Bowtie Pink policyholder can request to adjust the deductible option on any Renewal Date.
|Request on any Renewal Date||Underwriting Requirement|
|Reduce or remove the Deductible||Re-underwriting required|
If the policy has satisfied below 2 conditions, Bowtie Pink policyholders can exercise a one-off right to reduce or remove the deductible, without re-underwriting, or providing further evidence of the insurability of the insured:
- The related Bowtie Pink policy has been in effect for 2 consecutive policy years
- The Insured Person attains the Age of 55, 60, 65, 70, 75 or 80
The policyholder can request to exercise such right, made not less than 30 days prior to the Renewal Date on or immediately following the date that the Insured Person attains the required Age. Please notes that this right can only be exercised 1 time during the lifetime of the Insured Person.
In any case, after the change of Deductible, the premiums of the Policy will be adjusted according to the prevailing Standard Premium schedule and the relevant Terms. For details, please refer to the policy terms and conditions Supplement No. 1.