GROUP PERSONAL ACCIDENTAL POLICY& FUNERAL PLAN
SUMMARY OF COVER
PREAMBLE
Whereas the Policyholder named in the General Schedule has applied to YardInsurance (Pty) Limited (hereinafter called The Underwriter) for the insurance herein contained, The Underwriter agrees subject to: -
1) Any proposal or other information supplied by or on behalf of the Policyholder
1.1 Disclosing all facts and circumstances known to the Policyholder that are material to the assessment of the risk insured hereby and
1.2 Forming the basis of this insurance
To grant such insurance to the Policyholder subject to the Terms, Conditions, Provisos and Exclusions set out in this Policy or as contained in any endorsement that may be issued.
INSURING CLAUSE
The Underwriter shall pay the benefits shown in the Table of Benefits and the General Schedule, subject to the Terms, Conditions, Provisions, and Exclusions, in the event of an Accident, giving rise to a claim, that occurs during the period of insurance, and that directly and within 24 months of the date of such Accident, causes or results in a Bodily Injury and is defined in the Table of Benefits.
OPERATIVE CLAUSE
Notwithstanding anything to the contrary set out in the Policy or any Section thereof The Underwriter’s agreement to insure and indemnify the Policyholder is conditional upon the payment of the premium by or on behalf of the Policyholder and the receipt thereof by or on behalf of The Underwriter. Premium is payable on or before the inception date or renewal date as the case may be, and The Underwriter shall not be liable for any claim arising under this Policy prior to receipt of the premium. The Underwriter shall not be obliged to accept premium tendered to it or to any intermediary after such date but may do so upon such terms as it in its’ sole discretion may determine.
DEFINITIONS APPLICABLE
Accident/s:
shall mean a sudden, unexpected and specific event, which occurs at an identifiable time, (moment or point of time) and place, which results in Bodily Injury.
Accumulation Limit:
shall mean the maximum liability of The Underwriter under this Policy in respect of any one Accident or number of Accidents arising from one source or cause.
Annual Salary:
is defined as the total, gross, basic salary, excluding overtime, commission or bonuses.
Air Accumulation Limit:
shall mean the maximum liability of The Underwriter under this Policy in respect of any one Accident or number of Accidents arising from one source or cause whilst travelling as a fare paying passenger in an aircraft.
