Mother-Teresa-Women-Children-Policy

We Cover
All sections of women in the age group 10 to 75 years irrespective of their income occupation or vocation can be covered under the policy.

SECTION I : ECONOMIC SECURITY SCHEME TO WOMEN

Basic Cover



For Death -
For married women - Policy provides compensation of Rs.25 0 in the event of death of husband due to accident.

For unmarried women - Policy provides compensation of Rs. 25 0 the event of death of the insured to the nominee/legal heir.

Additional Cover For Women



Death/Disablement would mean not only Death/Disablement arising out of accident but also include death during child birth at hospital and surgical operation such as sterilization cesarean hysterectomy and removal of breast due to cancer provided that it occurs within 7 days from the date of operation.

Premium
Rs.15/- per woman per annum for the basic cover and Rs.23/- per woman per annum for both basic and additional cover.

Additional Accident Cover for Wife
As a special case we can consider in the event death due to accident of married women husband gets the compensation of Rs.25 0 with an additional premium of Rs.9/-. This cover is only death due to accident and disablement is not considered under the policy.

Discounts
Group discount varies from 5% to 30% based on the group size. Long Term Discount ranges from 5% to 20 depending upon the period of insurance.

Unique Features
Policy provides cover not only for the disablement of women but also for the death of her husband.
Additional cover provides for Temporary Total Disablement and also for loss/ damage to household goods.

SECTION 2 - INSURANCE COVER APPLICABLE TO CHILDREN

Basic Cover
Cover is applicable to two children in the age group of 0 to 18 years whose parents age does not exceed 60 years.

Cover is to provide relief to insured children in the case of death of either/both of the parents arising out of accident.

In the event of death of the parent(s) Rs.25 0 will be deposited in the name of the child with the GIC Asset Management Co. Ltd. and the benefits will be provided as under -

Benefits Provided



In the event of the death of the children before attaining 18 years the balance amount standing to the credit of the children will be paid to the surviving parent/guardian.

Premium
Rs.15/- per child per annum.(coverage limited to two children only and the premium would be Rs.30/- per annum.)

Discount
Varies from 5 to 30% depending upon the group size.

Unique Features
Relief to the children in the event of death of any of the parents

Relief to orphaned children for maintenance and education

Lump-sum payment on attaining the age of 18 completed years

Hence the total premium for a comprehensive policy would as follows:
i. Rs.32/- for comprehensive cover to the women inclusive of husband
ii. Rs.30/- for two children

Totaling Rs.62/- only for the entire family cover.

The insured can either opt -
A full family cover for Rs.62/- or

Section I - only for Rs.32/-or

Section II - only for Rs.30/- as per their need.

In case the premium is routed through a single source the applicable discount would be the highest and the premium at the lowest.