PREMIUM RATES
3
The term of this Policy and the period of assurance covered by each annual Total Premium, or instalment of annual Total Premium, terminates on the due date of the next annual Total Premium or instalment. A thirty (30) day grace period is allowed after the due date for payment of each Total Premium . This Policy will automatically terminate if the Total Premium is not paid before the expiration of the grace period. In such an instance this Policy can be reinstated subject to: • Our consent; and • such evidence of continued good health of the Life Assured as We may require; and • the payment of all Total Premiums in arrears together with such interest thereon as We may decide. We may vary your Benefits , charge additional Premiums or not allow You to reinstate the Policy if the health, occupation, financial position or pastimes of the Life Assured have changed. We will charge You a policy fee, which forms part of Your Total Premium. The policy fee is used to pay the ongoing administration costs of this Policy. The policy fee is specified in Your Policy Schedule. We may change this policy fee from time to time. If this occurs any such change will be notified to You in writing. No increase in Premium Rates will apply to this Policy as a result of change in the health, occupation or circumstances of the Life Assured except as provided for in Clause 4 “Occupation Change” below. However, We have the right to review at any time and from time to time the Premium Rates and handling fees applicable to this Policy and to apply the reviewed rates and fees to this Policy . In the event of the Life Assured changing occupation to any of the following, then the Life Assured shall notify Us , and We may decline future cover or increase future Premiums . In the event of Accidental Death (as defined in Clause 13 “Benefit Payment” below) arising from such occupation, if We have not received notification then We may decline the claim. The occupations requiring notifications are: • Demolition Workers • Telephone and Telegraph Workers • Electrical Power Workers • Involvement in Explosives and Munitions. With Our agreement the annual Total Premium may be paid by equal fortnightly, monthly, quarterly or half-yearly instalments but with such handling fees as We shall determine from time to time. We may cancel this arrangement at any time in respect of future Total Premiums . The Policy Owner may apply to Us to change the Premium or Benefits attributable to this Policy . Subsequent to this, We may change the Premium and/or alter any Benefits under this Policy in accordance with this instruction.
OCCUPATION CHANGE
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PREMIUM PAYMENTS
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POLICY FEE
6
7
PERIOD OF ASSURANCE
PC-ADB-05/26
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