The policy is valid for a period of one year from the date the Insured person becomes a member of the Indian Cancer Society and the risk shall commence from that date.
No claim, however, shall be payable on any account whatsoever, if the Insured or his spouse contracts cancer within a period of thirty days from the date of inception of the first policy but it is clarified that the said period of thirty days does not apply to renewals.
If after the said period of thirty days and thereafter during the currency of the Policy, or subsequential renewals, any of the persons falling within the expression of the term Insured, contracts Cancer or is suspected of having contracted cancer and makes initial claim under the Policy, the Policy shall be deemed to have been invoked in respect of the said person (and shall lapse as far as the other is concerned) and the liability of New India shall continue to the extent of the amount Insured.
It shall be open for the other person to take out a separate Cancer Policy in his/her own right in accordance with the prescribed procedure and Continuity Benefit will be available.
Policy can be extended to cover two dependent children as an extension to the existing Group Cancer Medical Expenses Policy subject to attachment of a suitable endorsement. Separate proposal form is to be filled-in for each child. Cumulative Bonus allowed for each child as it is done in case of the original policy. Claim by anyone Insured child will not affect the Company’s liability in respect of the other child. Further, policy will not cease to be effective for Insured/spouse if any of the Insured child contract Cancer.
CUMULATIVE BONUS: Sum Insured under the policy shall be increased by 5% in respect of each completed year during which the policy shall have been in force but amount of such increase shall not exceed 50% of Sum Insured. The earned Cumulative Bonus will not be lost if the policy is renewed within 30 days of expiry of the policy