within the 36 months immediately following the original claim event date; and following this period the same condition shall include any cancer that is either:
The Severe Trauma Benefit for a life assured under this policy after the use of this Facility cannot exceed the Life Cover Benefit for that life assured . After the use of this Facility, the Severe Trauma Benefit for a life assured under this policy plus any other Severe Trauma type cover held on the life assured with any insurer cannot exceed $2,000,000. The Optional Business Safeguard Facility cannot be exercised within six months of the risk commencement date . In any 12 month period you can make only two increases under this Facility.
o
of the same organ system as the original cancer;
−
− considered by the treating oncologist as likely to be a secondary cancer of the original cancer; or
a related cancer .
−
Any heart (or heart-related) condition if the original claim was for a heart condition or a stroke, except where the claim in respect of the reinstated Severe Trauma Benefit is for pulmonary hypertension, and it has not previously been claimed for and is not considered by an appropriate specialist as likely to be secondary or directly resulting from the original condition . Stroke, or any condition directly resulting from a stroke, if the original claim was for a heart (or heart- related) condition , except where the original claim was for pulmonary hypertension. Any exclusion which applied to the original Severe Trauma Benefit.
You must make the request within three months of the relevant business event.
To apply for the increase in cover, you need to write to AIA to satisfy us that the value of the life assured 's financial interest is at least equal to the requested increase to the amount of cover. You must include: - a valuation of the business or valuation of the life assured to the business (as provided by an independent qualified accountant or business valuer); and/or
- evidence of the loan guarantee, and any other contractual or financial evidence we may request.
Any increase is subject to approval by AIA .
14. Optional Business Safeguard Facility
The method chosen to value the business or life assured must be in accordance with established business valuation practice for the industry. The independent qualified accountant or business valuer cannot be a family member, business partner, employee or employer of you or the life assured . The method of valuation and valuer must be satisfactory to AIA . In the first six months following an increase, the life assured will only be covered for the amount of the increase if the life assured ’s condition occurs as a direct and sole result of an accident . You cannot apply for an increase under this Facility at any time when you have made, or are entitled to make, a claim under your Life Cover Benefit or Severe Trauma Benefit.
The Optional Business Safeguard Facility applies only if shown in the schedule and if you have selected an accelerated Severe Trauma Benefit. On each occasion that the financial interests of a life assured in the business increases, or their loan guarantee increases, or their value to the business increases, you may write to AIA asking us to increase the Severe Trauma Benefit for that life assured without the need to provide medical evidence, subject to the following conditions: The Severe Trauma Benefit for a life assured under this policy after the use of this Facility cannot exceed the lesser of five times the original Severe Trauma Benefit or $2,000,000. Example 1: Original benefit = $100,000 Original benefit x 5 = $500,000 Cover available after the use of this Facility cannot exceed $500,000 Total increase under this Facility cannot exceed $400,000
Each Optional Business Safeguard Facility increase will require an increase in premium . This increase will be
calculated on the rates applicable at the time the Optional Business Safeguard Facility is used.
Example 2: Original benefit = $500,000 Original benefit x 5 = $2,500,000 Cover available after the use of this Facility cannot exceed $2,000,000 Total increase under this Facility cannot exceed $1,500,000.
1166 ALB-ST version 2 Effective 12 May 2026
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