The increase in respect of each Special Event cannot exceed $1,500 per month or the amount of any additional or increased mortgage repayments, whichever is the lesser. The sum of the total maximum increase under this Special Events Increase cannot exceed 75% of the original Sum Assured . The Premium for the increased cover will be based on the age of the Life Assured and Our Premium Rates at the time the option is exercised.
A B C D
Increasing an existing residential mortgage.
Purchasing a new home. Purchasing a vacation home.
Purchasing a bare block of land zoned as residential. In order to increase the Mortgage Income and Rent Benefit under this Special Events Increase a written application must be received by Us within six (6) months of the event occurring. The written application must be accompanied by evidence of the applicable event. The annual Total Premium or instalment of the Total Premium is payable for the entire duration of the Benefit. The Premium specified in the Policy Schedule will be recalculated at the expiration of the 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. The Mortgage Income and Rent Benefit may be renewed up to the anniversary of the Policy Commencement Date following the Life Assured attaining age sixty-five (65) as per the Policy Schedule , regardless of changes in the health or occupation of the Life Assured . If the Policy Schedule shows that You have selected this option, the Mortgage Income and Rent Benefit will remain at the amount specified in the Policy Schedule . No Benefits shall be paid under this Policy if the injury or sickness resulting in Total Disability or Partial Disability directly or indirectly was caused by or resulted from: Intentionally self-inflicted injury whether the Life Assured is sane or insane or participation in any criminal act.
PREMIUM
12
RENEWAL
13
LEVEL BENEFIT OPTION
14
EXCLUSIONS
15
A
B Pregnancy, childbirth, abortion or miscarriage unless the Total Disability lasts for more than ninety (90) days after the end of pregnancy, at which time the Waiting Period will commence. C In the case of a Policy with a Benefit Period of two (2) years, any injury, sickness, or related condition in respect of which twenty-four (24) months of Mortgage Income and Rent Benefits have already been paid. D In the case of a Policy with a Benefit Period of five (5) years, any injury, sickness, or related condition in respect of which sixty (60) months Mortgage Income and Rent Benefits have already been paid. E In the case of a Policy where the Mental Health Disorder Limitation option has been selected, any Mental Health Disorder or related Mental Health Disorders in respect of which twelve (12) months Mortgage Income and Rent Benefits have already been paid in total.
PC-MIRC- 05/2026
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