once the maximum total Sum Assured of $16,000,000 has been reached. This Benefit will expire on the Policy Anniversary Date after the Life Assured reaches seventy (70) years old. The Life Cover Benefit may be renewed up to the anniversary of the Policy Commencement Date following the Life Assured attaining age one hundred (100). The Policy Owner(s) may apply for an increase in the Sum Assured without further evidence of health subject to the following conditions: We must receive a written request signed by all Policy Owner(s) within ninety (90) days of the applicable business event occurring. You must satisfy Us that the value of the Life Assured's financial interest is at least equal to the requested increase to the amount of cover. You must provide: • A valuation of the business or valuation of the Life Assured to the business (as provided by an independent qualified accountant or business valuer); and/or • Evidence of the loan guarantee and any other contractual or financial evidence We may request. Any increase request’s calculation method must be consistent with that adopted in the Policy application. If You do not increase Your insurance by the full amount identified in a review of Your insurance requirements, You may not defer the potential increase to a later review. The maximum increase in the Sum Assured for Life Cover will be the lesser of five (5) times the Sum Assured at the Policy Commencement Date shown in the Policy Schedule , or the stated maximum increase as indicated on the Policy Schedule with a maximum total Sum Assured of $16,000,000. Any increase is subject to approval by Us . Any increase in the Sum Assured will require an additional Premium , the amount of which will be dependent on the current Premium Rates for the type of cover at the date the increase in Sum Assured is effected. Only one (1) increase can be made each year. The Business Increase Option will expire on the earliest of the following: • The date We receive Your written request to cancel the Benefit . • The maximum increase limit for the Sum Assured has been reached for the applicable Benefit . • If You are entitled to make a claim or We have paid a claim under this Life Cover Benefit . • The Policy Anniversary Date ten (10) years after the later of: o The commencement date of the Business Increase Option . o The last increase using the Business Increase Option We approved. • Non-payment of the Total Premium as set out in Period Of Assurance Section B, Clause 6.
RENEWAL
6
BUSINESS INCREASE OPTION
7
A
B
C
D
The option to increase the Sum Assured must be exercised before the option expiry date (see Clause 8 " Expiry of Business Increase Option " below). E
F G
H
EXPIRY OF BUSINESS INCREASE OPTION
8
BCP-LC-05/2026
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