Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) A reference in this section to the amount falling due under an agreement in respect of a day is a reference to the amount ascertained by dividing the amount of the payment that next falls due after that day under the agreement (excluding any arrears) by the number of days in the period :
(a) commenc ing on the day on which the immediately previous payment under the agreement fell due ; and
(b) e nd ing on the day on which that next payment falls due.
(2) T he minimum amount in respect of a claim made under a contract referred to in section 27 , being a claim that arises as mentioned in c olumn 1 of an item of t he following t able, is declared to be the amount ascertained in accordance with c olumn 2 of th e item , reduced by an amount equal to the amount so payable in respect of the first 14 days of the period during which the insured person is disabled.
Minimum amounts | ||
Item | Column 1 | Column 2 |
| Description of claim | Minimum amount |
1 | A claim that arises out of the death of the insured person | The amount due at the date of death (excluding any arrears) under the agreement specified in the contract |
2 | A claim that arises out of the total disablement of the insured person | The sum of the amounts falling due under the agreement specified in the contract in respect of each day during the period during which the insured person is so disabled |
3 | A claim that arises out of the insured person becoming unemployed | The sum of the amounts falling due under the agreement specified in the contract in respect of each day during the period during which the insured person is unemployed |