11. Key terms
In this policy document some words have special meanings:
premium due date
The date on which the premium is payable under the policy, as agreed with AIA .
accidental death
Death caused solely by violent, accidental, external and visible means. Means AIA New Zealand Limited, also referred to in this policy as ‘we’, ‘our’ or ‘us’. Any policy or policies where AIA is the insurer, this includes any related policy/policies issued by either: Sovereign Assurance
premium end date
The Premium End Date, as shown in the schedule.
AIA
premium payment term
Means the period from the risk commencement date to the premium end date, as determined by the age selected
AIA policy/policies
for the life assured in the schedule, during which premiums are payable .
Company Limited or AIA International Limited, New Zealand Branch.
related policy/policies
Any in force policy/policies for the life assured that were issued on or before the 4 th August 2019, where: Sovereign Assurance Company Limited (‘Sovereign’) was the insurer; and/or AIA International Limited, New Zealand Branch (‘AIA International’) was the insurer. AIA in its sole discretion may pay more than one benefit, or more than the stated maximum sum assured for the same claim event should the life assured have cover under one or more related policy/policies through both Sovereign and AIA International. The commencement date of the benefit, as shown in the schedule . A statement is substantially incorrect only if the difference between what was stated and what is actually correct would have been considered material by a prudent insurer. The amount of the Life Cover Benefit, as shown in the schedule . The most recent schedule for your policy and: any notice of a change to premiums ; and any policy alteration or
anniversary date
The date in each year that corresponds to the Anniversary Date specified in the schedule . Any biological child, adopted child or child under the legal guardianship of: the life assured ; or the spouse, civil or de facto partner of the life assured . The country in which the life assured was born or their country of permanent residence.
child
home country
life assured
The person insured for the benefit as named in the schedule.
material
A statement is material only if that statement would have influenced the judgment of a prudent insurer in fixing the premium or in determining whether they would have taken or continued the risk upon the same terms. The Paid-Up Eligibility Date shown in the schedule is the midpoint between the risk commencement date and the premium end date. Means the premium payments stop after the paid-up eligibility date and before the premium end date and the policy continues for a reduced sum assured with no further premiums payable. The person or people named as ‘policy owner’ in the schedule, also referred to in this policy as ‘you’ or ‘your’. The amount payable by you to AIA under this policy, comprising the cost of the benefits chosen by you.
risk commencement date
substantially incorrect
paid-up eligibility date
sum assured
paid-up
the schedule
endorsement documents recording a change to your policy.
policy owner(s)
transfer of ownership form
AIA’s standard form for an assignment of a policy by way of ordinary transfer.
premium
1400 A-CFL version 1 Effective 20 March 2026
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