The BuyBack Life Cover Benefit does not apply to Life Cover issued under the Stand Alone Conversion Option. This option is not available for a Life Assured under the age of sixteen (16). You may at any time prior to the Life Assured reaching age sixty five (65): Convert all or part of the Trauma Cover Benefit from the Premium specified in Your Policy Schedule to a Level Premium structure. The Trauma Cover Benefit under this Policy will be reduced by the amount of insurance so converted; or Convert a Level Premium Term to a further Level Premium Term, of which duration may be the same or less than current Level Premium term. We will not require You or the Life Assured to produce further medical evidence at the time of conversion. The terms and conditions of the new Policy will be those which are then offered by Us to the general public. Premiums will be calculated on the current age of the Life Assured. Any loading(s) and/or exclusion(s) that applied to Your existing Trauma Cover Benefit will apply to Your new Trauma Cover Benefit . Upon payment of a full Trauma Cover Benefit , We will pay an additional lump sum of $1,000 to the Policy Owner for the purposes of seeking financial planning and/or legal advice. Only one (1) Financial Planning and Legal Benefit payment per Life Assured will be made regardless of the number of additional Policies held with Us . The Financial Planning and Legal Benefit is not payable for a claim for a Child of the Life Assured under the Children’s Trauma Top Up Benefit option, Children’s Benefit or the Newborn Children’s Benefit. We will pay a Parents Grieving Benefit if, during the term of this Policy : • a Child of a Life Assured dies prior to birth but after at least 24 weeks gestation; or • a Child of a Life Assured dies, subject to the following: • The amount of the Benefit is limited to: - if the Child is under ten (10) years of age, We ill only pay one (1) Parents Grieving Benefit of $2,000 per Child irrespective of how many Lives Assured are under this Policy , or any other policy containing the Parents Grieving Benefit; and - if the Child is ten (10) years of age or older, we will pay one (1) Parents Grieving Benefit of $15,000 per Life Assured under this Policy , or any other policy containing the Parents Grieving Benefit .
CONVERSION OPTION
24
A
B
FINANCIAL PLANNING AND LEGAL BENEFIT
25
PARENTS GRIEVING BENEFIT
26
• The Parents Grieving Benefit will not reduce the Life Assured’s Trauma Cover Benefit.
PC-TC-05/2026
Page 23 of 43
Powered by FlippingBook