SECTION D - INCOME PROTECTION BENEFIT DEFINITIONS
TOTAL DISABILITY 1
Means a period of injury or sickness commencing when the Life Assured first received advice from a Medical Practitioner for that injury or sickness provided that: A The Life Assured is under the regular and personal care of a Medical Practitioner ; and B
The Life Assured’s injury or sickness is supported by clinical evidence and approved by Us ; and The Life Assured is unable to: • perform at least one important income producing duty of their Usual Occupation and is not working in their Usual Occupation ; or • engage in their Usual Occupation for more than ten (10) hours per week; and The Life Assured is not working or engaged in any other occupation or business.
C
D
Totally Disabled has a corresponding meaning.
PARTIAL DISABILITY
2
Means a disability resulting from a serious injury or sickness which results in the Life Assured having returned to work in a reduced capacity. The reduction in work capacity must be as a result of the continuation of the disability. The Partial Disability must be supported by an appropriate diagnosis from a Medical Practitioner and evidence acceptable to Us and is subject to the following conditions: A
The Life Assured’s monthly Income is less than 75% of their Pre- Disability Income ; and The Life Assured is under the regular and personal care of a Medical Practitioner ; and The Life Assured is not Totally Disabled. Shall mean any person approved by Us registered with the Medical Council of New Zealand to render medical or surgical services, and who holds an Annual Practising Certificate. For diagnoses made outside New Zealand, this definition covers any appropriately qualified medical professional approved by Us . This definition excludes any person who is himself/herself the Life Assured , the spouse, de facto spouse, Civil Union partner, lineal relative, or business partner/associate of the Life Assured .
B
C
MEDICAL PRACTITIONER
3
BENEFIT
4
Means the annual Benefit , paid monthly, will be:
A The Benefit specified in the Policy Schedule for an “Agreed Value Contract”; or B The Benefit specified in the Policy Schedule or 75% of the average annual Pre-Disability Income of the Life Assured , whichever is the lesser, for an “Indemnity Value Contract”. A The Benefit will be reduced by an amount equal to the total of any other income replacement or any other form of employer remuneration, sick leave entitlements, disability compensation or other entitlement received from ACC, excluding welfare payments being received by the Life Assured from any other sources in relation to the same disability.
OFFSETS
5
PC-IP- 05/2026
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