SECTION C - LIFE COVER BENEFITS
BENEFIT
1
If the Life Assured dies We will pay the current Life Cover Benefit Sum Assured provided that: A The Life Assured dies before the Policy terminates as detailed under Clause 8 “Termination” under Section B above; And B The Life Cover Benefit Total Premium has been paid. The maximum Life Cover Benefit that We will pay per Life Assured is $16,000,000 irrespective of the number of Policies held. The Life Cover Premium specified in the Policy Schedule will be recalculated at the expiration of the selected Premium Guarantee Period specified in the Policy Schedule , and of each succeeding Premium Guarantee Period , based on the age at the next birthday of the Life Assured . If Your Policy Schedule shows that You have selected one of the Level Premium Guarantee Period options, the Life Cover Premium will remain level until the Level Premium Guarantee Period shown in the Policy Schedule ends. At the end of the selected Level Premium Guarantee Period the Premium will be recalculated to a Premium based on the age of the Life Assured . Subsequent Level Premium Guarantee Periods will be recalculated at each Policy Anniversary Date based on the age of the Life Assured .
PREMIUM
2
Or
If the Policy Schedule shows that you have selected a one (1) Year Premium Step option, Your Life Cover Benefit Premium specified in the Policy Schedule will be recalculated at the expiration of the initial and subsequent Premium Guarantee Periods , based on the age next birthday of the Life Assured . If the Policy Schedule shows that You have selected the Inflation Adjusted Benefit option, the Life Cover Benefit will increase on each anniversary of the Policy Commencement Date by an amount equal to the Consumer Price Index Increase for the year ended 30 September for which figures are available at the date the Sum Assured is to be increased. You may decline any Consumer Price Index Increase . This option expires upon termination of the Policy in accordance with Clause 8 “Termination”, Section B. This option will cease once the maximum total Sum Assured of $16,000,000 has been reached. If the Policy Schedule shows that You have selected the Level Benefit option, the Life Cover Benefit will remain at the amount specified on the Policy Schedule . If the Policy Schedule shows that You have selected the Level Indexed Benefit option, the Life Cover Benefit will increase on each anniversary of the Policy Commencement Date by the percentage amount shown on the Policy Schedule .
INFLATION ADJUSTED BENEFIT OPTION
3
LEVEL BENEFIT OPTION
4
LEVEL INDEXED BENEFIT OPTION
5
PC-LC-05/2026
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