| 8- Family Floater Coverage -Oriental Insurance Company Limited - Policy Wording |
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THE ORIENTAL INSURANCE COMPANY LIMITED,
Regd. Office: Oriental House, P.B. No. 7037, A-25/27, Asaf Ali Road, New Delhi- 110 002 |
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| EXCLUSIONS: THE COMPANY SHALL NOT BE LIABLE UNDER Personal Accident benefits for injuries / death on account of: |
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(a) Self - injury, suicide or attempted suicide.
(b) Whilst under the influence of alcoholic drinks or drugs.
(c) Engaging in aviation activities other than travelling as a passenger (in a
duly licensed standard type of aircraft) anywhere in the world.
(d) Venereal disease or insanity.
(e) Whilst committing any breach of law with criminal intent.
(f) War and allied perils.
(g) Nuclear explosion.
(h) Pregnancy,childbirth or consequences thereof. |
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| 3.23 NO CLAIM DISCOUNT / LOADING: A discount of 5% on the premium, in respect of each claim free year, subject to a maximum of 20 % SHALL be allowed provided the policy is renewed with the company without any break. In case any claim is admitted under the policy, the entire No Claim Discount earned SHALL be forfeited in the next renewal of the renewal of the policy. However, the No Claim Discount SHALL continue to accrue afresh from the next claim free year. |
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| In case any claim is admitted under the policy, where No Claim Discount has not accrued or the earned No Claim Discount has been forfeited, a loading SHALL be levied on the renewal premium @5% for each claim occurred year subject to a maximum of 20%. |
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| The position of No Claim Discount (NCD) / Loading on premium SHALL be as per illustration below: |
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| Status of No Claim Discount (NCD) /Loading in the expiring policy |
In the event of NO CLAIM, the position of No. Claim Discount (NCD) / Loading in renewal policy |
In the event of CLAIM, the position of No. Claim Discount (NCD) / Loading in renewal policy |
| 0 % NCD / Loading |
5 % NCD |
5 % Loading |
| 5 % NCD |
10 % NCD |
0 % NCD / Loading |
| 10 % NCD |
15% NCD |
0 % NCD / Loading |
| 15 % NCD |
20% NCD |
0 % NCD / Loading |
| 20 % NCD |
20% NCD |
0 % NCD / Loading |
| 5 % Loading |
0 % NCD / Loading |
10 % Loading |
| 10 % Loading |
5 % Loading |
15 % Loading |
| 15 % Loading |
10 % Loading |
20 % Loading |
| 20 % Loading |
15 % Loading |
20 % Loading |
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4.EXCLUSIONS:
The Company shall not be liable to make any payment under this policy in respect of any expenses whatsoever incurred by any Insured Person in connection with or in respect of: |
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| 4.1 Pre-existing health condition or disease or ailment / injuries: Any ailment / disease / injuries / health condition which are pre-existing (treated / untreated, declared / not declared in the proposal form), in case of any of the insured person of the family, when the cover incepts for the first time, are excluded for such insured person upto 4 years of this policy being in force continuously. |
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| For the purpose of applying this condition, the date of inception of the policy taken from the Company, for each insured person of the family, shall be considered, provided the renewals have been continuous and without any break in period. |
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| This exclusion will also apply to any complications arising from pre existing ailments / diseases / injuries. Such complications shall be considered as a part of the pre existing health condition or disease. To illustrate if a person is suffering from hypertension or diabetes or both hypertension and diabetes at the time of taking the policy, then policy shall be subject to following exclusions. |
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