Page 189 - Misc Ebook IC 78

Miscellaneous Insurance

permanently. The sum insured under the policy is
Rs.2,00,000 and the cumulative bonus there is
20%. Calculate the amount of claim payable.
Ans. Sum Insured = Rs. 2,00,000
With 20% cumulative bonus, sum insured = Rs. 2,40,000
Permanent partial disablement compensation = 5% =
Rs. 10,000
Weekly compensation = 1% of sum insured = Rs. 2,000
So compensation for 6 weeks = Rs. 12,000
Hence, total claim payable = Rs.10,000 + Rs.12,000

= Rs. 22,000

Q9(b) A burglary policy was issued for a sum
insured of Rs. 50,00,000. A loss occurs there
for Rs. 50,000. At the time of loss however,
the value of the property was found to be
Rs.40,00,000. What is the amount of claim
payable?

Ans. The amount of claim payable = Rs.50,000

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