Page 110 - Misc Ebook IC 78

The Insurance Times

years. In the event of a claim the increased
percentage gets reduced by 10% of the sum insured
at the next renew will but never goes below the
basic sum insured.

This is known as cumulative bonus. If the insured
continues the policy without any break, he is entitled
to another benefit, reimbursement of medical
checkups once in every four underwriting years
subject to no claim requested during this period. The
cost is restricted to 1% of the average sum insured
during the block of four years.

Group mediclaim policy - the group mediclaim
policy is available to any group or association or
institution or corporate body, provided it has a Central
Administration point and subject to a minimum
number of persons covered. The insured should
cover all eligible members under one group policy
different categories of eligible members are not
allowed to be covered under different group policies.
The group policies issued in the name of the group

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