8.
Key terms
will not be liable to any policy owner if we act on a letter or notice signed by one or more, but not all, of the policy owners . AIA is not bound by anything contained in a letter or notice you send unless we actually receive the letter or notice at the relevant address. When AIA writes to you about this policy, we will send the letter or notice to the address for the policy owner shown in the schedule , or to the email address(es) provided for the policy owner in the application for this policy, or any substitute postal and/or email address(es) you give us. You must immediately notify AIA of any changes to your postal, residential or email address. Every notice required to be given to you by AIA shall be deemed to be delivered five days after having been posted, or, where the notice is sent by email, 24 hours after the email has been sent.
In this policy document and optional benefit appendices some words have special meanings:
ACC
The Accident Compensation Corporation of New Zealand (or any organization or agency executing or administering the Accident Compensation Act 2001 ).
accident
Injury caused by violent, accidental, external and visible means.
accredited Adviser
Either an Adviser with a current financial adviser agreement with AIA Services Limited or a member of a financial services industry body approved by AIA .
Transfer of ownership
You may transfer the ownership of your policy at any time.
AIA
Means AIA New Zealand Limited, also referred to in this policy as ‘we’, ‘our’ or ‘us’.
To be valid the transfer must be on a transfer of ownership form and registered with us. If ownership of your policy has been transferred, references in this policy document to you, your and the policy owner(s) are references to the most recent transferee(s). A trust cannot be the owner of this policy. No charge is payable for a transfer of ownership of the policy.
AIA policy/policies
Any policy or policies where AIA is the insurer, this includes any related policy/policies issued by either: Sovereign Assurance
Company Limited or AIA International Limited, New Zealand Branch.
Information about your policy
Shortly before each anniversary date , AIA will send you a letter containing information about your policy. You may at any time write to AIA or your AIA accredited Adviser for further information about your policy.
AIA Vitality
Means AIA Vitality, a health and wellbeing programme offered by AIA.
anniversary date
The anniversary in each year of the first premium due date.
Worldwide cover
This policy and benefits cover the lives assured anywhere in the world. All payments AIA makes under this policy will be in New Zealand dollars.
annual salary
Regular remuneration that is subject to PAYE, excluding allowances in lieu of non- monetary remuneration and extra income such as, but not limited to, bonuses and overtime payments.
How do you make a complaint?
Complaints by policy owners to AIA must be made in writing. If the policy owner is not satisfied with the outcome of the complaint, they may have the right to refer the complaint to the Insurance and Financial Services Ombudsman . The Ombudsman can only deal with a complaint after AIA ’s internal complaints procedure has been exhausted and a letter acknowledging this has been sent to the complainant. You can obtain more information about the Ombudsman from the website: www.ifso.nz
appendix
The appendix contains the terms of any benefit you have chosen.
child/children
Any biological child/children, adopted child/children or child/children under the legal guardianship of:
The Ombudsman’s address is:
a life assured ; or
Insurance and Financial Services Ombudsman PO Box 10-845 Wellington 6143 Phone: (04) 499 7612 or 0800 888 202
the spouse, civil or de facto partner of a life assured .
claim event
The death, illness, injury, condition , or redundancy that you are claiming for under your AIA Living policy.
No surrender value This policy does not participate in the profits of AIA . The policy has no surrender value or cash value if it is cancelled.
1100 AL-UMB version 5 Effective 4 August 2023
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