Product Disclosure - Premium and fees information



The owner may choose to pay the premium annually, semi-annually, quarterly or monthly. According to the premium frequency that the owner chooses, a modal factor may apply to the total premium.

If the coverage is a base coverage, the yearly premium includes the $65 policy fee payable under the policy. Policy fees are not charged when Protecta coverage is attached to another policy as a rider. Standard Life may request a fee if any cheque or other means of payment is not honored when processed.


Grace period


Thirty-one days of grace are allowed from the premium due date for the payment of each total premium other than the first. If the total premium is unpaid at the end of the grace period, the policy will lapse.

During the grace period, you must pay any amount due to ensure that the policy remains in force. If a claim is made during the grace period, we will pay the benefit but we will deduct any amount due to us from the proceeds.