Examples of Cover Amount in a sentence
The Option Percentage is the percentage of the Forward Underwriting Cover Amount that may be exercised to buy cover upon the occurrence of certain ‘Business Events’, ‘Personal Events’ or ‘Other Events’.
If a claim is payable and there are unpaid Premiums on Your Plan, the unpaid Premiums will be deducted from the Cover Amount.
For information on who else may be involved when a claim is made, please refer to the section regarding entitlement to the Cover Amount.
Depending on the reason for the claim, the claim payment will be the same as, or a proportion of, the Cover Amount (subject to any maximum amount for the cover type).
The Business Safeguard Forward Underwriting Cover Amount is the amount of additional maximum cover, over the lifetime of the benefit, that You can apply to buy either under a new Priority Protection policy in the future, or to increase the coverage of anexisting Priority Protection policy.
The Forward Underwriting Cover Amount is the maximum cover, over the lifetime of the benefit, that You can apply to buy either under a new Priority Protection policy in the future, or to increase the coverage of an existing Priority Protection policy.
Any increase in Your Cover Amount, other than because of the Increasing Cover option, will be written on new business terms and conditions which are subject to benefit limits and may be different from Your existing Plan.
If We provide a Replacement Appliance or pay the Cover Amount for Accidental Loss, the cover under the Policy ends.
If YES, please provide the policy details in the schedule below.CommencementDate Insurer Type of Cover Amount of Cover*To be Replaced ‘Y’ or ‘N’ *For policies to be replaced, please attach a copy of the policy document or other proof of existing insurances and terms of acceptance.
Accidental Damage CoverIf the Insured Appliance suffers Accidental Damage during the Policy Term which occurs in Australia or New Zealand, We will at Our option Repair or replace theInsured Appliance or pay the Cover Amount, subject to the applicable Excess and other Policy terms.If the Insured Appliance is Repaired, that Repair may be carried out using new or used parts.