>
Pregnancy of, or childbirth by, the life assured, unless the disability lasts for more than 90 days after the end of pregnancy, in which case the waiting period will start from the 91 st day.
> Cost of obtaining normal business services such as electricity, gas, water, telephone, laundry, cleaning and maintenance.
>
> Accounting and audit fees, advertising expenses and professional subscriptions.
>
The life assured does not comply with the treatment recommended by the attending treatment providers.
> Equipment or motor vehicle lease costs (of an expense nature).
If the life assured is imprisoned for any reason, no monthly benefit will be payable during the term of imprisonment.
> Depreciation of business equipment.
10. Key terms
actively involved
Working an average of more than 30 hours per week in the six months prior to the disablement date , inclusive of any periods of approved leave.
> Any other fixed expenses that are normal and customary in the conduct of that particular business .
But do not include:
benefit term
The term for which the life assured is insured for the Business Overheads Benefit as stated in the schedule .
> Salary, fees or any other amounts paid or payable from the business to:
benefit payment period
The maximum term for which the Business Overheads Benefit is payable as stated in the schedule . The benefit payment period commences at the end of the waiting period and ceases either 12 or 24 months (whichever is stated in the schedule ) later or when the life assured reaches the end of the benefit term , whichever is the earlier. The 12 or 24 month period (whichever is stated in the schedule ) is the total period for which benefits will be payable for all claims arising from the same or a related illness or injury.
–
the life assured; or
–
any person engaged to replace the life assured or any member of the life assured’s family unless that person or member was employed in the business for at least 30 days immediately before the disablement date .
> The repayment of any mortgage or loan principal.
> Any costs or expenses of a
capital nature (including the cost of equipment, fittings, fixtures, furniture and vehicles).
> The cost of any trading goods or other stock.
business
The business of the ‘Policy Owner’ named in the schedule .
The date the life assured became totally disabled .
disablement date
totally disabled / total disablement
See Section 3 of this appendix for the meanings of these key terms.
The following expenses incurred in relation to the business :
eligible business overheads
waiting period
The period stated as such in the schedule for which no Business Overheads Benefit is payable.
> Rent of business premises.
> Interest on business loans.
> The gross amount of salaries and related costs for employees who are totally unable to earn income
you/your
The ‘ Policy Owner ’ named in the schedule .
for the business while the life assured is totally disabled .
> Insurance premiums.
858 TCB-BCBOI version 4 Effective 21 May 2019
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