The street address for Sovereign ’ s head office is:
Sovereign will require evidence of the suspension event before agreeing to a suspension of this policy. No premiums will be payable and no cover will be provided under this policy during the nominated period of suspension. Cover under this policy will be reinstated provided the premium is paid when the nominated period of suspension ends or within the maximum time periods described, whichever comes first. During the term of this policy, the total suspension period is a maximum of 24 months for overseas travel and a maximum of twelve months for all other suspension events.
Sovereign Assurance Company Limited Sovereign House 74 Taharoto Road Takapuna Auckland
If more than one person owns this policy, all of the policy owners must sign any correspondence sent to Sovereign . However, Sovereign will not be liable to any policy owners if we act on correspondence signed by one or more, but not all, of the policy owners . Sovereign is not bound by anything contained in a letter or notice you send unless we actually receive the letter or notice at Sovereign ’ s address. When Sovereign 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 a substitute address that you have given to us . You must immediately notify Sovereign of any changes to your postal or residential address. Every notice required to be given to you by Sovereign shall be deemed to be delivered three days after having been posted.
j) How do you make a complaint?
Complaints by policy owners to Sovereign must be made in writing to the address specified in Section 8e or a substitute address provided by Sovereign . If the policy owner is not satisfied with the outcome of the complaint they have the right to refer the complaint to the Insurance and Financial Services Ombudsman (www.ifso.nz). The Ombudsman can only deal with a complaint after Sovereign ’ s internal complaints procedure has been exhausted and a letter acknowledging this has been sent to the complainant.
f) Transfer of ownership
You may assign your policy to your spouse or de facto partner at any time by completing the transfer of ownership form printed at the back of this policy. A trust or trustee cannot own this policy. To be valid the assignment must be registered with Sovereign . No charge is payable in respect of an assignment of this policy.
g) Information about your policy
Shortly before each anniversary date , Sovereign will send you a letter containing information about your policy.
h) No surrender value
This policy does not participate in the profits of Sovereign . This policy has no surrender value or cash value if it is cancelled.
i) Suspension of cover
You may request a suspension of cover for a life assured under this policy:
> for up to 24 months if they travel overseas for a period of up to twenty-four months; or
> for up to 12 months if the policy owner ;
becomes unemployed or redundant;
−
goes on leave without pay for any reason;
−
experiences at least a 20% reduction in pay (comparing the most recent payslip against a previous payslip from the same year); or
−
− if self-employed, experiences a 30% reduction in revenue (by comparing one month’s revenue against the same month for the previous year).
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710 ABH-UMB version 8 Effective 8 April 2022
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