Click here to download the MLC Insurance Gap Calculator The Insurance Gap Calculator will help you find out if your current insurance (if any) is insufficient to maintain your family’s lifestyle in the event of sickness, accident or death. Income Protection If you are unable to work because of illness, income protection may provide you with a monthly income up to 75% of your pre-tax salary. Trauma (or Critical Illness): Provides a tax-free lump sum payment when a person is diagnosed with certain illnesses such as cancer, heart attack or stroke. Life Cover: Life insurance pays your beneficiaries or estate a lump sum when you die. Total and Permanent Disability (TPD): Pays a lump sum when the person insured becomes totally and permanently disabled. Business Expenses (for self-employed): Monthly reimbursement of business expenses during total disability.
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