Terms & Conditions of Group Medi-claim policy issued by United India Insurance Co. Ltd for future renewal
Following are the terms and conditions on which mediclaim policy will be renewed for the retirees by United India Insurance Company Limited
(1) Company will continue cover for next 3 years
(2) The policy will be renewed on the following premium
Claim Ratio Discount/ Loading to the Premium
Not Exceeding 25 % 40 % Discount
Not Exceeding 30 % 35 % Discount
Not Exceeding 40 % 25 % Discount
Not Exceeding 50 % 15 % Discount
Not Exceeding 60 % 05 % Discount
61 % - 110 % No Discount no loading
111 % - 115 % 05 % loading
116 % - 120 % 07 % loading
121 %- 125 % 10 % loading
126 %- 130 % 13 % loading
131 % - 135 % 15 % loading
136 % - 140 % 18 % loading
In view of the above next year premium for renewal will be as under depending on claim ratio.
Sum Assured Minimum Maximum
For Rs 3 Lakhs Rs. 2958 plus taxes Rs 5817 plus taxes
For Rs 4 lakhs Rs. 3948 plus taxes Rs.7756 plus taxes