FORFEITURE OF PREMIUMS
8
If this Policy becomes void or is terminated under any of these conditions all Total Premiums paid shall be absolutely forfeited to Us . Unless previously terminated, this Policy and any ongoing claims shall terminate on the earliest of: A The anniversary of the Policy Commencement Date following the Life Assured attaining the age of sixty-five (65) regardless of whether a claim is being paid. B Written notification of cancellation from You to Us at any time. C The death of the Life Assured . D Non-payment of Total Premium as set out in Clause 6 “Period of Assurance” above. E The Life Assured is declared bankrupt or their business is liquidated, placed into receivership, ceases to operate or cannot pay its debts when they fall due or is deemed not to be able to pay them in accordance with Section 287 of the Companies Act 1993 unless such action has occurred as a direct result of the death or disability of the Life Assured as determined by Us at Our sole discretion.
TERMINATION
9
WORLDWIDE COVER
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Cover under this Policy applies twenty-four (24) hours a day, anywhere in the world. If You are overseas during the period of a claim, Benefits will be paid in New Zealand currency. This Policy is the entire contract of insurance between You and AIA New Zealand . It comprises the following parts: • Your application for insurance; and • this Policy wording; and • the Policy Schedule ; and • any other written notice that AIA New Zealand gives You ; and • any written notice that You give Us . In the event of any changes in taxation after the Policy Commencement Date which affects the Benefits or Our liability, We may make such amendments or modifications to the Premium and Benefits and this Policy as We consider appropriate. This Policy does not participate in bonus distributions or acquire a cash surrender, loan or maturity value.
ENTIRE CONTRACT
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TAX CHANGES
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GENERAL
13 A
B Where this Policy refers to an Act of Parliament, this includes any Regulations made under it. It also includes any Act or Regulations enacted in substitution. C Your life insurance Policy is part of the AIA New Zealand Statutory Fund, effective 1 st September 2013. This is a requirement under the Insurance (Prudential Supervision) Act 2010, for policyholder protection.
BCP-NBC-05/2019
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