Reinstatement of Sum Insured. After a loss, the full Sum Insured of this insurance shall be maintained. You are required to pay an additional prorated Premium based on the amount of loss calculated from the date of loss to the expiry date of insurance. This is an unvalued Policy. You must prove to the satisfaction of the Company the value of the property at the time of the happening of its destruction or the amount of such damage. You may cancel this Policy at any time by giving Us notice in writing. You shall be entitled to a refund of Premium after We have charged You based on Our Customary Short-period Rates or minimum Premium payable under the Policy, whichever is higher. We may also cancel this Policy at any time by giving You seven (7) days’ notice in writing and will refund the prorated Premium equal to the unexpired Period of Insurance.
Reinstatement of Sum Insured. After a loss, the full Sum Insured of this insurance shall be maintained. You are required to pay an additional pro-rata Premium based on the amount of loss calculated from the date of loss to the expiry date of insurance.
Reinstatement of Sum Insured. Immediately upon the happening of any loss or damage as described in this Section, the total Sum Insured and the Sums Insured upon the various items of the property insured which have been lost or damaged, shall be reduced by the amount of such loss or damage and such reduced Sums Insured shall be the limit of the Company’s liability during the current Period of Insurance unless the Company consents, upon payment of additional premium, to reinstate the full Sum Insured.
Reinstatement of Sum Insured a) If a Claim is payable under the Policy, then the Company agrees to make the re-instatement of the Sum Insured for all Insured Members once for that Cover Period, provided that:
i. The Reinstated amount shall be utilized only after the Sum Insured has been completely exhausted in that Cover Period.
ii. Reinstatement of Sum Insured is applicable only for Benefit 2.1.1, Benefit 2.1.2, Benefit
2.1. 3 and Benefit 2.1.4
iii. The Reinstated amount shall be available only for all future Claims and not in relation to any Illness or Injury for which a Claim has already been admitted for that Insured Member during that Cover Period.
iv. The total amount of Reinstatement shall not exceed the Sum Insured for that Cover Period.
v. Any unutilized Reinstated amount cannot be carried forward to any subsequent Cover Period.
vi. If the Policy is issued on a Floater basis, then the Reinstatement will also be available only on Floater basis.
vii. For any single Claim during a Policy Year the maximum Claim amount payable shall be the Sum Insured.
viii. During the Cover Period, the aggregate Claim amount payable under Benefit 1 (Hospitalization Expenses) subject to admissibility of the Claim, shall not exceed the sum of: I The Sum Insured under Hospitalization Expenses II Reinstatement of Sum Insured
ix. The balance of the Reinstated amount shall be available during the Cover Period till it is exhausted completely.
i. ‘Reinstatement of Sum Insured’ benefit can be taken by Policyholder/ Insured member either: • at the inception of Policy or at the time of Renewal on payment of additional premium; or • can be availed once the sum insured is exhausted during the Cover Period (pro-rated premium will be charged based on the remaining cover period). This additional premium should be received by the company within 15 days of exhaustion of Sum Insured under Benefit 1 (Hospitalization Expenses) for any future claim to be payable.
Reinstatement of Sum Insured. In the event of a loss, the insurance hereunder shall be maintained in force for the full sum insured and the Insured shall be liable to pay an additional premium at the rate stated on the Policy calculated on the amount of loss on pro rata basis from the date of such loss to the expiry of the current period of insurance. Reinstatement of Sum Insured is not applicable to coverage under Section 2 of items A, B, C and D unless specifically approved and endorsed hereon by the Company.
Reinstatement of Sum Insured. After a loss, the full Sum Insured of this insurance shall be maintained. You are required to pay an additional prorated Premium based on the amount of loss calculated from the date of loss to the expiry date of insurance. This is an unvalued Policy. You must prove to the satisfaction of the Company the value of the property at the time of the happening of its destruction or the amount of such damage.
Reinstatement of Sum Insured. The sum insured will not be reduced by the amount of any claim. We may request you to pay the premium on the amount of the claim from the date of the loss or damage to the expiry of the period of insurance. This applies separately to houseowners - buildings, (section 1.), householders contents (section 2.), and all risks (section 3.).
Reinstatement of Sum Insured. We will automatically reinstate the limits shown in the schedule from the date of any loss unless we give written notice to the contrary. You may be required to pay extra premium and if the loss has resulted from theft we may require that you fit additional protective devices to the vehicle.
Reinstatement of Sum Insured. In consideration of the Insured undertaking to pay an additional premium at the agreed rate on the amount of loss calculated on a pro rata basis from the date of such loss to the expiry of the correct period of insurance, it is agreed that in the event of loss the insurance hereunder shall be maintained in force for the full sum insured.
Reinstatement of Sum Insured. For the period following the occurrence of an accident up to the end of the policy period the sum insured shall be reinstated by payment of an additional premium on a pro rata basis, such premium to be calculated from that part of the sum insured which corresponds to the indemnity paid; the agreed sum insured shall remain unaltered.
