22.
What is the Concurrent Waiting Period Benefit?
b) Permanent Disablement Benefit
A Permanent Disablement Benefit will be paid if:
If the life assured is disabled and able to receive a Loss of Earnings Benefit under this policy, and they also hold a Business Overheads, Business Continuity, Rural Continuity or Locum Cover policy, then the waiting periods applicable to the life assured under each policy will be served concurrently from the disablement date . If during the waiting period under this policy, the life assured is able to claim the Recurrent Disablement under a Business Overheads, Business Continuity, Rural Continuity or Locum Cover policy, the portion of their waiting period for their Loss of Earnings under this policy will be considered to have been continuous and only the remaining period will apply.
> a Total Disability Income Benefit has been paid for 24 consecutive months in respect of a life assured; and
> in Sovereign’s opinion that life assured is permanently disabled .
The benefit is a monthly payment equivalent to 1/3 rd (33.3%) of the life assured’s monthly Total Disability Income Benefit as calculated in Section 2. The additional monthly payment will commence from the date when the Permanent Disablement Benefit claim is accepted by Sovereign.
The benefit will cease when the earliest of the following occurs:
> the benefit payment period ends; or
23.
What is the Optional Mental Health Limitation?
> the life assured dies; or
The Optional Mental Health Limitation applies only if it is shown in the schedule and if no mental health exclusion applies for this appendix . If the Optional Mental Health Limitation applies, Sovereign will only pay a claim due to a mental health disorder for a maximum of two years throughout the life of this appendix . The Optional Mental Health Limitation payment period will commence if in Sovereign’s opinion, after considering the advice of a registered medical practitioner and other relevant information, the life assured is deemed to be totally disabled or partially disabled as a result of a mental health disorder .
> the life assured is no longer permanently disabled .
c) Bereavement Grant
If the life assured dies while Sovereign is paying a Total Disability Income Benefit for that life assured, then Sovereign will pay a Bereavement Grant of three times the monthly Total Disability Income Benefit as calculated in Section 2.
No Bereavement Grant will be paid if:
> the life assured dies as a direct or indirect result of deliberately injuring himself or herself or attempting to do so; or
24.
Extra Benefits for the Premier Cover Option
> the life assured dies during the waiting period .
Sovereign will only pay one Bereavement Grant for each life assured across all Sovereign policies .
If you have chosen the Premier Cover Option, then the following extra benefits also apply:
25.
How to make a claim
a) Extra Cash Benefit
The Extra Cash Benefit will be paid monthly in advance and in addition to the Total Disability Income Benefit, for the first three months after the waiting period while the Total Disability Income Benefit is being paid. The Extra Cash Benefit is equivalent to 1/3 rd (33.3%) of the Total Disability Income Benefit for each month. Where applicable and only in respect of the period for which the Extra Cash Benefit is payable, the Extra Cash Benefit will be included together with the Total Disability Income Benefit in the calculation of the lump sum payment Sovereign may choose to make in lieu of up to 3 monthly benefit payments, as set out in Section 1.
To make a claim, the relevant procedures in the section of your TotalCare Max policy entitled ‘How to make a claim’ must be followed.
In addition, for a Loss of Earnings Benefit claim, Sovereign will require:
> the life assured to be examined by a registered medical practitioner acceptable to Sovereign, before accepting liability for a claim; and > a Sovereign claims form completed by the life assured and a registered medical practitioner (at your expense); and > other information which Sovereign may reasonably request to help assess the claim, which may include evidence of monthly earnings, taxable income , business accounts, ACC details or similar; and
This benefit is only payable once for a life assured.
> the life assured to undergo medical and/or surgical
819 TCP-LOE version 9 Effective 12 May 2026
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