> _Markdown transcription of Momentum Life Funeral Insurance Momentum Life Funeral Insurance policy wording, effective 2020-09-21. Source: https://nzcoverdirect.co.nz/media/qsxlz4ja/nzcd-funeral-insurance-policy-wording-mlf2.pdf_ --- # NZ Cover Direct Funeral Insurance ## Policy Wording • Issue 2: 21 Sept 2020 If you entered into a Momentum Life Funeral Policy before 28 February 2018, the policy is now going to be rebranded NZ Cover Direct. We have changed some contact details however everything else will remain the same. --- # Contents - Explaining this Policy Wording — 2 - Funeral Insurance — 4 - Household Expenses Insurance (optional benefit) — 7 - Accidental Death Insurance (optional benefit) — 9 - Accidental Serious Injury Insurance (optional benefit) — 11 - General information — 16 - How this Policy works — 16 - What you have to pay — 16 - Premium Pause — 17 - Additional insurance benefits — 17 - Changing your cover — 17 - Cancelling your Policy — 18 - How to make a claim — 19 - Claims payment — 19 - Goods & services tax — 20 - Misstatement of age — 20 - Privacy — 20 - Disputes — 21 - Statutory fund — 22 - Governing law — 22 - Worldwide cover — 22 - Financial strength rating — 23 - Definitions — 24 - Nominations of Beneficiaries — 29 --- # Explaining this Policy Wording This is your insurance Policy document. It contains important information, and you need to read the whole of the Policy to help you understand how your insurance works. Some covers under this Policy are optional. Please look at your Policy Schedule to see: - which optional covers apply; - the amount or frequency of Benefit that applies for cover; and - who is a Life Insured. Please keep this Policy safe. You must consider the following risks before taking out this cover: - The total premiums you pay to us could exceed the Benefit we pay to you; - The Benefit amount you chose may not cover the cost of a Life Insured's funeral; - If you fail to pay your premiums we can cancel this Policy; - This Policy by itself may not suit your insurance needs or those of a Life Insured. You are responsible for finding out about the full range of options available; and - This Policy is not a savings or investment plan. You have 30 days from the First Premium Payment Date to decide whether you want to keep your Policy. You can cancel your Policy during this time if no claim is made and receive a full refund of premiums paid. Please notify NZ Cover Direct of your decision to cancel this Policy by writing to: NZ Cover Direct PO Box 90382 Victoria St West Auckland 1142 New Zealand. Or by calling NZ Cover Direct on 0800 894 504. All amounts stated are in New Zealand dollars. Fidelity Life is the insurer of NZ Cover Direct Funeral Insurance. This Policy is a legally binding agreement between you and Fidelity Life. The words in bold have fixed meanings which are defined on pages 24 - 27. You need to understand the terms in bold to understand your insurance. NZ Cover Direct Life Insurance was distributed by Momentum Life. Please note. Momentum Life is not the insurer of NZ Cover Direct Funeral Insurance and does not have any liability for the assessment or payment of claims under a NZ Cover Direct Funeral Insurance Policy. This is the responsibility of Fidelity Life as the insurer. In this Policy "we", "us" and "our" refers to Fidelity Life, the insurer of NZ Cover Direct Funeral Insurance. "You" or "your" refers to the Policy Owner of the NZ Cover Direct Funeral Insurance Policy. --- # Funeral Insurance ## What is Funeral Insurance? Funeral Insurance provides a lump sum payment in the event of the Life Insured's death. ## Who can apply for Funeral Insurance? This Policy can insure: - you; and/or - your Partner and/or your Relatives. The people insured by this Policy are each a Life Insured. A Life Insured must be a New Zealander aged between 16 and 75 years of age at the Cover Start Date. ## What Benefit can you apply for? The minimum Funeral Insurance Benefit you can apply for is $3,000. The maximum Funeral Insurance Benefit you can apply for is $20,000. The Policy Schedule sets out the name and the Funeral Insurance Benefit for each Life Insured. ## When will we pay the Funeral Insurance Benefit? When a Life Insured dies, we will pay the Funeral Insurance Benefit. You are covered for Accidental Death only for the first 24 months. We will NOT pay the Funeral Insurance Benefit if the Life Insured dies within 24 months of the Cover Start Date, unless the Life Insured dies as a direct result of an Accident. If we do not pay a Benefit for this reason, we will pay you a benefit equal to all the premiums you have paid to us for that Life Insured since the Cover Start Date. ## Funeral Insurance - maximum Benefit The total Funeral Insurance Benefit payable for a Life Insured under this Policy cannot exceed $20,000. The total amount payable by us for each cover under this Policy cannot exceed the Benefit for a Life Insured for each cover set out in the Policy Schedule. ## When does my Funeral Insurance start? This Policy starts on the Acceptance Date. A Life Insured's cover starts on the Cover Start Date. If you increase or change cover after the Acceptance Date, we will send you a new Policy Schedule. Any increase or change takes effect from the Cover Start Date set out in the new Policy Schedule. ## When does my Funeral Insurance end? When a Life Insured's cover ends you will not be able to make a claim for any event that occurs after cover ends. This Policy will end upon the earliest of the following events: - The date you cancel your Policy; - The date we cancel your Policy due to non-payment of premiums; or - The date we pay the last Benefit for the last Life Insured on this Policy. Funeral Insurance cover under this Policy will end for a Life Insured on the earliest of the following events: - the date you remove that Life Insured from this Policy; or - the date we pay a Funeral Insurance or Accidental Death Insurance claim, or if the Life Insured has Household Expenses Insurance the date we make the final payment under that option. We will issue a new Policy Schedule if we have made a Funeral Insurance Benefit payment and there is a remaining Life Insured. When the Policy Owner dies, ownership of this Policy will transfer automatically to the Policy Owner's estate or personal representative. The death of the Policy Owner is the only situation where Policy Ownership can be transferred to another person. Providing the premiums for this Policy continue to be paid when due, cover for a Life Insured will continue under this Policy. ## What is not covered under Funeral Insurance? It is very important that you understand the circumstances below under which we will not pay a Funeral Insurance Benefit. - We will not pay any Benefit if this Policy has been cancelled. We will cancel your Policy if you do not pay your premium when it is due and it remains unpaid for more than one month. - You have to wait 24 months from the Cover Start Date until this Policy starts to provide the full cover. We will NOT pay the Funeral Insurance Benefit if a Life Insured dies within 24 months of the Cover Start Date for the cover/s unless that Life Insured dies as a direct result of an Accident. - The total amount payable by us for each cover under this Policy cannot exceed the Benefit for a Life Insured for each cover set out in the Policy Schedule. --- # Household Expenses Insurance ## What is Household Expenses Insurance? Household Expenses Insurance provides a monthly payment in the event of the Life Insured's death. This cover is optional and only available with Funeral Insurance. If you apply for Household Expenses Insurance and are accepted, the amount of the Life Insured's Household Expenses Insurance will be $500 per month for the number of months set out in your Policy Schedule. ## Who can apply for Household Expenses Insurance? This Policy can insure: - you; and/or - your Partner and/or your Relatives. The people insured by this Policy are each a Life Insured. A Life Insured must be a New Zealander aged between 16 and 75 years of age at the Cover Start Date. ## What Benefit can you apply for? Your Household Expenses Insurance Benefit can be between $2,000 ($500 per month, for 4 months) up to $6,000 ($500 per month, for 12 months). ## When will we pay the Household Expenses Insurance Benefit? If a Benefit is shown in the Policy Schedule under this cover for a Life Insured and the Life Insured dies, if we pay the Funeral Insurance Benefit, we will also pay Household Expenses Insurance Benefit. ## Household Expenses Insurance - maximum Benefit The Household Expenses Insurance Benefit payable for a Life Insured under this Policy cannot exceed the Funeral Insurance Benefit. The total maximum Benefit for Funeral Insurance and Household Expenses at any time for this Policy cannot exceed $20,000. ## When does my Household Expenses Insurance start? If your application for Household Expenses Insurance is accepted by us, the Life Insured's Household Expenses Insurance starts from the Cover Start Date shown in the Policy Schedule. ## When does my Household Expenses Insurance end? When a Life Insured's cover ends you will not be able to make a claim for any event that occurs to that Life Insured after cover ends. Household Expenses Insurance for a Life Insured will end upon the earliest of the following events: - The date you cancel your Policy; - The date you cancel this Household Expenses Insurance; - The date we cancel your Policy due to non-payment of premiums; - The date you remove that Life Insured from this Policy; - The date we pay the last Benefit for the last Life Insured on this Policy; - The date we make the final payment under this option; or - The date the Life Insured dies. ## What is not covered under Household Expenses Insurance? We will not pay any Benefit if this Policy has been cancelled. We will cancel your Policy if you do not pay your premium when it is due and it remains unpaid for more than one month. We will NOT pay the Household Expenses Insurance Benefit if a Life Insured dies within 24 months of the Cover Start Date for the cover unless the Life Insured dies as a direct result of an Accident. If we do not pay a Benefit for this reason, we will repay to you all the premiums you have paid to us for that Life Insured since the Cover Start Date. --- # Accidental Death Insurance ## What is Accidental Death Insurance? Accidental Death Insurance provides a lump sum payment in the event of the Accidental Death of a Life Insured. This cover is optional and only available with Funeral Insurance. If you apply for Accidental Death Insurance and are accepted, the amount of your Accidental Death Insurance Benefit will be shown on your Policy Schedule. ## Who can apply for Accidental Death Insurance? This Policy can insure: - you; and/or - your Partner and/or your Relatives. The people insured by this Policy are each a Life Insured. A Life Insured must be a New Zealander aged between 16 and 75 years of age at the Cover Start Date. ## What Benefit can you apply for? Your Accidental Death Insurance Benefit is equal to three times your chosen Funeral Insurance Benefit. ## When will we pay the Accidental Death Insurance Benefit? If a Life Insured suffers an Accidental Death while this Accidental Death Insurance is in force, we will pay the Accidental Death Insurance Benefit shown in the Policy Schedule for that Life Insured. ## Accidental Death Insurance - maximum Benefit The Accidental Death Insurance Benefit payable for a Life Insured under this Policy cannot exceed $60,000. ## When does my Accidental Death Insurance start? If your application for Accidental Death Insurance is accepted by us, your Accidental Death Insurance starts from the Cover Start Date shown in the Policy Schedule. ## When does my Accidental Death Insurance end? When a Life Insured's cover ends you will not be able to make a claim for any event that occurs to that Life Insured after cover ends. Accidental Death Insurance for a Life Insured will end upon the earliest of the following events: - The date you cancel your Policy; - The date you cancel this Accidental Death Insurance; - The date we cancel your Policy due to non-payment of premiums; - The date you remove that Life Insured from this Policy; - The date of payment of an Accidental Death Benefit; - The date we pay a death claim for the Life Insured; or - The date the Life Insured dies. ## What is not covered under Accidental Death Insurance? The Accidental Death Benefit is only paid if death occurs as a direct result of an Accident, and within 90 days of that Accident. We will not pay any Benefit if this Policy has been cancelled. We will cancel your Policy if you do not pay your premium when it is due and it remains unpaid for more than one month. --- # Accidental Serious Injury Insurance ## What is Accidental Serious Injury Insurance? Accidental Serious Injury Insurance provides a lump sum payment in the event of the Accidental Serious Injury of a Life Insured. This cover is optional and only available with Funeral Insurance. If you apply for Accidental Serious Injury Insurance and are accepted, the amount of the Life Insured's Accidental Serious Injury Benefit will be shown on your Policy Schedule. Accidental Serious Injury means any of the following injuries which occur as a direct result of, and within 12 months of, an Accident: - Blindness - Coma - Loss of Hearing - Loss of Speech - Loss of Use of Limbs - Major Burns - Major Head Trauma - Paralysis ## Who can apply for Accidental Serious Injury Insurance? This Policy can insure: - you; and/or - your Partner and/or your Relatives. The people insured by this Policy are each a Life Insured. A Life Insured must be a New Zealander aged between 16 and 70 years of age at the Cover Start Date. ## What Benefit can you apply for? Your Accidental Serious Injury Insurance Benefit is equal to two times your chosen Funeral Insurance Benefit. ## When will we pay the Accidental Serious Injury Insurance Benefit? If a Benefit is shown in the Policy Schedule under this cover for a Life Insured, - the Life Insured suffers an Accident; and - that Accident results in Accidental Serious Injury; and - the Life Insured survives at least 14 days from the date of the Accident, and - the Accidental Serious Injury occurs while this Policy is in force we will pay the Accidental Serious Injury Insurance Benefit set out in the Policy Schedule. ## Accidental Serious Injury Insurance - maximum Benefit The Accidental Serious Insurance Benefit payable for a Life Insured under this Policy cannot exceed $40,000. ## When does my Accidental Serious Injury Insurance start? If your application for Accidental Serious Injury Insurance is accepted by us, your Accidental Serious Injury Insurance starts from the Cover Start Date shown in the Policy Schedule. ## When does my Accidental Serious Injury Insurance end? When a Life Insured's cover ends you will not be able to make a claim for any event that occurs to that Life Insured after cover ends. Accidental Serious Injury Insurance for a Life Insured will end upon the earliest of the following events: - The date you cancel your Policy; - The date you cancel this Accidental Serious Injury Insurance; - The date we cancel your Policy due to non-payment of premiums; - The date you remove that Life Insured from this Policy; - The date of payment of an Accidental Serious Injury Benefit; - The date we pay a death claim for the Life Insured; - The date the Life Insured dies; or - The Policy Anniversary after a Life Insured's 75th birthday. ## What is not covered under Accidental Serious Injury Insurance? The Accidental Serious Injury Insurance Benefit is only paid if the Accidental Serious Injury occurs as a direct result of an Accident and within 12 months of that Accident. No benefit is payable if the Life Insured does not survive at least 14 days from the date of the Accident. We will not pay any Benefit if this Policy has been cancelled. We will cancel your Policy if you do not pay your premium when it is due and it remains unpaid for more than one month. --- # General Information ## How this cover works ### Policy Ownership Ownership of this Policy cannot be transferred to another entity or person. You can nominate a beneficiary/ies (see page 29). We will make all payments to the beneficiary/ies you have nominated. If you have not nominated a beneficiary/ies, payments will be made to you or to your estate. ## What you have to pay Your premium will be shown on your Policy Schedule. You must pay your premiums when due. You can choose to pay your premiums annually, monthly, fortnightly or weekly, at no additional cost to you. Your premium will be charged to your nominated credit card or bank or credit union account. You can change your nominated account at any time by calling NZ Cover Direct on 0800 894 504. Your premium rate will remain the same each year until the Life Insured reaches his or her 85th birthday, at which time premium payments will end, provided no increase is required because of a change in tax (including but not limited to Goods and Services Tax) or other legislation, or because our claims experience is materially different from expected. We will apply any increase to all Policies issued under the same offer made to you. If we make a change to the premium rates we will send you written notice at least 30 days before the effective date of the change. Depending on when we pay a claim for a Life Insured, you may pay more in premiums for that Life Insured than the Benefit for that Life Insured. If you choose to increase a Life Insured's Benefit, or add a new Benefit, the premium rates that apply will be the premium rates applying at the date the change is implemented. ## Premium Pause At any time 12 months after the Acceptance Date, we will allow you to pause premium payments for up to three months. We will waive the premiums that are payable during the premium pause and will not cancel this Policy. The premium pause will apply for a maximum of three months over the entire life of this Policy. If a Life Insured dies or suffers an Accidental Serious Injury during the premium pause period, this Policy will not pay any of the Benefits set out in the Policy Schedule, unless the Life Insured dies because of an Accident, in which case we will pay the Funeral Insurance Benefit for that Life Insured (but no other Benefits). Once the premium pause has ended and you have restarted paying your premiums, should a Life Insured die or suffer an Accidental Serious Injury which is covered by this Policy, we will provide the Benefits set out in the Policy Schedule. ## Additional Insurance Benefits NZ Cover Direct may contact you from time to time to offer you the opportunity to: - add additional covers to your Policy; or - increase the Benefit under your Policy; or - to add a new Life Insured. If your application is accepted, you will be sent an updated Policy Schedule outlining the details of the changes to your Policy. ## Changing your Cover From time to time your insurance needs or budget may change. You can decrease your cover level at any time by calling NZ Cover Direct on 0800 894 504. In the event that you want to increase a Life Insured's Benefit (up to the current Maximum Benefit) or add additional Relatives to your Policy, you can call NZ Cover Direct on 0800 894 504. Any increase to, or new Funeral Insurance or Household Expenses Insurance, or the addition of a Life Insured with Funeral Insurance or Household Expenses Insurance is subject to the first 24 month limitation, specified on page 4. The Maximum Benefit for NZ Cover Direct Funeral Insurance may change from time to time. Any change will not alter your Policy, but could change the amount of cover available for a Life Insured if you choose to increase cover in the future. We will not notify you when the Maximum Benefit changes. The level of Benefit or method of premium payment you select can limit the cover you can select: (a) A Life Insured's Household Expenses Insurance Benefit may not exceed their Funeral Insurance Benefit. (b) The Life Insured must be aged between: i. 16 and 75 at the Cover Start Date for Funeral Insurance, Household Expenses Insurance or Accidental Death Insurance; ii. 16 and 70 at the Cover Start Date for Accidental Serious Injury Insurance. Where any changes are made to this Policy we will issue you with a new Policy Schedule. ## Cancelling your Policy You can cancel your Policy at any time by writing to NZ Cover Direct and providing 30 days' notice. Write to NZ Cover Direct at PO Box 90382, Victoria St West, Auckland 1142, New Zealand. You can also call our Customer Service team on 0800 894 504 and we will guide you through the process. It is important you consider your insurance needs before you do this, as you will need to reapply for cover if you change your mind at a later date and you will lose the benefit of the premiums you have already paid. We will cancel your Policy if you don't pay your premium when it is due and it remains unpaid for more than one month. In this event, we will notify you in writing of our intention to cancel this Policy. If this Policy is cancelled and then reinstated, the Acceptance Date will be the date that cover is reinstated. ## How to make a claim We will only pay a claim if you have paid all premiums due and this Policy has not been cancelled. We will make all payments to the beneficiary/ies you have nominated. If you have not nominated a beneficiary/ies, payments will be made to you or to your estate. If you, your nominated beneficiary/ies, or your personal representative needs to make a claim under your Policy, please contact NZ Cover Direct: Phone: 0800 894 504 Email: claims@nzcoverdirect.co.nz Mail: Claims Manager, NZ Cover Direct PO Box 90382, Victoria St West, Auckland 1142, New Zealand. A claim form can be downloaded at nzcoverdirect.co.nz or if requested we will send one to the claimant. The claimant must supply us with sufficient proof of the claim (to our satisfaction) at his or her own expense. This may include: - a form completed by a Medical Practitioner (we will supply the form to the claimant); - any other medical or other information that we reasonably require, including any tests or medical results; and/or - the appropriate certification e.g. death certificate and/or a confirmed diagnosis of death/injury by a Medical Practitioner who is a specialist in the field. We reserve the right to require the Life Insured to undergo any further medical tests or, in the event of a Life Insured's death, to request any additional information. We will pay the costs of any further medical tests or additional information. ## Claims payment Valid claims will be paid in New Zealand dollars to the nominated beneficiary or beneficiaries (where there is a valid nomination of beneficiaries). Where no beneficiary has been nominated, claims will be paid to the Policy Owner or to the personal representative of the Policy Owner. ## Goods & services tax If the Accidental Serious Injury Insurance option is shown in the Policy Schedule, the premium payable for this option and the Benefit shown in the Policy Schedule will include Goods and Services Tax. ## Misstatement of age If the age of any Life Insured on which the premiums have been based has been understated when applying for that Life Insured's cover, then the Benefits payable under this Policy will be calculated according to the amount of Benefit that the premium would have purchased if based on the correct age of that Life Insured. If the age is overstated, we will refund the excess premiums paid. ## Privacy In this section 'we' refers to Fidelity Life and Momentum Life and 'you' refers to the Policy Owner. ### Privacy Act 1993 and The Health Information Privacy Code 1994 By applying for NZ Cover Direct Funeral Insurance you and each Life Insured consent to the following: We collect personal information about you and each Life Insured. Each person has the right of access to, and correction of, their own personal information. The personal information and any additional information obtained, (including medical and financial information if required) will be used by us and our officers to calculate, process and administer the insurance you apply for and for the purposes and promotion of insurance services to you. The information may also be used for statistical purposes provided you are not identified. We may collect further information at claim time if required. The information is securely held by us at Momentum Life, Level 3, 142 Broadway, Newmarket, Auckland and/or at Fidelity Life, 81 Carlton Gore Road, Newmarket, Auckland 1023 and/or at the Policy Administrator, BlueInc Services, Level 11, North Tower, 1-5 Railway Street, Chatswood, NSW 2067, Australia. The information may be disclosed between us, outside of Fidelity Life group of companies or Momentum Life where the disclosure is necessary for one or more purposes for which the personal information was collected, to agents, representatives, organisations, or contractors who provide services to us in connection with the marketing and administration of products or services, for the purpose of customer satisfaction surveys, and where required by law. If you or a Life Insured has any query about privacy, please contact NZ Cover Direct by one of the following: Phone: 0800 894 504 Email: customerservice@nzcoverdirect.co.nz Mail: Customer Service, NZ Cover Direct PO Box 90382, Victoria St West, Auckland 1142, New Zealand. ## Disputes If you need to make a complaint about this insurance or how it was sold to you, please let us know by one of the following methods: Phone: 0800 894 504 Email: customerservice@nzcoverdirect.co.nz Mail: Complaints, NZ Cover Direct PO Box 90382, Victoria St West, Auckland 1142, New Zealand. We will acknowledge receipt of your complaint within 2 business days and we will work with you to try and resolve your complaint. If additional information is required, we will request it in writing. If your complaint remains unresolved we will issue you with a letter of deadlock which you can send to the Insurance & Financial Services Ombudsman Scheme (IFSO Scheme) by one of the following methods: Phone: 0800 888 202 Email: info@ifso.nz Mail: PO Box 10-845, Wellington 6143 New Zealand Web: iombudsman.org.nz The IFSO Scheme is a free service to you and its independent assessment of your complaint is binding on Fidelity Life and Momentum Life as the distributor of this policy. ## Statutory fund Your Policy is referable to the Fidelity Life Statutory Fund Number 1. ## Governing law Your Policy, is governed by the laws of New Zealand. We may make reasonable changes to this Policy's terms to reflect any changes in tax or other legislation that affect it. We will notify you if we make changes under this clause. ## Worldwide cover Providing the Life Insured was a New Zealander when the cover was issued, they are covered under this Policy 24 hours a day regardless of geographical location at the time of death, an Accidental Serious Injury or a claim. ## Fidelity Life Assurance Company's Limited's Financial Strength Rating ### A- (Excellent) Fidelity Life has an A- (Excellent) financial strength rating given by A.M. Best. The A.M. Best financial strength rating relates to Fidelity Life's insurance and investment business. For the latest ratings visit www.ambest.com. The rating should not be read as a recommendation. The rating scale is: **SECURE** - A++ | A+ | Superior - A | A- | Excellent - B++ | B+ | Good **VULNERABLE** - B | B- | Fair - C++ | C+ | Marginal - C | C- | Weak - D | | Poor - E | | Under regulatory supervision - F | | In Liquidation - S | | Suspended --- # Definitions The words in bold have fixed meanings in this Policy. You need to understand the terms in bold to understand your insurance. The fixed meanings apply to all derivatives of the word in bold: **Acceptance Date** means the date your application is accepted and a Life Insured's cover begins as set out in the Policy Schedule. **Accident** means an event resulting in bodily injury that occurs while this Policy is in force, where the bodily injury is directly and solely caused by accidental, violent, external and visible means without any other contributing causes and where the injury is not self-inflicted. **Accidental Death** means death that occurs as a direct result of an Accident, and within 90 days of that Accident. **Accidental Serious Injury** means any of the following injuries which occur as a direct result of, and within 12 months of, an Accident: - Blindness - Coma - Loss of Hearing - Loss of Speech - Loss of Use of Limbs - Major Burns - Major Head Trauma - Paralysis **Benefit** means the amount shown in the Policy Schedule that we will pay when a Life Insured dies or suffers an Accidental Serious Injury that is covered by the terms of this Policy. **Blindness** means the complete and irrecoverable loss of sight in both eyes as measured by: (a) visual acuity less than 6/60 in both eyes after correction, or (b) a field of vision constricted to 20 degrees or less of arc. **Coma** means a state of unconsciousness with no reaction to external stimuli or internal needs, persisting continuously with the use of a life support system for at least 4 days, but excluding comas which are medically induced or resulting from alcohol or drug abuse. **Cover Start Date** means the date a cover starts for a Life Insured under this Policy as set out in the Policy Schedule. **Fidelity Life** means Fidelity Life Assurance Company Limited (FSP387861), 81 Carlton Gore Road, Newmarket, Auckland. **First Premium Payment Date** means the date on which your first premium payment is due to be paid for your cover and is set out in your Policy Schedule. **Life Insured** means the person/s who is/are accepted for cover under this Policy and who is/are named as such on the Policy Schedule. **Loss of Hearing** means complete and irrecoverable loss of hearing, both natural and assisted, from both ears as measured by an audiogram. **Loss of Speech** means damage to the larynx or its nerve supply, or to the speech centres of the brain, that results in the total and permanent loss of the ability to produce intelligible speech confirmed by a Medical Practitioner. **Loss of Use of Limbs** means total and irrecoverable loss of use or severance of any of the following: (a) both hands; (b) both feet; or (c) one hand and one foot. **Major Burns** means third degree burns to: (a) at least 20% of the body surface area, or (b) the whole of the face requiring surgical debridement and/or grafting, or (c) the whole of both hands requiring surgical debridement and/or grafting. **Major Head Trauma** means cerebral injury leading to neurological deficit causing at least 25% permanent impairment of whole person function (as defined in the American Medical Association publication 'Guides to the Evaluation of Permanent Impairment', 5th Edition). **Maximum Benefit** means our underwriting limits for each Benefit, which can change from time to time. (See page 4 for more information). **Medical Practitioner** means a legally qualified, practicing medical practitioner. The Medical Practitioner must not be you or the Life Insured or your or the Life Insured's Partner, Relative or business associate. **Momentum Life** means Momentum Life Limited (FSP472286), trading as Momentum Life, Level 3, 142 Broadway, Newmarket, Auckland 1023, New Zealand. **New Zealander** means a person who permanently resides in New Zealand and holds either a New Zealand or Australian citizenship or a New Zealand permanent residency visa, or has been in New Zealand continuously for 6 months or more on a valid temporary work visa. **NZ Cover Direct** is a brand owned by Fidelity Life. **Paralysis** means any of the following: (a) Diplegia which means the total and permanent loss of function of the corresponding parts of both sides of the body; (b) Hemiplegia which means the total and permanent loss of function of one side of the body; (c) Paraplegia which means the total and permanent loss of use of both legs; (d) Quadriplegia which means the total and permanent loss of use of both arms and both legs; or (e) Tetraplegia which means the total and permanent loss of use of both arms and both legs, together with loss of head movement, due to brain injury or spinal cord injury. **Partner** means a New Zealander who is the legal husband or wife, or someone living with you as your de-facto spouse, as noted on the Policy Schedule. **Policy** means the legal contract between you and Fidelity Life. This Policy is made up of the version of the Policy Wording current at the time you applied for the cover, your application, any future application accepted by us and the Policy Schedule. **Policy Anniversary** means the date 12 months from the First Premium Payment Date and every subsequent 12 months. **Policy Owner** means the person noted on the Policy Schedule as the Policy Owner who must be a natural person and a New Zealander. **Policy Schedule** means the schedule issued with this Policy and any replacement schedules that are issued to you throughout the life of your Policy. A new schedule will be issued when the details of the cover provided under your Policy change. A new schedule replaces any previous schedule issued from the date specified on the new schedule. **Relative** means a person who is a New Zealander and is: (a) The parent, grandparent, brother, sister, uncle, aunt, nephew, niece, natural or legally adopted child of the Policy Owner or of the Policy Owner's Partner; or (b) The Policy Owner's Partner. --- # Nominations of Beneficiaries ## Nomination of Beneficiaries Form This form collects personal information about the beneficiaries that you nominate on your policy. This information will be used to administer any claims relating to the death of a life insured. For information about our collection, use, disclosure and storage of personal information please see our privacy statement at https://nzcoverdirect.co.nz/privacy-policy/ Please read through these conditions of nomination before completing the form: - The beneficiaries nominated are the beneficiaries for every life insured on the policy - **Example:** Jade owns a policy which has both her and her partner John as the lives insured. Their children Ruby and Rata are their nominated beneficiaries. If John or Jade dies Ruby and Rata will receive the Benefits payable. Neither Jade nor John are beneficiaries so won't receive any Benefits. - The nominated beneficiaries only apply for Benefits payable upon the death of a life insured – they do not apply to terminal illness or accidental serious injury Benefits - Nominations can be made in the initial application or by subsequently completing this Nomination of Beneficiaries Form - Payment of a Benefit will be made based on the latest valid nomination received and processed by NZ Cover Direct at the time of death of the life insured. A new nomination form will remove the existing nominated beneficiaries. If you have nominated beneficiaries and you want to add more nominated beneficiaries, you need include the existing beneficiary - **Example:** Jade decides that as well as the existing nominated beneficiaries Ruby and Rata she wants to add her sister Susan as a nominated beneficiary. Jade needs to list Ruby, Rata and Susan on the new form. - If a nominated beneficiary is a minor when the payment is made, it will be made to the minor's legal guardian. - If a nominated beneficiary dies before the Policy Owner, the nomination of that beneficiary ends. If you have more than one beneficiary then the Benefit will be paid the remaining beneficiary/ies. If you only had one beneficiary the Benefit will be paid to the estate of the Policy Owner. - **Examples:** Sadly, Jade's sister and daughter Rata pass away as the result of a car accident. They are therefore automatically removed as nominated beneficiaries an this will leave Ruby as the only beneficiary and she would receive the Benefits in the case of John or Jade's death. If Ruby had also died in the car accident there would have been no nominated beneficiary in place. In the event of Jade's death the benefit would be paid to her estate. In the event of John's death the money will be paid to Jade because she is the policy owner and there are no nominated beneficiaries. Please return your completed form to NZ Cover Direct. You can: 1. Scan and email it (with your name and Policy Number as the subject line) to customerservice@nzcoverdirect.co.nz 2. Mail it to NZ Cover Direct, PO Box 90382, Victoria St West, Auckland 1142, New Zealand. --- This cover is insured by Fidelity Life Assurance Company Limited NZBN 9429040548623 and is subject to the terms and conditions as set out in the booklet which was current at the Acceptance Date. --- ## Questions? 0800 894 504 nzcoverdirect.co.nz 2590-MLF2 PW2 210921