Free Cover Limit definition

Free Cover Limit means the amount of the Benefit granted to a Member without any medical underwriting.
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Free Cover Limit wherever applicable, means the maximum Sum Assured up to which the insurance cover on the lives of Members can be allowed based on simple insurability conditions without requiring any evidence of health, based on the criteria mentioned in the board approved Underwriting Policy, as specified in the Schedule;
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Free Cover Limit means the amount of cover granted on the life of the Member without undergoing any medical examination/underwriting as per the underwriting rules of the Insurer.
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Examples of Free Cover Limit in a sentence

  • The eligibility of the Insured Member for receiving coverage for the Sum Assured above Free Cover Limit shall be determined after completion of the Individual Underwriting process as per the internal guidelines of the Company, and coverage shall take effect on the date the Company states in writing, provided all other eligibility conditions are met by the Insured Member on that date.

  • The Company will inform the Employer of the revised Free Cover Limit along with the quotation for Renewal Premium.

  • For Eligible Members whose Total Sum Assured for all Group Policies is below or equal to the Free Cover Limit, the insurance coverage shall commence on the Effective Date of Coverage as stated in the Schedule.

  • For Eligible Member whose Total Sum Assured is greater than the Free Cover Limit, the insurance coverage up to the Free Cover Limit shall commence on the Effective Date of Coverage as stated in the schedule or the date of acceptance by the Company of evidence of satisfaction of simple tests of insurability prescribed, whichever is later.

  • The eligibility of the Insured Member for receiving coverage for the Sum Assured above Free Cover Limit shall be determined after completion of the Individual Underwriting process as per the internal guidelines of the Company and coverage shall take effect on the date the Company states in Writing, provided all other eligibility conditions are met by the Insured Member on that date.


More Definitions of Free Cover Limit

Free Cover Limit means the amount of the Benefit/Sum Assured granted on the life of the employee/Insured member without undergoing any medical examination/underwriting.
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Free Cover Limit means the amount of cover granted on the life of the employee/ Member without undergoing any medical examination/underwriting.
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Free Cover Limit means the maximum amount of policy benefit that may be accepted for cover in respect of a particular insured member without specific underwriting. It represents the amount, if any, specified as such in the policy schedule, and may be subsequently revised from time to time as agreed between the insurer and the policyholder.
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Free Cover Limit means the Sum Assured amount as specified in the Schedule, up to which Insurance cover can be allowed based on simple insurability conditions without requiring any evidence of health;
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Free Cover Limit means the level of Capitalised Death Benefit above which a Member is required to provide evidence of health.
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Free Cover Limit. It defines the maximum amount of Sum Assured as stated in the Schedule that can be accepted on an Insured Member on a non-individually underwritten basis
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Free Cover Limit means in respect of a benefit payable in terms of RULE 6.1.1(a), the maximum amount as determined by the TRUSTEES from time to time in terms of which proof of the MEMBER’S good health does not have to be submitted.
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