In the event of the increase being for a mortgage, the amount of increase will be restricted to the lesser of: 1. $300,000; or 2. 50% of the original Sum Assured ; or 3. The mortgage amount or increase in mortgage amount. The total increase in the Sum Assured in respect of the aggregate of all Special Events is limited to $600,000 across all policies for each Life Assured .
Special Events
A MARRIAGE or CIVIL UNION of the Life Assured A copy of the Marriage Certificate or Copy of Particulars of Civil Union must be provided to Us confirming the date of Marriage or Civil Union . B DIVORCE or LEGAL SEPARATION of the Life Assured A copy of the Dissolution Order or Separation Order must be provided to Us confirming the date of the Divorce or Legal Separation . C BIRTH of a child of the Life Assured A copy of the Birth Certificate showing the relationship to the Life Assured must be provided to Us . D ADOPTION by the Life Assured A copy of the Adoption papers showing the relationship to the Life Assured must be provided to Us . E SALARY INCREASE for the Life Assured Evidence of the increase in wage or salary of the Life Assured must be provided in a form that is acceptable to Us . This option is not available if the Life Assured is a controlling director, self- employed or if the Life Assured can control their level of wage or salary. F TAKING FULL-TIME CARE OF A DEPENDANT of the Life Assured The Life Assured becoming responsible for the Full-Time Care of a relative who is the mother, father, brother, sister, son, daughter, grandfather or grandmother of the Life Assured . Evidence must be provided that is acceptable to Us . G TERTIARY EDUCATION of a child of the Life Assured The commencement of a first course of full-time tertiary education by a child of the Life Assured . The course must commence within three (3) years of the child leaving secondary education, and must be of at least twelve (12) months duration. The course must directly lead to a qualification that is approved by the New Zealand Ministry of Education, and must take place at a tertiary education institution approved by the New Zealand Ministry of Education within New Zealand. Supporting evidence must be provided that is acceptable to Us . H
MORTGAGE The taking out or increasing of a mortgage for the purchase of, or making extensions to, a residential property or residential investment property, a vacation home, or bare block of land zoned as residential to be owned by the Life Assured , or child of the Life Assured where the Life Assured is acting as a guarantor for the mortgage. A copy of the appropriate mortgage documentation must be provided to Us . CHILD OF THE LIFE ASSURED STARTING SECONDARY EDUCATION The commencement of secondary school for the first time by a child of the Life Assured . A copy of the child’s birth certificate and enrolment form must be provided to Us .
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PC-TPD-05/2026
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