MLC MasterKey Business Super default insurance cover by age
MLC MasterKey Business Super gives eligible members default cover automatically: 1 unit of death (life) cover and 1 unit of TPD cover, on the Light Blue collar scale, paid from the member's super balance. The figures below are from the fund's current PDS (dated 1 October 2025), insured through Nippon Life Insurance Australia and New Zealand Limited (trading as Acenda).
Default death cover here peaks at $415,000 at age 35 and is $41,000 by age 60, a fall of 89%.
| Age | Death cover | TPD cover | One death unit is worth | Weekly cost per death unit |
|---|---|---|---|---|
| 15 | $90,000 | $180,000 | $90,000 | $0.53 |
| 16 | $90,000 | $180,000 | $90,000 | $0.53 |
| 17 | $117,000 | $203,000 | $117,000 | $0.82 |
| 18 | $144,000 | $224,000 | $144,000 | $1.18 |
| 19 | $171,000 | $247,000 | $171,000 | $1.58 |
| 20 | $197,000 | $270,000 | $197,000 | $1.98 |
| 21 | $224,000 | $292,000 | $224,000 | $2.35 |
| 22 | $251,000 | $315,000 | $251,000 | $2.69 |
| 23 | $278,000 | $338,000 | $278,000 | $2.98 |
| 24 | $305,000 | $359,000 | $305,000 | $3.24 |
| 25 | $332,000 | $382,000 | $332,000 | $3.49 |
| 26 | $353,000 | $415,000 | $353,000 | $3.42 |
| 27 | $363,000 | $415,000 | $363,000 | $3.43 |
| 28 | $374,000 | $415,000 | $374,000 | $3.54 |
| 29 | $380,000 | $415,000 | $380,000 | $3.60 |
| 30 | $388,000 | $415,000 | $388,000 | $3.67 |
| 31 | $397,000 | $415,000 | $397,000 | $3.71 |
| 32 | $404,000 | $415,000 | $404,000 | $3.78 |
| 33 | $411,000 | $415,000 | $411,000 | $3.79 |
| 34 | $412,000 | $415,000 | $412,000 | $3.99 |
| 35 | $415,000 | $415,000 | $415,000 | $4.21 |
| 36 | $411,000 | $411,000 | $411,000 | $4.27 |
| 37 | $393,000 | $393,000 | $393,000 | $4.22 |
| 38 | $383,000 | $383,000 | $383,000 | $4.33 |
| 39 | $368,000 | $368,000 | $368,000 | $4.50 |
| 40 | $353,000 | $353,000 | $353,000 | $4.64 |
| 41 | $337,000 | $337,000 | $337,000 | $4.78 |
| 42 | $317,000 | $317,000 | $317,000 | $4.83 |
| 43 | $296,000 | $296,000 | $296,000 | $4.78 |
| 44 | $274,000 | $274,000 | $274,000 | $4.81 |
| 45 | $254,000 | $254,000 | $254,000 | $4.89 |
| 46 | $233,000 | $233,000 | $233,000 | $4.89 |
| 47 | $218,000 | $218,000 | $218,000 | $4.98 |
| 48 | $202,000 | $202,000 | $202,000 | $5.01 |
| 49 | $191,000 | $191,000 | $191,000 | $5.09 |
| 50 | $174,000 | $174,000 | $174,000 | $4.96 |
| 51 | $157,000 | $157,000 | $157,000 | $4.80 |
| 52 | $142,000 | $142,000 | $142,000 | $4.69 |
| 53 | $127,000 | $127,000 | $127,000 | $4.53 |
| 54 | $111,000 | $111,000 | $111,000 | $4.20 |
| 55 | $96,000 | $96,000 | $96,000 | $3.90 |
| 56 | $83,000 | $83,000 | $83,000 | $3.60 |
| 57 | $70,000 | $70,000 | $70,000 | $3.25 |
| 58 | $56,000 | $56,000 | $56,000 | $2.78 |
| 59 | $47,000 | $47,000 | $47,000 | $2.54 |
| 60 | $41,000 | $41,000 | $41,000 | $2.43 |
| 61 | $32,000 | $32,000 | $32,000 | $2.05 |
| 62 | $27,000 | $27,000 | $27,000 | $1.88 |
| 63 | $22,000 | $22,000 | $22,000 | $1.66 |
| 64 | $17,000 | $17,000 | $17,000 | $1.38 |
| 65 | $12,000 | $0 | $12,000 | $1.05 |
| 66 | $10,000 | $0 | $10,000 | $0.95 |
| 67 | $10,000 | $0 | $10,000 | $1.04 |
| 68 | $8,000 | $0 | $8,000 | $0.91 |
| 69 | $7,000 | $0 | $7,000 | $0.88 |
| 70 | $5,000 | $0 | $5,000 | $0.69 |
Weekly costs are the fund's published rates. MLC MasterKey Business Super passes the super contributions tax benefit back to members, so the effective cost is about 15% less than the published rate.
General Advice Warning
This information is general advice only and does not take into account your personal objectives, financial situation, or needs. Before acting on any information, you should consider its appropriateness having regard to your own objectives, financial situation, and needs.