Page 275 - Misc Ebook IC 78
P. 275
Miscellaneous Insurance
solely and directly from accident caused by external
violent and visible means, then the company shall pay
the sum set forth for specific contingencies like death,
or disablement.
The sum insured may be fixed separately for each insured
person or may be linked to emoluments payable to the
insured person. The premium is calculated on the wages
and salaries paid by the employer to the insured persons.
The employer has to maintain an accurate record of all
such payments and has to show them to the insurer if
need be. The sum insured can be increased with
proportionate increase in premium.
The rate of premium depends on the risk exposure of a
person based on his profession.
Q2.a) Indicate the cover provided to the insured
under Section I and Section II of Money
Insurance Policy.
Ans. The Money Insurance policy covers money in transit
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