Law changes affecting AIA or the policy If changes in the law occur after the risk commencement date and AIA believes on reasonable grounds that those changes will affect: > AIA’s liability to pay any tax; or > the tax treatment of any premiums payable or claims receivable in respect of the policy; or > the way in which the policy works or the amount which can be paid under the benefit; then AIA can change the provisions of the policy, but only to take into account the effect of the law change. Statutory fund Your insurance policy is part of the Statutory Fund Number 1.
AIA reserves the right, at any time and at their sole discretion, to: > Vary or restrict the qualifying benefits or products eligible for either of the abovenamed premium discounts; > Vary or withdraw any of the abovenamed premium discounts based on business rules; or > Cease offering any of the abovenamed premium discounts by giving at least 90 days’ notice in writing to the policy owner(s) (in which case they will cease across all AIA Start-Up Income Protection policies ). Other circumstances that can change your premium The other circumstances in which your premium will change are as follows: > When you add other benefits to the policy or increase or reduce the amount of benefits under the policy. > When a benefit ceases due to the life assured covered for that benefit attaining the benefit expiry age as specified in the schedule . > Any changes to the tax treatment of any premium payable or claims receivable in respect of the policy (such as changes to GST). How will you know what to pay? Each year prior to the anniversary date, AIA will write to you and tell you how much the premium will need to be to maintain your existing cover. If AIA tells you that premiums need to increase to maintain your existing benefit amount, you can choose to: > increase the premium to maintain the existing benefit amounts; or > reduce the benefit amount to the amount which your existing premium will cover. 17. Other important information What forms part of this policy contract? All the terms of this policy are contained in and based on: > This policy document including the schedule and any alterations made to this policy document as permitted under the policy. > Any application forms and declarations made by you, at any time, concerning this policy. > All statements which anybody who is insured under this policy has made to AIA . > Any provisions which any legislation states must be included in this contract, unless those provisions can be contracted out of, in which case they are deemed not included. Nothing else forms part of this contract.
Policy subject to laws of New Zealand The laws of New Zealand govern this policy. Notices
When you write to AIA about this policy, you must send the letter to AIA’s head office in New Zealand or a substitute address AIA gives you.
The postal address of AIA’s head office is: Freepost AIA
Private Bag 92499 Victoria Street West Auckland 1142 New Zealand
The street address of AIA’s head office is: AIA House 74 Taharoto Road Takapuna Auckland 0622 New Zealand
AIA is not bound by anything contained in a letter or notice you send unless AIA actually receives the letter or notice at the relevant address. When AIA writes to you about this policy, AIA 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. Information about your policy Shortly before the expiry date , AIA will send you a letter outlining the continuation options for this policy. Please contact your AIA Registered financial adviser to discuss new cover options.
1180 A-SU IP version 3 Effective 23 July 2021
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