CHANGE OF OCCUPATION. If an Insured Person shall engage in any occupation in which a greater risk may be incurred than in the occupation that is stated in the Proposal or subsequent endorsement for this Policy without first notifying Us and obtaining written agreement to the amendment of the Policy (subject to the payment of such reasonable additional premium as We may require as the consideration for such agreement), then no claim shall be payable in respect of any Injury arising out of or in the course of such occupation.
CHANGE OF OCCUPATION. Any employee in the Business Unit who is in an occupation other than the posted occupation. Selection will be in accordance with Article 16.13 (Job Selection).
CHANGE OF OCCUPATION. In the event the Insured changes his occupation or job duty to one classified by us as more hazardous than that stated in the Application for or in subsequent endorsement to the relevant Supplementary Accident Contract, you and/or the Insured shall immediately notify us in writing. We shall adjust the premium accordingly and charge the difference from the date the Insured changes his occupation or job duty. If such notification is not made and the Insured is injured after having changed his occupation to a more hazardous one or while doing anything pertaining to such more hazardous occupation, we shall pay only such portion of the amount of benefit provided in the relevant Supplementary Accident Contract as the premium paid would have purchased at the rates and within the limits fixed by us for such more hazardous occupation. In case the occupation or job duty the Insured has changed to is one classified as non-insurable by us, we shall terminate the relevant Supplementary Accident Contract and return the unearned premium on a pro rata basis from the date of change. We shall not be liable for any claims arising after such change of occupation for which we are not notified. In applying this provision, the classification of occupation risk and the premium rates shall be such as have been last published by us prior to the date of notification or occurrence of the loss for which we are liable or change in occupation.
CHANGE OF OCCUPATION. If the Insured suffers an injury and illness while under a remunerated occupation which is considered more hazardous than which had been previously declared to the Company, the Company shall pay the compensation equal to the coverage amount of which the previously paid premium can buy the new occupation. If the occupation is a declined risk, the Company will terminate the Policy and refund the premium to the Insured on a pro-rata basis as from the date of receiving such evidence of change. However, if there was a previous claim done within the Policy Year, no refund of premium will be provided. If the Insured changes to an occupation which the Company considers as less hazardous, the Company will reduce the premium and refund it to the Insured on a prorata basis as from the date of receiving such evidence of change.
CHANGE OF OCCUPATION a. If you change occupation then you must tell us in writing within 30 days of the change. If you do not do this, then this insurance will cease as far as you are concerned from the date that you changed your occupation.
b. If you meet with Accidental Bodily Injury before you have told us of a change in occupation and your new occupation would have attracted a higher premium, then the payment we make will be limited to the amount of insurance that the premium you have actually paid would have brought for your new occupation 7. Renewal and Cancellation
a) Under normal circumstances, lifetime renewal benefit is available under the policy except on the grounds of fraud, misrepresentation or moral hazard.
b) In case of our own renewal a grace period of 30 days is permissible and the Policy will be considered as continuous. Any medical expenses incurred as a result of Accident contracted during the break period will not be admissible under the policy.
c) For age 66 years and above, renewal Sum insured would be restricted to lower of Rs10 lacs (under Basicand or Wider) or expiring policy sum insured under Basic and / or Wider sections.
d) However renewals can be considered with higher sum insured subject to Submission of requisite documentation to ascertain commensuration of income.
e) Premium payable on renewal and on subsequent continuation of cover are subject to changewith prior approval from IRDA.
f) We can cancel this Policy by sending you 15 days written notice, and if we exercise this right then the premium will be refunded pro-rata.
g) You can cancel this policy by giving us 15 days notice, and if you exercise this right then the premium will be refunded after retaining premium according to our short rate scales as mentioned below. Period on Risk % of Annual Premium Refunded 1 month 75% 3 months 50% 6 months 25% However, if any claim is made then no refund will be given when you cancel
h) No person other than those persons named as the Insured Person(s) or those categories of the Insured specified in the Schedule shall be covered under this Policy unless and until his/her name or the category has been notified in writing to the Company, any additional premium due has been paid and the Company’s agreement to extend cover has been indicated by it issuing an endorsement confirming the addition of such person or category of persons as an Insured
i) Cover under this Policy shall be withdrawn from any Insured Person(s) named or any category of persons Insured...
CHANGE OF OCCUPATION. The Policyholder is required to inform the Company of any change in the occupation, profession, or hobbies of the Life Insured, occurring during the term of this RIDER, failing which the Company may decline the Benefits in case the Death by Accident arises out of such changed occupation, profession or hobbies. In the event of such a change the Company, in its absolute and sole discretion, reserves the right to take such action as it may deem appropriate.
CHANGE OF OCCUPATION. If an Insured Person sustains a loss after having changed occupation to one classified by the Company as more hazardous than that for which premium was paid or while doing, for compensation, anything pertaining to an occupation so classified, the Company will pay only such portion of the indemnities provided in this policy as the premium paid would have purchased at the rates and within the limits fixed by the Company for such much hazardous occupation.
CHANGE OF OCCUPATION. 7.1 The Master Policyholder/the Member is required to inform Us of any change in the occupation, profession, or hobbies of the Members, occurring during the Rider Term within 30 (Thirty) days from the date of such change, in the format as specified in Annexure I to this Rider. Based on the information provided by the Master Policyholder/ the Member and subject to our underwriting decision, if We are of the view that the change in the occupation, profession, or hobbies of the Members represent a sub-standard risk or poses a higher risk to Us, then, we reserve the right to charge extra Rider Premium or to terminate this Rider. Upon termination of this Rider, We will refund the Rider Premium received by Us for the unexpired Rider Period of Coverage. If the Master Policyholder/the Member fails to provide Us with the written notice of such change, then, We may decline the Accidental Death Benefit in case of Accidental Death of the Member, if such death occurs due to the changed occupation, profession or hobbies, subject to Section 45 of the Insurance Act.
CHANGE OF OCCUPATION. The Insured Person has to notify the Company by written notice once his/her occupation especially the job nature has been changed. If such occupational risk is not accepted by the Company, the coverage provided by the Policy would not have become effective, or would have ceased from the date of change of occupation. In the event of such cancellation, the Company will return promptly the pro rata unearned portion of any premium actually paid by the Insured Person. However, the Company shall not return such unearned premium in case the Company has ever compensated for any loss to the Insured Person during the effective period of the Policy.
CHANGE OF OCCUPATION. Any empIoyee in another Business Unit who is in an occupation other than the posted occupation. SeIection wiII be in accordance with ArticIe 16.13 (lob SeIection).
