As a participant in the individual contribution package, in case you meet with an unfortunate event of death due to accident (God forbid), your family would get paid the life cover amount immediately.
However, in the unfortunate event of permanent disability you would get a lump sum calculated as per the scale mentioned in the policy contract. The claim amount is based on the type of disability. A wide range of permanent disabilities are covered and include but not limited to permanent total disablement from gainful employment, permanent loss of one or more limbs, eyes, loss of hearing in one or both ears, speech, toes, fingers and many other forms of permanent disabilities. Please refer to the policy contract for more information.
The below table outlines the protected events and the percentage of the Sum Protected that is paid according to the degree of disablement:
|
Protected Event |
Sum Protected |
|
1 |
Loss of life due to an accident |
100% |
|
2 |
Permanent total disablement from gainful employment of any and every kind |
100% |
|
3 |
Permanent total loss of one or more limbs |
100% |
|
4 |
Permanent total loss of one or both eyes |
100% |
|
5 |
Any combination of 3 and 4 (mentioned above) |
100% |
|
6 |
Permanent total loss of speech |
100% |
|
7 |
Permanent total loss of hearing:
|
|
|
8 |
Loss by physical severance or permanent total loss of use of:
- One big toe(both Phalanges) *
- One big toe (one Phalanx)
- Any other toe
|
|
|
|
Loss by physical severance or permanent total loss of use (**to be reversed if the Participant is left handed): |
Right** |
Left** |
9 |
One thumb
- Both Phalanges
- One Phalanx
|
|
|
10 |
One forefinger:
- All Phalanges
- Both Phalanges
- One Phalanx
|
|
|
11 |
Any other finger:
- All Phalanges
- Both Phalanges
- One Phalanx
|
|
|
12 |
Permanent total loss of use of:
- Shoulder or elbow
- Wrist
- Hip, ankle or knee
|
|
|
13 |
Removal of the lower jaw by surgical operation |
30% |
|
* Note: phalanges are bones (plural for phalanx) that form the fingers and toes. An individual’s thumb and big toe have two phalanges, while the other fingers and toes consist of three.