Are the premiums printed on the standard rates applicable to everyone?
The premiums are based on persons with standard health who are in Class I and II occupations, which are defined as follows:
Persons engaged in professional, managerial, administration, clerical and non-manual occupations generally.
Persons engaged in work of a supervisory nature and all others not in Class I whose duties may involve occasional light manual work but not using tools or machinery or exposed to any special hazards (e.g., clerk-of-work, supervisor). Persons who are required to travel outside the office for business or professional purposes but not engaging in manual labour (e.g., salesman).
Please check with us separately for all occupations involving manual work and not within the above definitions. Premium loadings may be applied for applicants with medical conditions or who are employed in more hazardous occupations.
Are the premiums guaranteed?
The premiums payable for this coverage are not guaranteed and may be increased at policy renewal.
What is this “Free Look” Benefit*? Will I be entitled to premium refund if I need to cancel the policy?
The Benefit entitles you to enjoy free trial of the Plan for 14 days from the day you receive your insurance policy. If this policy is not suitable for you, you can arrange to cancel your policy within this period and receive a full refund on the payment made, with no questions asked. Beyond the “Free Look” period, we will refund you the balance premium after deducting our customary short-term premium or minimum premium provided no claim has been made under the policy. * This is not applicable to renewals.
Is there a Waiting Period before a claim can be made?
Benefits for illnesses or sickness will only be paid if diagnosed after 30 days from the inception of the policy, except in the case of accidental injuries where you are covered immediately.
What is considered as Material Changes for which I will need to notify Sompo?
You will need to notify us of any change which may result in a material increase in the circumstances of the risk, such as a change in your country of residence or if you intend to reside overseas for a period longer than 90 consecutive days; and a change in occupation or business, habits or pursuits, and physical health including any disease or physical defect of which you may have become aware of. Additional premium may be required for the continuance of coverage.
What are the main Exclusions?
There are certain conditions under which no benefits will be payable. These are stated as exclusions in the contract. The exclusions for this Plan include, but are not limited to, the following conditions. You are advised to read the policy contract for the full list of exclusions.
- Pre-existing condition which is an injury, illness or condition, which existed or has developed symptoms or manifestations before the effective date of the cover, which you are aware of or should reasonably have been aware of.
- Treatment for congenital abnormalities and physical defects that have been in existence since birth, or as a result of pregnancy, self-inflicted injury, suicide, drug abuse, alcoholism, mental diseases, cosmetic surgery, or AIDS.
- War and the like, riot and civil commotion, terrorism.
- Nuclear fission or radioactive contamination.
- Hazardous activities such as mountaineering or rock climbing involving the use of ropes, underwater activities involving the use of underwater breathing apparatus, bungee jumping, sky diving, hang-gliding, paragliding, parachuting, racing other than on foot or any sports in a professional capacity.
- Expenses recoverable under Workmen’s Compensation Insurance.