INFLATION ADJUSTABLE CLAIM BENEFIT
9
At the end of each period of twelve (12) months during the time You receive a Benefit under this Policy , We will increase the monthly Benefit payable by the most recent Consumer Price Index Increase . When You are no longer disabled You can choose to keep the higher levels of insured Income . The Premium will increase accordingly. This Benefit does not apply if You have selected the Level Benefit Option as per Clause 7 “Level Benefit Option” above. This Benefit expires upon termination of the Policy in accordance with Clause 8 “Termination” under Section B above. If the Life Assured is Totally Disabled and undertakes a programme of occupational retraining while receiving a Vital Income Protection Benefit then, subject to written approval from Us , an additional lump-sum payment by way of reimbursement will be made for the cost of this training up to a maximum of twelve (12) times the monthly Benefit . This Benefit will be reduced by any costs recovered from any other source. If the Life Assured is Totally Disabled and confined to bed on direction of a Medical Practitioner and under the full-time care of a Registered Nurse (holding an Annual Practising Certificate issued by the Nursing Council of New Zealand) before the Waiting Period has elapsed and has been so for more than three (3) days, the Benefit payable after the third day will be a daily Benefit equivalent to 1/30 of the monthly Total Disability Benefit which will commence and will continue until the Life Assured leaves bed or until the Waiting Period has elapsed, whichever is sooner. The normal conditions apply after the Waiting Period has elapsed. If the Life Assured becomes Totally Disabled while being unemployed for more than twelve (12) months, the monthly Benefit will be limited to a maximum of $1,500 per month. If the Life Assured becomes Totally Disabled within twelve (12) months of becoming unemployed then the Benefit payable will be assessed as normal without the restrictions. If the Life Assured takes a period of Leave Without Pay from all regularly remunerated occupations You may elect to: A Suspend cover and the payment of Total Premiums for a maximum of twelve (12) months provided You have given Us prior notice and obtained Our approval. We will resume cover without requiring evidence of health for any insured person when the requested suspension period expires. Once cover is reinstated, Total Premiums must recommence.
OCCUPATIONAL RETRAINING BENEFIT
10
BED CONFINEMENT BENEFIT
11
IF UNEMPLOYED
12
LEAVE WITHOUT PAY
13
B
We will not pay any Benefits under this Policy in respect of any event that occurs while cover is suspended.
PC-VIP-05/2019
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