Accident Sickness Insurance 2011

Sickness Insurance Policy : Like accident insurance it is a permanent contact and cannot terminate at the end of the year. The insured has an option to renew or not to renew the contract. The insurance company cannot refuse to renew the contact as the insured pays the renewal premium and observes the terms and conditions of the contact. This .plan of insurance provides for payment of a substantial part of earned  caused by illness and medical expenses income lost through disability   incurred on illness. The policy does not cover the accident or sicknesses caused willfully or by riding races or by breach of law or by war or by riot. In modern days this insurance is very popular as everyone wants to make some future provision in case of sickness and disablement. This policy is very suitable for professional men and others whose income depends mainly upon their own work. The proposer has to fill in the proposal form to get this insurance. The premium payable depends upon the age of insured. The risk commences from the payment of premium and the benefits begin from the day the insured is disabled due to accident or sickness. No benefits are payable for seven days disability or less. If disability lasts longer than seven days benefit is payable from the start of disability. A notice of disability must be given by the insured along with the details of medical expenses incurred. The company can examine the insured at any time during the period of disablement. Since permanent sickness contacts are expensive, these are not vet popular. So alternative schemes like immediate benefits plan ' and deferred benefits plan are taken as these plans are cheaper but no benefits are paid for the first month or first three or six months.