Page 124 - Misc Ebook IC 78

The Insurance Times

Ans.(i) The estimated annual carrying limit - Rs. 3 crores. So
the premium was paid based on this amount.

The per transit carrying limit -Rs. 25 lacs. Since, the
amount of money in transit was < Rs. 25 lacs, claim
payable would be Rs 20 lacs.

However, since the initial premium charged was less,
the final claim amount would be reduced by the
difference in premium amount, (i,e premium required
for the entire year's estimated transit amount - premium
required for the entire year's actual transit amount.

Ans.(ii) Sum Insured - Rs. 2 lacs
Weekly payment for Temporary total disablement - 1%
of the capital sum insured -
Rs.1 X 2,00,000 =
100

= Rs. 2,000

So, for 6 weeks he would get a sum of Rs.12000 , at
Rs.2000 per week.

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