DEATH BENEFIT
4
The Death Benefit is payable if the Life Assured dies whilst receiving a New to Business Cover claim payment from Us and the Policy is inforce. The amount payable will be a lump sum amount of six (6) times the monthly Sum Assured detailed in the Policy Schedule . During a period of Total , Partial or Recurrent Disability for which a Benefit is being paid, all Total Premiums due will be waived by Us . If the Life Assured takes a period of leave without pay from his/her regularly remunerated occupation, You may elect to: A Suspend cover and the payment of Total Premiums for a maximum of twelve (12) months provided You have given Us prior notice and obtained Our approval. We will resume cover without requiring evidence of health for any insured person when the requested suspension period expires. Once cover is reinstated, Total Premiums must recommence. B We will not pay any Benefits under this Policy in respect of any event incurred while cover is suspended. C You can elect to keep Your cover in force. The annual Total Premium or instalment of the Total Premium is payable for the entire duration of the Benefit . Please note that the Premium Rates are not guaranteed and are subject to review from time to time. The Premium will be determined by the Premium Rates in effect at that time. The New to Business Cover 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 . You may convert Your Policy on the second and subsequent Policy Anniversary Date(s) prior to the Life Assured reaching age sixty-five (65) to an Indemnity Income Protection Policy of the same Benefit Period and Waiting Period . We will not require You or the Life Assured to produce further medical evidence at the time of conversion. The terms and conditions of the new Policy will be those which are then offered by Us to the general public.
WAIVER OF PREMIUM
5
LEAVE WITHOUT PAY
6
PREMIUM
7
RENEWAL
8
CONVERSION OPTION
9
BCP-NBC-05/2019
Page 9 of 11
Powered by FlippingBook