Change of Life Insured. This rider provides the ability to change the life insured under the policy without surrender/re-issue. The new insured must be fully underwritten. If the rider is exercised, the Reinsurer will continue to participate in the policy with reinsurance premiums based on the gender, risk class, and age of the new insured. There are no reinsurance premiums for the rider/benefit.
Change of Life Insured. While the policy is in force, You have the option to request for a change of Life insured after the second (2nd) Policy year, subject to the following conditions:
a) the new Life insured must meet the entry Age requirement;
b) there must be insurable interest between You and the new Life Insured;
c) acceptance of the new Life insured is subject to Our approval, depending on the insurability of the new Life insured and such other terms and conditions as We shall determine from time to time;
d) all exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured;
e) where the Policy owner is a corporation, Policy owner may request to change the Life insured under this policy, without any limit on the number of changes throughout the policy term;
f) where the Policy owner is not a corporation, Policy owner may request to change the Life insured under this policy, up to three (3) times throughout the policy term. If You have attached any optional rider(s) to Your Basic policy, the optional rider(s) will be terminated upon a change of Life insured. Any application of optional rider(s) for the new Life insured will be subjected to the applicable underwriting process and requirements.
Change of Life Insured. While the policy is inforce, You have the option to request for a change of Life insured from the third Policy year onwards, subject to the following conditions: • The new Life insured must meet the entry Age requirement; • All exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured; • Acceptance of the new Life insured is subject to Our approval, depending on the insurability of the new Life insured and such other terms and conditions as We shall determine from time to time; • Where the Policy owner is a corporation, Policy owner may request to change the Life insured under this policy, without any limit on the number of changes. Where the Policy owner is not a corporation, Policy owner may only change the Life insured once throughout the policy term; and • This policy will cover the new Life insured up to the Maturity date on the Policy anniversary immediately before the new Life insured attains 100 years old.
Change of Life Insured. You have the option to request for a change of Life insured from the third (3rd) Policy year onwards, subject to the following conditions:
a) the new Life insured must meet the entry Age requirement;
b) there must be insurable interest between You and the new Life insured;
c) acceptance of the new Life insured is subject to Our approval, depending on the insurability of the new Life insured and such other terms and conditions as We shall determine from time to time;
d) all exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured;
e) where the Policy owner is a corporation, Policy owner may request to change the Life insured under this policy, without any limit on the number of changes. Where the Policy owner is not a corporation, Policy owner may only change the Life insured once throughout the policy term; and
f) the policy will mature on the Policy anniversary immediately before the new Life insured attains 100 years old. If You have attached any optional rider(s) to Your Basic policy, the optional rider(s) will be terminated upon a change of Life insured. Any application of optional rider(s) for the new Life insured will be subjected to the applicable underwriting process and requirements.
Change of Life Insured. You have the option to request for a change of Life insured after the second Policy year, subject to the following conditions: Acceptance of the new Life insured is subject to our approval, depending on the insurability of the new Life insured and such other terms and conditions as we shall determine from time to time; All exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured; Where the Policy owner is a corporation, Policy owner may request to change the life insured under this policy, without any limit on the number of changes. Where the Policy owner is not a corporation, Policy owner may only change the Life insured once throughout the policy term; The Guaranteed Death Benefit cover will be revised to guarantee a minimum death coverage before the policy anniversary when the new Life insured attains age 90; and The Accidental Death Benefit will be revised to cover the new Life insured on or before the policy anniversary when the new Life insured attains age 80. If We have paid a claim under the TI Benefit, and the policy is still in force thereafter, the change of Life insured benefit will terminate under this policy. When the change of Life insured request becomes effective, the surrender value and any bonuses in the policy will be revised accordingly. We will notify You of any additional Top-up amount You may have to pay for the change of Life insured upon acceptance of Your application.
Change of Life Insured. Where the Policy owner is an entity, Policy owner has the option to request for a change of Life insured under this policy after the first Policy year, subject to the following conditions: Acceptance of the new Life insured is subject to our approval, depending on the insurability of the new Life insured and such other terms and conditions as we shall determine from time to time. The new Life insured must be a Key personnel of the entity; All exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured; and The policy term will remain unchanged. The policy will mature on the policy anniversary immediately before the original Life insured attains 100 years old. There are no restrictions on the number of changes that can be made.
