Page 184 - IC38 GENERAL INSURANCE

The cover is granted in US Dollars and generally varies from USD 100,000 to
USD 500,000. For the section covering medical expenses evacuation,
repariation, which is the main section. For other sections the S.I. is lower,
expect for the liability cover. Premiums can be paid in Indian rupees except
in the case of the employment plan where premium has to be paid in
dollars. The plans are usually of two types:

 World-wide excluding USA / Canada
 World-wide including USA / Canada

Some products provide for cover in Asian countries only, Schengen countries
only etc.

1. Corporate frequent travellers plans

This is an annual policy whereby a corporate/employer takes individual policies
for its executives who frequently make trips outside India. This cover can also
be taken by individuals who fly overseas many times during a year. There are
limits on the maximum duration of each trip and also the maximum number of
trips that can be availed in a year.

An increasingly popular cover today is an annual declaration policy whereby an
advance premium is paid based on the estimated man days of travel in a year by
a company‟s employees.

Declarations are made weekly / fortnightly on the number of days of travel
employee wise and premium is adjusted against the advance. Provision is also
given for increase in the number of man days during the currency of the policy,
as it gets exhausted on payment of additional advance premium.

The above policies are granted only for business and holiday travels.

Common exclusions under the OMP include pre-existing diseases. Persons with
existing ailments cannot obtain cover for taking treatment abroad.

The health related claims under these policies are totally cashless wherein each
insurer ties up with an international service provider with network in major
countries who service the policies abroad.

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