Common use of Limit of Compensation Clause in Contracts

Limit of Compensation. The insured is entitled to purchase only one Flexi Protector Personal Accident Insurance Policy which is issued under the name of the insured person for the same period of insurance including overlapping of period of insurance and shall not be covered under more than one such policy. In the event the insured is covered under more than one such policy, we will not be liable for the same claim under more than one policy relating to the same period of insurance issued by us and will pay him/her the highest compensation benefit. Where the compensation benefit under such policy is identical, we will pay to the insured person under the policy first issued and will refund any duplicate premium which has been made.