You will need to provide evidence satisfactory to Us each month of the additional childcare fees that have been paid before We will
make a payment under the Childcare Support Benefit. This payment is additional to the monthly Benefit.
WAITING PERIOD REDUCTION
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If this Income Protection Benefit has a Waiting Period of 26, 52 or 104 weeks the Life Assured can reduce this Waiting Period , without providing any further medical evidence, if the Life Assured’s Business Continuation Cover, Farmers Revenue Protection Cover or New to Business Cover is cancelled due to the Life Assured no longer being Actively Involved in the business or the business is sold or the business is no longer Actively Trading . The Waiting Period for this Income Protection Benefit will reduce to align with the Waiting Period on the cancelled Cover. The reduced Waiting Period on this Income Protection Benefit will apply to the lesser of: the monthly benefit for the Business Continuation Cover, Farmers Revenue Protection Cover or New to Business Cover at the time it was cancelled; or the monthly Benefit for this Income Protection Benefit . For example: A Life Assured has the following: • Income Protection Benefit with a $2,500 per month Benefit and a 52 week Waiting Period ; and • New to Business Cover with a $1,000 per month Benefit with a 13 week Waiting Period . When New to Business Cover is cancelled the Income Protection Benefit Waiting Period would be reduced to a: • 52 week Waiting Period with a $1,500 per month benefit; and • 13 week Waiting Period with a $1,000 per month benefit. within sixty (60) days of the cancellation of cover the Life Assured must notify Us in writing, with supporting evidence that they are no longer Actively Involved in the business or the business has been sold or the business is no longer Actively Trading ; • the Life Assured must be no longer Actively Involved in the business due to reasons other than retirement, redundancy, ill health or incapacity; • the Life Assured must be under the age of sixty (60); • if the Life Assured has had a claim paid or is entitled to be paid a claim under any policy with Us or any other insurance company, the request will be referred to an AIA New Zealand underwriter and full underwriting terms and conditions may apply; • the payment of premiums must be up to date and are not being waived for any reason. The following conditions apply: •
If We agree to reduce the Waiting Period , the following applies: • premiums will increase with any reduction in Waiting Period ;
PC-IP- 05/2026
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