Partners Life, at its sole discretion, may allow you to stop paying the premium payable under your policy by approving a Premium Holiday or Policy Suspension if the life assured undergoes any of the following events:
Claim cause | Premium Holiday | Policy Suspension | Requirements: Claim form + |
Redundancy | Yes | Yes | Letter from employer |
Bankruptcy | Yes | Yes | Client details + company name |
Carer for child, spouse / partner | Yes | Yes | Letter from GP |
Death of spouse / child | Yes | Yes | Certified copy of death certificate |
Leave without pay | No | Yes | Letter from employer |
Overseas travel | No | Yes | Itinerary |
Parental Leave | No | Yes | Letter from employer |
Tertiary Education | No | Yes | Acceptance letter from institution |
Period of holiday / suspension | 6 Months | 12 Months | |
Do I have cover under my policy during the holiday / suspension? | Yes | No |
Please note:
- Premium cannot be suspended / stopped if the policy is in arrears.
- Premium Holiday may be backdated in certain circumstances.
- Premium Suspension cannot be backdated.