International Life Insurance Plan Description

The purpose of the plan

The objective of the Global Life plan is to pay a lump sum to your beneficiaries if you die whilst your plan is in force.

The objective of the optional Accident benefit is to provide your family with an additional lump sum if you die as the result of an accident. If you survive an accident which results in the loss of, or loss of use of a part of your body, you can claim compensation for that loss. The amount of compensation you can claim is a percentage of your Accident benefit sum insured, according to the accident benefit compensation schedule.

Death or injury from certain types of illness or injury are not covered. Please view principal exclusions.

Your commitment

To make monthly or yearly payments for as long as you wish your cover to remain in force. You may continue your cover up to age 65.

To give us all the information we ask for when you apply for your plan and when you are claiming benefit. If you fail to give us all the information we have asked for, we may not pay your claim.

To tell us if you change your occupation, your country of residence, if you intend to participate in any hazardous pursuits.

Risk factors

• You won’t be covered if you stop paying premiums.
• The plan has no cash-in-value at any time

Assessing how much cover to buy

You select the features of the plan to make sure that the cover is right for you.

You decide:

• How much life insurance benefit you need
• If you require additional protection against death caused by an accident.

You make regular monthly or yearly payments to keep the cover in force.

The amount of life insurance benefit that we will pay

In the event of a claim, the maximum life insurance benefit we will pay you will be the lower of:

• The amount of benefit you have insured, or
• 20 times your salary at the time you take out the plan.

The maximum life insurance benefit we will pay is £600,000 or US$1,000,000 or €1,000,000.

Increasing your cover

You can apply to increase your cover at any time by completing a new application form. This will be subject to a fresh reassessment of your health, occupation and pastimes. Your payments will increase when your cover increases.

Medicals and other details we may need

Your application will include questions about your medical history, finances and other personal circumstances. It may be necessary for you to have a medical examination and additional medical tests. We will pay for any medical examination and/or tests that we specifically request once your Global Life plan has been in full force for a period of six months. The maximum amount we will reimburse you with is £325 or $520 or €520 depending upon the currency of your plan. Your occupation must be non-hazardous. If your occupation is not 100% office based, you must provide us with a full job description. Depending on the risk your occupation poses, we reserve the right to decline to offer cover, or to accept your application subject to an increased premium, and/or special terms.

Changing your country of residence, your occupation, or deciding to participate in hazardous activities

You must inform us if you change your country of residence, your occupation, or if you decide to participate in any hazardous activities. We may cancel cover or do any of the following:

1. Increase the premium
2. Restrict the cover

Making a claim

To substantiate a claim for Life insurance benefit, the following documents must be submitted to us as soon as reasonably possible, and no later than one year from the date of death:-

• An official death certificate confirming the cause of death and stating the date of death.
• An official document which confirms your date of birth.
• In the event of death due to an illness, a detailed medical report confirming the cause of death and full details of the onset and course of the disease.
• In the event of death due to an accident, a medical or official certificate stating the cause and circumstances of death.
• Proof of your income at the time you made your application.
• Any other documentation or proof we may reasonably require in order to assess your claim.
  

Global Life premiums

Your premium payments depend upon your age, occupation, pastimes, medical history and upon the level of the cover you choose. We will tell you of the actual cost you will pay once we have assessed your application and any additional medical evidence we ask you to provide.

Changes to your premium payments in the future

Your premium rates will increase as you get older.

The Global Life plan premiums are reviewed annually and may be increased in the future due to factors such as our claim costs and interest rates.

Taxation

Benefit will be paid free of tax at source. It is your, (or your beneficiaries) responsibility to declare payments to the appropriate tax authorities.

Termination of the plan

We may cancel cover:

• Where there is a significant change of risk such as changing to a higher risk occupation.
• If you move to a country we consider dangerous.
• If you participate in pastimes we consider dangerous.
• Upon non-payment of premium, although we may at our discretion re-instate cover if the premium is subsequently paid within 30 days.
• If you fail to observe the terms and conditions of the plan.

Terms and conditions

The terms, conditions and exclusions of the Global Life plan are set out in the Global Protection plan agreement.

Once your plan has commenced we may change the terms and conditions from any subsequent renewal date. We will inform you about any changes if we do.

Law

In the event of a dispute it shall be referred for Arbitration to take place in Paris, France. English Law shall apply.