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Assured Security Plan Brochure by jhh17214


									H A N S A R D I N T E R N AT I O N A L L I M I T E D

 Assured Security Plan

           E    N   G   L   I   S   H
                  Assured Security Plan

Hansard International Limited
Hansard International Limited, based in the Isle of Man, is an established
offshore life assurance company authorised by the Isle of Man Government
Insurance and Pensions Authority. Most of Hansard International Limited’s
clients are expatriates, although local professionals around the world are
increasingly recognising the opportunities available to them through Hansard
International Limited.

Hansard International Limited and Tax
Hansard International Limited’s aim is to provide products which are tax
efficient and are flexible enough to cope with changes in circumstances.
Hansard International Limited currently pays no tax in the Isle of Man. This
enables clients’ fund links to grow virtually free of corporation, income and
capital gains tax. In addition, no Isle of Man tax is deducted when funds are
withdrawn from a Hansard International Limited contract.

The Isle of Man – A Secure Offshore
Financial Services Centre
The Isle of Man is one of the world’s leading offshore financial centres. The
Island has been granted Designated Territory status by the United Kingdom.
This means that the financial regulations in force meet standards similar to
those in the UK. In addition, the Isle of Man has the only statutory contract
holder compensation scheme of any offshore centre, incorporated in the Life
Assurance (Compensation of Policyholders) Regulations 1991. These
regulations provide for clients to receive up to 90% of the amounts due under
their contracts in the unlikely event that an Isle of Man life assurance company
were to become unable to meet its liabilities.

A Confidential Environment
Aside from the security provided by the regulatory framework, dealings in the
Isle of Man are conducted in an environment that respects the right of
individuals to carry on their business affairs in private. Unless otherwise
required by law, Hansard International Limited will not release details of
clients’ affairs to third parties including tax authorities.

                                    Page 1 of 12
                  Assured Security Plan

The Assured Security Plan for You and Your Family
Care for the present and planning for the future are the concerns of thoughtful
people everywhere.

How to guarantee immediate security for one’s family and provide a fund for
one’s needs in later life has become a greater challenge in modern times.
People around the world are much more aware of the inadequacies of state
benefits in the event of premature death or major illness. They are also aware of
the long-term impact of inflation – how prices continue to rise and the purchasing
power of currencies declines. In some places, the decline in purchasing power
is abrupt and radical; elsewhere it is gradual – but it occurs everywhere.

What are the Answers?
Long-term life assurance protection is a generally recognised means for
guaranteeing the future payment of a substantial sum in a chosen currency.

Prudent planners will select a currency which offers the prospect of reasonable
stability and a life assurance contract in which the fund links are invested with
the aim of providing long-term capital growth as a hedge against future

The Assured Security Plan has been designed to provide a high level of
immediate life assurance protection and a long-term investment programme
with an international perspective.

The Assured Security Plan also affords you the opportunity to choose the level
of protection which you require and the contribution period which you find most
convenient. Your peace of mind can be further increased if you choose any of
the additional protection benefits which are available.

Key Features of the Assured Security Plan
     Lifetime security for as few as ten annual contributions.

     Contributions in US Dollars or UK Sterling.

     Tax-free investment build-up through a regulated insurer.

     Opportunity to increase benefits through additional contributions.

     Benefits payable in the currency of your choice anywhere in the world.

     Investment management by internationally recognised award-winning

     Politically stable jurisdiction with effective and comprehensive contract
     holder protection legislation.

     A confidential environment.

     Discounted rates for non-smokers.

                                      Page 2 of 12
                   Assured Security Plan

Your Life Assurance Protection
The sum assured under your Assured Security Plan is payable, in your
selected currency, in the event of your death while the Plan is in full force. This
sum is guaranteed from the moment your first annual contribution has been
received by Hansard International Limited and your application has been

The level of sum assured will be determined by a number of factors. These
include your age, geographic location, occupation, habits and pastimes and, of
course, level of contribution.

Your contributions will be payable for ten years only, after which no further
payments will normally be required to maintain your life assurance benefit in
full for the rest of your life.

Any contribution(s) you decide to make after the ten annual amounts will be
applied to secure units in your selected fund links. When the value of these
units increases, the value of your Plan will increase by a corresponding
amount. The facility to increase your benefits in this way lends a dynamic
character to your Plan.

Your ten contributions need not take ten years to complete; they can be made
over as short a period of time as you choose. This ability to accelerate
contributions can enable you to complete your commitment at a time best
suited to your individual circumstances. This could be, say, to coincide with a
year in which you change residence, or when your business is to undergo
change, or simply when you reach a particular age.

Clients seeking a higher level of cover than that provided by the standard
version of the Assured Security Plan may care to choose the “Enhanced Cover
Option”. In this version the life cover will be significantly greater because the
contribution period is extended beyond ten years.

Joint Protection
Your Assured Security Plan can also be issued as a joint life plan. This facility
can provide valuable protection when a guaranteed capital sum is required in
the event of the death of either of two people. This is often a need in the event
of one spouse predeceasing the other.

This feature may also be particularly appropriate in circumstances such as
business partnerships, or for the holders of a joint mortgage or loan.

                                   Page 3 of 12
                 Assured Security Plan

Further Options
The Assured Security Plan can include a number of optional benefits in
addition to the basic sum assured. The conditions or events giving rise to these
benefits are shown in summary form on page 12. The actual applicable
definitions are given in the Plan Terms and Conditions. Some or all of these
optional benefits are not available to residents of certain territories.

Critical Illness Cover*
This option brings forward the payment of the basic sum assured upon the
confirmed diagnosis or occurrence of one of the following: heart attack,
coronary artery disease surgery, cancer (most forms), stroke, renal failure,
major organ transplant, or permanent and total disability. Please see the
Definitions shown on page 12 for more details.

This cover is subject to a maximum benefit of UK £250,000 or US $375,000.
Any critical illness first diagnosed or occurring within six months of issue of the
Plan will not be eligible to give rise to a claim under this benefit.

Accidental Death Benefit*
This option provides for an additional payment on the death of the life assured
when death occurs by accidental means while the Plan is in force.

The additional amount will be equal to the guaranteed sum assured, subject to
a maximum total accidental death benefit of UK £500,000 or US $750,000.

This benefit is not available to applicants aged 55 and over at commencement
and will cease on the Plan anniversary prior to the Planholder’s 65th birthday.

Common Carrier Benefit*
This option provides for an additional payment to be made following the life
assured’s death occurring as a result of an accident while travelling as a fare
paying passenger on public transport. The additional payment arising from this
benefit will be equal to the guaranteed sum assured, subject to a maximum
total common carrier benefit of UK £500,000 or US $750,000.

* These optional benefits are available on single life Plans only.

                                   Page 4 of 12
                  Assured Security Plan

Waiver of Contribution Benefit †
This option provides for your contributions to continue to be paid by Hansard
International Limited in the event of the life assured being continuously
prevented from working through illness or accident for a period in excess of six
months, provided the Plan is in force and has not been made paid-up at the
time the benefit is due to be paid.

This benefit is not available to applicants aged 50 or over at commencement.
The benefit will cease to be provided on the Plan anniversary preceding the
Planholder’s 60th birthday. Any disability occurring within six months of issue
of the Plan will not be deemed eligible to give rise to a claim under this benefit.

Your Assured Security Plan as an Investment
In addition to immediate financial protection, your Assured Security Plan
provides for the long-term accumulation of capital. This is achieved as a result
of contributions from the third year onwards being allocated to accumulator
units of Hansard International Limited fund links.

Accumulator units are allocated to your Plan from one of Hansard International
Limited’s investment fund links. Your fund link choice is governed by the
currency of your Plan. A table showing your choice of fund links is given below.

  FUND NAME                                        CURRENCY OF PLAN

                                                  Sterling          US Dollar

  UKS Managed                                        

  USD Managed                                                           

  Multi Asset Protector                                                

  UKS Cautious Managed                               

  USD Cautious Managed                                                  

  UKS Deposit                                        

  USD Deposit                                                           

† This optional benefit is available on single life Plans or on a life nominated
at outset on a joint life Plan.

                                   Page 5 of 12
                    Assured Security Plan

Your Questions Answered

Who is Eligible?
Your application for an Assured Security Plan will be considered if you are
aged at least 18 and under 65 and resident outside the United Kingdom,
France and the United States of America. Acceptance will be subject to receipt
of satisfactory underwriting evidence.

How Does the Plan Work?
From the outset the Hansard International Limited Assured Security Plan
provides you with a basic sum assured together with any chosen optional
benefits. After an initial period, accumulator units are credited to the
investment account of your Assured Security Plan. The cost of your life cover
and any optional benefits will be charged monthly to this account. The amount
charged will depend on your chosen benefits and age and can fall as the unit
value of your plan increases. You are only charged for the actual amount at
risk at any time.

Whenever the value of your units is higher than your basic sum assured, this
greater amount will become payable on death.

Units are purchased at the offer price and sold at the bid price; the differential
is 7% plus a rounding adjustment. Setting up and maintaining your Assured
Security Plan together with managing and safeguarding its investments is
supported by a once-only establishment charge deducted at outset. An annual
management charge, currently 1% of the fund value, and a monthly service
charge, are also applied. For information on charges please refer to the
Assured Security Plan Product Profile.

After the fourth contribution has been made, a special bonus allocation will be
added to purchase additional units in your selected fund links. Such bonus
allocations will continue to be made for as long as contributions are
maintained. Bonus units are earned at a rate of 0.75% per year of the existing
accumulator and bonus accumulator units and are allocated on each Plan
anniversary. This effectively reduces the annual management charge to only
0.25% per year.

                                  Page 6 of 12
                 Assured Security Plan

Why is my Plan Reviewed Regularly?
The cover provided by your Assured Security Plan is fully in place once your
Plan has been accepted. Provided you continue to make contributions, and
your investment account can continue to support the deductions made against
it, Hansard International Limited will maintain your benefits fully in force.

In costing the Assured Security Plan, we have to take into account future
expenses, inflation and mortality experience. When doing so, we have
assumed that an average annual unit price growth rate of 8%, net of
management charges, will be sufficient to meet the costs of maintaining your
Plan benefits in full. As the Plan progresses we will review it to ensure that the
level of contribution can continue to support the benefits in full. These reviews
will normally take place after five years and at Hansard International Limited’s
discretion thereafter to see if any change in the level of contribution is required.
You can rest assured, however, that we will not increase your level of
contribution because of any future deterioration in your own state of health.

What if I Stop my Payments?
Provided that you have made at least four of the agreed annual contributions,
you may choose not to make any more and have your Plan made “paid-up”. In
such circumstances the guaranteed life cover, critical illness cover, accidental
death benefit or common carrier benefit will be maintained in full while units
remain to support it. Any waiver of contribution benefit will cease immediately
when the contributions cease. The Plan will cease to have effect when no units

The duration of the life cover will depend on a combination of factors,
principally: the number of contributions received, the performance of the
underlying fund link and the contribution period chosen at outset. If your
Assured Security Plan is made paid up and you no longer require the life
assurance protection, you may cancel it. Your Plan will then essentially be an
investment in the Managed Fund Link(s) chosen.

If you cease payments before four agreed contributions have been made, your
Assured Security Plan will lapse without value and cease to have further effect.

Can I Encash my Plan?
Provided that you have made at least four of the agreed annual contributions,
your Plan can be surrendered for the full bid value of units which remain
attributed to it. In the early years, this value is likely to be considerably less
than the contributions made.

                                   Page 7 of 12
                  Assured Security Plan

How can I Start an Assured Security Plan?
You decide on the amount of protection you require or the sum you wish to set
aside as an agreed annual contribution, subject to a minimum of UK £750 or
US $1,200 and a minimum sum assured of UK £10,000 or US $15,000.
Complete the application form, which should be sent to your independent
financial advisor or to Hansard International Limited, together with a signed
copy of your personal Assured Security Plan illustration and a Telegraphic
Transfer Form or your cheque made payable direct to Hansard International
Limited. Alternative payment methods available include credit card or Direct
Debit Mandate (UK£ only).

On each Plan anniversary you may effect a further Plan subject to underwriting
criteria and charges applying at that time, and to a minimum annual
contribution of UK £375 or US $600. The establishment charge in respect of
each such Plan will be reduced by 50%, and the monthly service charge will
be fully waived, provided your existing Assured Security Plan(s) are still
receiving scheduled contributions.

How can I Follow my Investment?
Keeping track of your Assured Security Plan is simple. Reports will be sent on
an annual basis, but the easiest way to keep in touch with its progress is via a
secure Internet facility that enables you to view key information on it virtually
24 hours a day, 7 days a week.

What Happens if I Die?
The executor of your estate or your next of kin must supply Hansard
International Limited with legal proof of death, together with relevant
documentation to support the entitlement of the person making the claim.

Following receipt of such satisfactory proof, acceptance of the claim and
subject to probate or its equivalent, Hansard International Limited will pay the
full death benefit plus, where appropriate, any additional benefits which are
fully in force at the time.

A death claim arising from self-inflicted means (suicide) is not covered during
the first two years after the commencement date of the Plan.

A copy of the Assured Security Plan contract conditions is available on

                                  Page 8 of 12
                Assured Security Plan – Technical Guide

                                                                   calculated using the appropriate unit bid prices. If the
Description                                                        ten-year    contribution    version    is   selected     and
The Assured Security Plan, available from Hansard                  contributions are made after the ten-year period (other
International   Limited,     is    a     unit-linked    regular    than as a result of a Plan Review), the contract value
contribution whole-of-life plan providing a guaranteed             will be increased as a result of the units allocated after
sum assured payable on death and a number of other                 the first ten years.
optional protection benefits.

                                                                   Joint-life Contract
Eligibility                                                        If desired, the Plan can be issued showing two Lives
Clients must be at least 18 years of age and under age             Assured. In that case, the sum assured will become
65 at their next birthday and not resident in France, the          payable on the death of whichever Life Assured dies
United States of America or the United Kingdom at the              first or if the second death option is selected, the death
time of application. The Assured Security Plan can be              of the second of the lives assured to die.
written on a single life or joint-life first death and
second death basis.
                                                                   Optional Benefits
                                                                   In addition to the sum assured payable on a valid
Minimum Contributions                                              death claim, there are a number of optional protection
The minimum annual contribution is UK £750 or US                   benefits which can be added to a single-life Plan, as
$1,200, subject to a minimum sum assured of UK                     follows:
£10,000    or   US    $15,000.          Clients   may    make
                                                                   Critical Illness Cover, which pre-pays the sum
contributions in most freely convertible currencies, with
                                                                   assured (up to UK £250,000/US $375,000) following
the minimum contribution level being set at the date
                                                                   confirmed diagnosis or occurrence of any one of a
the Plan is put in force by converting the relevant
                                                                   stated number of critical illnesses or events. No benefit
currency limit to the chosen contract currency.
                                                                   is payable if the illness is diagnosed or the event
                                                                   occurs within 6 months of the commencement of this
Currencies                                                         cover.
The Assured Security Plan can be denominated in                    Accidental Death Benefit, which pays an additional
either UK Sterling or US Dollars.                                  lump sum equal to the basic sum assured or, if lower,
                                                                   UK £500,000/US $750,000 in the event of death as a

Term                                                               direct result of an accident.
                                                                   Common Carrier Benefit, which pays an additional
The Assured Security Plan is a whole of life Plan under
                                                                   lump sum equal to the basic sum assured or, if lower,
which the sum assured and any optional benefit
                                                                   UK £500,000/US $750,000 in the event of death while
granted remain in force while the fund is sufficient to
                                                                   travelling on public transport as a fare-paying
support   them.    Clients        can    select   an    annual
contribution period limited to ten years or can choose
to contribute throughout life. Alternatively a client can          Waiver     of   Contribution,      which     pays      future
choose to fund over a shorter period than ten years,               contributions in the event of the life assured’s inability
via the Accelerated Contribution Option.                           to work due to illness or accident. The benefit is also
                                                                   available on joint-life Plans in the event of the disability
                                                                   of whichever life assured was nominated for the
Sum Assured                                                        benefit at outset.
The amount payable on death is the guaranteed sum
                                                                   These benefits are not available to residents of some
assured or, if greater, the contract value (the value of
                                                                   countries. There are limits on the cover accepted
the accumulator and bonus units allocated to the Plan
                                                                   based on the client’s age, medical history and country
at the date of notification of death ). The value is

                                                           Page 9 of 12
                Assured Security Plan – Technical Guide

of residence. Benefit payment is subject to acceptance      however, Hansard International Limited reserves the
of the claim by Hansard International Limited.              right to impose a charge in future.
Please see the Plan conditions for full details of the
benefit definitions.                                        Early Surrender Value
                                                            The full value of units can be taken at any time after
Underwriting                                                the first four years’ contributions have been made. The
Underwriting considerations differ, depending on the        value is calculated using the appropriate unit bid
client’s country of residence. Countries have been          prices. The surrender value is likely to be less than the
grouped into nine underwriting categories. There are        amount contributed for much of the early life of the
countries from which business cannot currently be           Plan.
accepted and only some of the benefits are available
in others.                                                  Paid-Up Value
Medical evidence requirements vary by country of            After the first four years’ contributions have been made
residence, as do maximum benefit levels.                    the Plan may be paid-up (i.e. contributions to date
Lower rates are usually offered to non-smokers.             remain invested but no future contributions are made).
                                                            The sum assured and optional benefits (other than

Unit Allocation                                             Waiver of Contribution) can remain in force for as long
                                                            as the fund can support the monthly deductions for
No units are allocated for the first two Plan years. In
                                                            benefits and charges. Alternatively, the sum assured
the third year, accumulator units are allocated for 60%
                                                            can be reduced to nil, in which case no benefit charges
of the contribution; from the fourth year onwards
                                                            will be deducted from the fund. The annual service
accumulator units are allocated for 100% of all
                                                            charge on paid-up contracts is increased. Please refer
contributions. Units are allocated to the Plan at the
                                                            to the Assured Security Plan Product Profile for the
appropriate offer price.
                                                            current charge. A paid-up contract may admit the
                                                            resumption of contribution payments and the granting
Bonus Units                                                 of protection benefits at former levels at any time
Bonus accumulator units are currently earned at the         subject to satisfactory underwriting.
rate of 0.75% per year for all accumulator units and
previously allotted bonus units allocated to the Plan,      Charges
provided that contributions are maintained. Bonus
                                                            For information on charges, please refer to the
units are allocated to the Plan at each anniversary.
                                                            Assured Security Plan Product Profile which must be
                                                            read in conjunction with this brochure.
Units from one of the UK Managed, UK Cautious or            Plan Review
International Managed Funds are allocated to UK
                                                            After five years, and at Hansard International Limited’s
Sterling denominated contracts.
                                                            discretion thereafter, the Plan will be reviewed to
Units from one of the US Managed, US Cautious or            ensure that it can support the level of benefits
International Managed Funds are allocated to US             provided. If benefits cannot be maintained, the
Dollar denominated contracts.                               contribution will need to be increased or the benefits
                                                            will be reduced. In exceptional circumstances the first
Switching                                                   review could take place before the five-year
Fund switching is possible on Plan anniversaries, on a
bid-to-bid basis, once accumulator units have been
allocated. There is currently no charge for switching,

                                                   Page 10 of 12
                Assured Security Plan – Important Notes

The value of this contract depends on the performance of the fund link that is chosen. Fund link performance is
measured by the progress of the unit price; unit prices can fall as well as rise. Unit price fluctuation may result in
losses, especially in the short term, and gains or losses may arise as a result of exchange rate fluctuations.

The information provided in this brochure is based on Hansard International Limited’s current understanding of
legislation. No liability can be accepted for changes in the law, practice or tax regulations of any country.

The Technical Guide is a summary of specific parts of the Terms and Conditions for the product described, and
this information can therefore be relied on. Hansard International Limited cannot, however, accept responsibility
for or be bound by any contradictory or supplementary information provided by any third party about this product.

Hansard International Limited does not give advice on the suitability or otherwise of its products for individual
clients. Hansard International Limited’s products are available only through Independent Financial Advisors on the
basis that the Independent Financial Advisor is, in all respects, acting on behalf of the client.

If a client becomes resident in the United States of America while the Hansard International Limited contract is in
force, this will affect the status of the contract. Hansard International Limited may not be able to accept further
contributions or instructions to vary the fund choice until after a client ceases to be a resident of the United States
of America.

This contract is covered by the terms of the Isle of Man Life Assurance (Compensation of Policyholders)
Regulations 1991. Hansard International Limited reserves the right to adjust the returns from investments to cater
for any levy or charge made on it under these regulations or any similar legislation.

This brochure must be read in conjunction with the Assured Security Plan Product Profile.

Hansard International Limited (‘the Company’) is authorised under the Isle of Man Insurance Act 1986. Its activities
are authorised and regulated by the Isle of Man Insurance & Pensions Authority, who monitors that the Company
is managed properly and that adequate financial resources are provided for the transaction of life assurance

Hansard International Limited’s registered office is Harbour Court, Lord Street, Box 192, Douglas, Isle of Man,
IM99 1QL, British Isles.

This brochure does not constitute an offer.

No liability can be accepted for any country’s tax or legislative measures which might affect the contract described
in this brochure. Please ensure that you understand the tax, exchange control and insurance legislation which
exists in your current country of residence and in the country where you expect to reside when you take the
benefits. Please note, legislation may change between the start of the contract and its surrender. The effect of
such changes, if any, cannot be predicted.

Please satisfy yourself that under any tax, exchange control or insurance legislation which is effective in your
current country of residence, you are allowed to effect this contract, an offshore, regular contribution unit-linked life
assurance contract. Such legislation may affect the amount or form of benefits received.

Complaints - It is Hansard International Limited’s policy to respond to and resolve all complaints by contract
holders promptly and courteously. Complaints which cannot be settled can be referred to the Financial Services
Ombudsman Scheme for the Isle of Man.

                                                     Page 11 of 12
These definitions are a guide only. Please see the contract terms and conditions for full details of the Assured
Security Plan.

CRITICAL ILLNESS COVER                                                  WAIVER OF CONTRIBUTION
Heart Attack. The death of a portion of heart muscle                    Depending on the residency of the life assured, contributions
(myocardium) resulting from a blockage of the coronary                  will be credited to the contract by the Company until the
arteries. Diagnosis is based on three criteria being present,           contract anniversary prior to the life assured’s 60th birthday, if
namely a history of typical prolonged chest pain, new ECG               the life assured becomes continuously and totally unable
changes and a characteristic rise of cardiac enzymes,                   through accident or sickness to follow his or her occupation.
troponins or other biochemical markers; where all of the above          In certain territories contributions will be so credited if the life
show a definite acute myocardial infarction. Other acute                assured becomes continuously and totally unable through
coronary syndromes, including but not limited to angina, are            accident or sickness to follow his or her occupation or any other
not covered under this definition.                                      for which he or she is reasonably suited by training, education
Coronary Artery Disease Surgery. The actual undergoing of               or experience and is not following any other occupation.
by-pass surgery (either saphenous vein or internal mammary              For those not in remunerated employment, or those with
graft) for the treatment of coronary artery disease.                    occupations for which the standard definitions are
Angiographic evidence of the underlying disease must be                 inappropriate, a special definition of disability will apply.
provided. All other operations are specifically excluded.
                                                                        Disability arising as a result of self-inflicted injury, alcohol or
Cancer. The manifestation of a malignant tumour (a tumour               drug abuse, aviation (other than as a fare-paying passenger),
which is not encapsulated and which has properties to infiltrate        hazardous pursuits, nuclear accident and war is excluded.
and cause metastases) including leukaemia and Hodgkin’s
                                                                        No benefit will be payable if the claim relates to sickness or
Disease. The diagnosis must be supported by histological
                                                                        disability commencing within six months of the start of the
evidence of malignancy. Specifically excluded from the cover
are all skin cancers except malignant melanomas, all tumours
which are histologically described as pre-malignant or only             Claims from lives assured infected with HIV will be disallowed.
showing early malignant change, cancer-in-situ, Stage 1                 If contributions are not maintained, this benefit will lapse.
Hodgkin’s Disease, and papillary cancer of the bladder.
                                                                        SMOKER/NON SMOKER
Stroke. A cerebrovascular accident or incident producing
neurological sequelae lasting more than 24 hours and of a               The life assured is defined as a non-smoker if he or she is
permanent nature. Evidence of permanent neurological deficit            currently a non-smoker and has not used tobacco products for
must be produced. Specifically excluded are Transient                   the last 12 months.
Ischaemic Attack and attacks of Vertebrobasilar Ischaemia.
                                                                        EXCLUSION CLAUSES
Renal Failure. End stage renal failure presenting as chronic
                                                                        A number of the benefits are subject to exclusion clauses, as
irreversible failure of both kidneys to function, as a result of
                                                                        are a number of territories. These are defined below:
which regular renal dialysis is instituted or renal transplantation
is carried out.                                                         Active War. The benefit will not be payable if death occurs
                                                                        directly or indirectly from active involvement in war, invasion,
Major Organ Transplant. The actual undergoing of
                                                                        act of foreign enemies, hostilities or warlike operations
transplantation of heart, heart and lung, liver or bone marrow,
                                                                        (whether war be declared or not), civil war, mutiny, civil
but not as the donor.
                                                                        commotions assuming the proportions of or amounting to a
Permanent and Total Disability. The life assured becoming               popular rising, military rising, insurrection, rebellion, riot,
totally and permanently disabled through accident or sickness           military or usurped power or any act of any person acting on
and unable ever again to follow his/her own or any other                behalf of or in connection with any organisation actively
occupation. Disablement must start before age 60, and the life          directed towards the overthrow or to the influencing of any
assured must be continuously disabled for 6 months.                     government or ruling body, by force, terrorism or violence.
Disablement arising as a result of self-inflicted injury, alcohol or
                                                                        Nuclear Accident. No benefit will be payable if death occurs
drug abuse, aviation (other than as a fare-paying passenger),
                                                                        directly or indirectly as a result of nuclear fission, nuclear fusion
hazardous pursuits and war is excluded.
                                                                        or radioactive contamination.
ACCIDENTAL DEATH                                                        Illegal Acts. The benefit will not be payable if a claim arises
The death of the life assured before age 65 solely, directly and        directly or indirectly from, or as a result of, activities of an illegal
independently of all other causes from bodily injury effected           or criminal nature either perpetrated by the life assured or
through external, violent, visible and accidental means within          arising as a result of association, voluntarily or otherwise, with
90 days of such accident. Death arising as a result of self-            persons known to be involved in illegal or criminal activities in
inflicted injury, alcohol or drug abuse, aviation (other than as a      any relevant jurisdiction.
fare-paying passenger), hazardous pursuits and war is                   Self-inflicted means. A death claim arising from self-inflicted
excluded.                                                               means (suicide) is not covered during the first two years after
                                                                        the commencement date of the Plan. In certain territories a
COMMON CARRIER                                                          death claim arising from self-inflicted means (suicide) is not
The death of the life assured solely, directly and independently        covered.
of all other causes, from bodily injury effected through external,      Violent Death. No benefit under the Plan is payable if a claim
violent, visible and accidental means within 90 days of such            occurs as a result of death or bodily injury deliberately inflicted
accident while the life assured was a fare-paying or ticket-            on the life assured by another person or as a result of the
holding passenger, mounting into, dismounting from or                   committing of an assault or other crime by or against the life
travelling in, an aircraft of a recognised airline or charter           assured.
service, train, boat, public lift or road public service vehicle
including a licensed vehicle plying for public hire.

                                                               Page 12 of 12
                                 HANSARD INTERNATIONAL LIMITED
              Harbour Court, Lord Street, Box 192, Douglas, Isle of Man IM99 1QL, British Isles
                 Telephone: +44 1624 688000 Fax: +44 1624 688008 Internet:
                                            Registered No. 32648
                            A Member of the Association of International Life Offices
                   Regulated by the Isle of Man Government Insurance and Pensions Authority
Policyholders are protected by the Isle of Man Life Assurance (Compensation of Policyholders) Regulations 1991

                                                                                                                 H-0437-O 30/07/09

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