> _Markdown transcription of Chubb Life NZ Life & Living Insurance policy wording, effective 2026-05-17. Source: https://www.chubb.com/content/dam/chubb-sites/chubb/nz-en/life/documents/chubb-life-and-living-insurance-policy-document-1.pdf_ --- # Life & Living Insurance Policy Document ## Contents - Welcome to Chubb Life ....................................4 - Take time to understand your insurance policy ................4 - We define some words and phrases....................................4 - Headings in this policy document are a guide only ..........4 - This policy is valid wherever you are in the world............4 - We can change this policy if the law or its interpretation changes ..................................................4 - Communicating with us..................................5 - Contact us if you have any questions about your policy ......................................................................5 - Let us know if your contact details change ........................5 - If you have a complaint, talk to us first................................5 - Giving us true, correct and complete information............................5 - Give us relevant information when you apply, and keep us updated................................................................5 - We can take action if we get untrue, incorrect or incomplete information ...........................................................5 - Making a claim...........................................................6 - Contact us as soon as possible..............................................6 - Tell us truthfully about anything that could affect your claim ............................................................6 - We'll pay claims to you unless you ask us otherwise.......6 - Understanding the benefits that your policy includes ...............................7 - Policy Enhancement Benefit..................................................7 - Suspension of Cover................................................................7 - Understanding what you pay....................8 - You pay protection premiums and a policy fee .................8 - You must continue to pay your premiums..........................9 - Changing or adding to your policy.....9 - Your policy is flexible ...............................................................9 - Write to us to change or add to your policy ......................9 - Your sum insured can increase in line with inflation ..... 10 - You can change who owns this policy.............................. 10 - What happens to this policy if you die............................. 10 - Cancelling this policy...................................... 10 - You can cancel this policy at any time.............................. 10 - We'll confirm with you when your cover ends............... 10 - We'll refund your premiums if you cancel within 30 days of your policy starting .............................. 10 ## Defining words and phrases ................... 11 - Accident................................................................................... 11 - Activities of daily living ......................................................... 11 - Anniversary date .................................................................... 11 - Commencement date ........................................................... 11 - Cover term .............................................................................. 11 - Dependant............................................................................... 11 - Endorsement schedule ......................................................... 11 - Fixed-term employment....................................................... 11 - Full-time care.......................................................................... 11 - Full-time employment........................................................... 11 - Gainful occupation ................................................................ 11 - Illness ........................................................................................ 11 - Inflation rate............................................................................ 11 - Injury......................................................................................... 11 - Medical practitioner .............................................................. 12 - Monthly income ..................................................................... 12 - Occupation class .................................................................... 12 - Original sum insured ............................................................. 12 - Other income.......................................................................... 12 - Payment term ......................................................................... 12 - Policy schedule....................................................................... 12 - Policy anniversary overview................................................ 12 - Policy year ............................................................................... 13 - Pre-disability income............................................................. 13 - Pre-disability occupation...................................................... 13 - Self-employment or self-employed ................................... 13 - Specialist .................................................................................. 13 - Sum insured............................................................................. 13 - Underwritten sum insured................................................... 13 - Waiting period........................................................................ 13 - Whole person function......................................................... 13 # Welcome to your Life & Living Insurance policy Thank you for choosing Life & Living Insurance, provided by Chubb Life New Zealand Limited (Chubb Life). This policy will give you peace of mind knowing you and your family will have financial support when you need it most. We're a licensed insurer. Visit our website to learn more about our financial strength and how much capital we hold: www.chubblife.co.nz/financial-strength ## Take time to understand your insurance policy It's good to get familiar with your policy now, before you need to make a claim. ### This policy document is part of your insurance contract. This policy document is made up of these general terms and the terms and conditions of each of your covers. It forms part of the insurance contract between you and us. Please read this policy document and the other documents and statements that form part of your insurance contract to understand the full terms of your policy. ### Other documents and statements that form part of your insurance contract As well as this policy document, the following also form part of your insurance contract. - The policy schedule - The completed application form we received - Any spoken or written statements that you or the life assured make to us, or your adviser (if one was involved) while applying for or changing your policy - Any special acceptance terms letters we send you - Any endorsement schedules we send you - Any policy anniversary overview we send you - Any written notice that you send us, or we send you - Anything we must include by law - Any additional terms and conditions we tell you about ### Each cover has its own terms and conditions that explain how it works Each cover's terms and conditions tell you what benefits you get under those covers and how they work. They form part of your policy document. ### Your policy schedule or endorsement schedule shows who this policy insures and when their cover starts and ends Your policy schedule or endorsement schedule shows who this policy insures. It shows the relevant details of the lives assured and their covers, including their occupation class, sums insured, protection premiums and the date when their covers and any additional benefits start. It also shows when cover will end. ## We define some words and phrases If a word or phrase is in italics, it has a particular meaning that we define in the 'Defining words and phrases' section starting on page 11 of this document. When we use any of these words or phrases, we mean the definitions we give in that section. In this document: - 'we', 'us', and 'our' means Chubb Life Insurance New Zealand Limited (Chubb Life), including its successors in title, permitted assigns and permitted transferees - 'you', 'your' and 'yours' means the policy owner or owners named on the policy schedule - 'life assured' and 'lives assured' means the person or people this policy insures who are named on the policy schedule. ## Headings in this policy document are a guide only The headings in this policy document are a guide only and should not be used to interpret the terms and conditions of your policy. ## This policy is valid wherever you are in the world This policy is valid wherever you and the life assured are in the world, whether you're living there or just staying temporarily. Some covers only apply in New Zealand. Check the terms and conditions of your covers to see if they're limited to New Zealand. ## We can change this policy if the law or its interpretation changes The laws of New Zealand govern this policy. Changes to the law and its interpretation can affect: - how the terms of this policy can be interpreted - our liability for tax. If either of the above happens after your policy starts, we'll change any part of the policy that is reasonably necessary. We'll write to tell you about the changes. ## This policy does not apply if sanctions prevent us from providing this insurance to you This policy does not apply to the extent that trade or economic sanctions or other laws or regulations prohibit us from providing insurance, including, but not limited to, the payment of claims. All other terms and conditions of the contract remain unchanged. # Communicating with us Let's keep in touch. We want to make sure you're satisfied with your policy. ## Contact us if you have any questions about your policy If you have any questions about your policy, don't hesitate to contact us. Email (general questions) Getintouch.NZ@chubb.com Email (questions about claims) Claims.NZ@chubb.com Free phone 0508 464 999 Phone (overseas) +64 4 471 9513 Chubb Life Insurance New Zealand Limited Private Bag 92131 Victoria Street West Auckland 1142 ## Let us know if your contact details change We'll send our correspondence to you by post or email. We'll use the most recent postal address or email address you've given us. Please let us know if your postal address, phone number or email address changes. ## If you have a complaint, talk to us first We want you to stay satisfied with your policy, so please contact us if you have any problems. We're committed to helping resolve any problem as quickly as possible. If we can't sort out the issue right away, our dedicated Customer Resolution Team will take on your case. If you're not satisfied with how we resolve a complaint or enquiry, you can talk to the Insurance and Financial Services Ombudsman (IFSO). It's a free, independent service which can help settle any dispute. Call the Insurance and Financial Services Ombudsman or visit their website to find out more: Free phone 0800 888 202 Website www.ifso.nz # Giving us true, correct and complete information All information we get from you, the life assured, and anyone giving information on your or their behalf must be true, correct and complete. We rely on this information to make decisions about the policy, for example: - what cover we'll offer - how much we'll insure the life assured for - the terms of this policy - the premiums we charge - the result of any claims - whether we'll agree to any changes to the policy - whether we'll reinstate the policy. ## Give us relevant information when you apply, and keep us updated You, the life assured, and anyone giving information on your or their behalf, must tell us: - all information you and they know (or ought to know) that could affect decisions we need to make about your policy - when any of the information changes, or if new information arises, before your cover starts or before any change to this policy takes effect. You must let us know if any information changes while we are assessing your application for this policy, or any changes to this policy. ## We can take action if we get untrue, incorrect or incomplete information If any of the information we get is not true, correct and complete, we can take any one or more of the following actions. - Keep the premiums you've paid us - Increase your protection premiums - Stop covering the life assured - Remove or change covers that insure the life assured - Exclude a medical condition, activity or body part so the life assured cannot make a claim related to it - Refuse to pay a claim you apply for - Recover any claim payments we've already paid you - Recover from you the costs and expenses we incur connected with this policy - Avoid this policy (if the law permits) – this means treating this policy as though it never existed - Cancel this policy # Making a claim When you make a claim, we want everything to go smoothly. This section explains how we can work with you to manage your claim as quickly as possible. ## Contact us as soon as possible Let us know as soon as something happens that could lead to you making a claim. Email Claims.NZ@chubb.com Free phone 0508 464 999 Phone (overseas) +64 4 471 9513 ### We'll tell you what to send us When you contact us, we'll tell you what to send us so we can progress your claim. What we need will depend on the cover you are claiming on and the type of claim. You'll need to send us supporting documents. These must give us all the information we need to assess your claim. The documents that you need to send us may include: - your properly completed claim form or forms - proof of identity for the life assured, unless you've already provided this before - proof of the event or condition you're making the claim for - confirmation of the diagnosis, recommendation or prognosis leading to the claim – from an appropriate medical practitioner or specialist in the field relating to your condition - copies of all investigations that we think are relevant to your claim – for example, clinical, radiological, histological or laboratory evidence - proof of payment (if you're claiming for a reimbursement). We can also request any other test, evidence or examination that we need to assess your claim. This could include: - examination by a specialist or appropriate medical practitioner that we choose - proof of monthly income and any other income - proof of ongoing eligibility for your claim - capacity and occupational assessments. ### We may need information from another person We may need information from another person to progress your claim, such as a health provider, medical practitioner or specialist. In those cases, we may ask you to help us get what we need. ### We'll keep you updated We'll keep you updated on the progress of your claim and let you know if we need any more information to finish our assessment. ### We'll fully assess your claim before we pay it We'll pay your claim once we're satisfied that: - we have all the information we need to properly assess your claim - the life assured fulfils the relevant criteria - no exclusion or other limitation of cover applies. ### Your cover must be in force to claim We'll only pay your claim if the life assured or any other insured person meets all the criteria to claim while the policy is in force. Some covers must remain in force for you to receive ongoing claim payments. ## Tell us truthfully about anything that could affect your claim You, the life assured, and anyone giving information on your or their behalf, must tell us everything you or they know (or ought to know) that could affect how we assess your claim. Any information we receive must be true, correct and complete. Any information you give to anyone we may rely on in assessing your claim – for example, your medical practitioner or specialist – must also be true, correct and complete. ### Giving us untrue, incorrect or incomplete information may affect your claim or your policy If we get information that is untrue, incorrect, or incomplete, we may decline the claim and not pay it. We may also take action, as explained in the above section 'We can take action if we get untrue, incorrect or incomplete information'. ## We'll pay claims to you unless you ask us otherwise We'll pay claims to you. We may agree to pay claims to someone else if you ask us in writing. We'll make all our payments in New Zealand dollars, to the bank account you chose. # Understanding the benefits that your policy includes On top of the benefits we include with each of your covers under this policy, you also get the following built-in benefits. If any other additional benefits apply to your policy, they'll be included following page 13. ## Policy Enhancement Benefit We're committed to improving and enhancing our products. If we enhance this product after you've taken out this policy, we may pass any enhancements on to your policy and cover. If we've enhanced your policy or cover after you took it out, we'll assess your claim and administer your policy to give you the best result using both: - the policy document we sent you on your commencement date - the most current version of the policy document for your policy. ### Enhancements will only apply to new illnesses, injuries or conditions A policy enhancement won't apply if you're claiming for an illness, injury or condition that showed signs or symptoms, or was diagnosed before the enhancement came into effect. ### We'll let you know when enhancements come into effect We'll let you know when we make any enhancements to your policy or cover, and when they'll take effect. ### We list our policy enhancements on our website We list all our policy enhancements on our website: www.chubblife.co.nz/policy-enhancements ### Not all enhancements will apply to your policy Policy enhancements don't apply to your policy if they: - relate to a cover or benefit that you don't have - are new optional benefits. You can apply to us for enhancements that are new optional benefits. We may need to assess your application and extra premiums may apply. Any underwriting exclusions, limits or other special terms that apply to your policy will also apply to any enhancements we make. ## Suspension of Cover You can apply to put your policy on hold with the Suspension of Cover if your policy has been in force for at least 3 months. While your policy is on hold, you can't make any claims and you don't pay any premiums. We recommend you contact our team to discuss your options before you apply to suspend your policy. ### When you can suspend your policy You can suspend your policy if any of the following apply. - You're having significant financial difficulties - You're on employer-approved leave for at least 3 months in a row - You're living or travelling outside New Zealand for at least 3 months in a row ### You can suspend your policy if you're having significant financial difficulties You can apply to suspend your policy for 6 months if you're having significant financial difficulties. ### You can suspend your policy for the time you're on employer-approved leave If you're on employer-approved leave for at least 3 months in a row, you can apply to suspend your policy for the lesser of: - the time you're on leave - 12 months. Employer-approved leave can include: - leave without pay - sabbatical leave - parental leave. ### You can suspend your policy for the time you're overseas If you're living or travelling outside New Zealand for more than 3 months in a row, you can apply to suspend your policy for the lesser of: - the time you're living or travelling outside New Zealand - 12 months. ### When we'll suspend your policy If we approve your application to suspend your policy, you'll stop paying premiums from the later of: - the day you begin employer-approved leave - the day you leave New Zealand - your next premium due date. We won't backdate suspensions or apply them retrospectively. ### You can't make any claims if we've suspended your policy You can't make any claim while we're suspending your policy. We also won't cover you or any life assured for any illness, injury or condition that showed signs or symptoms, or was diagnosed, while we've suspended your policy. ### You can suspend your policy once every 12 months You can only use the Suspension of Cover if it's been at least 12 months since you last used it. ### You can only suspend your policy or get free cover for the life assured for up to 24 months You can only suspend your policy under the Suspension of Cover, for 24 months in total over the life of this policy. ### You must pay any overdue premiums If you have any overdue premiums before you suspend your policy, you'll need to pay them once the Suspension of Cover ends. If you don't, we may cancel your policy. # Understanding what you pay This section explains what you pay for this policy and what happens if you don't pay. ## You pay protection premiums and a policy fee You pay protection premiums for each cover in this policy. You also pay us a policy fee for managing your policy. Your total premium is your protection premiums plus your policy fee. ### Your policy schedule shows how often you pay Your policy schedule shows how often you pay your total premium, how often we review your premiums, and when you'll need to make your first payment. ### We'll write to you each year to confirm how much you'll pay At least 28 days before each anniversary date, we'll write to you to confirm the total premium you'll pay for the covers and benefits we're providing for the next year. ### The premiums you pay can change We base your protection premiums on the covers you hold and the details of the life assured. Your protection premiums can change when: - the life assured gets older - you change the premium review period for your cover - you change your cover - your cover sum insured changes because of inflation - we change our protection premium rates - there is a change to any discounts - relevant laws change. ### Your premiums change as the life assured gets older Your premium review period determines how often we recalculate your protection premiums for age-related changes. Each cover may have a different review period. Your policy schedule shows the premium review period for each cover. ### Changes to your cover can change your premium Changing your cover may change how much you'll pay in protection premiums. ### Changes to your sum insured due to inflation can change your premium If your most recent document confirms your cover's benefit type as CPI linked then your sums insured will be adjusted by the inflation rate, and your protection premiums for those covers will increase accordingly. ### Changes to protection premium rates can change your premium Changes in our protection premium rates, including changes due to enhancements to this product, can change your protection premiums. ### What it means if we guarantee or don't guarantee your premium We guarantee the protection premium rates for some covers. Your policy schedule or endorsement schedule will confirm if the protection premium rates for your covers are guaranteed or not. If we guarantee a rate, your protection premium rate can't change until the end of your premium review period, unless there's any change to any discounts applied to your policy. If we don't guarantee a cover's protection premium rate, it can change. We'll apply any change on your policy's next anniversary date. ### Changes to any discounts can change your premium If you or the life assured under this policy qualifies for a discount, any changes to your cover or policy that impacts on the qualifying criteria for the discount may cause it to reduce or be removed. Any changes to the discount will change your protection premium rates and protection premium. ### Changes to relevant laws can change your premium We may change your protection premium if any laws or regulations change taxes or charges related to this insurance. ### We'll give you 28 days' notice before we change your protection premiums We'll tell you about any changes to your premiums in writing, at least 28 days before the changes take effect. ### We may change the policy fee We may change your policy fee. If we do make a change, we'll tell you what the change is, and the change will apply from the next anniversary date. ## You must continue to pay your premiums To keep getting cover under this policy, you must continue to pay your total premium. If you don't pay your total premium on the day it's due, we'll let you know that your premiums are overdue. ### We can take any overdue premiums when your total premium is next due While your policy is still in force, we may take any overdue premiums on the next day your total premium is due, as well as anything else that's due then. ### If you miss a payment, we can cancel your policy after 31 days If you don't pay the overdue premiums within the 31 days after your premium due date, we can cancel your policy and immediately stop your cover. We'll write to let you know we've cancelled your policy. If we cancel your policy, you may be able to reinstate it. To apply to reinstate your policy, contact us to confirm what you need to give us. We can choose to either accept or decline your application based on the information you and the lives assured give us. ### If you make a claim, we'll take any money you owe us from your claim payment If you have overdue premiums and you make a claim, we'll take the overdue amount from our claim payment to you. # Changing or adding to your policy This section explains how you can change or add to your policy to suit your needs. ## Your policy is flexible Your Life & Living Insurance policy is a flexible way to protect your future. It can adapt to life changes and continue to provide valuable cover. You can tailor your policy to meet your needs with a combination of covers. You can also change parts of this policy without replacing the whole policy. ## Write to us to change or add to your policy You can write to us to request a change to your cover at any time. We recommend you contact us to discuss your options, or get advice from your adviser if you have one, before you change your cover. We'll let you know if we need more information and if we need to assess the change. All policy owners must give authorisation to change the policy. ### We may need to assess the changes you want to make We need to assess any requests to: - add new covers or benefits - change existing covers or benefits - increase amounts that we cover - insure new lives. We don't need to assess changes that decrease or remove cover or benefits. ### We'll confirm when we've made the changes If we approve a change, we'll send you an endorsement schedule or confirmation letter with details of the change. ### Keep a record of changes to your cover Keep your endorsement schedules and confirmation letters with this document so you always have an accurate record of changes you've made to your policy. ### Changing your cover may change your premiums Changing your cover may change how much you'll pay in protection premiums. We'll tell you what the new protection premiums are and the date they will be effective from. ## Your sum insured can increase in line with inflation If you've chosen to have any of the sums insured adjusted for inflation, we'll increase them in line with the inflation rate on each anniversary date. Your protection premiums for those covers will increase accordingly. If you're getting a monthly claim payment, we'll keep increasing the sum insured on each anniversary date in line with the inflation rate. Contact us if you don't want to increase any of your sums insured for a particular year. We won't change the sums insured if the inflation rate is negative. Your policy schedule shows the covers you chose to increase for inflation. ## You can change who owns this policy To change who owns this policy, download and complete a Memorandum of Transfer form from our website: www.chubblife.co.nz/documents All current and new policy owners must complete and sign the form. We'll write to you to confirm the change once we've received and processed the correctly completed Memorandum of Transfer. ## What happens to this policy if you die If you're the only policy owner, and you're an individual person, this policy will pass to your estate if you die. If you own this policy with one or more people, it means you own it with them jointly. If you or one of the other people die, this policy passes to the surviving owners. # Cancelling this policy This section explains how to cancel this policy, and when your cover will end once you cancel. ## You can cancel this policy at any time You can cancel this policy at any time. We recommend you contact us to discuss your options, or get advice from your adviser if you have one, before you cancel this policy. ### Notify us to cancel your policy You'll need to notify us if you want to cancel this policy, and the cancellation needs to be authorised by all the policy owners. ## We'll confirm with you when your cover ends Once we get your authorised cancellation, we'll write to you to confirm when your policy and cover will end. ### When your policy ends will depend on how often you pay your premiums When your policy and cover ends after we get your authorised cancellation depends on how often you pay your total premium. ### If you pay your premiums every month, or more often If you pay your premiums every month, or more often, your policy and cover will end on the next day your premiums are due. We must get your authorised cancellation at least 3 business days before that day. We won't refund any premiums you paid for cover we've already provided. A business day is a day that we're open for business. ### If you pay your premiums every year or half-year If you pay your premiums every year or half-year, your policy and cover will end on the next monthly anniversary of your policy commencement date. We'll refund any part of a premium already paid for this policy which provides cover for the period after that date. For example, if you pay 6 months of premiums on 1 January, we'll cover you until 30 June. If you cancel on 15 February, we'll keep covering you until 1 March. Then we'll refund 4 months' worth of premiums for the cover you didn't use. ## We'll refund your premiums if you cancel within 30 days of your policy starting If we get your authorised cancellation within 30 days of your policy commencement date, we'll cancel the policy and refund your premiums. We won't refund your premiums if you've already made a claim. If we get your authorised cancellation more than 30 days after your policy commencement date, we won't refund any premiums you paid for cover we've already provided. # Defining words and phrases This section provides our definitions of the words and phrases that appear in this policy document in italics. Some of these definitions may not be applicable to the cover you hold. ## Accident A violent, external and visible event that results in physical injury to the life assured. ## Activities of daily living The activities of daily living are: - bathing and showering - dressing and undressing - eating and drinking - using a toilet for hygiene purposes - moving from place to place by walking, wheelchair or with the help of a walking aid. ## Anniversary date The anniversary date is the anniversary of the policy commencement date. ## Commencement date This policy's commencement date is the day this policy came into force. The policy schedule shows the commencement date. The commencement date for any cover or optional benefit that you add to this policy is the date we confirmed the added cover or optional benefit. ## Cover term A cover term is the length of time we provide each cover for. You can find your cover term on the most recent document confirming the details of your cover. ## Dependant A life assured's: - spouse - civil union partner - de facto partner - child by birth, adoption, or legal permanent guardianship who's living with the life assured at the time of claim. ## Endorsement schedule An endorsement schedule is a document that we send to you that confirms changes to your policy. ## Fixed-term employment Fixed-term employment has the meaning given in the Employment Relations Act 2000 (as amended or re-enacted). As at January 2020, it means employment the life assured and the employer agree will end on one of the following: - an agreed date, or at the end of an agreed period - when a specific event happens - when a specific project finishes. ## Full-time care Full-time care is the active, day-to-day care a person needs because they can't safely take care of themselves without supervision. ## Full-time employment Full-time employment is employment by a single employer for at least 25 hours a week. ## Gainful occupation A life assured has gainful occupation if they are: - an employee who's working for salary, wages, commission or other payment - working in a way that can make income for themselves, a business or any professional practice. ## Illness A sickness or disorder that a life assured suffers and that is not caused by an accident. ## Inflation rate The inflation rate is the consumers price index (all groups) rate issued by the government statistician for each year ending 30 September. If the consumers price index changes or stops, we'll choose another suitable measurement of changes in consumer prices. ## Injury A disorder or physical harm that a life assured suffers and that is caused by an accident. ## Medical practitioner A medical practitioner is someone that we approve who is medically qualified and properly registered in at least one of the following. - New Zealand - Australia - another country that has qualification and registration requirements that we consider to be the same as or better than those in New Zealand. ## Monthly income Monthly income means income calculated each month, before the deduction of income tax. Monthly income is based on the income the life assured earns by working and includes: - salary - wages - packaged fringe benefits - bonuses - overtime payments - director's fees - allowances - commissions - superannuation contributions - KiwiSaver contributions. ### If the life assured is a business owner or self-employed If the life assured is a business owner or self-employed, monthly income also includes their share of net income of the business based on their ownership or role (calculated after the deduction of all business expenses, before tax). For a business owner, the monthly income is likely to be different to what they received from the business in the form of dividends, distributions, and/or drawings. ### Monthly income does not include unearned income Monthly income does not include unearned income, such as: - profits from investments - interest - rental income from third parties - profits from selling assets - royalties. ## Occupation class An occupation class is a grouping of jobs that have similar risks. We put each life assured into an occupation class. You can find each life assured's occupation class on the most recent document confirming the details of your cover. ## Original sum insured The original sum insured is the lesser of: - the sum insured on the commencement date plus any increases in the sum insured that we assessed based on the life assured's health - the sum insured on the most recent endorsement schedule or policy anniversary overview. ## Other income Other income includes any payments, entitlements or benefits you or the life assured can or may be able to get because of the illness or injury that's causing the life assured's disability. This includes payments from: - the Accident Compensation Corporation (ACC), or any other compulsory insurance scheme, for loss of income. The life assured must try to get any entitlement they can, to the best of their ability - any other insurer - a superannuation fund. Other income does not include: - what we pay you under this policy - payments for sick leave - welfare payments. ## Payment term The payment term is the maximum length of time we'll pay any continuing claim for one or more benefits under the same cover, as adjusted under this policy. You can find your payment term on the most recent document confirming the details of your cover. ## Policy schedule A policy schedule is the document we send you when your policy starts that confirms the details of your cover at that time. ## Policy anniversary overview A policy anniversary overview is the document we send you before each policy anniversary date that confirms the details of your cover for the next policy year. ## Policy year A policy year is 1 full year of holding your policy, for example: - the commencement date to the first anniversary date - any anniversary date to the following anniversary date. ## Pre-disability income If a life assured isn't self-employed, their pre-disability income is the greater of: - the highest average monthly income earned over any 12 consecutive months in the 3 years immediately before the life assured became disabled - the monthly income the life assured earned immediately before the date they became disabled. - If a life assured is self-employed, their pre-disability income is the highest average monthly income earned over any 12 consecutive months in the 3 years immediately before they became disabled. ## Pre-disability occupation A pre-disability occupation is the most recent occupation the life assured worked at as their main source of income before they suffered an illness or injury. ## Self-employment or self-employed A life assured is self-employed if they work at least 20 hours a week for remuneration for either: - a company that they, or their immediate family, have any control over - themselves as a self-employed contractor, sole trader, or partner in a partnership. ## Specialist A specialist is any health provider who's acceptable to us and either a Member or Fellow of an appropriately recognised specialist college. A specialist must have at least one of the following: - A Medical Council of New Zealand vocational registration in their field - A Medical Board of Australia-approved registration in their field - Suitable medical training and experience and registration that we approve in another country. ## Sum insured A sum insured is the amount we're insuring a life assured for under a cover, as adjusted under this policy. You can find the life assured's sum insured for a cover on the most recent document confirming the details of that cover. If you hold any accelerated cover, the sum insured for any Life Cover or accelerated covers may change when we pay an accelerated cover claim. If we pay a cover's sum insured in advance or in part, we may reduce the remaining sum insured by the amount we pay. ## Underwritten sum insured The underwritten sum insured is the sum insured, minus any increases because of the Life Events Benefit, or Optional Guaranteed Insurability if included in your policy. ## Waiting period A waiting period is the time that must pass before we can pay a benefit on your cover. You can find the waiting period on the most recent document confirming the details of your cover. ## Whole person function Whole person function is a way of assessing how much of a person's body is working, using the American Medical Association's book, 'Guides to the Evaluation of Permanent Impairment' 6th edition or any later editions.