(b) the total of the sum assured for all trauma benefits combined must not exceed $2,000,000 and the total sum assured for all trauma and Total Permanent Disablement Benefits (and similar benefits) combined must not exceed $5,000,000.
After an increase under this Facility has been made, Sovereign will not pay the increased benefit amount if, before the increase, or within six months of the Facility being exercised, the life assured: suffers any condition for the first time other than due to an accident under the Essential Living Assurance Benefit; or has any symptoms or signs leading to a condition (whether or not a registered medical practitioner has been consulted) that may result in a claim for anything other than an accident under the Essential Living Assurance Benefit.
What are the other conditions applying to this Facility?
You do not need to produce any medical evidence regarding the life assured when you request this increase, but any Special Events Increase is subject to the following conditions: You must make the request within 60 days either side of the relevant special event and provide Sovereign with suitable evidence of the occurrence of the event. A life assured is only eligible for special events increases where the special event occurs before age 55. If, at any time before you seek to exercise the Facility, a claim for the life assured had been accepted by us or notified to us, Sovereign will have discretion in determining whether the Facility can be exercised. In exercising discretion, we will consider whether the life assured represents an increased risk of claim for the benefit being added under this Facility. Only one of the following is available in any 12 month period:
Increases in sum assured issued as an additional new policy
Where this policy or any part of the sum assured under it, has been issued as the result of an increase under the Special Events Increase Facility, then: the Special Events Increase Facility will not be available under this policy for the proportion of the sum assured that represents the increase. Sovereign will not pay the increased benefit amount if, before the increase, or within six months of the increase, the life assured: − suffers any condition for the first time other than due to an accident under the Essential Living Assurance Benefit; or − has any symptoms or signs leading to a condition (whether or not a r egistered medical practitioner has been consulted) that may result in a claim for anything other than an accident under the Essential Living Assurance Benefit.
An Essential LAB Future Insurability Benefit increase (see Section 11 below);
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A Special Events Increase under a Living Assurance Benefit or Progressive Care Benefit; or (If applicable) exercising the Special Events TPD/Trauma Facility under the Life Cover Benefit and/or similar benefits to add an accelerated Living Assurance Benefit or an accelerated Progressive Care Benefit.
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11. Essential LAB Future Insurability Benefit
Sovereign will increase the Essential Living Assurance Benefit for a life assured from the date we accept your request. Each increase will require an increase in premium . This increase will be calculated on the rates applicable at the time the Special Events Increase Facility is exercised. Any loadings, exclusions or special terms on the original Essential Living Assurance Benefit sum assured will be applied to the increased amount. If you have the Optional Life Cover Buyback benefit selected on the policy for your original Essential Living Assurance Benefit, you can choose to add this benefit to the portion of the increased sum assured when you exercise the Special Events Increase Facility.
At every third policy anniversary date you may write to Sovereign asking us to increase the Essential Living Assurance Benefit for a life assured. You do not need to produce any medical evidence regarding the life assured when you request this increase, but any increase in sum assured under this Benefit is subject to the following conditions: You must request the increase by providing written advice to Sovereign within 60 days either side of the applicable anniversary date . Each individual increase cannot exceed 20% of the original Essential Living Assurance Benefit sum assured or $200,000, whichever is the lesser. The total of all Essential LAB Future Insurability Benefit increases for a life assured cannot exceed 100% of the original Essential Living Assurance Benefit for that life assured or $500,000, whichever is the lesser.
When will Sovereign not pay a claim for an increase under this Facility?
Increases in sum assured added to this policy
803 TCP-LAE version 14 Effective 12 May 2026
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