INFLATION ADJUSTED BENEFIT OPTION
3
If the Policy Schedule shows You have selected the Inflation Adjusted Benefit option, the Total and Permanent Disability Benefit will increase on each anniversary of the Policy Commencement Date by an amount equal to the Consumer Price Index Increase for the year ended 30 September for which figures are available at the date the Sum Assured is to be increased. You may decline any Consumer Price Index Increase . This option expires upon termination of the Policy in accordance with Clause 7 “Termination”, Section B above. This option will cease once the maximum total Sum Assured of $5,000,000 has been reached. If the Policy Schedule shows that You have selected the Level Benefit option, the Total and Permanent Disability Benefit will remain at the amount specified on the Policy Schedule . If the Policy Schedule shows that You have selected the Level Indexed Benefit option, the Total and Permanent Disability Benefit will increase on each anniversary of the Policy Commencement Date by the percentage amount shown on the Policy Schedule . This option expires upon termination of the Policy in accordance with Clause 7 “Termination”, Section B. This option will cease once the maximum total Sum Assured of $5,000,000 has been reached. The Total and Permanent Disability Benefit may be renewed up to 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 . The Policy Owner(s) may apply for an increase in the Sum Assured without further evidence of health subject to the following conditions: We must receive a written request signed by all Policy Owner(s) within ninety (90) days of the applicable business event occurring. You must satisfy Us that the value of the Life Assured's financial interest is at least equal to the requested increase to the amount of cover. You must provide: • A valuation of the business or valuation of the Life Assured to the business (as provided by an independent qualified accountant or business valuer); and/or • Evidence of the loan guarantee, and any other contractual or financial evidence We may request. Any increase request’s calculation method must be consistent with that adopted in the Policy application. If You do not increase Your insurance by the full amount identified in a review of insurance requirements, You may not defer the potential increase to a later review. The option to increase the Sum Assured must be exercised before the option expiry date (see Clause 8 " Expiry of Business Increase Option " below).
LEVEL BENEFIT OPTION
4
LEVEL INDEXED BENEFIT OPTION
5
RENEWAL
6
BUSINESS INCREASE OPTION
7
A
B
C
D
BCP-TPD-05/2026
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