware of within 90 days of the commencement date of the policy such as cancer, stroke or heart attack
- surgical procedures that are the result of a condition of which you became aware within 90 days of the commencement date of the policy
- war or warlike operations
- participating ion dangerous behaviour or activities such as:
- rock climbing
- motor sports
- scuba diving at a depth more than 30 metres
- flying in any capacity other than that of a passenger of a regularly scheduled flight of a licenced commercial airline.
- working underground at depths lower than 10 metres or with explosives.