Modern life has made us particularly susceptible to certain illnesses whilst at the same time modern medicine has increased the chances of our surviving these illnesses. Ultra Lifeline is an entirely new kind of product designed to protect you and your family from the additional financial demands which these serious illnesses bring with them. The Ultra Lifeline Plan is an equity-linked insurance plan available to anyone between the ages of 20 and 60, which provides a benefit on death or upon first diagnosis of one of the 30 critical illness conditions listed in the definition under Additional Information.

Benefits

• Different premium rates apply for each option: The lifeline benefit is payable on the first diagnosis of any of the Lifeline Conditions, provided that the diagnosis is not made within 3 months of the issue date. In this circumstance, the benefit is restricted to a return of all basic premiums paid. Furthermore, claims must be made no later than 6 months after diagnosis. If any Lifeline benefit or death benefit is paid, then the policy terminates and no further benefit shall be payable. If no claim has been made by age 75, or the 20th policy anniversary is later, the Lifeline benefit no longer applies.

• Automatic Inflation Linking: You may choose at the outset to have the basic sum insured increased automatically on each plan anniversary by a rate equivalent to the annual inflation rate, subject to a minimum increase of 5% and a maximum increase of 20%. These increases are not subject to any medical evidence at the time of the increases. The basic premium is increased in accordance with the increase in the basic sum insured based on your attained age at the time of the increase. The last increase takes place on the policy anniversary at which you are age 60 at your nearest birthday. Automatic inflation linking maintains the value of your life insurance cover in real terms. At each plan anniversary, you also have the option to increase the regular additional premium. Taking advantage of this facility means that all the benefits of your plan are maintained in real terms.

• Other Changes in the Basic Sum Insured: You may apply for any other change in the basic sum insured to respond to any specific need. This means that you can increase the amount of coverage by more than that allowed for by automatic inflation linking or you can decrease the amount of coverage, thereby channeling more of your premium into savings as your circumstances change in the future. Any ad hoc increase of this nature is subject to satisfactory evidence of insurability. Overall minimum and maximum limits in respect of the size of the basic sum insured may apply from time to time and are available upon request from the company. A transaction fee, determined by the company from time to time, is taken by canceling units in the interest fund on exercising an ad hoc change of this nature. This transaction fee does not apply if you choose automatic inflation linking. The basic premium is increased or decreased in accordance with the increase or decrease in the basic sum insured based on your attained age at the time of the change.

• Periodic Policy Reviews take place to ensure that the fund value can continue to maintain the benefits provided. These reviews may necessitate either an increase in basic premium or a decrease in the basic sum insured or some combination of both.

Non-Payment of Premiums

Thirty (30) days of grace are allowed for the payment of any premium from its due date. In the event that premiums are not received within this period, the basic sum insured remains payable provided that the value of the units in the interest fund is sufficient to cover the monthly charges. When the cash value is no longer sufficient to cover these deductions, your plan lapses, and the value of any residual units in any other of the Sagicor Segregated Funds will be encashed.

Additional Benefits/Riders

You may add to your plan any of the following additional benefits (riders) for a small extra premium:

•     Accidental death and dismemberment

•     Total disability waiver of premiums

•     Supplemental Term

The following are not covered:

• An abnormality seen on the brain or other scans without definite related clinical symptoms.

• Neurological signs occurring without symptomatic abnormality, e.g. brisk reflexes without other symptoms.

• Symptoms of psychological or psychiatric origin

• Traumatic head injury secondary to alcohol or drug abuse.