Exclusions from Cover
Consumer Insurance Contracts Act 2019
Death Benefit Plus Policy Exclusions
Death Benefit Plus is a whole of life insurance policy. Your attention is expressly drawn to the exclusions to liability set out in Section 7 of the Death Benefit Plus Whole of Life Policy Conditions, which you should review prior to entering into this policy. We suggest you read Section 7 in conjunction with the full Policy Conditions document which you can find here.
We have summarised below for your attention some of the main exclusions contained in the Death Benefit Plus policy for your convenience. If any disagreement arises between the sections below and the Policy Conditions, the Policy Conditions will apply.
What is a Policy Exclusion?
A policy exclusion in a life insurance policy is a policy term that reduces the cover of the policy for some types of risks. It will describe a loss or a risk that is not covered in certain circumstances. Below is a summary of some of the main exclusions we want you to be aware of and understand for the Death Benefit Plus insurance policy.
Exclusion on cover during the first two years of the policy
For the first two years of this policy, cover is limited to accidental death cover only. This means a claim can only be made during the first two years, if death was caused by a travel accident. The definition of a travel accident is contained in section 1 of the Policy Conditions. Where it is the case that death was caused by a travel accident, the benefit under the policy is doubled.
In the event of a death during the first two years and where the cause does not meet the definition of a travel accident, then no benefit can be claimed. In this circumstance, a refund of any premiums paid will be made to your personal representatives.
There are also a number of standard life insurance exclusions that apply to travel accidents. The accident must not have been caused due to:
- the consumption of alcohol or drugs,
- by intentional self-inflicted injury,
- by suicide or,
- by taking part in an act which is criminal in nature.
Details of these exclusions are set out in section 1 of the policy conditions.
Some examples to help illustrate these exclusions are as follow:
You die in a car accident in the first 2 years - Covered. A double benefit is paid
You drink drive & die in a car accident in first 2 years - Not covered. Premiums are refunded
You die from a virus or cancer in the first 2 years - Not covered. Premiums are refunded
You die from a virus or cancer after 2 years - Covered. Benefit is paid
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