quote which indicates this policy is intended to replace an existing policy will be sufficient evidence that your policy was issued on the basis that you would cancel the existing policy. Sovereign can cancel this policy and decline liability for any claims made under this policy if you or any life assured, or anyone acting on your or any life assured’s behalf, makes a claim under this policy that is false or fraudulent in any respect. In the event that a false or fraudulent claim is established after payment of a claim, all amounts paid in relation to the false or fraudulent claim must be repaid by you to Sovereign.
Nothing else forms part of this contract.
Law changes effecting Sovereign or the policy If changes in the law occur after the risk commencement date and Sovereign believes on reasonable grounds that those changes will affect:
Sovereign’s liability to pay any tax; or
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> The tax treatment of any premiums payable or claims receivable in respect of the policy (such as GST); or > The way in which the policy works or the amount which can be paid under benefits; then Sovereign can change the provisions of the policy or the benefits, but only to take into account the effect of the law change. Sovereign Statutory Fund Your insurance policy is part of the ‘Sovereign Statutory Fund Number 1’, effective 1 July 2013. This is a requirement under the Insurance (Prudential Supervision) Act 2010, for policy holder protection.
Non-disclosure or the provision of false or misleading information
Any information you or any life assured gives us, and any information given to us on your behalf, must be complete, true and correct.
If you or any life assured:
> fails to disclose material information to Sovereign prior to inception of this policy or any variation or reinstatement of this policy;, or > has made a statement on the faith of which the policy was issued, renewed, varied or reinstated that was substantially incorrect .
Policy subject to laws of New Zealand
The laws of New Zealand govern this policy, which has been issued in New Zealand.
Sovereign may, at its complete discretion either:
Notices
> subject to the Insurance Law Reform Act 1977, avoid your entire policy from its inception (this means the policy is deemed to have never existed); or > avoid from its inception any individual benefits provided by your policy (this means the individual benefit(s) are deemed to have never existed); or > alter the terms upon which cover is provided under your policy (such alteration of terms will be effective from the risk commencement date or such date of our choosing, at our discretion); or > remove from cover any life assured from inception but leave the policy in force for the remaining lives assured. If this policy is avoided or any terms altered or a life assured is removed from cover, we are entitled to retain all premiums paid in relation to the policy or that life assured.
When you write to Sovereign about this policy, you must send the letter to Sovereign’s head office in New Zealand or a substitute address Sovereign gives you .
The postal address of Sovereign’s head office is:
Freepost Sovereign Private Bag Sovereign Victoria Street West Auckland 1142 New Zealand
The street address of Sovereign’s head office is:
Sovereign Assurance Company Limited Sovereign House 74 Taharoto Road Takapuna Auckland 0622 New Zealand
7. Important information
What forms part of this policy contract? All the terms of this policy are contained in and based on: > This policy document including the schedule and any alterations made as permitted under the policy.
If more than one person owns this policy, all the policy owners must sign any letter or notice to Sovereign. However, Sovereign will not be liable to any policy owner if we act on a letter or notice signed by one or more, but not all, of the policy owners. Sovereign is not bound by anything contained in a letter or notice you send unless we actually receive the letter or notice at the relevant address. When Sovereign writes to you about this policy, we will send the letter or notice to the address for the policy owner shown in the schedule , or a substitute address you give us.
The relevant benefit appendix .
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> Any application forms and declarations made by you and any life/lives assured, at any time, concerning this policy. > All statements which anybody who is insured under this policy has made to Sovereign. > Any provisions which any legislation states must be included in this contract, unless those provisions can be contracted out of, in which case they are not included.
800 TC-UMB Version 9 Effective 06 March 2017
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