No payment will be made if the life assured is covered for the same event with a travel insurance provider.
cancelled Benefit. The reduced waiting period on this Disability Income Protection will apply to the lesser of: > the monthly benefit for the Business Overheads, Business Continuity, Rural Continuity or Locum Cover at the time it was cancelled; or
20.
What is the Childcare Support Benefit?
Sovereign will pay a Childcare Support Benefit in the following circumstances:
> the monthly benefit for this Disability Income Protection Benefit.
> the life assured is totally disabled or partially disabled and is receiving a monthly benefit; and
For example: A life assured has the following:
> as a direct result of the life assured’s total disability or partial disability, additional childcare costs are incurred over and above any childcare arrangements which existed prior to the life assured becoming totally disabled or partially disabled, in respect of any dependent child who is under the age of 14 years old ; and > the additional childcare services are not being provided by you or an immediate family member, in Sovereign’s sole opinion.
> Disability Income Protection with a $2,500 per month benefit and a 52 week waiting period ; and
> Business Continuity with a $1,000 per month benefit with a 13 week waiting period .
When Business Continuity is cancelled the Disability Income Protection Benefit waiting period would be reduced to a: > 13 week waiting period with a $1,000 per month benefit; and
The amount Sovereign will reimburse under the Childcare Support Benefit is the lesser of:
> 52 week waiting period with a $1,500 per month benefit.
> the actual additional childcare costs; or
The following conditions apply:
> $800 per month per dependent child under the age of 14 years old.
> Within 60 days of the cancellation of cover the life assured must notify Sovereign in writing with supporting evidence that the life assured is no longer actively involved in the business or the business has been sold or the business is no longer actively trading; > the life assured is no longer actively involved in the business due to reasons other than retirement, redundancy, ill health or incapacity;
This Childcare Support Benefit is payable until the earlier of:
> the life assured no longer being totally disabled or partially disabled; or
> six monthly Childcare Support Benefit payments have been made; or
> the end of the benefit payment period is reached; or
> the life assured must be under the age of 60;
> the end of the benefit term is reached.
> if the life assured has had a claim paid or is entitled to be paid a claim under any policy with us or any other insurance company the request will be referred to a Sovereign underwriter and full underwriting terms and conditions may apply;
You will need to provide evidence satisfactory to Sovereign each month of the additional childcare fees that have been paid before Sovereign will make a payment under the Childcare Support Benefit.
> the payment of premiums must be up to date and are not being waived for any reason.
This payment is in addition to the monthly benefit.
If Sovereign agrees to reduce the waiting period , the following applies:
> premiums will increase with any reduction in waiting period ;
21.
What is the Waiting Period Reduction Benefit?
> only one reduction in waiting period under this benefit is allowed without evidence of health;
If this Disability Income Protection Benefit has a waiting period of 26, 52 or 104 weeks the life assured can reduce this waiting period , without providing any further medical evidence, if the life assured’s Business Overheads, Business Continuity, Rural Continuity or Locum Cover is cancelled due to the life assured no longer being actively involved in the business or the business is sold or the business is no longer actively trading .
> any loadings, exclusions or special terms on the cancelled policy will be applied to the reduced waiting period benefit.
22.
What is the Concurrent Waiting Period Benefit?
The waiting period for this Disability Income Protection Benefit will reduce to align with the waiting period on the
If the life assured is disabled and able to receive a Disability Income Protection Benefit under this policy, and they also
807 TCP-DI version 13 Effective 12 May 2026
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