MLC Life Insurance will distribute a simple product through NAB’s 760 branches, cutting out financial advisers.

NAB Essential Life is also available online and through call centres. It will offer up to $1 million cover with no medicals and minimal disclosure.

Customers can also use the Best Doctors program, giving access to independent medical advice from a network of more than 50,000 global experts.

MLC Chief Customer Officer of Bancassurance, Digital and Direct Anand Thomas says the product shows how the life insurer and bank will work together.

The bank still owns 20% of MLC after it sold the other 80% to Nippon Life earlier this month.

“The introduction of the Essentials range is a tangible example of how MLC Life Insurance and NAB are working together to make life insurance more accessible,” Mr Thomas said.

“Our strategic partnership with NAB provides us with access to one of the largest distribution networks in the industry.”

He says Essential Life is “another way for customers to access life protection easily.

“The product is best suited to those customers who don’t have complex debts arrangements and don’t have time to meet with a financial adviser, but want the security of protection.”