- the type of cover,
- the amount of cover,
- the date your cover starts (the Acceptance Date),
- the date your first premium is deducted (the Commencement Date).
- the date you cancel your Policy, or
- the date we cancel your Policy, due to non-payment of premiums.
Any increased, new, or decreased cover will commence when you receive notification, in the form of an updated Policy Schedule.
Premium rates are not guaranteed and we may change the amount we charge for your cover under your Policy at any time, however only if we change the premium rate applying to all We Protect Policy Owners or all We Protect Policy Owners in the same product group. If we make a change to your premium rate we’ll send you written notification at least 90 days prior to the effective date of the change.
It’s important you consider your protection needs before you do this, as you’ll need to reapply for cover if you change your mind at a later date.
GST is not charged on your premiums. Generally no tax is payable on benefits paid under this Policy and your premiums will not be tax deductible. Any tax information given is of a general nature only and is based on current tax laws and our interpretation of them. We recommend you consult a professional taxation adviser for information on your own tax situation, or if you’re purchasing this cover for business purchases.