Default Cover definition
Default Cover means, in respect of an Eligible Person of an Employer Plan, the Cover detennined by the relevant Insurance Formula up to the maximum of the AAL, or as otherwise determined under the relevant Participation Certificate.
Default Cover means the Basic Level of Cover for Death, Terminal Illness and / or Total and Permanent Disablement Benefits provided without Evidence of Insurability under the First Schedule for Category D Insured Members of the MKBS Plan from 1 April 2009.
Default Cover means the cover you receive when you join the Fund (and meet eligibility requirements) that is not subject to underwriting (medical assessment) by the “Insurer”.
Examples of Default Cover in a sentence
The Rate of Premium for Default Cover of one unit of death, Terminal Illness and Total and Permanent Disablement cover is set out in the table below.