Page 48 - Marine Insurance IC67 EBOOK
P. 48
Product insured person.
A Policy designed to provide compensation to l Policy may be cancelled on the following
pilots and members of the crew against injury,
disablement or death arising out of an accident ground and accordingly prorata premium can
caused by accidental, external ,violent and visible be refunded
means while entering into alighting from or being w Change of employer
as pilot member of the crew or passenger in any w Request for cancellation and subject to no
licensed standard type of aircraft anywhere in he claim reported under the policy
world. Such risks are excluded under PA policy w Absence of valid licence
and hence a separate PA policy has been
introduced to cover crew members. Extension
Customer Variants
Pilots, Co Pilots, members of crew, Engineers, Mediclaim, House Holders, Sampoorna Suraksha
Technicians, Navigators
3. Underwriting Guidelines
2. The Insurance Cover All proposals should be referred to HO for
approval or rates and terms
Basic Coverage Determination of sum insured/values to be insured
The Policy covers crew against injury, disablement Sum Insured is the Capital Sum Insured and is
or death arising out of an accident caused by generally 3 to 5 times the annual income of the
accidental, external and visible means while Insured Person
entering into alighting from or being as pilot
member of the crew or passenger in any Sr Age of Pilot Table Capital Sum Insured
licensed standard type of aircraft No
anywhere in the world. The compensation of Benefits
payable is as per table below provided 1 18 to 55 yrs
A 5 times of annual Income
the injury sustained results in death/ 2 ,, B 4 times of annual Income
disablement within twelve months of 3 ,, C 3 times of annual Income
the occurrence of the accident. 4 56 to 60 yrs A 4 times of annual Income
Exclusions 5 ,, B 3 times of annual Income
l Suicide, self injury 6 ,, C 2.5 times of annual Income
l Any breach of law by Insured 7 60 and above A 2 times of annual Income
l Any breach by the insured of any air 8 ,, B 2 times of annual Income
navigation/air worthiness orders 9 ,, C 2 times of annual Income
l Insanity, Insured being under the
influence of drugs/intoxicating liquor l It is not desirable to increase the CSI mid
l Test flights term of the policy
l Insured taking part in any military, naval or air l In the case of substantial increase in salary
force operations the CSI can be increased subject to
l Insured engaged in Aerobatics, Experimental flying, u Declaration by insured that he does not have
racing, record attempt, speed trial. abnormal flying any knowledge of illness
u Enhanced CSI should not be more than 25%
Conditions of the existing Policy
l Accidental death shall not be presumed by Rating/Pricing
reason only of the disappearance of the
Rate is to be charged on the Capital Sum Insured
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