The following content is the property of Atlas Life. The full PDF version is available here.
1.DEFINITIONS ………………………………………………………………………………………. 3
2.GENERAL INFORMATION …………………………………………………………………. 4
3.TYPE OF COVER …………………………………………………………………………………. 4
4.ASSIGNMENT ………………………………………………………………………………………. 4
5.APPLICABLE LAW ………………………………………………………………………………. 4
6.PREMIUMS ……………………………………………………………………………………………. 4
7.POLICY CHANGES ……………………………………………………………………………… 5
8.CLAIMS …………………………………………………………………………………………………. 5
9.ABSENCE FROM THE TERRITORY …………………………………………………… 6
10.POLICY BENEFITS ………………………………………………………………………………. 6
11.POLICY CONDITIONS ……………………………………………………………………….. 8
12.CONFIDENTIALITY AND DATA PROTECTION …………………………….. 8
13.CHANGE OF PERSONAL DETAILS…………………………………………………… 8
14.NON-WAIVER ……………………………………………………………………………………… 9
15.APPOINTMENT OF THIRD PARTY BENEFICIARY ………………………… 9
16.POLICY EXCLUSIONS ………………………………………………………………………… 9
17.FRAUD ………………………………………………………………………………………………….. 9
The Policy Conditions – reference TC09-2015 – and the separate Policy Schedule constitute the legal contract at the policy commencement. The policy documents should be read carefully and kept in a safe place.
The words in the policy shall have the meaning as shown below:
1.1. References to clauses are to the clauses of the Policy Conditions;
1.2. Words in the singular shall include the plural and vice versa;
1.3. Writing or written does not include email and/or faxes;
1.4. Any obligation in these Policy Conditions is on a person not to something and does not constitute any obligation to agree to;
1.5. Clause and Paragraph headings shall not affect the interpretation of this Agreement.
Means a long-term, non-domestic insurer incorporated under the laws of Seychelles and regulated by the Seychelles Financial Services Authority;
Means the last person, if any, appointed in the prescribed manner, before the death of the life assured, to receive the death benefits.
Means any business day in Seychelles that the commercial banks are open (Monday – Friday);
Means the date on which the policy starts and is shown in the Policy Schedule;
Means Atlas Life;
Means at a rate of 4% above LIBOR;
Means the life assured named in the Policy Schedule;
Means the date the policy expires. This date is set out in the Policy Schedule;
Has the meaning set out in Clause 3.1;
Means the underlying Policy Schedule issued;
Means the Policy Schedule first issued with the Atlas Life policy or any revised Policy Schedule issued due to alterations in the terms of the policy. The Policy Schedule states the details specific to your policy such as the name of the policyholder and sum assured;
Means the person or entity who own the policy as named in the Policy Schedule.
Means the premium shown in the Policy Schedule;
Means the currency stated in the Policy Schedule and being the currency in which the premium will be paid;
Means those factors (age, gender, smoking status, country, sum assured and term amongst other factors) that are considered by the insurer in determining the premium;
Means the date for payment of the premium as set out in the Policy Schedule and is the date on which the premium becomes due;
Means the benefit amount shown in the Policy Schedule;
Every policy is a separate contract issued by Atlas Life. The policy is based and formulated on an application submitted by the policyholder.
The Atlas Life policy and the Policy Schedules including any endorsements are collectively referred to as the policy (“the Policy”).
3.TYPE OF COVER
This policy is a pure risk policy and provides a lump sum death benefit, including a terminal illness benefit, and, if chosen, an accelerated lump sum disability benefit.
It is important that you read the Policy Conditions to ensure that the product meets your requirements. The Policy Conditions and all its accompanying documentation should be kept in a safe and secure place.
3.1 Entry Ages and Cover Limits
Life Cover – the minimum entry age is 18 next birthday, and the maximum entry age is 70. For term policies the entry age plus term chosen cannot exceed age 80.
Disability Cover – the minimum entry age is 18, and the maximum entry age is 60. The disability benefit is not available on a stand-alone basis.
The policy benefits can be selected in US$ or £ and € currencies at the prevailing exchange rates.
3.2 Policy Term
Life Cover – the policyholder will be able to select either a fixed term or cover for whole of life. The fixed term policy is available in quinquennial increases from 5 years to 35 years. Term policies have a maximum expiry age of 80. The whole of life policy has no set expiry age.
Disability Cover – the term will be the same as selected by the policyholder for life cover however, cover will expire at age 65 should that occur before the end of the term of the policy. Disability cover has a maximum expiry age of 65.
You may not assign this policy or any rights hereunder, without the prior written consent of Atlas Life.
In the event that the consent is given for an assignment, the policy will be binding upon their respective successors and permitted assigns.
In the event of a statutory successor such as a liquidator or trustee, the policy will be binding upon such statutory successor, as is provided for under statute.
This policy will be governed by and construed in accordance with the laws of Seychelles and the parties submit to the exclusive jurisdiction of the Seychelles courts.
- The policy is subject to a minimum premium of US$500per annum, US$200 per quarter, US$75 per month, orcurrency equivalent.
- The agreed premium to be paid by the policyholder isoutlined in the Policy Schedule.
- Premium contributions are paid in advance and can bemade either annually, quarterly or monthly.
6.1 Failure to Pay Premiums
6.1.1 If the premium balances remain unpaid by the policyholder by the 15th day following the remittance date, Atlas Life reserves the right to suspend or cancel the policy. If Atlas Life elects to exercise this right, it will provide the policyholder with 15 days prior written notice of its intention to do so.
6.1.2 A suspended policy may be reinstated within 90 days of the period referred to in Clause 6.1.1 above upon:
220.127.116.11 Payment of all premiums in arrears including any interest at the interest rate accrued thereon calculated from the remittance date to the date of payment. Atlas Life will have no liability for any claims incurred between the period referred to in Clause (6.1.1) above and the date of reinstatement of the policy.
18.104.22.168 Approval of the application for reinstatement is at the discretion of Atlas Life and they may require further evidence of insurability to reinstate the policy which may include a request to complete a Declaration of Good Health form.
22.214.171.124 Receipt of the Declaration of Good Health form and the terms on which the policy will be reinstated may be subject to change as a result of the information provided in the form.
6.1.3 If a policy is not reinstated within 90 days, it will be cancelled with immediate effect:
126.96.36.199. Atlas Life will be relieved of all liability under the policy as of the last date to which premiums have been paid for the policy; and
188.8.131.52. Life cover for policies for which premiums subsequently fall due on, or before, the cancellation date and thereafter will automatically be cancelled, as of the last date for which premiums have been paid.
Atlas Life reserves the right to question the validity of the reinstatement if the policyholder misrepresented a material fact (whether fraudulently or not) by not disclosing it, stating it incorrectly in any application, in any medical examination or in any information we have used as evidence of insurability.
- POLICY CHANGES
Only Atlas Life has the authority to make or alter the Policy Conditions. If any provisions of the policy conflicts with the laws of Seychelles, that provision is understood to be amended to conform to that law.
7.1.1 If a policy is suspended and is reinstated within 90 days of the suspension date (conditions for reinstatement need to be met as per Clause 6.1.2) in accordance with the terms of this policy, the life cover will be reinstated. Atlas Life will provide the policyholder with a reinstatement certificate as confirmation.
Should reinstatement be requested after 90 days of the suspension date, this will be subject to the standard Atlas Life underwriting practice and may be on different terms to those originally offered.
7.1.2 The policyholder must send to Atlas Life prompt written notice of their intention to reinstate the policy along with the outstanding premiums.
7.2 Policyholder Omissions or Misrepresentation
In case of omission or misrepresentation by the policyholder, Atlas Life reserves the right to increase the premium or cancel the policy unilaterally.
7.3 Insurer Errors and Omissions
Any administrative error shall be corrected by Atlas Life so that the policyholder is restored to the position that they would have occupied had no such error occurred. If this is not possible, Atlas Life will endeavour in good faith to promptly resolve the situation in a manner that is fair and reasonable.
Atlas Life will undertake all aspects of the claims assessment as well as administer the claims settlement. Claims will be assessed and compared to the underwriting information provided to identify possible non-disclosure.
Standard life claim requirements consist of the following:
- Completed claim form
- Certified copy of death certificate
- Certified copy of the passport of the life assured
- Completed medical report form
- Certified copy of the passport of the beneficiary/claimant
In addition to the above, the following is required in the event of a claim occurring as a result of an accident:
- Police report completed by the police
- Copy of the post mortem report
- Inquest findings (where appropriate)
- Full verdict in the case of a murder
Standard disability claim requirements consist of the following:
- Completed claim form
- Completed medical report form
- Copies of supporting medical evidence
- Certified copy of the passport of the life assured
- Atlas Life reserves the right to request any additional information as they consider relevant and appropriate at the time of the claim. Additionally, in certain instances, an assessment by an independent practitioner appointed by Atlas Life may be required.
Additional information will be requested on a case by case basis as deemed appropriate by Atlas Life at its sole discretion.
Atlas Life must receive written notification of a claim within 90 days of the event giving rise to a claim, failing which no benefit will be payable.
The claim notification must be sent to:
Atlas Life, Premier Building, Victoria, Mahe, Seychelles. Email: firstname.lastname@example.org Fax: +230 263 1487
8.2 Settlement of Claims
For all approved claims, Atlas Life will pay to you or your beneficiary the sum assured under the policy. The admitted claims will only be paid to your bank account or to that of your beneficiary and no third party payments are allowed.
8.3 Contested Claims
If Atlas Life does not accept a claim made in terms of the policy or if the beneficiary of the life assured disputes the amount of the benefits, the beneficiary may request Atlas Life to review its decision.
Atlas Life will only review its decision if the beneficiary sends them a written request to review within 30 days (the “Representation Period”) from the date that the beneficiary receives notification from Atlas Life.
If the dispute is not satisfactorily resolved in this manner, the beneficiary may institute legal action against Atlas Life for the enforcement of the claim, by way of the service of a summons.
The summons must be served on Atlas Life within 180 days of the expiry of the Representation Period. If this is not done, the claim will be forfeited and will become time-barred and Atlas Life will no longer be liable for the claim.
8.4 Claims Expenses
Claims investigation expenses as a result of a dispute or contest arising out of claims of entitlement to policy proceeds or benefits will be deducted from the policy benefits before being paid out to the beneficiary.
8.5 Excluded Claims Liability
Atlas Life will not be liable for claim payments if:
- the policyholder has failed to pay premiums asrequired under Clause 6.1; or
- the beneficiary has failed to provide claims proof; or
- such payments result, directly or indirectly, from abreach of the current policy; or
- the claim is a late reported claim as defined undersection 8.1, or
- in case of fraud or any policy exclusion (under Clause16).
8.6 Misstatement of Rating Factors
In the event of a change on a policy due to a misstatement of rating factors which is established after the death of the policyholder, the liability of Atlas Life may proportionately change.
The sum assured will be adjusted from the inception of the policy, and any difference in premiums and any associated allowances will be settled without interest.
9.ABSENCE FROM THE TERRITORY
Atlas Life will continue to cover a policyholder who temporarily leaves the territory for a short period, only if all three of the following conditions are met:
- Intended temporary absence: The policyholderbeing absent temporarily, for example, a shortbusiness trip or holiday.
- Shorter than three months: The absence is notmore than three months at a time. Atlas Life maydecide to extend the three months limit ifrequested to do so in writing by the policyholder,however, they are not obliged to do so. If Atlas Lifedoes agree to extend the three month limit, theywill inform the policyholder of their decision.
- Continuous premium payments: during thetemporary absence, the policyholder continues topay the premiums.
The policy ends when the policyholder is absent from the territory of cover for more than the three months limit (or any extended period agreed to in writing).
If the policyholder returns to the territory of cover any time after the end of the three months period limit (or any extended period agreed to in writing), Atlas Life will treat them as a new policyholder and they must meet all conditions for eligibility including evidence of insurability before Atlas Life will consider them for cover again.
Should a policyholder permanently change their country of residence, they will have to inform Atlas Life. A decision will then be taken on whether cover can continue in the new country of residence, and if so, under what conditions.
On the death of the life assured, the sum assured shall be payable to the nominated beneficiary and the policy and its benefits will cease. The amount payable shall be reduced by any premium outstanding on the date of claim against the policy and any policy charges and claims expenses.
10.1 Terminal Illness Benefit
The Terminal Illness benefit will be paid if the life assured is diagnosed with a medical condition which, according to the approved Chief Medical Officer of Atlas Life will result in death within 12 months.
The amount of the Terminal Illness benefit is the amount of the death benefit and payment will result in the death benefit ceasing. This is not available in the last year of a term benefit. The Terminal Illness benefit is granted at the discretion of the Chief Medical Officer of Atlas Life.
In terms of the benefit covered by the policy, the Terminal Illness benefit is defined as a condition that, in the opinion of the Chief Medical Officer of Atlas Life or a delegated medical consultant, meets one or more of the following criteria for illness or condition of ill-health:
- that cannot be cured or adequately treated in orderto avert or delay death by 12 months or less;
- that is reasonably expected to result in death despiteoptimal, accessible and affordable treatment based oncurrent and generally accepted medical evidence-based outcomes and published medical scienceliterature;
- that there is no evidence that the policyholder hasattempted, actively, passively or through theassistance of another party or entity, to hasten theonset of death, to act in any manner that will increasethe likelihood of death or that will deter the efficacyof treatment prescribed or medical managementprovided;
- that the Terminal Illness is not in any manner theresult of any inducement, act, ingestion of anysubstance or any other means that is intended toaccelerate the onset of death;
- that there is no evidence of self-inflicted injury, self-induced exposure to conditions that can bereasonably expected to be known to be life-threatening or to cause the likelihood of TerminalIllness; failed suicide attempt including any form oflegal or illegal assisted suicide or any other evidenceof behaviour that may be reasonably expected to beknown to result in a terminal condition, illness orpathological process.
The definition includes the right to:
- require medical evidence from any source necessaryto evaluate the Terminal Illness benefit claim;
- require the claimant to provide all medical evidence,and the cost thereof, necessary to assess and evaluatethe claim;
- postpone payment of the claim should this beconsidered medically reasonable;
- investigate by whatever means any suspected evidence of fraud, collusion or other illegal act by the claimant and/or any third party, including medical professionals or institutions responsible for the diagnosis, treatment and care of the claimant;
- require compensation from the policyholder for the cost of any investigation or evidence collection in the event that there is evidence of fraud or other illegal activities.
10.2 Disability Benefit
The disability benefit will be paid as a lump sum if, due to an injury, illness, disease or condition, the policyholder is unable to either perform four of the ‘Activities of Daily Living’ (ADL’s) or satisfies the criteria of the ‘Physical Impairment’ definitions.
The policyholder must be diagnosed with an injury, illness, disease or condition, by a registered medical specialist.
The eligibility for a claim under this ADL benefit category will only be assessed if the policyholder presents themselves with a permanent inability to perform at least four ADL’s as per the following criteria:
10.2.1 Activities of Daily Living
- Feeding and Eating – inability to chew and swallow solid food and requires liquid meals or tube feeding / Inability to eat with utensils and have to be fed by another person
- Washing and Bathing – inability to wash the upper body and face without assistance or supervision
- Dressing and Grooming – inability to independently put on any items of clothing
- Toileting and Continence – complete incontinence that requires an indwelling catheter or wearing of nappies
- Transfer – inability to transfer independently from a bed to a chair
- Walk – total inability to walk five steps independently
- Stairs – total inability to negotiate three consecutive steps
- Telephone – unable to operate or use the telephone under any circumstances
- Shopping and Personal Finance – unable to perform a basic purchase of two items such as bread and milk
- Transport – unable to travel at all
10.2.2 Physical Impairment
The disability benefit is payable on the total and permanent loss of, or loss of use of, the listed body part or other events as listed.
The impairment must be permanent in nature and not amenable to treatment, including surgery.
The claim events covered by the Physical Impairment element of the disability product are as follows:
10.2.2.1 Benefit Event and Coverage
- Total vision loss in one eye 50%
- Total vision loss in both eyes 100%
- Total loss of one limb (feet/hand/arm/leg) 50%
- A combination of any loss of, or loss of use of any two of the following, as long as they are not part of the same limb: hand, arm, foot and/or leg. 100%
- Total loss of speech 100%
- Total loss of hearing 100%
- Major burns 100%
10.2.2.2 Benefit Specific Definitions:
- Loss of foot/feet refers to total and permanent loss of the use of a foot. For this purpose a foot includes the ankle joint. It includes amputation where amputation refers to the complete physical severance of a leg below the knee or through or above the ankle. Radiological evidence of irreversible joint destruction must be provided.
- Loss of leg/s refers to the total, complete and permanent loss of the use of a leg. For this purpose a leg includes the hip joint. It includes amputations where amputation refers to the complete physical severance of a leg through or above the knee. Radiological evidence of irreversible joint destruction must be provided.
- Loss of hand/s refers to the total and permanent loss of the use of a hand. For this purpose a hand includes the wrist joint. It includes amputation where amputation refers to the complete physical severance of an arm below the elbow or above or through the metacarpal bones of the hand. Radiological evidence of irreversible joint destruction must be provided.
- Loss of arm/s refers to the total and permanent loss of the use of an arm. For this purpose an arm includes the shoulder joint. It includes amputation where amputation refers to the complete physical severance of an arm above the elbow. Radiological evidence of irreversible joint destruction must be provided.
- Total loss of vision – an ophthalmologist must diagnose total and permanent loss of all vision with no light perception in the eye as a result of an accident.
- Loss of speech – A neurologist must diagnose total, permanent and irrecoverable loss of the ability to speak.
- Loss of hearing – An ear nose and throat specialistmust diagnose total, permanent and irrecoverableloss of hearing in both ears at 80 decibels.
- Major burns are defined as third degree burns thatare full thickness with scarring. A registeredsurgeon must confirm the diagnosis andinvolvement of at least 30% of total body surfacearea using standardised, clinically accepted, bodysurface area charts.
10.2.3 General Conditions
- This benefit is an accelerated benefit to the deathbenefit.
- Once a percentage of the benefit has been paid(e.g. 50% as a result of loss of an eye), only thebalance of the benefit is still payable after aneligible event (e.g. the remaining 50% as result ofmeeting the required ADL criteria).
- Maximum medical improvement is defined as acondition or state that is well stabilised andunlikely to change substantially in the next 12months, with or without medical treatment. Overtime, there may be some change, however furtherrecovery or deterioration is not anticipated.
- The policyholder must have undergone andcomplied with optimal medical treatment which isdefined as treatment that Atlas Life mayreasonably expect the policyholder to undergoaccording to generally accepted medical practiceat claim stage.
- A medical specialist appointed by Atlas Life willdetermine how many ADL’s the policyholder isable to perform or if any physical impairmentcriteria is satisfied.
- The deferred period is 6 months. However, if thedisability is confirmed as permanent earlier, theremaining portion of the deferred period may bewaived. Premiums must continue to be paid duringthe deferred period.
10.3 Addition or Removal of Policy Benefits
Benefits may be added to the policy by the policyholder however the policy benefits may not exceed the maximum cover limits available at that time.
Atlas Life will adjust the premium in accordance with the added benefit subject to the underwriting policy at the time of the additional application.
Benefits may be removed from the policy by the policyholder, provided that the policy does not fall below the minimum cover available at that time. Atlas Life will adjust the premium in accordance with the removed benefit.
Any adjustment to the sum assured will be made by a written endorsement signed by an authorised officer of Atlas Life.
Atlas Life reserves the right to appropriately adjust the terms and conditions under this policy to accommodate the following:
- any regulatory or legislative change including tax; or
- any change in circumstances, beyond our control,which increases the cost to us of maintaining thepolicy; or
- a substantial change to the underlying actuarial dataupon which the benefits and price hereunder werecalculated; or
- the non-cancellation of existing cover by thepolicyholder if advised to do so by Atlas Life.
12.CONFIDENTIALITY AND DATAPROTECTION
Personally identifiable medical, financial, and other personal information about proposed, current and former applicant, policyholder, life assured and beneficiary, of policies covered, contracts or coverages reinsured under this policy are confidential, except for information from which one could not reasonably identify an individual.
All personal data contained in the policy and any further data collected in the course of your business relationship with Atlas Life may be collected, recorded, organised, stored, adapted, altered, retrieved, transferred, disseminated or otherwise processed and used by Atlas Life and other entities which are appointed by them.
Such data shall be processed for the purposes of account administration, anti-money laundering and other general business purposes.
The policyholder may request details of their personal data held on our files in accordance with Mauritian Data Protection Law. The policyholder may also request the correction of any incorrect personal data by contacting Atlas Life.
13.CHANGE OF PERSONAL DETAILS
All changes of personal details such as change of address must be sent in writing to Atlas Life. If the changes are not notified in writing, Atlas Life will write to the policyholder at the last address on record and this will be treated as having written to the policyholder at the correct address.
The address for written communication with Atlas Life is: Atlas Life, Premier Building, Victoria, Mahe, Seychelles.
The policyholder must instruct Atlas Life in writing who will only amend the details once the original is received. Atlas Life will not act upon any instructions sent, where it reasonably believes that such instructions may involve a breach of any law, rule or regulation.
Atlas Life accepts no responsibility and will not be liable for any losses or damages arising as a result of any error, breakdown in transmission or misunderstandings regarding the identity of the person giving written instructions.
The policyholder agrees to indemnify and keep indemnifying Atlas Life against all losses, damages, liabilities, actions, proceedings, claims, costs and expenses (including legal expenses) on a full indemnity basis arising from or in connection with Atlas Life acting on written instructions given by the policyholder.
Once the policy has been amended, Atlas Life will issue a written endorsement signed by an authorised officer. If the written endorsement is not objected to within a one month period of when the endorsement was sent, the endorsement will be deemed to have been accepted and that it accurately reflects the said amendment.
Any failure by Atlas Life to enforce any of the terms and conditions contained in this document shall not be construed as a waiver of such rights at any time to enforce each and every terms and conditions outlined in this document.
15.APPOINTMENT OF THIRD PARTYBENEFICIARY
The policyholder may appoint a third party as beneficiary at any time prior to death. Such an appointment shall be of no effect and shall be deemed not to have been made if the policyholder dies within two days of making that appointment.
In the event of the appointment of a third party as a Beneficiary, such appointment shall be deemed to be accepted by Atlas Life on receipt of a completed “Appointment of Beneficiary” form which is available on request.
Any appointment of a third party beneficiary may be revoked by the policyholder at any point prior to the death of the policyholder.
Such a revocation shall be of no effect and shall be deemed not to have been made if the policyholder dies within two days of making that revocation. When there is such revocation of a third party beneficiary, the revocation will be deemed to be accepted by Atlas Life.
16.1 General Exclusions
No benefit will be payable if it arises, or is caused bythe following, whether directly or indirectly:
- The intentional breach of any criminal law, whetherlegislative or common law, by the policyholder, oranyone acting on behalf of the policyholder or withthe policyholder’s permission or knowledge or byanyone claiming a benefit under this policy.
- Willful participation in war, civil commotion, riot,terrorist activity or rebellion
- Radioactivity or nuclear explosion
- Consumption of alcohol where the blood alcoholcontent level is above the legal limit whilst driving orwhere the insured is prosecuted for reckless drivingor the insured person is suffering from alcoholism,deliberately inhaled gas or used poison, narcotics ordrugs, other than those drugs prescribed by adoctor.
16.2 Life Cover exclusions
No benefit will be payable in the event that the policyholder commits suicide within the first 24 months of policy commencement date. In the event of the policy lapsing and then being reinstated (as per Clause 7.2), a new 24 months suicide exclusion period will apply. Where there is an increase in sum assured, a 24 months exclusion period will apply to the amount the sum assured has increased by.
16.3 Disability Exclusion
No benefit will be payable if disability is due to self-inflicted injury or attempted suicide, including during insanity.
Furthermore, no benefit will be paid in the event of a disability as a result, whether directly or indirectly, of participation in any hazardous activities, including but not limited to:
- Mountaineering: extreme climbing/soloing, iceclimbing, extreme altitude climbing (above 6 000m).
- Diving: cave diving, internal exploration of wrecks,diving at depths greater than 30m, commercial diving.
- Gliding: paragliding, hang-gliding, parasailing, fixedwing gliding.
- Base-jumping, skydiving, parachuting, sky surfing.
- Private and commercial flying, other than as crew ofor fee-paying passenger on a scheduled flight of aregistered commercial airliner.
- Motorised racing, including speed contests or speedtrials of any kind.
- Fighting of any kind except in self-defense, includingboxing, kick-boxing and wrestling.
Where the policyholder or any other person acting on their behalf has acted fraudulently towards Atlas Life, whether at the time of entering into this policy, at the time of a claim or at any other time, where Atlas Life has suffered prejudice resulting therefrom, no benefit shall be payable to or in respect of the policyholder under the policy and Atlas Life may refuse to provide insurance cover, or terminate this policy forthwith on providing one month’s written notice to the policyholder.
In all instances where Atlas Life has been the victim of fraud or misrepresentation, where the conduct has resulted in prejudice, Atlas Life reserves the right to claim from the policyholder or from the beneficiary of the death benefit, any excess benefits paid by them by reason of the conduct; and any arrear premiums if the conduct has resulted in Atlas Life charging an inappropriately low premium.
The full PDF version is available here.