| 8- Family Floater Coverage -Oriental Insurance Company Limited |
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| HappyFamily Floater Health Insurance from United India Insurance Company |
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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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| MEDICLAIM WITH OMP: |
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| In case where THE WHOLE FAMILY covered under THE FAMILY FLOATER Policy goes abroad by taking Oriental’s Overseas Mediclaim Policy his / her FAMILY FLOATER Policy becomes suspended for the period he / she is abroad. |
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| AND may be extended by number of days, the insured FAMILY was abroad subject to written request being made by the insured before leaving India. THE EXTENSION WONT BE APPLICABLE UNLESS THE ENTIRE FAMILY TAKES THE OPMP POLICY FROM THE COMPANY. |
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| DISCOUNT ON OMP PREMIUM : |
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| A DISCOUNT OF 15% ON Overseas Mediclaim Policy PREMIUM WOULD BE ALLOWED WHEN EVEN A SINGLE FAMILY member COVERED under the Happy Family Floater Policy, TAKES THE Overseas Mediclaim Policy FROM the Company, provided the happy family floater policy is valid as on the date of taking the Overseas Mediclaim Policy of the Company. |
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| 3. IRDA REGULATION NO 5: This policy is subject to regulation 5 of IRDA (Protection of Policy Holder interest) regulation. |
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| 4. IT EXEMPTION: The premium under the policy is eligible for Income Tax exemption under Section 80-D of the IT Act. |
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| The position of No Claim Discount (NCD) / Loading on premium SHALL be as per illustration below: |
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