Page 50 - Marine Insurance IC67 EBOOK

Rates for cancellation 4. Documents for Claims

Policy period in force Refund % ( percentage) of Settlement
annual premium l Claim form
Upto 1 month l Medical Report, Discharge
More than 1 month & upto 2 months 80 Certificate from the Hospital/
More than 2 month & upto 3 months 70 Nursing Home
60 l Police Report, DGCA Report

More than 3 month & upto 4 months 50 l Death Certificate ,Post Mortem

More than 4 month & upto 5 months 40 Report, Death Certificate
More than 5 month & upto 6 months 30
More than 6 month & upto 7 months 25 l Medical Certificate/Doctors
More than 7 month & upto 8 months 20
Certificate on PPD/PTD

l Court award

l Legal opinion

More than 8 month & upto 9 months 15 ---------------------------------------------------

More than 9 months No refund ---------------------

Aviation Hull Deductible

Excess/Deductibles

Amount of deductibles based on limit of Indemnity 1. Introduction
and hovers in the region of 2 % of of Sum Insured

subject to minimum of USD 50,000. Product

Airlines at times have to bear a percentage of the

Item Number Type of Disablement Compensation
Item 1
Incapacity causing Permanent Total After deduction of any payments made under
Item 2 Disablement(otherwise than due to other items 3 or 4 the balance of one hundred
psychosis or psychoneurosis or epilepsy) per centum of the Capital Sum Insured
Item 3
Incapacity causing Permanent Total After deduction of any payments made under
Disablement due to psychosis or other items 3 or 4 the balance of eighteen
psychoneurosis or epilepsy per centum of the Capital Sum Insured

Incapacity causing Temporary Total At the rate per calender month for not more
Disablement (otherwise than due to than twelve months or up to the prior Death
psychosis or psychoneurosis or or Permanent Total Disablement of the Insured
epilepsy) Person . **In the case of Total Disablement of the
Person Insured of two per centum of the CSI
Item 4 Incapacity causing Temporary Total
Disablement due to psychosis or At the rate per calender month for not more
psychoneurosis or epilepsy than twelve months or up to the prior Death
or Permanent Total Disablement of the Insured
Item 5 Legal and /or other costs incurred Person.**In case of Total Disablement of the
with consent of the Company Person Insured of one and half per centum of the CSI

Up to Rs 2000/- per life insured.

* Liability of the Company will not exceed 100 per centum of the CSI
* No compensation is payable in respect of the first 90 days of the incapacity consecutively or in the

aggregate in any one year of insurance
** Company is entitled to withhold payment of the balance of the CSI for twelve calender months after

expiry of said 90 days but paying to the person insured compensation at the rates mentioned above

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