Examples of Cover Term in a sentence
In the event the age so admitted (“Correct Age”) during the Cover Term is found to be different from the age declared in the member information form, without prejudice to our rights and remedies including those under the Insurance Act, 1938, as amended from time to time we shall deny the cover ab initio, vary the Sum Assured and/or recover/refund excess Premium.
Estimates are made of the amount likely to be paid to customers in respect of volume rebates and this is deducted from revenue as revenue is recognised.
Where We replace the Covered Item with a Replacement Item Your Cover will continue with the Replacement Item becoming the Covered Item for the remaining period of the Cover Term.
In the event the age so admitted (“Correct Age”) during the Cover Term is found to be different from the age declared in the member enrolment form, without prejudice to our rights and remedies including those under the Insurance Act, 1938, as amended from time to time we shall deny the cover ab initio, vary the Sum Assured and/or recover/refund excess Premium.
Any payment made under theComplimentary Family Final Expenses Benefit will not reduce the Sum Insured of the Life Cover, Term Cover or Accidental Death benefit to which the Complimentary Family Final Expenses is a built in benefit.We will only make one payment per Child under both this benefit and the Crisis Recovery Complimentary Family Protection benefit (if applicable).
A claim on one Child will not negate this benefit for the other Children, if any.The Complimentary Family Final Expenses Benefit Sum Insured we will pay in respect of an eligible Child will be the lower of:• $20,000; and• 10% of the highest of the Sum Insured under the Life Cover, Term Cover and Accidental Death benefit under the Life Insured’s Life Cover Plan at the time of the Child’s death or Terminal Illness.
However, if Decreasing Term Assurance is selected, the Sum Assured in respect of any Scheme Member shall reduce over the Cover Term based on the repayment schedule and shall be as per the Benefit Schedule defined at inception of the membership.
If the Covered Item suffers Accidental Damage during the Cover Term while You are in New Zealand or travelling anywhere in the world, We will at Our option Repair or replace the Covered Item or pay the Cover Amount, subject to Your payment of the applicable Excess and the Terms and Conditions.
Grace period allowed for renewal of the coverage is 30 days from the expiry of the Cover Term.
In the event of Accidental Death of a Member, during the Member Cover Term, 100% of the PAC Sum Insured shall be payable to the Nominee Accidental Death means death by or due to a bodily injury caused by an Accident, independent of all other causes of death.