SECTION C - BUSINESS CONTINUATION COVER BENEFITS
TOTAL DISABILITY BENEFIT
1
If the Life Assured is Totally Disabled , We will pay, following the Waiting Period , the monthly Benefit for such period as the Life Assured remains Totally Disabled up to the Benefit Period (as defined in Clause 4 “Benefit Period” under Section D below) or until the Life Assured is no longer Totally Disabled , whichever is the sooner. This is a monthly Benefit payable in advance subject to receipt of a progress report completed by the Life Assured and a Medical Practitioner . Successive periods of Total Disability resulting from the same or related cause within twelve (12) months of resuming work shall be considered a continuation of the same Total Disability and no Waiting Period shall apply. Such periods of recurrent Total Disability shall be added to the original Total Disability period for the purposes of applying the Benefit Period . You must provide, at Your own expense, updated financial evidence to Us which in our sole opinion continues to justify the Benefit specified in the Schedule . The updated financial evidence must be provided at least once every two (2) years and no later than 90 days from the Policy Anniversary Date commencing on the second Policy Anniversary . Should the financial evidence not justify ninety percent (90%) of the current Sum Assured , We reserve the right to reduce the Sum Assured which in Our opinion is justified on the current Policy review. In the event of a claim being made where You have failed to provide financial evidence as required in clause 3 above, We reserve the right to conduct a Policy review requiring You to produce updated financial evidence before any claim will be paid. The amount then payable will be the lesser of the Benefit specified in the Schedule or the Benefit which in Our opinion is justified based on this current Policy review. If as a result of a Policy review, the financial evidence justifies, in Our sole opinion, an increase to the Sum Assured then You may apply to increase the Sum Assured without the need to produce any evidence of health of the Life Assured when You apply for this increase. The following conditions apply to any increase under this option: A You must apply in writing together with the financial evidence required to substantiate the increase; and B The basis on which the increase is calculated is consistent with that used at the time of applying for Business Continuity Cover; and C The Life Assured must be sixty (60) years old or under when applying for the increase; and D You have not previously made a claim under this Policy for the Life Assured ; and E The Life Assured is not receiving, has not applied to receive or is not entitled to receive disability or insurance benefits, including but not limited to ACC or any other government organisation scheme; and
RECURRENT DISABILITY BENEFIT
2
POLICY REVIEWS
3
FAILURE TO PROVIDE UPDATED
4
FINANCIAL EVIDENCE
BUSINESS INCREASE OPTION
5
BCP-BCC- 05/2019
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