When you purchase insurance from 1Lifedirect you will receive two documents from us: a Policy Book and a Policy Schedule. It is essential that you read and understand both of these documents as they form the basis of your contract with 1Lifedirect, along with the application you made for cover telephonically or online.
Your Policy ScheduleYour Policy Schedule contains the following information:
- Policyholder details
- Details of insurance policies you might have with other insurance companies
- Payment details, including the day of your first and future premium deductions, as well as your bank account details
- Details of the life assured
- Information on any loadings that might apply to your monthly premium
- Premium details, including information on your annual premium escalation and premium guarantees
- Your beneficiary details
Please check these details carefully and contact client services if you have corrections or questions.
Take careful note of the General Exclusions section in your Policy Schedule. A general exclusion means that if the life assured dies as a result of one of the events or conditions listed in the Policy Book, then 1Lifedirect has the right to reject the life insurance claim. These exclusions would apply to all 1Lifedirect policyholders. Similarly there is a Specific Exclusions section in the Policy Schedule. This section lists, in the Policy Schedule, exclusions specific to the life assured.
The Underwriting Declaration section in your Policy Schedule is also important. This section lists the answers you have given to a list of questions about your health, your family history and your insurance history. Run through the list of questions and the answers that you have given and make sure that all your answers are truthful and that you fully understand all the questions. If any of the answers that you have given are incorrect you might jeopardize a claim made by yourself or your family.
Lastly, refer to the Benefit Details section in your Policy Schedule. This section details the benefits and terms for each 1Lifedirect product that you have bought.
Your Policy BookThe 1Lifedirect Policy Book contains the following information:
- A dictionary of life insurance jargon
- General terms and conditions
- Product features and benefits (life insurance, disablement cover, dread disease cover)
Take the time you need to read through both your Policy Schedule and your Policy Book and do not hesitate to contact us if you have any queries