The LifeDAO Terms & Conditions

Terms and Conditions (T&C)

Contract Term	The LifeDAO membership Contract term is five years.
Contract Renewal	The Member may request to renew the Contract for another period if they remain eligible for membership.
Member Eligibility	Members aged between 20 and 60 years, calculated on an actual age basis. Members residing in countries with active war or under sanctions are not eligible for membership.
Membership Contributions	The Member agrees to pay the required contributions annually in advance on the anniversary date specified in the Membership Benefit Certificate.
Grace Period	28-day grace period, the Contract will be automatically churned If contributions are not paid within the grace period, and 100% of the Member's tokens will be burned immediately.
Benefit	If a Member dies while the Contract is active, The LifeDAO will pay the Benefit Amount to the Beneficiary, based on the Benefit Multiplier and fund performance. If the Member is alive at the end of the Contract Term, the Benefit will end automatically, and The LifeDAO will pay the Member their share of any surplus from the membership DAO fund, in line with the DAO bylaws.
Exclusions	Self-inflicted injury or suicide within the first three years of coverage Claims due to alcohol or drug abuse or overdose War, civil commotion, breach of law, invasion, hostilities, rebellion, revolution, military or usurped power, or participation in acts of violence Injury or illness caused by activities such as hunting, mountaineering, scuba diving, or hang-gliding Participation in any criminal act Murder by the Beneficiary Death due to pre-existing conditions within the first six months of the Contract commencement date Claims within the first three months from the Commencement Date unless the death is accidental
Beneficiary Designation	There must be an insurable interest between the member and the beneficiary.
Surplus Distribution	If fund performance is not sufficiently positive, no surplus will be distributed. If positive, the surplus will be distributed partially or fully to active Members in proportion to their token holdings, as decided by the DAO. For churned Contracts, the surplus will be paid on prorata basis.
Termination by The LifeDAO	If for whatever reason The LifeDAO cannot or can no longer offer membership to existing members based on their country or region of residence, the membership of such a member will be terminated. The member will be entitled to proportional reimbursement of their last contribution, based on the end date of the membership, excluding the Tech and Services fee, and minus any gas and handling costs directly related to the reimbursement.