| 8- Oriental Insurance Company Limited - Family Floater Policy Wording |
|
| Source: Website of The Oriental Insurance Company Limited |
|
| 3.22.PERSONAL ACCIDENT COVER: (WORLD – WIDE) |
|
| SCOPE OF COVER: |
|
| If at any time during the currency of the policy the insured sustains any bodily injury resulting solely and directly from accident caused anywhere in the world by external, violent and visible means, then the Company undertakes to pay the insured or his/ her legal personal representative, as the case may be, the following sums : |
|
| Benefit Covered |
Description |
Amt. Payable |
| 1. |
Accidental Death only |
100 % of CSI |
| 2. |
Loss of Two entire limbs, or sight of two eyes or one entire limb and sight of one eye. |
100 % of CSI |
| 3. |
Loss of one entire limb or Sight of one eye |
50 % of CSI |
| 4. |
Permanent Total Disablement resulting in The insured becoming in engaging in any Employment or occupation whatsoever. |
100 % of CSI |
|
|
EXCLUSIONS:
THE COMPANY SHALL NOT BE LIABLE UNDER Personal Accident benefits for injuries/ death on account of: |
|
(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. |
|
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. |
|
| 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%. |
|
| The position of No Claim Discount (NCD)/ Loading on premium SHALL be as per illustration below: |
|
| 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 |
|
|
|
|
