> The spouse or de-facto partner of a life assured ,
> Any child or dependent who transfers to his/her own MajorCare policy will be issued with the MajorCare policy wording that is current at the date of transfer. You may remove any life assured under this policy at the anniversary date. You must advise us that you wish to remove a life assured from this policy at least 30 days before the applicable anniversary date. c) Adding or removing optional MajorCare benefits or adjusting your excess You may make a request to Sovereign in writing to add or remove optional MajorCare benefits specified in Section 3 of the MajorCare benefits sheet or to change the excess . If Sovereign agrees to your request any changes to the MajorCare benefits or the excess can only take effect from the next anniversary date . Sovereign is not under any obligation to agree to any optional benefit addition or removal or change in excess unless we are satisfied that the life assured is in good health. The life assured may be required to provide further health information before an optional benefit is added or removed, or change to an excess is made. Any optional benefit addition, or removal, or change to an excess may result in a change to your premium . Any change in premium , MajorCare benefits, or, excess to your policy will start from the date notified to you by Sovereign in the applicable policy endorsement.
> Any child under the age of 21 of an adult life assured .
Sovereign is not under any obligation to add an additional life assured(s) unless we are satisfied that the life assured(s) is in good health. Children are subject to an exclusion for congenital disorders as specified in Section 4 of the MajorCare benefits sheet unless Sovereign agrees otherwise. Children of an adult life assured are automatically covered under this policy for the first three months after being born. For a child’s cover to continue after the first three months, you must advise us in writing of t he child’s name, date of birth and gender. If you provide these details to us within this three-month period, the child will automatically be accepted for cover under this policy without the need to provide evidence of health. Details received outside of this period will result in the child having to be medically assessed. If a child is added to your MajorCare policy and the child is the first child to be covered under this policy, a premium increase will be required. No premium increase will be necessary if one or more children are already on this policy. If an additional adult is added then the appropriate premium will need to be calculated and paid. The additional adult will need to provide evidence of health unless Sovereign agrees otherwise.
b) Removing a family member / dealing with adult dependent children
7. Miscellaneous
> Under normal circumstances children listed on the schedule are covered until the first anniversary date after their 21st birthday. You will receive written notification from Sovereign advising you that a child’s cover under this policy is soon to expire prior to that anniversary date. > On reaching the age of 21 each child covered under this policy will be offered the opportunity to transfer to his/her own MajorCare policy without providing evidence of good health. However, the child must make a written application to Sovereign within three months after the anniversary date following his/her 21st birthday. > If a child insured under this policy has reached the age of 21 and falls within the definition of being a dependent , then you can apply to have them remain on this policy until he/she reaches the age of 25. You will be charged the appropriate age related premium for each dependent and cover will continue under this policy until the first anniversary date after their 25 th birthday. On reaching the age of 25 each dependent will be offered the opportunity to transfer to his/her own MajorCare policy without providing evidence of good health. However, the dependent must make a written application to Sovereign within three months after the anniversary date following his/her 25th birthday. Sovereign may request that you provide proof to establish that a child insured under this policy falls within the definition of a dependent .
Your Sovereign MajorCare policy is classified as a term life insurance policy.
a) What forms part of this policy contract?
All the terms of this policy are contained in and based on:
> This policy document including the MajorCare benefits sheet , schedule and any alterations made to this policy document, the MajorCare benefits sheet or schedule as permitted under this policy. > Any application forms and declarations made by you , at any time, concerning this policy.
> All statements, which a life assured , has made to Sovereign .
> Any provisions which any legislation states must be included in this policy, unless those provisions can be contracted out of, in which case they are not included.
> The policy illustration .
Nothing else forms part of this contract.
b) Law or Government Authority changes affecting Sovereign or this policy
134 MAJUMB-SA version 7 Effective 5 December 2016
Page 5 of 9
Powered by FlippingBook