Sovereign TotalCareMax Keypoints

Calculators

Needs Calculators
Quote Calculators
Policy Wording

Policy Wording

TotalCareMax Umbrella
Life Insurance
Living Assurance Comprehensive Accelerated
Living Assurance Comprehensive Standalone
Living Assurance Essential Accelerated
Living Assurance Essential Standalone
Total Permanent Disablement Accelerated
Total Permanent Disablement Standalone
Disability Income Agreed Value
Disability Income Protection Indemnity
Disability Income Protection Essential
Start Up Income Protection
Family Protection
Accident Insurance
Waiver of Premium

Full Application
Short Form Application
Start Up Application

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Benefits Available

All TotalCareMax — Personal benefits:

Accidental Death
Disability Income Protection
Essential Disability Income
Family Protection*
Life Cover
Living Assurance
Total Permanent Disablement
Waiver of Premium

(* This is Life Insurance paid monthly for a specified period. Contact us for further information and quotes.)

Benefit Options

Level
CPI linked

Please note that for accelerated Total Permanent Disablement and Living Assurance benefits, the indexation option and premium type selected under the Life Cover benefit.

Cash Value

Nil

Charges

$5.46 per monthly policy fee. (This increases with the CPI rate each year).

Entry Ages

Minimum:
Life Cover: Age 10
All other benefits: Age 16

Maximum:
Accidental Death: Age 60 (Individual consideration from age 60)
Disability Income Protection: 55 (Trades or Labour occupations). Age 60 (Professional or Clerical)
Essential Disability Income:55 (Trades or Labour occupations). Age 60 (Professional or Clerical)
Life Cover: Age 70 (Individual consideration from age 70)
Living Assurance: Age 70 (Individual consideration from age 70)
Total Permanent Disablement: 55 (Trades or Labour occupations). Age 60 (Professional or Clerical)
Waiver of Premium: 55 (Trades or Labour occupations). Age 60 (Professional or Clerical,)

Lapses

If 3 months premiums missed.

Lives Assured

Multiple lives available.

Method of Payment

Direct Debit
Cash
Credit Card

Notes: Cash option only available for annual premium. Preferred payment.

Minimum Premium Contribution

$15.00 per month.

Premium Frequency

Monthly
Weekly (direct debit only)
Fortnightly (direct debit only)
Quarterly
Annual (5% discount applies for annual premiums)

Premium Structure

Premiums can be structured in the following ways:

Rate for Age
Over 10 years
To age 65: Life Cover — Personal, Total Permanent Disablement, Living Assurance and Disability Income Protection benefits only)
To age 80: Life Cover — Personal benefit only.

Note: Only quotes for Rate for Age are provided via this site. Contact us if you would like quotes for other terms.

Recalculations of Premium

Where Rate for Age has been selected, your premium will be recalculated at each anniversary date.

Where a premium structure of 10 years, or to age 65 and to age 80 is chosen, the premium will be calculated over that period. Sovereign guarantees this premium for Life Cover — Personal, Family Protection and Accidental Death benefits. For all other benefits the premium may change at any anniversary date if Sovereign changes its underlying premium rates. In that case, Sovereign will recalculate the premium to apply for the remainder of the period. At the end of any recalculated 10 year period, the premium type will convert to Rate for Age.

If the cover is not indexed to CPI the premium will be level for the period chosen (unless there are changes to the underlying premium rates).

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