GUARANTEED PASS BACK OF BENEFIT ENHANCEMENTS
19
If We make future enhancements to Our Policy wordings We will pass back the enhanced benefit, feature and/or condition automatically to You. The enhanced benefit, feature and/or condition will only apply to claimable events which occur after the date We pass back the enhanced benefit, feature and/or condition to You. Any underwriting exclusion or special terms that apply to this Policy will not be altered by any enhanced benefit, feature and/or condition. This Benefit is to ensure that You are not disadvantaged as a result of the enhanced benefit, feature and/or condition. If You are inadvertently disadvantaged in anyway then the previous Policy wording will apply. You can apply for a Suspension of Premium Benefit for a period of up to twelve (12) months. The request must be made in writing by You to Us and accepted by Us . At the end of your requested suspension period cover will recommence and Premium payments must resume. Valid reasons for the Suspension of Premium Benefit are listed below: • Employer approved leave without pay; • Overseas travel; • Employer approved parental leave; • Tertiary Education; • Unempolyment or Redundancy; • Reduction in pay of at least 20% (comparing the most recent payslip against a previous payslip from the same year); • If self-employed, reduction in revenue of at least 30% (by comparing one month’s revenue against the same month for the previous year); or • Any other event We agree to, at Our sole discretion. Whilst this Benefit is in force no claim is payable by Us to You under this Policy . When Premium payments resume, no claim will be considered in respect of any claim event that first meets the criteria for an eligible claim during the period of Premium suspension. If the Policy Schedule shows that You have selected the Total and Permanent Disability Benefit option, then one (1) of the following conditions will be covered under this Benefit . If the Policy Schedule shows You have selected the “any occupation” option the definition is: The Life Assured being absent from his or her immediate pre-disability Employment as a result of injury or illness for a period of three (3) consecutive months and is so disabled that in Our opinion, after consideration of medical evidence satisfactory to Us , that he or she is unlikely ever to engage in work in any occupation for reward that he or she is reasonably qualified by education, training or experience which would remunerate at a rate greater than 25% of his or her earnings over the last twelve (12) consecutive months period of Employment . Or If the Policy Schedule shows You have selected the “own occupation” option the definition is: The Life Assured being absent from his or her immediate pre-disability Employment as a result of injury or illness for a period of three (3) consecutive months and is so disabled that
SUSPENSION OF PREMIUM BENEFIT
20
TOTAL AND PERMANENT DISABILITY BENEFIT OPTION
21
A
B
PC-TC-05/2026
Page 21 of 43
Powered by FlippingBook