PRODUCT DISCLOSURE SHEET
(Please read this Product Disclosure Sheet before you decide to take up the Personal Accident Insurance. Be sure to also read the general terms and conditions.)
What is this product about?
This product will provide compensation for bodily injury, disability or death caused by accidental means which injury shall solely by violent, accidental, external and visible cause result in the insured person disablement or necessitate medical and/or surgical treatment or death.
Personal Accident insurance policy can be broadly categorised as follows:-
a) Individual Personal accident – taken by individuals on their own lives or on the lives of their spouse and children.
b) Group Personal Accident – usually taken up by employers/organisations on the lives of their employees/members.
What are the covers / benefits provided?
This product covers:
1 Accidental death 100% of capital sum insured.
2 Permanent Disablement Based on a certain percentage of capital sum insured depending on the severity of the disablement.
3 Medical Expenses Reimbursement the actual, necessary and reasonable medical, surgical, hospital, nursing home and nursing fees incurred up to the limit of sum insured.
How much premium do I have to pay?
The total premium that you have to pay may vary depending on the sum insured, the occupation and our underwriting requirements.
The minimum premium per policy is USD 52.50
What is the payment mode and how do I pay the premium?
This is an annual policy and you may pay your premium either by cash, or cheque.
What are some of the key terms and conditions that I should be aware of?
• Duty of disclosure
- You must give all the facts which you know or ought to know.
- You must ensure that the proposal form is completed accurately as it forms the basis of the insurance contract.
• Sum insured
Since there is no market value for human life, there is really no scientifically acceptable formula to calculate sum insured of an insured person. However, what must be borne in mind is that Personal Accident insurance is a form of protection against loss of future earnings and not a form of speculative investment (in other words, a Personal Accident insurance is not to provide benefits what the Insured would not earn without the accident). As such what determines an adequate sum insured is really the extent of protection required, which can vary from person to person depending on each individual’s background, age, state of career development, earning power and the number of dependants.
• Claims
You must give written notice of injury to us within the time frame stipulated in your policy.
Death claim
A police report and notification to us should be made as soon as possible. The claim form should be submitted with all the supporting documents, such as the death certificate and burial permit.
Injury claim
You must give written notice of injury to us within the time frame stipulated in your policy. You should submit the claim form with all supporting documents such as the medical report and receipts of payments for hospital expenses to us.
• Premium Warranty
Premium must be paid and received by us within 30 days from the inception date of the cover, otherwise the cover is automatically cancelled and you will still be responsible to pay the proportion of premium for the period we have been on risk.
What are the major exclusions under this policy?
This policy does not cover certain losses, such as:
• War risks
• Terrorism
• Self-inflicted injury
• Suicide and insanity
• Provoke murder or assault
• High risk sporting activities
• Drugs, AIDS/ HIV related illness, Sexually transmitted diseases
• Engaging in military, naval, air force, police or fire service duties
Note: This list is not exhaustive. Please refer to the policy contract for the full list of terms and conditions under this policy.
What are the pre-acceptance conditions for this product?
• No claims for the past 3 years.
• Insured has never been declined, cancelled or refused coverage previously.
Can I cancel my policy?
You may cancel the policy at any time by giving written notice to us. Upon cancellation, you are entitled to a refund of the premium based on the unexpired period of insurance less 10% administration charge.
Where can I obtain further information?
If you have any enquiries, please contact us at:
Customer Service
Dara Insurance Plc
Canadia Tower, 3rd Floor
No. 315, Corner of Ang Duong St.and Preah Monivong Blvd.,
Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh, Cambodia.
Tel : 023 901 353
E-mail : enquiries@darainsurance.com.kh
Website: www.darainsurance.com.kh