B The Benefit will be reduced by any Income You receive or are entitled to receive as a result of the Life Assured’s personal exertion subsequent to the disablement date. A Where the Life Assured does not directly or indirectly own the business or professional practice from which they earn their regular income, income is defined as the total monthly value of the Life Assured’s remuneration in respect of the performance of the Life Assured’s regular occupation. Income includes: • salary • fees • commission • bonuses • and fringe benefits Income is determined by calculating the amount the Life Assured could be expected to receive if the Life Assured’s total remuneration was received as a salary or wage (before income tax is deducted). B Where the Life Assured directly or indirectly owns all or part of the business or professional practice from which they earn their regular income, income is defined as that earned by the business directly due to the Life Assured’s personal exertion or activities less the Life Assured’s share of the necessarily incurred business 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. Means the Life Assured’s Income during any one (1) continuous twelve (12) month period elected by You during the three (3) years immediately prior to the Total Disability . Means the Life Assureds Income, or the amount of Income the Life Assured is Capable of Earning while Partially Disabled , as determined by Us after an assessment of present and likely capabilities. 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 Assureds permanent contract of employment by the Life Assureds employer due to the fact that:
INCOME
6
PRE-DISABILITY INCOME
7
POST-DISABILITY INCOME
8
MENTAL HEALTH DISORDER
9
OPTIONAL INVOLUNTARY REDUNDANCY BENEFIT
10
PC-IP- 05/2026
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