Page 396 - Misc Ebook IC 78

The Insurance Times

Q5.a) Explain the age limit, coverage provided,
family discount and cumulative bonus under
the most popular insurance policy, available
in the market?

Ans: The Mediclaim policy is available to persons between
the age of 5 years of 80 years. Children between the
age loss is 3 months and 5 years can also be covered
provided one or both of the parents are covered
concurrently.

Family discount - This discount of 10% is allowed to a
family comprising the insured and any one or more
family members like spouse, dependent children and
dependent parents.

The other provisions of the policy are that the claims
shall be payable in Indian currency and all medical
treatments have to be taken in India only.

Cumulative Bonus - The Sum insured is increased
by 5% foe every claim free year of insurance, subject
to a maximum accumulation of 10 years or 50%. In

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