If changes in the law occur after the policy commencement date and we believe on reasonable grounds that those changes will affect:
f) Information about your policy
Shortly before each anniversary date , Sovereign will send you a letter containing information about your policy. You may at any time write to Sovereign or your Sovereign adviser for further information about your policy.
> Our liability for tax, or
> The tax treatment of premiums payable or claims receivable, or > The way in which the policy works or the amount of benefit payable Then we can change the provisions of the policy but only to take into account the effect of the law change.
g) No surrender value
This policy does not participate in the profits of Sovereign . This policy has no surrender value or cash value if it is cancelled.
h) Suspension of cover
c) Policy subject to laws of New Zealand
You may write to Sovereign requesting suspension of cover under this MajorCare policy for the following reasons: > a life assured is traveling overseas for a period of two to 12 months; or > a life assured is registered as unemployed for a period of two to six months. Sovereign will require evidence of overseas travel or unemployment before agreeing to a suspension of this policy. No premiums will be payable and no cover will be provided under this MajorCare policy during the period of suspension. Cover under this MajorCare policy will be reinstated as long as premiums recommence when the overseas travel or unemployment ends or within the maximum time allowances, whichever comes first. During the term of this MajorCare policy, the total suspension period is a maximum of 12 months for overseas travel, and a maximum of six months for registered unemployment.
The laws of New Zealand govern this policy, which has been issued in New Zealand.
d) Notices
When you write to Sovereign about this policy, you must send all correspondence to Sovereign ’s head office in New Zealand or to a substitute address provided to you by Sovereign . The mailing address for Sovereign ’s head office is:
Private Bag Sovereign Victoria Street West Auckland 1142
The street address for Sovereign ’s head office is:
Sovereign House 74 Taharoto Road
Takapuna Auckland
If more than one person owns this policy, all of the policy owners must sign any correspondence sent to Sovereign . However, Sovereign will not be liable to any policy owner if we act on correspondence signed by one or more, but not all, of the policy owners . Sovereign is not bound by anything contained in a letter or notice you send unless we actually receive the letter or notice at Sovereign ’s address. When Sovereign writes to you about this policy, we will send the letter or notice to the address for the policy owner shown in the schedule , or a substitute address that you have given to us . You must immediately notify Sovereign of any changes to your postal or residential address. Every notice required to be given to you by Sovereign shall be deemed to be delivered three days after having been posted.
i) Complaints Procedures
Complaints by policy owners to Sovereign must be made in writing to the address specified in Section 7d or a substitute address provided by Sovereign . If the policy owner is not satisfied with the outcome of the complaint they have the right to refer the complaint to the Insurance and Financial Services Ombudsman. The Ombudsman can only deal with a complaint after Sovereign ’s internal complaints proced ure has been exhausted and a letter acknowledging this has been sent to the complainant.
e) Transfer of ownership
You may assign your policy at any time by completing the Memorandum of Transfer printed at the back of this policy. More than one person can own or take an assignment of this policy. A trust or trustee cannot own this policy. To be valid the assignment must be registered with Sovereign . No charge is payable in respect of an assignment of this policy.
134 MAJUMB-SA version 7 Effective 5 December 2016
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