Subject to the conditions below, Grand China Life Insurance PLC. (the “Company”) will provide Temporary Cover to the proposed Insured for a period of 21 (twenty-one) calendar days from the date of receipt of the application with full initial modal premium paid. In the event of death of the proposed Insured, caused directly and solely by an accident during the Temporary Cover period, the death benefit payable shall be USD2,500 (two thousand five hundred US Dollars) or the Basic Sum Insured applied for, whichever is lower, except for any application for the “Offspring Prosperity Insurance” product where the full initial modal premium paid to the Company shall be returned. If the full initial modal premium paid is greater than USD2,500 (two thousand five hundred US Dollars), the Company will return the full initial modal premium without interest, instead of providing the Temporary Cover benefit. The proposed Insured shall be covered under only one Temporary Cover at any particular time regardless of the number of applications pending. The Temporary Cover period may be extended at the sole discretion of the Company.
Accidental death shall result directly from the unintentional, sudden and traumatic event caused solely by external, violent, unforeseen and visible means, occurring during the Temporary Cover period. The Temporary Cover benefit shall not be paid if the death of the proposed Insured is a direct or indirect result of the following causes:
a) An act of suicide whether sane or insane, or
b) Use of drugs or stimulants or alcohol abuse, drunk driving or their complications as determined by law.
In the event of cancellation by the Applicant or the application is declined or rejected by the Company, the full initial modal premium shall be returned to the Applicant, less any reasonable charges. If the Temporary Cover benefit has been paid, the full initial modal premium will not be returned and the application will be voided, and no other benefits will be payable.