INFLATION ADJUSTABLE CLAIM BENEFIT
10
If You are receiving a Benefit under this Policy , at the anniversary and each subsequent anniversary of the Policy Commencement Date, 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 Benefit . 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 9 “Termination” under Section B above.
MENTAL HEALTH DISORDER LIMITATION OPTION
11
If the Policy Schedule shows that You have selected this option, and the Life Assured is as a direct or indirect result of a Mental Health Disorder as defined under Clause 7 “Mental Health Disorder” under Section D below, the total Benefit Period for all claims arising out of this disability will be twelve (12) months from the end of the Waiting Period irrespective of the Benefit Period shown in the Policy Schedule . If the Life Assured is Disabled and undertakes a programme of occupational retraining while receiving an 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 Occupational Retraining Benefit will be reduced by any costs recovered from any other source. If the Life Assured dies during the term of this Benefit , We will pay You, three (3) times the monthly Benefit specified in the Policy Schedule up to a maximum of $30,000. If the Life Assured is outside of New Zealand and suffers, for the first time, a Disability and We have accepted the claim, We will pay the lesser of: Three (3) times the monthly Benefit specified in the Policy Schedule; or A single standard economy air fare to New Zealand by the most direct route available plus any transport costs to an AIA New Zealand approved medical facility in New Zealand where necessary. A Return to Home Benefit can only be paid once in any 12 month period. In total the maximum We will pay over the life of the Policy under the Return Home Benefit is $10,000. No payment will be made if the Life Assured is covered for the same event with a travel insurance provider. If this Income Protection Benefit has been continuously in force for three (3) years and no claim has been made or is eligible to be made, We will: Double the Death Benefit payable; and Double the maximum amount payable under the Occupational Retraining Benefit and Rehabilitation Equipment Expense Benefit
OCCUPATIONAL RETRAINING
12
DEATH BENEFIT
13
RETURN TO HOME BENEFIT
14
A
B
NO CLAIM BENEFIT 15
A B
PC-IP LOE Premier- 05/2026
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