Policy in keeping with national and international embargo and sanction regimes

In implementation of national and international legislation, the insurer reserves the right to reject the stated transactions in the following cases:

• Increasing the periodic premium, paying an additional lump-sum premium, increasing existing coverages, as well as extending or renewing the insurance contract or certain coverages thereof, in the following cases:
  • over the course of the contract, the insurer takes account of the fact that the policyholder has or has moved their known place of residence, registered office or headquarters to a country or area that is listed on a sanction or embargo list of Belgium, the Netherlands, the European Union, the United Nations or the United States;
  • over the course of the contract, the insurer takes account of the fact that the policyholder is employed by a government, government institution or state-owned company of a country or area that is listed on a sanction or embargo list of Belgium, the Netherlands, the European Union, the United Nations or the United States.
• The transfer of the insurance contract or certain rights and obligations that arise from this contract, as well as the endowment of the insurance contract or the pledging thereof for the benefit of a natural person or legal entity who resides or is established in a country or area that is listed on a sanction or embargo list of Belgium, the Netherlands, the European Union, the United Nations or the United States or who is employed by a government, government institution or state-owned company of such a country or area or has the nationality of such a country or area.
• The designation of a natural person or legal entity who resides or is established in a country or area that is listed on a sanction or embargo list of Belgium, the Netherlands, the European Union, the United Nations or the United States or who is employed by a government, government institution or state-owned company of such a country or area or has the nationality of such a country or area as the beneficiary of the insurance contract or of a payment on the grounds of the insurance contract (such as an advance payment, a partial, full or programmed lump-sum payment, an annuity, medical costs, a payment in the event of incapacity for work, in the event of death or life at the expiry date of the contract).
• The acceptance of a premium payment or carrying out a payment to the bank account established in a country or area that is listed on a sanction or embargo list of Belgium, the Netherlands, the European Union, the United Nations or the United States.
• The acceptance of a premium payment or the carrying out of a payment to the bank account established in a country that is considered on the basis of Article 179 of the implementing decree of the Belgian Income Tax Code as a so-called "off shore land".

When an insurer rejects such a transaction on the basis of this clause, it shall inform the policyholder or, in their absence, their beneficiary, in writing or by e-mail. In this case, the policyholder has the right to terminate the insurance contract without falling due to the insurer for the costs or fees of this. Under no circumstances can a rejection by the insurer on the basis of this clause give rise to any kind of compensation.