Product Disclosure - Consumer rights and responsibilities



Conversion Option

At any time on or before the Final Conversion Date, the Owner has the right to exercise this option, provided the coverage is in force. This option permits the Owner, without further evidence of insurability and in exchange of this coverage, to purchase on the life of the Insured a permanent plan of life insurance issued by us at the date of exercise of the option and for the Sum Insured shown on the coverage data page or, if requested, such lesser amount satisfying the then minimum Sum Insured requirement of the converted policy. Any option under the converted policy that provides an increase in the Sum Insured is not permitted. Your signed application for this option and the payment of the first premium for the converted policy must be received by us by the Final Conversion Date. Your completed application must satisfy our then current administrative rules.


Rescission Rights

The owner has the right to return his term insurance policy within 10 days of receiving it. The policy will then be deemed void and any premiums paid will be refunded.

Over and above the 10-day right, the owner may return the policy if unsatisfied with the sales process, at any time within 6 months of the effective date (Total Customer Satisfaction (TCS) Guarantee). The policy will then be deemed void and any premiums paid will be refunded.

The refund under both the right to return and the TCS Guarantee will not apply if this policy has been issued in lieu of a previous policy or as a result of exercising an option contained in a previous policy.