this is caused by the same or a related illness or injury as the original period of total disablement or partial disablement. The provisions of Sections 1, 2, 3, 4 and 5 of this appendix will apply to any benefit claimed. If the benefit payment period is two or five years, all claims resulting from the same or a related illness or injury will be considered to be the same claim in respect of the benefit payment period .
Any benefit which Sovereign may agree to pay is to be reduced by any programme costs you or the life assured recover or are entitled to recover from any other source.
10. What is the Home Modification or
Equipment Expenses Benefit and when will Sovereign pay it? Sovereign may agree to pay you an additional lump sum payment of up to 12 times the monthly benefit amount calculated in Section 2. This payment is to cover the cost of buying specialised equipment or completing home alterations that, because of the life assured’s total disablement, have become necessary, in Sovereign’s opinion after considering the recommendation of an occupational therapist or an appropriate specialist approved by Sovereign. You must apply in writing to Sovereign before incurring these costs. Any benefit that Sovereign may agree to pay for the specialised equipment or home alterations will be reduced by any costs of buying specialised equipment or completing home alterations you or the life assured recover, or are entitled to recover from any other source. 11. What is the Property Special Event Facility? The Mortgage and Income Protection Benefit sum assured for the life assured may be increased if one of the following property special events has occurred for the life assured:
8.
Rehabilitation and Support
On receiving notification of a new or potential claim, we will appoint the life assured a Case Manager, who will work with the life assured to understand their personal situation and assist them with the claims process. They will work with the life assured to consider what rehabilitation or functional support could assist the life assured's return to work or improve their capacity to work, either during or after the waiting period as appropriate in the opinion of Sovereign. Acceptance of any costs associated with the agreed rehabilitation and functional support by Sovereign does not mean that we will accept liability for any other benefit under this appendix and are accepted at the sole discretion of Sovereign. 9. What is the Vocational Retraining Benefit and when will Sovereign pay it? Sovereign may agree to pay you a Vocational Retraining Benefit. The benefit payable will be the cost of a programme of vocational training for the life assured provided: the programme is approved in advance by Sovereign, and reviewed regularly; and the sole purpose for the programme is to assist the life assured to return to gainful employment at an earlier date than would otherwise have been possible; and the life assured actively participates and complies with the programme; and the cost of the programme is limited to the fee charged by the institution providing the programme and does not include the cost of text books, equipment and stationery, accommodation and transport costs; and the total amount which Sovereign will pay as a Vocational Retraining Benefit is limited to 12 times the monthly benefit amount as calculated in Section 2, except if the benefit payment period is two or five years, where the total amount is limited to 6 times the monthly benefit amount as calculated in Section 2; and vocational retraining must take place within New Zealand, or the country in which the life assured was residing for 6 months before becoming disabled; and the life assured is receiving the Total Disability Income Benefit when the programme begins.
an increase to an existing mortgage;
the purchase of a new home;
the purchase of a holiday home; or
the purchase of a bare block of land zoned as residential.
You do not need to produce any medical evidence regarding the life assured when you request this increase, but any property special event increase is subject to the following conditions: You must make the request in writing and provide Sovereign with suitable evidence of the occurrence of the property special event. You must make the request within 6 months of the relevant property special event occurring. The increase to the Mortgage and Income Protection Benefit sum assured for the life assured cannot exceed 115% of the increase in the mortgage repayment or $750 per month, whichever is the lower. The total maximum benefit amount payable for your Mortgage and Income Protection Benefit, including all increases, cannot exceed $6,000 per month across all Sovereign mortgage protection benefits. Sovereign may not accept an application or pay a claim on the increase under this Property Special Event Facility to increase cover for a life assured if you are entitled to or are receiving payment of a claim for a disability that the life assured suffered on or before the date of the application.
820 TCP-MIP version 8 Effective 12 May 2026
Powered by FlippingBook