Thursday, July 07, 2005

New Insurance Plan for Students with Less Annual Premium

During the negotiations with the insurance company the following changes in the exsting plan were finalised.
  • The annual premium will reduce to Rs 528. Previously it was Rs 541. The excess amount collected through fees of next semister will be adjusted with next semister fees.
  • Insurance coverage of Rs 3,00,000 to the student in case of loss of earning parents.
  • Provision of special contingency of Rs 30,00,000 in case of illness of student with a limit of Rs 1,25,000.
  • Upper limit of Rs 25,000 in case of hospitalization of student in place of Rs 35,000. This decision was taken in the lieu of the statistics of insurance claims submitted last year which shows most cases were below Rs 25,000. If the cost of hospitalization and treatment increases above this limit the special contingency fund mentined earlier will take care of the additional expenses. This single has reduced the annual premium significantly.

The accident coverage under RAK remains unaltered.

No comments:

Post a Comment

Please note that your comment will go live immediately after you click 'Post Comment' button and after that you will not be able to edit your comment. Please check the preview if you need.

You can use some HTML tags, such as <b>, <i>, <a> etc.