Common use of Key Policy Terms Clause in Contracts

Key Policy Terms. Cover: A benefit payable upon death of an Investor or, in the case of joint Investors, the death of the last surviving Investor, in each case during the Term of Insurance (subject to exclusions). Benefit (the Sum Insured): The Insurance Policy gives protection of 40% of the Subscription Value up to £500,000 (i.e. a maximum amount of £200,000). If an Investor Withdraws funds from the Service or makes a Redemption during the term of cover, the amount of cover under the Insurance Policy will be reduced pro-rata. The maximum Sum Insured of £200,000 applies in aggregate across all of the Investor's Subscriptions in relation to IEP Apex.