expenses and costs for that business or professional practice, calculated on a monthly basis. C Does not include unearned Income or Income derived from past or previous services from employment of the Life Assured . Including but not limited to interest earnings, rental income, royalties, or renewal commissions.
PRE-DISABILITY INCOME
5
A
Where the Life Assured does not directly or indirectly own the business or professional practice from which they earn their regular income, Pre-Disability Income means the greater of: • The Life Assured’s average monthly Income during any one (1) continuous twelve (12) month period elected by You during the three (3) years immediately prior to the Disability ; or • The monthly Income earned by the Life Assured immediately prior to the date of becoming Disabled where an increase in your Sum Assured occurred in the twelve (12) months prior to the start of Your Waiting Period . Where the Life Assured does directly or indirectly own the business or professional practice from which they earn their regular Income , Pre-Disability Income means: • The Life Assured’s average monthly Income during any one (1) continuous twelve (12) month period elected by You during the three (3) years immediately prior to the Disability. Means the Life Assured’s monthly Income, or the amount of Income the Life Assured is Capable of Earning per month while Disabled , as determined by Us after an assessment of present and likely capabilities based on: • the total of any other income replacement policy; and • employer remuneration, excluding any sick leave entitlements; and • any other sources in relation to the same disability. Is as defined by Us as a past or present history of symptoms suggestive of, and/or Diagnosis or treatment of, the following non- limiting list of mental health related problems: • Anxiety, depression, behavioural disorder, psychoneurosis, psychosis, or somatoform disorders; • Stress, fatigue, exhaustion, chronic fatigue syndrome; • Any psychiatric complication of physical disorders; • Post Traumatic Stress Disorder, drug or alcohol abuse; • Any other physical disorder related or attributable to stress or any other mental or nervous disorder. Involuntary Redundancy is defined as: Termination of the Life Assured’s permanent contract of employment by the Life Assured’s employer due to the fact that: • The Life Assured’s employer has ceased or intends to cease to carry on the business for the purpose of which the Life Assured was employed or has ceased or intends to cease to carry on that business in the place where the Life Assured was so employed; or • the requirements of that business for the Life Assured to carry out work of a particular kind in the place the Life Assured was so
B
POST-DISABILITY INCOME
6
MENTAL HEALTH DISORDER
7
OPTIONAL INVOLUNTARY REDUNDANCY BENEFIT
8
PC-IP LOE Premier- 05/2026
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