Common use of War risk Clause in Contracts

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war but was in one or more countries not at war during this period and where no acts of war took place. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium is waived or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than the amount of the additional mortality losses resulting from the state of war. If this is the case, we will arrange the following, no later than nine months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He can do so if the Financial Transactions (Emergencies) Act [Noodwet financieel verkeer] applies. In that case the restrictions in this section will lapse.

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated commutation values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war but was in one or more countries not at war during this period and where no acts of war took place. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium is waived or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than the amount of the additional mortality losses resulting from the state of war. If this is the case, we will arrange the following, no later than nine months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He can do so if the Financial Transactions (Emergencies) Act [Noodwet financieel verkeer] applies. In that case the restrictions in this section will lapse.

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated commuted values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war war, but was in one or more countries not at war during this period and where no acts of war took placeplace there. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium a paid-up policy is waived created or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than amount of the restrictions exceeds the amount of the additional mortality losses resulting from due to the state of war. If this is the case, we will arrange the following, no later than nine months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He The Minister can do so if the Financial Transactions (Emergencies) Act [(Noodwet financieel verkeer] ) applies. In that case case, the restrictions in this section subsection will lapse. With respect to the insurance policies administered by x.x.x. Xxxxxx, the provisions regarding war in the ‘General Conditions’ and the ‘Conditions for Disability Insurance’ take precedence over the provisions of this subsection.

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war but was in one or more countries not at war during this period and where no acts of war took place. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six (6) months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium is waived or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than the amount of the additional mortality losses resulting from the state of war. If this is the case, we will arrange the following, no later than nine (9) months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He can do so if the Financial Transactions (Emergencies) Act [Noodwet financieel verkeer] applies. In that case the restrictions in this section will lapse.

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war but was in one or more countries not at war during this period and where no acts of war took place. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six (6) months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium is waived or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than the amount of the additional mortality losses resulting from the state of war. If this is the case, we will arrange the following, no later than nine months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He can do so if the Financial Transactions (Emergencies) Act [Noodwet financieel verkeer] applies. In that case the restrictions in this section will lapse.

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated commuted values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war war, but was in one or more countries not at war during this period and where no acts of war took placeplace there. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium a paid- up policy is waived created or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than amount of the restrictions exceeds the amount of the additional mortality losses resulting from due to the state of war. If this is the case, we will arrange the following, no later than nine months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He The Minister can do so if the Financial Transactions (Emergencies) Act [(Noodwet financieel verkeer] ) applies. In that case case, the restrictions in this section subsection will lapse.

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated commuted values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war war, but was in one or more countries not at war during this period and where no acts of war took placeplace there. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium a paid-up policy is waived created or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than amount of the restrictions exceeds the amount of the additional mortality losses resulting from due to the state of war. If this is the case, we will arrange the following, no later than nine months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He The Minister can do so if the Financial Transactions (Emergencies) Act [(Noodwet financieel verkeer] ) applies. In that case case, the restrictions in this section subsection will lapse. With respect to the insurance policies administered by elipsLife, the provisions regarding war in the ‘General Conditions’ and the ‘Conditions for Disability Insurance’ take precedence over the provisions of this subsection.

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated commuted values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war war, but was in one or more countries not at war during this period and where no acts of war took placeplace there. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium a paid- up policy is waived created or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than amount of the restrictions exceeds the amount of the additional mortality losses resulting from due to the state of war. If this is the case, we will arrange the following, no later than nine months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He The Minister can do so if the Financial Transactions (Emergencies) Act [(Noodwet financieel verkeer] ) applies. In that case case, the restrictions in this section subsection will lapse. With respect to the insurance policies administered by elipsLife, the provisions regarding war in the ‘General Conditions’ and the ‘Conditions for Disability Insurance’ take precedence over the provisions of this subsection.

War risk. A number of restrictions apply in the Netherlands during a state of war. It does not make any difference whether or not a participant/former participant or pension beneficiary is in the armed forces. We establish when a state of war begins and ends, unless the Dutch Central Bank (DNB) does so. During a state of war: - the insured amounts are reduced by 10%; - the paid-up values are reduced by the amount by which the insured amounts have been reduced; - the commutated values and transfer values are reduced in the same proportion as the paid-up values. These reductions do not apply if the participant/former participant or pension beneficiary did not remain in the Netherlands during the entire state of war but was in one or more countries not at war during this period and where no acts of war took place. The participant/former participant or pension beneficiary must demonstrate that this applies to him or her. He or she must do so within six (6) months after the end of the state of war has been established, but by no later than the point when a pension benefit becomes claimable, or when the premium is waived or there is a transfer of accrued benefits. After the end of the state of war has been established, we will calculate whether the total reductions are higher than the amount of the additional mortality losses resulting from the state of war. If this is the case, we will arrange the following, no later than nine months after the end of the year of war in which the state of war ended: - any rebates will be reversed, either fully or partially; - any previous rebates imposed will be paid out, either fully or partially; - any rebates imposed for the future will lapse, either fully or partially. The Minister of Finance may oblige us to apply other restrictions. He can do so if the Financial Transactions (Emergencies) Act [Noodwet financieel verkeer] applies. In that case the restrictions in this section will lapse. Where the insurances implemented by elipsLife are concerned, the provisions regarding war in the ‘General Conditions’ and the ‘Conditions for Disability Insurance’ take precedence over the provisions of this section.