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Terms & Conditions
Terms & Conditions
Abu Dhabi National Insurance Company (ADNIC)
In association with
Emirates NBD PJSC
We welcome you as a Emirates NBD Account Holder to enjoy the benefits offered under the Group Life Insurance Policy (hereinafter referred to as ‘’the Policy’’) issued by Abu Dhabi National Insurance Company (hereinafter referred to as ‘’the Company’’) in favour of Emirates NBD PJSC (hereinafter referred to as ‘’the Policyholder’’). As a valued Emirates NBD Value Account Holder, you are automatically warranted an insurance cover that equals AED100,000 in the event of death due to any cause. We request you to read through the cover details in order to understand the scope of the cover offered.
For the purpose of this policy, the following definitions shall apply unless the context otherwise requires:
Accident means a sudden, unintended, fortuitous, violent, visible and external event and does not include any naturally occurring condition or degenerative process, which occurs during the period of insurance at an identifiable time and place including exposure resulting from a mishap to a conveyance in which the Insured Account Holder is travelling.
Agreement means a period Value Account agreement made on or after the policy date, between the Policyholder and an Insured Account Holder
Certificate of Insurance means the schedule of benefits duly signed which includes the Certificate number, the name of the Insured Person, date of birth, beneficiary, relationship of beneficiary, relationship of beneficiary to the insured, the benefits, limits as well as the commencement date.
Benefit means the Sum Insured payable under the scope of this cover in respect of Death of the Insured Member.
Bodily Injury means bodily injury which:
(a) is sustained by an Insured Member during the Period of Insurance.
(b) is caused by an accident, and
(c) solely and independently of any other cause, except illness directly resulting from, or surgical or medical treatment rendered necessary by, such injury, occasions the disablement of the Insured Account holder within 120 days from the date of the accident by which such injury is caused
Death means death any cause except as stated under the List of Exclusions mentioned under this policy.
Date of Event means any one of the following:
In respect of Death the date of death resulting from any cause except those expressly excluded, happening or manifesting after the Commencement Date and during the Period of Insurance.
Enrollment Form shall mean, unless otherwise arranged by mutual agreement between the Policyholder and Company, the Value Account application form with the necessary legal Insurance requirements & information included, as to make it valid as a single form for both account & insurance application.
Free Cover Limit (FCL) means the maximum amount of insurance cover per Insured Account Holder and as per the defined maximum age of the Insured Account Holder that does not require any evidence of insurability from participating Account holders
Insured Account Holder/Member means the customers of the Policyholder who have been granted the Value Account facility by virtue of an agreement and who meet the conditions of eligibility mentioned hereunder.
Existing Members are the insured members who have been granted Value Account Facility before the Policy Commencement Date. This is inclusive of all Existing Value Accountholders availing additional Value Account Facility post Policy Commencement Date.
New Account Holder/Members are the insured members who have been granted Value Account facility after the Policy Commencement Date.
Value Account means an account by the Insured member with the Policyholder through a written agreement between the Policyholder and the Insured Member, which entails deposit in accordance with the agreement with the Policyholder
Policy shall mean this agreement, any supplementary contracts or endorsements herein, amendments signed by the Company and the Policyholder, along with any insurance application, health declaration, medical questionnaire, medical evidences of the insured Account holders and summaries of cover, which together constitute entire contract between the Company and Policyholder.
Policy Year means any period of twelve months commencing on any Policy Anniversary Date
Policyholder means the financial institution granting the Value Account Facility to the Insured Members.
Period of Insurance means the period commencing from the Commencement date of insurance for which the Premium is fully paid, taking in to account the Grace Period applicable.
Sickness means sickness or disease of the insured member which commences and manifests itself after he/she meets the eligibility requirements, the date of endorsement or reinstatement of this benefits whichever is later.
Scheduled Airline means any civilian aircraft operated by a civilian scheduled air carrier holding a certificate, license or similar authorization for a civilian scheduled air carrier transport issued by the country of the aircraft’s registry, and which in accordance therewith flies, maintains and publishes tariffs for regular passenger service between named cities at regular and specified times, or regular or chartered flights operated by such carrier.
Terrorism means the use or threatened use of force or violence against person or property, or commission of an act dangerous to human life or property or commission of an act that interferes with or disrupts an electronic communication system, undertaken by any person or group, whether or not acting on behalf of or in any connection with organization, government, power, authority or military force, when the effect is to intimidate, coerce or harm a government, civilian population or any segment of the economy.
Travel means any transport conveyance which is deemed to include private motor vehicle as well as public aircraft, ships, trains and busses licensed by the appropriate governmental authority to carry passengers on a permitted route with scheduled ports, terminals or stations of embarkation and disembarkation.
UAE means United Arab Emirates
War means war, whether declared or not, or any warlike activities, including use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends
War like operations means hostilities, mutiny, riot, civil commotion, civil war, rebellion, revolution, insurrection, conspiracy, military or usurped power and martial law or state of siege.
Death due to any cause
In the event of Death of any Insured Borrower, the Company shall pay to the designated beneficiary or legal heirs of Insured Value Account Holder an amount equal to AED100,000.
ELIGIBILITY CONDITIONS FOR ALL BENEFITS:
Eligible insured are all new and existing Account Holders who become a Value Account Holder after the Commencement Date of the Policy agreed between the Policyholder and Company.
Type of Account: Value Account: All new and existing Value Accounts initiated by the Policyholder to natural persons.
Joint Account Holders – are covered and reimbursed at 100% in case of the death of one Account Holder or both Account Holders, subject to payment of agreed Joint Account Holder premium rate.
Such additional joint Account Holders are restricted to only one person per account.
In case of joint life policies, all joint lives shall undergo underwriting according to the full account balance at the time of entry into the scheme. That is, for underwriting purposes, all individual members of a joint life policy are treated as having deposited into the accounts individually.
COVERAGE EFFECTIVE DATE :
The individual insurance cover shall become effective on the latest of these two dates:
The date the individual Account Holder(s) application has been accepted by the Company
The date the account opening agreement between the Account Holder and the Policyholder comes into effect and is legally binding on the Insured Account Holder.
Eligible Account Holders are individuals who have Value Deposit Account with the Policyholder and meet the following criteria at time of completing their Account/ Insurance Enrolment form/ medical questionnaire/medical evidences:
I. All existing and new Value Account Holders for whom the Policyholder holds such scheme on a compulsory basis
II. At the date of Enrolment the Insured Account holder should be within the Age Limits mentioned below
Minimum age at Entry
Maximum age at Entry
Maximum age at Claim
III. Account Holder named in the Account Opening form
IV. acting as a private customer, not as a representative of a legal body, company or organization, nor for any professional or commercial purpose,
V. Insured Value Account Holder should be a resident of UAE.
VI. Any other eligibility conditions as stipulated by the Policyholder
Maximum Sum Insured: A maximum aggregate amount of AED 100,000/- on any one Insured Account Holder shall apply in irrespective of number of Value Accounts held by the Insured Account Holder.
Free Cover Limit (FCL): AED100,000
The insurance of an Insured Value Accountholder shall automatically terminate at the earliest time below:
I. The Insured Account holder completes his 70th birthday
II. Premium is not paid when due,
III. Upon maturity/closure of the Value Account of the Insured Member
IV. Upon cancellation by the Policyholder of the value account agreement of the Insured Member, whatever the reason;
V. Upon notification of a Death claim of the Insured Member or one of the Insured Members in case of joint account holders
VI. Cancellation of this Policy by the Policyholder or company at any time in accordance with the policy terms & conditions.
This Insurance does not cover death as consequences of:
I. Self-inflicted bodily injury regardless of its date and of its cause, or Suicide within 12 months of enrolment to this scheme
II. A Sickness directly or indirectly attributed to HIV and/or any related illness including AIDS, or
III. Chronic alcoholism or, abuse of alcohol or, abuse or addiction to drugs; or
IV. Civil war, war, invasion or warlike operations, act of foreign enemy, hostilities, revolt, mutiny, riots, strike, civil common, rebellion, revolution, insurrection, acts of terrorist to such a degree and extent of the involvement or engagement of the insured in these conditions without any cause; or
V. Exposure of the body voluntarily, or not, to nuclear power or radioactivity in war or warlike operations or in peace; or Military service in the armed forces or security forces of any country or any authority; however if a Account Holder who is a policeman or armed forces personnel dies or becomes permanently disabled while performing day-to day course of duty, the life benefit under this policy shall be payable, No benefit will be payable for members of the police or armed forces if the claim is due to any of the following events: civil war, war, invasion or warlike operations, act of foreign enemy, hostilities, revolt, mutiny, riots, strike, civil commotion, rebellion, revolution, insurrection, acts of terrorism, any kind of training, exercise or assignment involving the use of ammunition or explosives of any kind.
VI. The commission of or attempted commission of an assault or any unlawful act, or being engaged in any illegal activity or felony, or
VII. Flight of the insured in any kind of aircraft except as a fare-paying passenger in an aircraft operated on a regular schedule by an incorporated common carrier for passenger service over its established air route, or he is transported as a patient or injured or attendant or hostess with an ambulance or rescue – aircraft or helicopter.
VIII. Especially for the case of Death, suicide while sane or insane shall be excluded during the first year of the insurance coverage
IX. Nuclear Radiation, Nuclear Fission, Nuclear Fusion and/or Radioactive Contamination. However, medical professionals in the field of radiology are covered
X. Insured Account Holder engaging or taking part in any hazardous sports or activities involving a motor engine (including rallies), boxing, scuba / sky diving, parachuting or hang-gliding
Any and all communications related to a claim should be addressed to the following address, marked to the attention of the Company’s claims department:
Abu Dhabi National Insurance Company
P. O. Box: 839, Abu Dhabi, United Arab Emirates.
Telephone : 02 4080100/fax no: 02 2 6268600
You may contact Abu Dhabi National Insurance Company (ADNIC) at the toll free no. 8008040/,or send an email to service-emiratesnbd@ADNIC.ae
Insured Account Holder or insured Account Holder’s representative will contact the Company and submit all the applicable claim documents as advised by ADNIC’s claim department.
Insured Ladies Banking Account Holder or insured Ladies Banking Account Holder’s representative will contact the Company and submit all the applicable claim documents as advised by ADNIC’s claim department.
The claims handling procedure for the insurance effected with the Company, as below:
I. Written notice of accident/ death/ injury/illness which could result in a claim being made under the policy must be given to the Company immediately.
II. Such notification, apart from stating name of the employee in respect of whom the claim is reported, should provide basic details including date of death/ accident/sickness and the type of benefit claimed.
III. Upon receipt of claim notification, the Company shall:
a. Register the claim and allocate a claim number, to be quoted in all subsequent communications relating to that claim.
b. Advice the claim number to the insured and request documentation considered necessary and reasonable for processing of the claim.
IV. Upon receipt of the above, the corresponding claim form complete in all respects shall be submitted to the Company together with all supporting documents requested.
V. Upon receipt of the documented claim from the insured, the Company shall advise any further documentation required to substantiate the claim or process the claim for settlement.
VI. For all valid claims payable in accordance with the terms and conditions of the policy, the discharge receipt would be issued within fourteen (14) working days of receipt by the Company of all necessary supporting documents.
I. Claim Form duly completed and signed by authorized signatory
II. Accident Report (in case of Accident)
III. Death Certificate (in original). In case of death taking place outside U.A.E., such original Death certificate issued abroad should be attested by U.A.E Embassy
IV. Post Mortem Report (wherever required)
V. Police Report – if death due to accident/Road Traffic Accident
VI. Medical Report from a hospital with a detailed diagnosis, history of illness (if natural death) and cause of death, if the same is not clearly mentioned in death certificate.
VII. Copy of Passport including visa page (for expatriates)
VIII. Value Account Application Form/s
IX. Any other document found necessary
Abu Dhabi National Insurance Company (herein after called the Company) certifies that they have issued a Master policy To Emirates NBD PJSC under which the Emirates NBD Account Holder who is a resident of the UAE and meeting the eligibility criteria for this cover will be insured under the said master policy.
Note: The above is only an outline of the terms under this master policy. Full terms and exclusions of the master policy will apply to all Emirates NBD Account Holders.
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