1:2 loan form - ncsl · 1:2 loan form. personal loan agreement - declaration i declare the...

Membership Number:

PERSONAL DETAILSGiven Name: Surname:

Date joined current employer: Occupation: Name of Employer:

Telephone: Mobile: Email:Place of Residence: Street: Section: Lot:

LOAN DETAILS1. Amount Required: (K) Amount in words:2. Purpose of Loan:

3. METHOD OF PAYMENT (Tick the appropriate box)

Direct Deposit into Bank Account Account Name:Name of Bank:Branch (BSB):Account Number:

Note: Copy of bank statement to be provided if nominating the account to NCSL for the first time.

Collect in Person for Value Back Loyalty Program:

Payee Name:

Please complete and provide all supporting documents (including last three payslips).

Current Fortnightly Deductions to NCSL:

Other Deductions:

Net Salary after all Deductions:

NASFUND CONTRIBUTORS SAVINGS & LOAN SOCIETY LIMITEDForm SL2a

P.O Box 7732, Boroko, National Capital District, Tel: 313 2000 Fax: 320 0913

1:2 LOAN FORM

PERSONAL LOAN AGREEMENT - DECLARATION

I declare the information given in support of this application is true and correct. If the loan is approved, I undertake to do the following;

• To repay the loan amount with interest and stamp duty within the agreed time consistent with the Savings & Loan Societies (Amendment) Act 1995 and the Register of Savings & Loan Societies directives and in force from time to time rate of K per fortnight thereafter until this loan together with total interest is fully paid.

• Authorise my employer’s Salary Section to deduct such rate of payment from my gross fortnightly salary and pay it

direct to the Society.

• To give any security which may be required by the Society for the purpose of securing this loan and other loans with the Society AND FURTHER, acknowledge that the currency of this agreement is subject to my continued employment with my current employer and if otherwise and without effecting my general liability under this agreement the following shall become effective immediately;

a) the Society shall be at liability to apply my savings if any outstanding loan I may have had with the Society; and

b) if after such application an amount of money is still owed by me the Society shall be entitiled to cessation of employmentbenefitsthatmayaccruetomeandapplyitagainsttheamountstillowedbyme.

Dated this day of year (day) (month)

Signature of Applicant:

EMPLOYER ENDORSEMENT

I employed as (name) (HR/ Payroll)

with hereby agree to deduct K from (Employer Name)

Mr/Mrs/ Ms fornightly salary commencing ppe and remit

these deduction to NCSL until the total amount owing to NCSL is fully repaid.

CONTACT DETAILS FOR HR/ PAYROLL

Contact number:

Email Address:

Signature:

affix employer stamp here

Date: / /

The Pay Master

Dear Sir/ Madam,

IRREVOCABLE ORDER – (Print Name Here)

In consideration with loan accommodation granted or to be granted to me from time to time by NCSL, you are hereby requested, authorised and directed that: -

• In the event of completion of contract, my termination or resignation, any entitlements due to me such as resignation pay, leave pay, gratuity, commissions, housing and motor vehicle allowances;

• Any entitlements such as gratuity payment due during the term of my employment are to be forwarded to the said Society for the credit of NCSL loan account in the name of .

• Deduct the sum of K from my salary every fortnight and credit to NCSL loan account in the name of .

This order is given for valuable consideration, is irrevocable and may not be canceled without the consent of the said Society in writing.

This order also supersedes any current order in place.

Yours faithfully,

……………………......... ………………….. Signature (Member) Date

We acknowledge that we will comply with the above order.

Pay Officer’s Name: …………………………………….....................Signature........................................................ Date.....................................


Dear Sir/Madam,

I hereby give my consent to NASFUND Contributors Savings & Loan Society Ltd (NCSL) to disclose information in regards to my financial status as per listed;

1.toobtainacreditreportcontainingpersonalfinancialandcreditinformationinrelationtotheundersigned from a Credit Reporting Agency,

2. to utilize the credit report to assist in the assessment of any loan or credit application by me,

3.toexchangepersonalfinancialandcreditinformationinrelationtotheundersignedwithothercredit providers including details of loans obtained from NCSL and,

4. to inform the Credit Reporting Agency of any default in the repayment of the credit provided to me.

Name: Membership No:

Signature: Date: / /

Contact (s): Ph: Mobile: Email:

Address:

OFFICE USE ONLY

NCSLProcessingOfficer:Date://

Comments (Findings):

CREDIT & DATA BUREAU Client’s Authorisation Clause

Date: / /

Lending ManagerNASFUND Contributors Savings & Loan Society LimitedP O Box 7732, BOROKO National Capital District

EMPLOYMENT CONFIRMATION

This section of the 1:2 loan application must be completed and stamped by your HR or Payroll Officer.

Name:

Employment Category:

Date: of Employment:

Annual Salary:

Fortnightly Pay:

Position:

Dept/ Section:

Accured Long Service Leave:

Date of Next Annual Leave:

Others:

Yours faithfully,

……………………………………...................Signature:

Name………………………………………….

Designation…………………………………..


Capital Life Insurance Limited is a member of the Capital Insurance Group

SCHEDULE

Attaching to and forming part of Policy No.:

NAME OF THE ASSURED

RISK CAPITAL CONSUMER LOAN PROTECTION ASSURED POLICYHOLDER SUM ASSURED: LIFE The amount outstanding under NCSL Loan contract No.xxxxx or Kxxxx

whichever is the lesser at the time of claim. SUM ASSURED: DISABILITY Up to three months regular repayments under NCSL Loan contract No.xxxxx

or K20,000 whichever is the lesser at the time of claim; and no greater sum than K20,000 during the currency of this policy.

TO WHOM PAYABLE NCSL SITUATION: Worldwide EVENT UPON WHICH Death of an Assured Person from any Cause during the Period of Assurance, THE SUM ASSURED: LIFE IS PAYABLE subject to the terms, conditions and exclusions of this policy EVENT UPON WHICH THE SUM ASSURED: Total Disablement of an Assured Person from any Cause during the Period of DISABILITY IS PAYABLE Assurance, subject to the terms, conditions and exclusions of this policy EXCLUSIONS No Sum Assured shall be payable if the Death or Total Disablement of an

Assured Person results directly or indirectly from:

a) An Assured Person participating in any criminal act; b) Nuclear Chemical and Biological Terrorism; c) Terrorism; d) War; e) Suicide, a deliberately self inflicted injury, or deliberate exposure to

exceptional danger (except in the attempt to save human life); f) Epidemic; g) HIV/AIDS; h) The Assured Person being under the influence of alcohol or drugs; i) Tribal or clan wars or disputes of whatever nature; j) Pre Existing Conditions that result in Death or Total Disablement of an

Assured Person. k) For Death during the first 3 months of the Period of Insurance from any

cause other than by Violent, Visible and External means.

PREMIUM K THE PERIOD OF From: 4.00pm on the day of 20xx THIS INSURANCE

To: 4.00pm on the day of 20xx

Both days inclusive. Local Standard Time at the address of the Assured DATED IN PORT MORESBY THIS day of 20


CAPITAL CONSUMER LOAN PROTECTION POLICY WORDING We will pay the Sum Assured mentioned in the Schedule to the Assured after production of satisfactory proof, as determined by Us of:

i. the happening of the Event stated in the Schedule and

ii. the employment status of the deceased Assured Person

iii. the age of the deceased Assured Person PROVIDED ALWAYS THAT this Assurance is subject to conditions and exclusions set out in the Policy and those, if any, endorsed by Us herein. DEFINITIONS Actively at Work: Mentally and physically capable of carrying out his normal regular duties associated with

the job which You are normally engaged in at your usual place of work for your usual hours of work.

Criminal Act The intentional commission of an act usually deemed socially harmful or dangerous and specifically defined, prohibited, and punishable under criminal law.

Disablement As a result of injury or sickness You are medically certified as being totally unable to carry out Your normal regular duties associated with Your job for a period of no less than 30 consecutive days.

Epidemic: Means as declared by the World Health Organization.

Pre-Existing Condition : Claims arising from any condition for which the Assured Person has received Medical

treatment, Diagnosis consultation or prescribed drugs during the twelve (12) month

period prior to the Assured Person being insured under this Policy and that Assured

Person continues to receive Medical treatment, Diagnosis consultation or prescribed

from the date they become insured under this Policy.

NCSL: Means Nasfund Contributors Savings & Loan Society Limited

We, Our, or Us Means Capital Life Insurance Limited

You, Your Means the Assured as named in the Schedule


1. IT IS HEREBY WARRANTED that You are Actively At Work, or on scheduled recreation or Long Service Leave at the inception

of this policy and have not been absent for reasons of ill-health or injury for more than ten consecutive days in the

preceding six months.

2. Unless specially provided herein to the contrary Papua New Guinea Law shall govern this Policy and the Papua New Guinea Courts alone shall have jurisdiction in any dispute arising hereunder.

3. Notice of any claim under this Policy shall be given by the Assured to Us as soon as practicable, but not later than 6 (six) months from the time of the death of the Assured member. Failure to do so, may give Us the right to decline the claim due to late notification.

4. This Policy is free from all restrictions as to occupation, foreign travel or residence, except as may be specially provided herein to the contrary, and is indisputable unless there be non-disclosure or misrepresentation of a material fact.

5. No benefits under this Policy shall be subject to interest charges and We shall not be affected by any trust, charge, lien, assignment or any other dealing related to this Policy.

6. The receipt of a Form of Discharge from the Assured or from any other person or persons duly authorized by them by notice in writing to Us shall be an absolute discharge in respect of the payment by Us of any Sum Assured under this Policy.

GENERAL CONDITIONS

1. Any and all proceeds of any claim made under this Policy are agreed to be payable to and the property of Credit Corporation Limited, to be applied against the balance outstanding under the Loan contract specified in the Schedule attached to this policy.

2. We reserve the right to vary from time to time any of the terms of this Policy and Schedule and of any endorsement attaching to it upon giving to the Assured three months' notice of our intention to do so. Any such variation, other than a variation of the premium, shall apply only to the sums assured or increases in sums assured becoming effective on or after the expiry of such notice.

3. We reserve the right upon giving written notice to the Assured to terminate this Policy upon any infringement of these general conditions and payment of any benefit shall be conditional upon the Assured complying with the terms of this Policy.

4. Any fraud, concealment, or deliberate misstatement by an Assured Person, if unknown to the Assured affecting assurance under this Policy or in connection with the making of any claim hereunder shall render this Policy null and void in so far as it relates to the Assured Person in question but any such fraud, concealment, or deliberate misstatement by or known to the Assured shall render the whole Policy null and void and all claims hereunder shall be forfeited.

5. Words in the masculine gender shall be deemed to include the feminine.

6. This Policy does not acquire a surrender value.

7. This Policy may only be cancelled with the consent of NCSL, and any refund of premium shall be payable to NCSL and applied by them to reduce the balance of the Loan specified in the Schedule.


SUM ASSURED: LIFE

The Sum Assured shall represent the amount required to discharge the NCSL Loan Contract specified in the Schedule, as at the date of Death of the Assured Person; which will not exceed the amount of Principal advanced under that NCSL Loan Contract as at the inception date of the policy. However We shall not be responsible for the payment of any Late interest or Loan penalties that may have accrued prior to the date of death of the Assured Person.

The assurance of a Life Assured shall terminate immediately upon:-

(i) The discharge of the NCSL Loan Contract specified in the Schedule either by the normal effluxion of time, or by early termination by the Assured

or (ii) The early termination of the NCSL Loan Contract by actions taken by NCSL

or (iii) The expiry of the Period of the Insurance detailed on the Schedule.

or (iv) The Life Assured attaining the age of 65.

Whichever is the earlier.

SUM ASSURED: DISABLEMENT

The Sum Insured shall represent no more than 3 times the scheduled monthly repayment amount for the NCSL Loan Contract

specified in the schedule, or K20,000 whichever sum shall be the lesser.

To be eligible for a payment under you must have been Totally Disabled for a period of more than 30 consecutive days. We will then

pay 1/30 of the monthly benefit for each additional day (after the 30 consecutive days) that you continue to be disabled. You may

claim a monthly benefit for each continuous period of disablement for a maximum of 2 months (following the 30 consecutive days).

You may claim for a subsequent disablement which occurs more than 180 days after the full recovery from a disablement the subject

of a claim under this Sum Assured however We will not be liable for more than 3 times the scheduled monthly repayment amount

for the NCSL Loan Contract specified in the schedule, or K10,000 whichever sum shall be the lesser in aggregate during the policy

period.


POLICY EXCLUSIONS

CRIMINAL ACT

This Policy does not cover death directly or indirectly arising out of or contributed to by an Assured Person's own criminal act.

NUCLEAR, CHEMICAL, BIOLOGICAL TERRORISM EXCLUSION CLAUSE

Notwithstanding any provision to the contrary within this Policy or any endorsement thereto it is agreed that this Policy excludes any losses directly or indirectly arising out of, contributed to or caused by, or resulting from or in connection with any act of nuclear, chemical, biological terrorism (as defined below) regardless of any other cause or event contributing concurrently or in any other sequence to the loss.

For the purpose of this exclusion:

"Nuclear, Chemical, Biological Terrorism" shall mean the use of any nuclear weapon or device or the emission, discharge, dispersal, release or escape of any solid, liquid or gaseous Chemical agent and/or Biological agent during the period of this Policy by any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious or ideological purposes or reasons including the intention to influence any government and/or to put the public, or any section of the public, in fear.

"Chemical" agent shall mean any compound which, when suitably disseminated, produces incapacitating, damaging or lethal effects on people, animals, plants or material property.

"Biological" agent shall mean any pathogenic (disease-producing) micro-organism(s) and/or biologically produced toxin(s) (including genetically modified organisms and chemically synthesized toxins) which cause illness and/or death in humans, animals or plants.

If We allege that by reason of this exclusion any loss is not covered by this Policy the burden of proving the contrary shall be upon the Assured.

TERRORISM EXCLUSION

Notwithstanding any provision to the contrary within this Agreement or any endorsement thereto, this Policy does not cover any liability, loss, cost or expense of whatsoever nature directly or indirectly caused by, resulting from, arising out of or in connection with any act of terrorism, regardless of any other cause contributing concurrently or in any other sequence to the liability, loss, cost or expense.

For the purpose of this exclusion, terrorism means any actual or threatened violent act or act harmful to human life directed towards or having the effect of (a) influencing or protesting against any de jure or de facto government or policy thereof or (b) intimidating, coercing or putting in fear a civilian population or section thereof.

WAR EXCLUSION

Notwithstanding any provision to the contrary within this Agreement or any endorsement thereto, this Policy does not cover any liability, loss, cost or expense of whatsoever nature directly or indirectly caused by, resulting from, arising out of or in


connection with any act of war, regardless of any other cause contributing concurrently or in any other sequence to the liability, loss, cost or expense.

For the purpose of this exclusion, war means any loss or damage arising directly or indirectly from, occasioned by, happening

through or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war is declared or not), civil war,

rebellion, revolution, insurrection, military or usurped power.

SUICIDE EXCLUSION

This Policy does not cover death directly or indirectly arising out of or contributed to by the Life Assureds’ willful self-injury, suicide, attempted suicide, or deliberate exposure to exceptional danger (except in the attempt to save human life).

EPIDEMIC EXCLUSION CLAUSE

Notwithstanding any provision to the contrary within this Policy or any endorsement thereto it is agreed that this Policy excludes any losses directly or indirectly arising out of, contributed to or caused by, or resulting from or in connection with any other cause or event contributing concurrently or in any other sequence to the losses arising from any epidemic outbreak of a contagious disease that spreads rapidly and widely.

HIV/AIDS EXCLUSION

It is hereby noted and agreed that We shall not be liable for death caused directly or indirectly by any Acquired Immune Deficiency Syndrome (AIDS).

DRUGS AND ALCOHOL EXCLUSION

This Assurance does not cover death in any way caused or contributed to by the Assured Person being under the influence of:

alcohol; or

drugs, except as prescribed by a registered qualified medical practitioner;

TRIBAL FIGHTING OR CLAN WARS / DISPUTES EXCLUSION

Should We form the reasonable view that the Death of an Assured Person was directly or indirectly caused by their participation in Tribal Fighting, Clan Wars or Disputes then We shall not be liable for any claim for that Death.

PRE EXISTING CONDITIONS

This Assurance does not cover Death or Disablement caused or contributed to by a Pre-existing Condition of an Assured Person.

CAPITAL CONSUMER LOAN PROTECTION: PROPOSAL FORM

Name of Insured:…………………………………………………………

Must be the same as the person named in the Loan Contract as the Borrower

Postal Address:…………………………………………………………..

Amount Borrowed:………………………………………………………

Monthly Repayment:…………………………………………………….

Loan Term:………months from ……/……/…… to ……/……/……

Contract Number:………………………………………………………..

Have you been to a Doctor or medical facility in the last 12 months?

………If “Yes”, Why?..........................................................................

Signature………………………………./……/……

Capital Life Insurance Company Ltd. Is a member of Capital Insurance Group.

Lvl 2 TISA Haus, Sir John Guise Dve., Waigani NCD. Papua New Guinea. Ph. (675) 3231144

1:2 loan form - ncsl · 1:2 loan form. personal loan agreement - declaration i declare the...

Documents