For renewal of existing policies of the company the waiting period will continue to be the one specified under the existing policy. A letter to this effect must be sent to all the existing policyholders well in advance of the renewal date. This benefit shall not be allowed on renewal of policy of other companies', being proposed for insurance now, to our Company.
12. FAMILY PACKAGE POLICY : A Proposer above 45 years applying for Individual Mediclaim Policy (fresh / renewal) shall be covered only under Family package policy, (i.e. alongwith all members of his family) Sum Insured will be dentical for all family members, except as defined in 5 above.
Proposals exceeding sum insured of Rs. 3 lacs in the age band '45 to 60 years 'and Rs. 2 lacs in the age band 'beyond 60 years' shall be accepted only by the Chief Regional Manager /Dy.G.M./ I/c.
A person who had been covered for a higher sum insured prior to his attaining the age of 45 years may continue with the higher sum insured upon attaining the age of 45 years.
13. FAMILY DISCOUNTS: A discount of 10% will be allowed provided all family members of the Insured are covered. A suitable proof in support of family members is to be obtained e.g. attested photocopy of ration card or attested photo with names written.
14. EARLY ENTRY DISOUNT: Is a feature introduced in the modified policy.
If a person takes the Mediclaim Policy before attaining the age of 45 years and and renews it continuously without break, then at each renewal ( till 55 years ) 5% discount subject to maximum of 25% will be given, till he / she reaches the age of 55 years provided incurred claims ratio for all these years in aggregate is less than 50%. |
