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The Policy can be taken by an Educational Institution/ Schools for the benefit of the Students. The section C- Fire cover can be only taken by an Educational Institution/Schools.
Who can take the Policy?
The Policy can be taken by an Educational Institution/ Schools for the benefit of the Students. The section C- Fire cover can be only taken by an Educational Institution/Schools for insuring the property.
Eligibility age: The Student/Staffs can be enrolled under the policy from 3 years to 65 years
The insured can opt any Section / Benefit and Extension as detailed below and the premium would be charged on option of Section / Benefit and Extension as per the premium rate charged given in the sales prospectus.
What is covered under the Policy?
The Policy comprises of two sections, Section A is compulsory and rests all other Sections, Benefits; Extensions mentioned in the prospectus are optional.
I. Section A
The Company agrees to pay to the Insured a sum as compensation on occurrence of any Insured Event, under different Benefit(s) (Death / PTD / PPD) and extensions arising due to an Injury sustained during the Policy Period but not exceeding the Sum Insured as specified under the respective Benefits and extensions.
I.I. Benefits under Section A
Benefit 1 Death of the Parent resulting from Accident
Benefit 2 Permanent Total Disablement of the Parent resulting from Accident
Benefit 3 Permanent Partial Disablement of the Parent resulting from Accident
Benefit 4 Death of Student resulting from Accident
Benefit 5 Permanent Total Disablement of Student following an Accident
Benefit 6 Permanent Partial Disablement of the Student resulting from Accident
SECTION A: SCOPE
Upon happening of Accident, the Section A provides for below mentioned benefits to the Student and his/ her Parent (If Opted for Parents)
Death: 100% of Sum Insured becomes payable on occurrence of death of the Student or the Parent
Permanent Total Disablement: 100% of Sum Insured becomes payable on occurrence of Permanent Total Disablement of the Student and his/ her Parent
Partial Permanent Disablement: Compensation as per below % of Capital Sum Insured shall be payable upon happening of Partial Permanent Disablement on account of
Accident
What is not covered under the Policy?
Exclusions in respect of Accidental Claims (Applicable to Section A)
We will not pay you for:-
1. The insurance company liability during one annual policy period is limited to the sum insured under the policy, once the sum insured is exhausted on the payment of one or more than one claim during one annual policy period, further payment of claim amount exceeding the sum insured of the policy would be excluded.
2. Any existing physical defect, disablement/injury unless endorsed otherwise.
3. Death or disablement due to child birth or from pregnancy or in consequence thereof.
4. Payment of compensation in respect of injury, disablement or death -
a. From intentional self-injury, suicide or attempted suicide.
b. Whilst under the influence of liquor or drugs or other intoxicants.
c. Emotional distress
d. Whilst engaging in aviation or ballooning whilst mounting into, dismounting from or travelling in any aircraft or balloon other than as a passenger (fare paying or otherwise) in any duly licensed standard type of aircraft anywhere in the world.
e. Directly or indirectly, caused by venereal disease, AIDS or insanity.
f. Arising or resulting from the Parent/ Student committing any breach of law with criminal intent or participating in an actual or attempted felony, riot, crime, misdemeanor or civil commotion.
g. Whilst engaging in racing, hunting, mountaineering, ice hockey, winter sports and the like.
h. Due to war or ionizing radiation or nuclear perils.
i. Whilst working in underground mines or explosive mines, electric installation with high tension supply, or as jockey or circus personnel or any such occupations of similar hazard.
