| 8- Happy Family Floater Coverage from United India Insurance Company |
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| Source: Website of The Oriental Insurance Company Limited |
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ANY ONE ILLNESS: Any one illness SHALL be deemed to mean continuous period of illness and it includes relapse within 105 (one hundred and five) days from the date of discharge from the Hospital/ Nursing Home/ Day Care centre from where the treatment was taken. Occurrence of the same illness after a lapse of 105 (one hundred and five) days as stated above SHALL be considered as fresh illness for the purpose of this policy. |
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DAILY HOSPITAL CASH ALLOWANCE: When an insured member of the family is hospitalized and a claim is admitted under the GOLD plan of the policy, then the insured person SHALL be paid a daily cash allowance as specified in section 1.2 A f of the policy. |
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ATTENDANT ALLOWANCE: When an insured member of the family aged between three months to 10 years is hospitalized and a claim is admitted under the GOLD plan of the policy, a sum as mentioned in the table of benefit under 1.2 A g will become payable under the policy. |
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MIDTERM INCLUSION: Midterm inclusion of members is permitted for newly wed spouse only. Spouse can be included within three months of marriage or at the time of renewal of the policy. |
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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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FRAUD/ MISREPRESENTATION/ CONCEALMENT: Non-Disclosure, concealment or mis-representation of material facts in the Proposal Form and/ or in the Claim Form or any other documents, shall render the Policy null and void ab-initio and the Company shall not be liable under the policy. The Company shall also not be liable under this policy in respect of any claim if such claim be in any manner intentionally or fraudulently or otherwise misrepresented or concealed or on making false statements or submitting false bills whether by the Insured Person or Institution/ Organization on his behalf. Company shall be at liberty to take suitable legal action against the Insured Person/ Institution/ Organization as per Law. |
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