| PERSON(S) COVERED : | |
| RISK COVERED | LOSS OF LICENCE COVER LOCATION AS PER DCGA REGULATIONS LICENCE |
| BENEFITS | SEC A -2% OF THE MAX,SUM INSURED (OF EACH SUM INSURED PERSON) PER MONTH SEC B -1.5% OF THE MAX.SUM INSURED (OF EACH SUM INSURED PERSON) PER MONTH |
| WAITING PERIOD | 90 (NINETY)DAYS |
| SUBJECT TO CLAUSE | |
| LOSS OF LICENCE POLICY | |
| Whereas the insured described in the Schedule hereto (hereinafter called 'the insured') and the Insured Person described in | |
| the Schedule hereto (hereinafter called 'the Insured Person") whose occupation and employer are mentioned in the said schedule and who on the commencing day (mentioned in the said Schedule of this insurance was the holder of the Licence (hereinafter called "the Licence") mentioned in the said Schedule together with a Certificate of Validity (hereinafter called "the Certificate" ) forming part thereof (the Insured Person being required by law to hold such Licence in connection with his said occupation) by a proposal and declaration dated as stated in the said Schedule (which said proposal and declaration shall be the basis of this contract and are deemed to be incorporated herein) have applied to the New India Assurance Co., Ltd., (hereinafter called 'the Company' for the insurance hereinafter provided and has paid the premium stated in the said Schedule as consideration for such insurance during the period of insurance stated in.the said schedule: | |
| NOW IT IS HEREBY AGREED : that if the Insured person during the Said period of Insurance shall suffer bodily injury or | |
| illness or classified illness and such bodily injury or illness or classified illness shall be the sole and direct cause whereby during or after the said Period of Insurance (but not beyond a period of twelve month after the expiry of the said period of Insurance:-) | |
| 1) The insured person sh_all be disabled from carrying out his said occupation pursuant to the Licence and the Certificate | |
| but neither the Licence nor the Certificate shall have been lost to him OR, | |
| 2) There shall be imposed at any time whether by endorsement upon the Licence or the Certificate or otherwise any | |
| special limitation on or in connection with the exercise of the privileges conferred by the Licence and/or the' Certificate such imposition involving loss of income to the Insured Person OR., | |
| 3) The Licence and/or the Certificate shall be lost to the Insured Person then the insured shall subject to the terms | |
| conditions, provisions and exclusions of the policy becom·e entitled to the payment by the company of such as may be appropriate of the sums shown in the Table of Benefits hereinafter contained. | |
| DEFINITIONS | |
| 'Bodily injury' means bodily injury(directed solely and independently of any other cause) caused by violent accidental | |
| external and visible means and includes (a) illness solely and directly caused by such bodily injury and (b) the results of exposure to the elements after any accident or mishap but does not include any other illness. | |
| 'Illness' means any illness (not falling within the aforesaid definition of bodily injury) and in includes senile degenerative | |
| changes but not a classified illness as hereinaf ter defined. | |
| A 'Classified illness' means an illness as hereinbefore defined but which (a) is in its nature or in origin psychotic psycho | |
| n.eurotic epileptic epilptiform appleptogenic aplleptogenous or appleptold or (b) is of such nature as to be incapable of diagnosis by objective evidence or which though capable of diagnosis by such evidence has not been diagnosed by objective | |
| evidence. | |
| A 'Loss of a Licence or a Certificate ' means a deprivation of such Licence or certificate in such circumstances that the | |
| insured person is unlikely by reason or bodily injury or illness (whether or not classified illness ) to obtain or restoration of such Licence or Certificate and 'loss' or any conjunction thereof as a corresponding meaning . | |
| 'Loss of income ' means a loss ascertained af ter taking into account surtax. Income ta"X , gratuated pension contribution, | |
| pension fund contributions, national Insurance contriblitions and all other deductions of a like nature. | |
| The 'insured person' shall where the context admits include the insured person and his personal representatives. | |
| TABLE OF BENEFITS | |
| SECTION A: . : | |
| A Monthly benefit as stated in the schedule in respect of any such disability of imposition caused as aforesaid by bodily | |
| injury or illness ( other than a classified illness ). Such monthly benefit to commence upon the expiration of 90(Ninety) consecutive days of disability or imposition and to continue until the cessation of such disability or imposition or the end of 12 calender months from the expiration of the said period of 90 (Ninety), Consecutive days whichever shall first occur. | |
| SECTION B: | |
| A Monthly benefit as stated in the schedule in respect of such disability · or imposition caused as aforesaid by classified | |
| illness. Such monthly benefit to commence on continuous in like manner as stated in Section A above. | |
| Costs or other legal expenses or any other expenses such cost or expenses having been reasonably and properly incurred by | |
| the insured and with the consent in writing of the company by reason of the insured persons having been called upon to attend any court of inquiry or legal or other proceeding in connection with the happening of any event which has given raise to claim under the policy but so that the maximum payment under the section shall be Rs.2700/- in respect of any one such event. | |
| PROVISIONS | |
| Provided always that : | |
| 1. If the company shall have made any payments or payment of monthly benefits under section A or B hereof and t11e | |
| insured shall be reason of the event occasioning such a payment or payment of monthly benefits become entitled to any cash payment under any section C, D & E hereof of the company shall be entitled to deduct the aggregate of any such payment at monthly benefits from any such cash payment. | |
| 2. The company shall not be liable to to make payments under more than one of section C,D or E hereof in respect of | |
| the loss of the Licence and /or tlie certificate. | |
| 3. The company shall not be obliged to effect settlement under any sections C, D or E of the table of benefits until a | |
| period of 90 (ninety) days has elapsed from the date on which the insured shall have given written notice as required by the claims procedure hereinafter prescribed. · | |
| 4. All monthly benefits payable hereunder shall be apportionable from day to day. | |
| 5. Payment of any monthly benefits shall cease immediately upon the death of the insured person. | |