Plan commencement date
The date on which the plan starts as shown in the plan schedule.
Plan maturity date
The date on which the plan term expires as specified in the plan schedule.
Plan term
The period which commences on the plan commencement date and ends on the plan maturity date as specified in the plan schedule.
Plan year
A period of 12 consecutive months commencing from the plan commencement date and ending on the day immediately preceding its annual anniversary and each subsequent period of 12 consecutive months thereafter during the plan term.
Premium
The price of an insurance policy, typically quoted on an annual, semi-annual, quarterly or monthly basis.
Premium paying term
The number of years, during which you will pay the regular or limited premium as specified in the plan schedule.
Proposal form
The application form completed and submitted by you based on which the insurance plan will be issued to you.