PREMIUM RATES
3
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 . However, We have the right to review at any time and from time to time the Premium Rates and handling fees applicable to all Total and Permanent Disability policies and to apply the reviewed rates and fees to this Policy at the commencement of the next Premium Guarantee Period . 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 . You 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. 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. The term of this Policy and the period of assurance covered by each annual Total Premium , or instalment of annual Total Premium , terminate on the due date of the next annual 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. Unless previously terminated, this Policy shall terminate on the earliest of: A The anniversary of the Policy Commencement Date following the Life Assured attaining age sixty-five (65) or age seventy (70) depending on the age specified in the Policy Schedule . B Payment of the Total and Permanent Disability Benefit . C Written notification of cancellation from You to Us at any time. D Non-payment of Total Premium as set out in Clause 6 “Period of Assurance” above. E Death of the Life Assured . Written notice of a claim must be given to Us within ninety (90) days after becoming eligible in accordance with the definition of Total and Permanent Disability under Section D “Total and Permanent Disability Benefit Definitions”.
PREMIUM PAYMENTS
4
POLICY FEE
5
PERIOD OF ASSURANCE
6
TERMINATION
7
CLAIMS
8
BCP-TPD-05/2026
Page 4 of 14
Powered by FlippingBook