Section I

Urban House Holders Insurance

  1. Householder’s comprehensive Insurance policy.
  2. Personal Accident Insurance Policy
  3. Janata Personal Accident Insurance Policy
  4. Mediclaim Insurance Policy
  5. Jan Arogya Beema Insurance Policy
  6. Overseas Mediclaim Insurance Policy
  7. Motor Vehicle Insurance Policy
  8. Transit Insurance for household Goods Policy
  9. Shopkeepers Comprehensive Insurance Policy

HOUSEHOLDER’S INSURANCE

WHAT IS INSURED?

Covers against loss/damage to

  • Building and its contents * Jewellery and valuables * Plate Glass
  • Domestic appliances * TV, VCR, Audio systems etc. * Pedal Cycle * Baggage while on travel * Accident injury causing death/disability * Liability to third parties and domestic servants.

WHO CAN INSURE?

Any householder exposed to any of the above contingencies.

Cover under ten sections with option to choose more than four sections for availing discount in premium (Choosing more than four but up to six –15% and choosing more than Six-20%). Cover against contents is compulsory under section 1B.

SECTION 1A

Building (of class A construction only)

SECTION 1B

Contents: Belonging to the propose and members of his family permanently residing with him.

PERILS COVERED

Fire, lightning, acts of God, Riot and Strike, impact, explosion of gas in domestic appliances, overflow of water tanks.

PREMIUM RATE

Rs. 0.65 paise for every Rs. 1000/-

A few losses not covered

Loss or damage to documents bonds etc. precious stones, jewellery, cash and valuables.

SECTION 2

BURGLARY, HOUSE-BREAKING INCLUDING LARCENY & THEFT

This section covers Loss or damage to the contents whilst contained in the insured premises by Burglary and/or Housebreaking including larceny and theft. The sum insured under this section will be the same as the sum insured under section 1B for contents in the building. However, the cover excludes jewellery, Gold and Silver articles, Cash, Bonds and Securities.

PREMIUM RATE

Rs. 2.40 for every Rs.1000/- of sum insured.

A few losses not covered

  1. Loss or damage to live stock, motor vehicles and pedal cycles
  2. Loss or damage to Moneys, Securities for Money, Stamps, Bullion, Bonds, Bills of exchange, share certificates, documents of any kind, unset precious stones, jewellery and valuables.

SECTION 3

ALL RISKS

This section covers loss or damage to jewellery and valuables viz.Cameras, trinkets etc. due to accident or misfortune anywhere in India.

N.B. it is advisable to give separate sum insured for each item to be insured.

PREMINUM RATE:

Rupees 10.05 for every Rs. 1000/- of Sum Insured

A few losses not covered:

  • Denting,Cracking,Scratching or breakage of lens or glass
  • Loss or damage caused by moth, vermin
  • Loss or damage during cleaning, dyeing, repairing etc.
  • Mechanical derangement or over-winding of clocks, watches, etc.
  • Loss or damage whilst being covered conveyed by any carrier under contract of affreightment.

SECTION 4

PLATE GLASS

This section covers accidental breakage to fixed plate glass in the insured building.

PREMIUM RATE:

Rs.10.00 for every Rs. 1000/- of Sum Insured.

A few losses not covered:

  1. Breakage during removal, alteration or repairs.
  2. Breakage/disfigurement of lettering on the glass
  3. Breakage or damage to frames.
  4. Any consequential loss.

SECTION 5

BREAKDOWN OF DOMESTIC APPLIANCES

This section covers unforeseen and/sudden physical damage caused by and/or slowly due to mechanical and/or electrical breakdown of domestic electrical/electronic or mechanical appliances, apparatuses or gadgets whilst contained in or fixed at the insured premises.

Sum Insured:

Shall be equal to the cost of replacement of the insured property by new property for the same kind.

PREMIUM RATE:

Rs. 2.50 for every Rs. 1000/- of Sum Insured.

A few losses not covered:

  1. Loss or damage caused by arising out of wilful act or gross negligence of the insured.
  2. Loss or damage due to faults existing at the time of commencement of the insurance known to the insured regardless of whether such faults or defects were known to the company or not.
  3. Loss or damage for which the manufacturer or supplier of the property is responsible either by law or under contract.
  4. Cost of transport to the repair shop and back to the insured premises of any insured item arising out of any damage to such item.

N.B. EXCESS CLAUSE is applicable as per the policy conditions.

SECTION 6

TELEVISION SETS:

This section covers loss or damage to the television apparatus whilst contained or fixed in the insured premises by fire and allied perils, Burglary and /or Housebreaking or theft, accidental external means and mechanical and electrical breakdown.

PREMIUM RATE:

Rs. 10.05 for every Rs. 1000/- of Sum Insured.

N.B: Television apparatus shall mean and include the television set, the accessories forming part of set and Antenna both external and internal.

A few losses not covered:

  1. Loss or damage to External antenna or fittings by theft unless the Television Apparatus itself is stolen at the same time.
  2. Loss or damage caused by or arising out of or traceable to erection, repairing or dismantling of the Television Apparatus.
  3. Loss or damage for which the manufacturer or supplier of the television Apparatus is responsible either by law or contract.
  4. Liability assumed by the insured by agreement unless such liability could have attached to the insured notwithstanding such agreement.

SECTION 7

PEDAL CYCLE

This section covers loss or damage to pedal cycle by fire and allied perils, burglary, theft and accident. 4 legal liability for bodily injury and/or property damage to Third Party is also covered up to a limit of Rs. 10,000 per year.

PREMIUM RATE:

Rs. 20.05 for every Rs. 1000/- of Sum Insured.

A few losses not covered:

  1. Mechanical breakdown
  2. Theft of extra fittings only, on the cycle
  3. Loss or damage while racing or while given on hire.
  4. Loss of Rs. 10/- or less

SECTION 8

BAGGAGE

This section covers loss or damage to the accompanied baggage of the policy holder by accident or misfortune while he is travelling anywhere in India.

PREMIUM RATE:

Rs. 7.55 for every Rs. 1000/-of Sum Insured.

A few losses not covered:

Cash or jewellery, travelling tickets, edible articles, etc. losses during routine travel.

SECTION 9

PERSONAL ACCIDENT

This section covers the policy holders, his/her spouse and children. Persons within the age group of 5 to 70 years can be covered. It covers death, permanent total disablement, permanent partial disablement and temporary total disablement caused by accident. Scope of cover is worldwide though claims are payable in India and in Indian Rupees only.

PREMIUM RATE:

As per table rate for various benefits chosen.

Rate of premium per mille (in rupees)

Table

Risk
Group I

Risk
Group II

Risk
Group III

I Death only

0.45

0.60

0.90

II Death, Permanent Total Disablement

0.65

0.90

1.30

III Death, PTD & Permanent Partial
Disablement

0.95

1.25

1.75

IV Death, PTD, PPd & Temporary
Total Disablement

1.50

2.00

3.00

TTD at 12% of Capital Sum Insured per week upt o maximum 104 WEEKS. Maximum weekly benefit not to exceed Rs. 3000/-

A few losses not covered:

Natural death, war and nuclear risks, self-injury, suicide.

ADDITIONAL COVERS:

  1. Medical expenses arising from accident, up to 10% of CSI or 25% of admissible claim whichever is lower at additional premium of 10% of the basic premium.
  2. Actual expenses in respect of carriage of dead body of the insured to his residence subject to limit of 2% of CSI or Rs. 2500/- whichever is lower

SECTION 10

PUBLIC LIABILITY

This section covers Legal Liability to Third Party for personal injury or property damage upto limit of Rs. 25,000/- per year.

It also covers policy holders legal liability to his /her domestic servant as an employer.

PREMIUM RATE:

Around Rs. 0.50 for every Rs. 1000/- of sum insured. The rate of premium for domestic servants is as per WC tariff.

A few losses not covered:

  1. Liability to family members of the policy holders.
  2. Liability for accidents involving animals, vehicles or crafts owned or possessed by policy holders.

PERSONAL ACCIDENT INSURANCE POLICY

This insurance, covers accidents caused to the policyholder. Persons within age group of 5 to 70 years can be covered under this insurance. Persons above 70 years can also be covered subject to extra premium and reduction in the benefits. Scope of cover and premium rate:

Following details will given an idea of the scope of cover and the premium rates.

Table

Risk
Group I

Risk
Group II

Risk
Group III

I Death only

0.45

0.60

0.90

II Death, Permanent Total Disablement

0.65

0.90

1.30

III Death, PTD & Permanent Partial
Disablement

0.95

1.25

1.75

IV Death, PTD, PPd & Temporary
Total Disablement

1.50

2.00

3.00

TTD at 1% of Capital Sum Insured per week upto maximum 104 WEEKS. Maximum weekly benefit not to exceed Rs. 3000/-

Cumulative Bonus

Benefits under item (1) to (3) earn on renewal, cumulative bonus @ 5% per year but not exceeding 50% of the Capital Sum Insured.

Additional Benefits

  1. Transportation Expenses incurred for carriage of dead body of insured (death due to accident only) to place of residence subject to a maximum of 2% of Capital Sum Insured or Rs. 2500/- whichever is less.
  2. Medical Expenses arising out of an accident upto 10% of Capital Sum Insured or 25% of the admissible claim amount whichever is less at an additional premium of 10%
  3. Education Fund for the dependent children of the insured, following death or permanent total disablement as detailed be low
  1. If the insured has one dependent child below the age of 23 years ,an amount equal to 10% of the Capital Sum Insured, subject to a maximum of Rs. 5000/-
  2. If the insured has more than one dependent child below the age of 23 years an amount equal to 10% of the Capital Sum Insured, subject to a maximum of Rs. 10,000/-

Accidents anywhere in the world are covered but claims are payable in India and in Indian Rupees.

Family Package Cover

If the policyholder covers members of his family also for personal accident insurance, 5% discount on gross premium can be given.

Scope of cover

  1. Policyholder, 100% of capital sum insured.
  2. Spouse:
  1. If earning, 100% of capital sum insured.
  2. If not earning, 50% of capital sum insured.
  1. Children: from 5 to 19 years of age, 25% of capital sum insured or Rs. 50,000/- whichever is less, per child. For any child, cover will be limited to benefits 1 to 3 of the Table of Benefits.

A few illustrations of losses not covered

  1. Any existing disablement.
  2. Death, injury or disablement due to intentional self-injury,
  3. Disablement or death under influence of liquor or drug.
  4. Insanity
  5. Breach of law, criminal intent
  6. War risks
  7. Nuclear risks

JANATA PERSONAL ACCIDENT INSURANCE POLICY

The Janata Accident Policy is also a type of personal accident insurance policy. But as the name "Janata" suggest, it is meant for low income group.

Capital Sum Insured under a Janata Personal Accident Insurance Policy is Rs. 25,000/- with the following scope of cover.

1.

Death due to accident

Rs. 25,000/-

2.

Permanent Total Disablement

Rs. 25,000/-
 

(PTD) due to accident

  

3.

Loss of one eye or one limb

Rs. 12,500/-

4.

Loss of two limbs, one eye
and one limb or both eyes

Rs. 25,000/-

Premium Rate:

Policy can be taken for multiples of Rs. 25,000/- and in which case premium rates given below are to be multiplied accordingly.

Policy can be taken for maximum period of 15 years and maximum sum insured of Rs, 10 lakhs. The premium for a Capital Sum insured of Rs. 25,000/- are as follows

Period

Premium

Period

Premium

Period

Premium

(Years)

(Rs.)

(Years)

(Rs.)

(Years)

(Rs.)

1

12.50

6

43.75

11

75.00

2

18.75

7

50.00

12

81.25

3

25.00

8

56.25

13

87.50

4

31.25

9

62.50

14

93.75

5

37.50

10

68.75

15

100.00

A few illustrations of losses not covered:

  1. Any existing disablement
  2. Death, injury or disablement due to intentional self-injury, suicide.
  3. Disablement or death under influence of liquor or drug.
  4. Death or disablement during racing, hunting, mountaineering, ice hockey, winter sports
  5. Insanity
  6. Breach of law with criminal intent.
  7. War risks.
  8. Nuclear risks.
  9. Natural death.

Special Conditions:

In case of long term policy

  1. The premium should be paid in advance in one lump-sum amount
  2. No refund of premium will be allowed even if the claim arises before expiry of the long term policy.
  3. Age of the proposer should not exceed 70 years at the end of long term policy.

MEDICLAIM INSURANCE POLICY

Mediclaim Insurance policy covers medical and surgical expenses incurred for impatient treatment in hospitals and nursing homes for illness and injuries.

The cover is available for medicines, hospital accommodation, nursing expenses, surgeons and physicians fees and diagnostic expenses incurred within India for treatment of diseases subject to the limit of total sum insured. The sum insured can be selected from a minimum of Rs. 15,000/- to a maximum of Rs. 3.00.000/-

The policy also covers Domiciliary Hospitalisation i.e. treatment normally requiring hospitalisation but taken at home under medical approval and advise in view of the patient not being able to be take to the hospital or lack of accommodation in the hospital, subject to the following limits:

 

Total sum insured (TSI)
under the policy

Coverage for
Domiciliary treatment

1.

Upto Rs. 1,00,000/-

20% of SI

2.

Above Rs. 1,00,000/-

1+15% of SI over Rs. 1,00,000/-

3.

Above Rs. 2,00,000/-

1+2+10% of SI over Rs. 2,00,000/-

Domicilliary Hospitalisation does not cover the following diseases:

  1. Asthma
  2. Bronchitis
  3. Chronic Nephritis and Nephrotic Syndromes
  4. Diarrhea and all types of Dysentery Gastro-enteritis
  5. Diabetes, Mellitus and Insipidus
  6. Epilepsy
  7. Hypertension
  8. influenza, Cough and cold
  9. All Psychiatric or Pyschosomatic Disorders
  10. Pyrexia of unknown origin for less than 10 days
  11. Tonsillitis and Upper Respiratory Tract infection including Laryngitis and Pharyngitis
  12. Arthritis, Gout and Rheumatism

The Mediclaim Insurance Policy operates for illness or injuries requiring minimum period of hospitalisation for 24 hours. For Domiciliary hospitalisation, the cover operates for treatment exceeding three days.

Premium rate:

Premium rate depends upon the age of the policy holder/insured person. For this purpose there are five age bands as follows:

  1. Upto 45 years
  2. From 45 to 55 years
  3. From 56 to 65 years
  4. From 66 to 70 years
  5. From 71 to 75 years

The following schedule gives the premium payable for differing total sum insured.

Sum insured (overall liability)

Limit of liability for Domiciliary Hospitalisation
(Rs.)

Upto 45 years

45-55
years

56-65
years

66-70
years

71-75
years

15000

3000

175

240

275

310

330

20000

4000

225

310

355

395

425

25000

5000

280

390

440

495

530

30000

6000

300

415

470

525

555

35000

7000

320

440

500

560

600

40000

8000

445

615

700

780

835

45000

9000

500

690

785

880

940

50000

10000

555

765

870

975

1045

55000

11000

615

845

960

1075

1150

60000

12000

645

885

1010

1130

1210

65000

13000

700

960

1090

1225

1310

70000

14000

755

1035

1175

1315

1410

75000

15000

805

1110

1260

1410

1510

80000

16000

860

1185

1345

1505

1615

85000

17000

915

1260

1430

1605

1720

90000

18000

970

1335

1515

1695

1820

95000

19000

1025

1410

1600

1780

1920

100000

20000

1075

1480

1635

1885

2020

105000 to

150000

20000 + 15% of SI over 1 lakh

1075 + 1% of SI over 1 lakh

1480 + 1.40% of SI over 1 lakh

1685 + 1.80% of SI over 1 lakh

1885 + 1.80% of SI over 1 lakh

2020 + 2.00% of SI over 1 lakh

155000
to
200000

20000 + 15% of SI over 1 lakh

1575 + 90% of SI over 1.5 lakh

2180 + 15% of SI over 1.5 lakh

2485 + 1.50% of SI over 1.5 lakh

2785 + 1.70% of SI over 1.5 lakh

3020 + 1.90% of SI over 1.5 lakh

205000
to
300000

35000 + 10% of SI over lakh

2075 + 0.80% of SI over 2

2830 + 1.2% of SI over 2 lakh

3185 + 1.40% of SI over 2 lakh

3635 + 1.60% of SI over 2 lakh

3970 + 1.80% of SI over 2 lakh

Family Discount

Discount of 10% in the total premium will be allowed if the policy holder includes his/ her spouse or dependent children or dependent parents.

Cumulative Bonus

If the policy is continuously renewed, the total sum insured under the policy will be progressively increases by 5% for every claim free year subject to a maximum accumulation of 10 claim free years.

Cost of Health Check-up

If the policy is continuously renewed, the policyholder will also be eligible for reimbursement of cost of medical check up at the end of every 4 claim free years, subject to a limit of 1% of the average sum insured for the 4 years.

Waiting period for the first years policy

There is a waiting period of 30 days i.e. illness occurring and hospitialisation expenses incurred during the 30 days from the date of insurance policy are not covered.

A few illustrations of Losses not covered

  1. Diseases or symptoms existing prior to taking first insurance
  2. Treatment of the following disease during the first year
  3. Cataract, Benign Prostatic Hypertrophy, Hysterectomy for Menorrhagior Fibromyoma, Hernia, Hydrocele, Congenital Internal disease, Fistula in anus, piles, sinusitis and related disorders.
  4. Cosmetic or aesthetic treatment
  5. Cost of spectacles, contact lenses and hearing aids.
  6. Dental treatment
  7. Treatment of general weakness, run-down condition
  8. Treatment for congenital diseases or defects, veneral diseases, infertility, intentional self injury, drugs/alcohol addiction.
  9. AIDS and any similar syndrome
  10. Diagnostic expenses not forming part of in-patient treatment in hospitals or nursing homes
  11. Diseases/injuries caused nuclear materials or weapons
  12. Pregnancy and child birth
  13. Voluntary termination of pregnancy
  14. Naturopathy treatment
  15. Expenses on un-prescribed vitamins and tonics.

Tax Benefits

Premium paid for this insurance upto Rs. 10,000/- qualifies for tax benefit under Sec. 80D of Income Tax Act.

JAN AROGYA POLICY

The Jan Arogya Bima Policy is medical insurance policy catering to the needs of lower income group. The policy covers expenses for in-patient treatment in hospitals and nursing homes for illness and injuries.

The policy also covers Domicilliary hosputalisation i.e. for treatment normally requiring hospitalisation, but taken at home under medical approval and advise in view of the patient not being able taken to hospital or lack of accommodation in hospital.

However, domiciliary hospitalisation does not cover the following diseases:

  1. Asthma
  2. Bronchitis
  3. Chronic Nephritis and Nephrotic Syndromes
  4. Diarrhea and all types of Dysentery Gastro-enteritis
  5. Diabetes, Mellitus and Insipidus
  6. Epilepsy
  7. Hypertension
  8. influenza, Cough and cold
  9. All Psychiatric or Pyschosomatic Disorders
  10. Pyrexia of unknown origin for less than 10 days
  11. Tonsillitis and Upper Respiratory Tract infection including Laryngitis and Pharyngitis
  12. Arthritis, Gout and Rheumatism

The expenses are payable under the following heads;

  1. Room rent, and boarding expenses at the hospital or nursing home
  2. Nursing expenses
  3. Consultant’s, Specialist’s, fees.
  4. Anesthesia, Blood, Oxygen, Operation Theatre Charges, Surgical Appliances, Medicines and Drugs, Diagnostic Maerials and X-ray, Dialysis, Chemotherapy, Radiotherapy, cost of Pacemaker, Artificial Limbs and cost or organs and similar expenses.

The policy can be issued to persons in the age group of 5 years to 70 years.

Sum insured:

The sum insured per person per year is Rs. 5000/-

Premium rate

Annual Premium payable for a sum insured of Rs. 5000/- per person will be as per the following table.

Age of the person

Upto
46 years

46-55
years

56-65
years

66-70
years

Insured Head of the family

70

100

120

140

Spouse

70

100

120

140

Dependent child

50

50

50

50

Upto 25 years of age For family of 2+1

190

250

290

330

Dependent child For family 2+2

240

300

340

380

Dependent children

        

Waiting period

The first policy is subject to a waiting period of 30 days in respect of illnesses i.e. illness occurring and hospitalisation expenses incurred during the first 30 days are not covered. This waiting period is not applicable for renewals.

A few illustrations of Losses not covered

  1. Diseases or symptoms existing prior to taking first insurance
  2. Treatment of the following disease during the first year
  3. Cataract, Benign Prostatic Hypertrophy, Hysterectomy for Menorrhagior Fibromyoma, Hernia, Hydrocele, Congenital Internal disease, Fistula in anus, piles, sinusitis and related disorders.
  4. Cosmetic or aesthetic treatment
  5. Cost of spectacles, contact lenses and hearing aids.
  6. Dental treatment
  7. Treatment of general weakness, run-down condition
  8. Treatment for congenital diseases or defects, veneral diseases, infertility, intentional self-injury, drugs/alcohol addiction.
  9. AIDS and any similar syndrome
  10. Diagnostic expenses not forming part of in-patient treatment in hospitals or nursing homes
  11. Diseases/injuries caused nuclear materials or weapons
  12. Pregnancy and child birth
  13. Voluntary termination of pregnancy
  14. Naturopathy treatment
  15. Expenses on un-prescribed vitamins and tonics.

Tax Benefits

Premium paid for this insurance upto Rs. 10,000/- qualifies for tax benefit under Sec.80D of Income Tax Act.

OVERSEAS MEDICLAIM INSURANCE POLICY

Overseas Mediclaim Insurance Policy covers medical expenses incurred while on foreign travel, for business and holidays.

The special feature of the policy as a benefits is that premium is payable in Indian Rupees, whilst claimst are payable abroad, in foreign currency.

There are five plans of coverage available as under:

Plan

Countries

Limit

Plan A

World-wide excluding-USA & Canada

US $ 50,000/-

Plan B

World-wide including-USA & Canada

US $ 1,00,000/-

Plan C

World-wide Employment and studies
excluding-USA and Canada

US $ 75,000/-

Plan D

World-wide Employment and studies
including-USA and Canada

US $ 75,000/-

Plan E

Annual World-wide for Corporate
Frequent Traveler

US $ 1,00,000/-

Policy Coverage

  1. The policy covers emergency medical expenses reasonable and necessarily incurred in foreign currency whilst in abroad arising from sudden unforeseen sickness or an unfortunate accident, subject to policy limits.
  2. In case the insured person is evacuated to India, insurers will pay such expenses in India also if ‘Mercury’ recommends continued treatment.
  3. Additionally, in case of unfortunate death, preparation and transportation of mortal remains by air to India or an equivalent amount for funeral expenses at the country of visit.
  4. Expenses for medical evacuation including transportation and medical enroute to the nearest suitable hospital when critically ill or injured and no suitable local care is available, or to hospital in India or place of residence when deemed medically advisable by Programme Medical Advisors and the attending physician.

Additional free benefits for Plans A, B and E

  1. In-flight accidental death benefits, subject to limit of Us $ 10,000/-
  2. Loss of Passport Benefit, upto Us $150/-

Age limit

Policies are normally issued to persons between the age of 5 and 70 years. Beyond 70 years, covers are given in special cases, but at higher premium. Cover below 5 years of age but exceeding 6 months of age are also available, subject to the discretion of the company and certain exclusions.

Policy Formalities

  1. Filling-up of proposal form of the insurance company
  2. Medical selection procedure

This applies to persons above 60 years of age who propose to travel any where other than USA and Canada, and above 40 year of age for those who intend to travel to USA/Canada.

The Medical Report s are to be obtained from MD Cardiologist, and should include:

  1. ECG with its conclusion
  2. Fasting Blood Sugar/Urine sugar or Urione strip test
  3. Where ECG is normal, but medical history shows earlier heart ailment, computerised treadmill stress is required. If the treadmill stress is negative and the proposer is not under medication for more than 12 months prior is the company will give full cover.
  4. In case for genuine reasons the proposer cannot submit medical reports prior to obtaining the policy, the benefits under sickness and disease cover will be restricted to US $ 10,000/- This restriction will not apply to accident claims.

Main Exclusions under the policy

  1. Any claim due to the existence of a disease (pre-existing) at the commencement of the journey.
  2. Us $ 100/- in each and every claim
  3. Exclusion of specific diseases as disclosed in the medical history.

Period of cover

Upto 180 days in case of business or holiday travel. It is possible to obtain cover beyond 180 days also, by means of extensions prior to expiry of original policy by payment of extra premium.

Claim procedure

Claims are payable abroad in foreign currency. To help the insured person, the policy issuing office will attach alongwith the policy copy a claim form, all medical reports and the proposal form. The papers also contain advice on claim procedure.

The claim is processed and paid by:

Mercury International Assistance and Claims Ltd.

P.B. No. 673, Brighton, Sussex, BNI 4EZ UK.

M/s Mercury offers a 24-hour telephone facility with reverse charge call in UK as well as USA.

Cancellation of Policy

Where travel has been cancelled, the policy can be cancelled subject to retention of a minimum premium.

II CORPORATE FREQUENT TRAVELLER (CFT)
ANNUAL COVER PLAN ‘E"

World wide including USA & Canada

Age Brand
(Yrs)

Premium
(Rs)

18.40

3850

41.60

3850

61.70

7700

Employment & studies (E&S)

For periods exceeding 180 days the premium rates are quoted on ‘per month’ basis.

  1. Employment

Premium to be collected in Foreign Currency (US & Sterling) out of the Foreign Exchange earnings of the employer (corporate Client)

  PLAN ‘C’
(World wide excluding
USA & Canada)		 PLAN ‘D’
(World wide including
Group (yrs) 1 mth-17
yrs		 18-40
yrs		 41-60
yrs		 1 mth-17
yrs		 18-40
yrs		 41-60
yrs
Premium per person per
month or part thereof for
participant Accompanying
spouse/children		 US $ 23 US $ 27 US $ 31 US $ 40 US $ 47 US $ 65

B) Studies:

Premium to be collected in Indian Rupees

Premium per person per month
or part thereof for participant
/Accompanying spouse/children

Rs.
545

Rs.
650

Rs.
710

Rs.
910

Rs.
1045

Rs.
1495

MOTOR VEHICLE INSURANCE

As per the Motor Vehicle Act of 1988 The Act was repealed in the year 1988 and had some amendments in Nov. 1994 and its subsequent amendments, it is compulsory for vehicle owners to cover legal liability for loss or damage to third party as a result of an accident caused by a vehicle.

Insurance companies provide two types of Motor Policies namely Policy A and Policy B.

Policy A: (Commonly referred to as Act Insurance) Covers liability to third party as required under the motor Vehicles Act.

Policy B: (Commonly referred to as "Comprehensive Insurance") covers

  1. Loss or damage to the insured vehicle and
  2. Liability to Third Party Liability for personal injury death or property damage.

For the purpose of insurance premium rating, Vehicles are classified into the following four broad categories:

  1. Private cars
  2. Motorcycles, motor scooter etc.
  3. Commercial Vehicle, Goods carrying Vehicles.
  4. Passenger carrying vehicles.

Private Car Comprehensive Policy

The policy has two sections.

Section 1: This section covers loss or damage to motor car and its accessories due to the following causes:

  1. Accidental External means
  2. Fire
  3. External explosion
  4. Self-ignition]
  5. Frost
  6. Burglary, House-breaking
  7. Earthquake perils
  8. Flood etc. perils
  9. Riot, strike, Malicious damage and Terrorist act damage.

Item (g) to (I) can be deleted at the option of the policyholder.

The following losses are not covered under the policies:

  1. Indirect or consequential losses.
  2. Depreciation or wear and tear.
  3. Mechanical / electrical break down.
  4. Loss or damage to tyres only.

Section II: This section covers liability to Third party for personal injury and property damage.

Motorcycles Comprehensive Policy:

The cover under this policy is similar to the cover under Private Car comprehensive policy. But, the following losses are not covered:

  1. Loss or damage to the motorcycle and its accessories by frost.
  2. Loss or damage by theft or burglary of accessories only.

General:

  1. Towing Charges from place of accident are payable upto specified limits under Comprehensive insurance.
  2. Under Comprehensive Insurance, insured is allowed to get temporary repairs down to the damage vehicle upto specified limits.

Premium rate:

There is detailed tariff giving premium rates for different categories of vehicles.

The rates depend upon various factors such as Sum Insured, Type of Cover, Engine Cubic Capacity, Use of Vehicle, Carrying, Place of Use, etc.

Bonus Malus:

For claims free experience, insured is entitled to ‘no claim discount’ at renewal. Similarly, for vehicles having claims, premiums are loaded on renewal.

TRANSIT INSURANCE FOR HOUSEHOLD GOODS

It is possible to cover household goods for loss or damage during transportation form one place to another in India. Under an Inland Transit Policy. The policy covers transportation by road, rail, air etc.

There are basically two types of policies available namely:

  1. Road/ Rail Risks Policy: which covers loss of damage to the goods as a result of accident to the carrying vehicle.
  2. All Risks Policy: which covers all types of accidental loss or damage.

Householder will have to provide statement giving details, values, packing of the goods etc. which will form the basis of insurance.

Premium rate:

For the Basic Cover, the premium rate is around Rs.0.25 for Rs.100/- of sum insured. All Risks @1%

A few illustrations of losses not covered:

  1. Loss due to Delay.
  2. Loss due to inherent properties of the goods.
  3. Indirect losses.

SHOPKEEPERS INSURANCE

WHAT IS INSURED?

Covers shopkeepers/partner’s against loss/damage to

  • Building and its contents
  • Money in transit
  • Pedal cycles
  • Plate glass
  • Neon and glow signs
  • Baggage while on travel
  • Accidental injury causing death/disability
  • Liability to third parties and employees

WHO CAN INSURE?

Any shopkeeper exposed to any of the above contingencies.

WHAT ARE THE PERILS COVERED?

Cover under ten sections with option to choose more than four sections for availing discount in premium (Choosing more than four but up to six – 15% and choosing more than six-20%). Cover against contents is compulsory under sec. B.

SECTION 1A

Building (Of class A Constructions only)

SECTION 1B

Contents: Furniture, fixture and fittings and stock in trade but excluding money and valuables.

PERILS COVERED:

Fire, lightning, Acts of God, Riot and Strike, impact, explosion of gas in domestic appliances, Aircraft damage.

PREMIUM RATE:

Re. 2,55 for every Rs.1000/-

A few losses not covered

Loss or damage to documents bonds etc. precious stones, jewelry, cash and valuables.

SECTION 2

BURGLARY, HOUSE – BREAKING

This section covers loss or damage to the contents whilst contained in the insured premises by Burglary and/or Housebreaking. The sum insured under this section will be the same as the sum insured under section 1B for contents in the building.

PREMIUM RATE:

Rs.2.50 for every Rs.1000/- of sum Insured

A few losses not covered

  1. loss or damage to live stocks, motor vehicles and pedal cycles
  2. loss or damage to Moneys, Securities for money, stamps, bullion, bonds, bills of exchange, share Certificates, documents of any kind, unset precious stones, jewellery and valuables.

SECTION 3

MONEY IN TRANSIT:

This section covers loss or damage to money while in transit or while in safe or while in till or counter.

PREMIUM RATE:

Rupees 2.55 for every Rs.1000/- of Sum Insured.

A few losses not covered;

  1. loss of money where any employee of the insured is involved
  2. loss due to shortage or omission

SECTION 4

PEDAL CYCLE

This section covers loss or damage to pedal cycle by fire and allied perils, burglary, theft and accident.

Legal liability for bodily injury and/or property damage to Third Party is also covered up to a limit of Rs.10,000 per year.

PREMIUM RATE:

Rs.20.05 of every Rs.1000/- of Sum Insured.

A few losses not covered:

  1. Mechanical breakdown
  2. Theft of extra fittings only, on the cycle.
  3. Loss or damage while racing or while given on hire.
  4. Loss of Rs.10/- or less.

SECTION 5

PLATE GLASS

This section covers accidental breakage to fixed plate glass in the insured building.

PREMIUM RATE:

Rs. 10.00 for every Rs.1000/- of Sum Insured

A few losses not covered:

  1. Breakage during removal, alteration or repairs.
  2. Breakage/disfigurement of lettering on the glass.
  3. Breakage or damage to frames.
  4. Any consequential loss.

SECTION 6

NEON SIGN AND GLOW SIGN

This section covers unforeseen and/sudden physical damage caused by accidental external means, fire, lightning or external explosion, riot, strikes, malicious damage.

Premium rate: Rs. 10.05 for every Rs.,1000/- Sum Insured

A few losses not covered:

  1. Loss or damage caused by fusing or burning out of any bulb and or tubes from short-circuiting.
  2. Loss or damage due to action of sun, hail, rain, flood, bad weather.

SECTION 8

BAGGAGE

This section covers loss or damage to the accompanied baggage of the policy holder by accident or misfortune while he is travelling anywhere in India carrying trade samples and or personal effects of insured/partner.

PREMIUM RATE

Rs.7.55 for every Rs.1000/- of Sum Insured.

A few losses not covered:

Cash or jewellery, traveling tickets edible articles, etc.

SECTION 9

PERSONAL ACCIDENT:

This section covers the policyholders or any named partner or member of managerial staff or employees of the insured. Persons within the age group of 5 to 70 years can be covered. It covers death, permanent total disablement, permanent partial disablement and temporary total disablement caused by accident. Scope of cover is World-wide, though claims are payable in India and in Indian Rupees only.

A few losses not covered:

Natural death, war and nuclear risks, self-injury, suicide.

PREMIUM RATE:

As per table rate for various benefits chosen.

S
No

Table

Risk
group I

Risk
group II

Risk
group III

I

Death only

0.45

0.60

0.90

II

Death, Permanent
Total Disablement

0.65

0.90

1.30

III

Death, PTD & Permanent
Partial Disablement

0.95

1.25

1.75

IV

Death, PTD, PPD &
Temporary Total Disablement

1.50

2.00

3.00

TTD at 1% of Capital Sum Insured per week upto maximum 104 weeks. Maximum weekly benefit not to exceed Rs.3000/-

ADDITIONAL COVERS:

  1. Medical expenses arising from accident, up to 10% of CSI 25% of admissible claim whichever is lower at additional premium of 10% of the basic premium.
  2. Actual expenses in respect of carriage of dead body (death from accident) of the insured to his residence subject to limit of 2% of CSI or Rs.3000/- whichever is lower.

SECTION 10

PUBLIC LIABILTIY:

This section covers legal liability to Third Party for person injury or property damage up to limit of Rs.25,000/- per year.

It also covers policyholders legal liability to his employees as an employer under the Fatal Accidents Act, 1855 and Workmen compensation Act, 1923 or common

Law in respect of death or bodily injury to employees.

PREMIUM RATE:

The rate of premium is as per WC tariff

A few losses not covered:

  1. Liability to family members of the policyholders.
  2. Liability for accidents involving animals, vehicles or crafts owned or possessed by policyholder.

INSURANCE FOR URBAN HOUSEHOLDERS

General Claim Procedure and Do’s and Don’ts

  1. Intimate the loss in writing to the insurance company within the time mentioned on the policy.
  2. Complete the claim-form available from the insurance company.
  3. Normally, insurance company appoints a surveyor to assess the loss. Be ready with the loss/repair estimate at the time of survey.
  4. Don’t proceed with the repairs unless authorised by the surveyor or the insurance company.
  5. Take immediate steps to reduce the loss as if you are not insured.
  6. In case of theft or burglary, report the matter immediately to the nearest police station and obtain an acknowledgement.
  7. Substantiate your claim with original bills and receipts.
  8. In case of loss or injury to a third party, immediately report the matter to the Police Authorities as well as the Insurance Company. On receipt of any legal notice or summons, please inform your insurance company forthwith.

In case of Personal Accident claims for Death, Death Certificate and Post-mortem Certificate (if done) are required. For injury/disablement claim, Medical Reports/certificates are required.


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