Common use of Restoration of Sum Insured Clause in Contracts

Restoration of Sum Insured. We will provide a 100% restoration of the opted Base Annual Sum Insured once in a Policy Year if the opted Base Annual Sum Insured and the Cumulative Bonus (if any) is insufficient as a result of previous Claims in that Policy Year, provided that: (a) The restored Base Annual Sum Insured will only be available for future Claims under the Policy and not in respect of any Illness (including its complications) for which a Claim has already been accepted / paid in that Policy Year for the same person; (b) No Cumulative Bonus will apply on the restored Base Annual Sum Insured; (c) The restored Base Annual Sum Insured will apply to all Insured Persons on the same basis as the opted Base Annual Sum Insured; (d) Any restored Base Annual Sum Insured which is not utilized in a Policy Year shall not be carried forward to any subsequent Policy Year; (e) Restoration of Sum Insured will be in addition to opted Base Annual Sum Insured. (f) In case of Individual policy, payment under this cover shall be available on Individual basis and In case of floater the payment shall be available on floater basis. (g) The restored Base Annual Sum Insured will not be available, in case of admissible claim under 2.8 “Double Sum Insured for Hospitalization due to Accident”.

Restoration of Sum Insured. We will provide for a 100% restoration of the opted Base Annual Sum Insured once in a Policy Year if the opted Base Annual Year, provided that: (a) The Sum Insured and the inclusive of earned Cumulative Bonus (if any) is insufficient as a result of previous Claims claims in that Policy Year, provided that:. (ab) The restored Base Annual Restored Sum Insured will only shall not be available for future Claims under the Policy and not in respect of any Illness claims towards an Illness/ disease/ Injury (including its complications) for which a Claim claim has already been accepted / paid in that the current Policy Year for the same person; (b) No Cumulative Bonus will apply on the restored Base Annual Sum Insured;Insured Person under In- patient hospitalization under Section II.1, for Worldwide Emergency Cover Benefit under Section II.8, Maternity Expenses under Section II.11. (c) The restored Base Annual Restored Sum Insured will be available only for claims made by Insured Persons in respect of future claims that become payable under Section II of the Policy and shall not apply to all Insured Persons on the same basis as first claim in the opted Base Annual Sum Insured;Policy Year. (d) Any restored Base Annual The Restored Sum Insured which is not utilized in a Policy Year shall will not be carried forward to any subsequent Policy Year;considered while calculating the Cumulative Bonus. (e) Restoration Such restoration of Sum Insured will be available only once during a Policy Year to each insured in addition to opted Base Annual case of an individual Policy and can be utilised by Insured Persons who stand covered under the Policy before the Sum InsuredInsured was exhausted. (f) In case of Individual policyIf the Policy is issued on a floater basis, payment under this cover shall the Restored Sum Insured will also be available on Individual basis and In case of floater the payment shall be available on a floater basis. (g) The restored Base Annual If the Restored Sum Insured will is not utilised in a Policy Year, it shall not be available, in case of admissible carried forward to subsequent Policy Year. For any single claim under 2.8 “Double during a Policy Year the maximum Claim amount payable shall be sum of: i. The Sum Insured for Hospitalization due to Accident”.Insured