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SALIENT
FEATURE
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The
policy is basically intended for covering
expenses to be incurred after happening
of the accidental contingency to the insured
parent/guardian of the insured student
child for continuation of the insured
students education in respect of the covered
course till completion of the course.
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SCOPE
OF COVER
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1.
The Policy will also cover the first admission
fees but will excluded Donation /Capitation
Fees if any.
2. A maximum of two student children can
be covered under one Policy in respect
of one particular insured Parent and within
the limit of one Sum Insured only.
3. The duration of the Policy issued will
be limited to the duration of the covered
course.
4. The student children to be covered
under the Policy must be in the age group
of 4 to 25 years.
5. For Group Policy covering 26 and more
students, applicable group discount would
be allowed as under :
Group Strength
Discount
Upto
100 10%
101
- 500 25%
501
- 5000
30%
5001
- 10000 40%
6. On cancellation of policy during the
currency, applicable refund as per scheme
would be allowed.
7. Minimum Premium under Ind. Policy is
Rs.50/- and Group Policy Rs.100/-.
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TARGET
GROUP
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1.
Parents/Legal Guardian of Individual student
in any Registered Educational Institution
affilated to any State Board, Council,
University and AICTE or Any other Govt.
Statutory Authority, within the territory
of India.
2. The Educational Institutions may also
take a Group Policy covering named Students
enrolled with them.
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BENEFICIARY
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Ultimate
Benefit under the scheme goes in the form
of payment of future covered expenses
to the insured student/the live parent/
guardian/the institution whoever actually
becomes the claimant for bearing covered
expenses. An assignment clause is attached
where the insured may specify the beneficiary
to avoid dispute.
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COVERED
EXPENSES
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1.
Cost of tuition fees, Hostel Rent (inclusive
of boarding expenses) cost of books and
periodicals essentially prescribed by
the Head of the Dept./Institution.
2. Examination Fees.
3. Cost of to and fro 2nd Class Rail Ticket
for the student to attend at the place
where The Parent has met with the covered
Accident or the Place as stated in the
schedule Where the Insured Parent/Guardian
resides, after the covered accident.
4. Compulsory donation for Festivals and
Picnic/excursion held in/or behalf of
the Institution.
5. Cost of compulsory uniform prescribed
by the Institution.
6. Any other compulsory expenses to be
borne under recommendation of the Head
Of the Dept. / Institution.
7. During the policy period and before
exhaustion of the entire amount of benefit
But after occurrence of the covered contingency,
if the beneficiary student meets With
an Accident, amount of medical expenses
incurred can be reimbursed from The unutilised
amount.
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