But private agencies do not charge any extra amount on account of blindness.
I have policies from icici pru, hdfc and Bajaj. none of these charge any
aditional fee.
----- Original Message -----
From: "Amar Jain" <[email protected]>
To: "accessindia" <[email protected]>
Sent: Tuesday, May 21, 2013 4:01 PM
Subject: Re: [AI] Views Invited: Legal issues in an insurance contract for
people with disabilities.
Well, both arguments seem to sustain with each other. While it is true
that people with disability do not suffer accidents due to their
disability in most of the cases, but at the same time it is also true
that out of a contract of insurance, the only profit which an insurer
makes is the premium which anyone pays provided that the event insured
never takes place. In such a case, if the cause of the event is
accident due to disability, then the risk of the insurer certainly
increases.
It is also true that each government is responsible to us for
providing infrastructure, but in practicality, it does not exist
today. So in such cases, though bodies like LIC can be made
accountable on the ground of public welfare objective, but what
happens in case of private insurance?
It is also correct to say that regulator generally do not make
distinction while enforcing any regulations, and as on date I.R.D.A.
has nothing on disability related issues in terms of regulation.
I.R.D.A. is a growing regulator, but it is not wrong to say that they
are not as receptive as the regulators like RBI and SEBI are. History
proves that.
I have two key suggestions here:
1. That whenever any disability related insurance is provided, then
fixed additional charge if any, should be deducted at the time of
processing claim, if the surveyor's report shows that the accident
took place because of the disability as a main cause. And no
additional premium should be put on the insured.
This should only apply to accidents that too while walking on road,
and in no other case. (I cannot think of any other circumstance which
could lead to accident due to disability of any kind)
2. While assessing any claim, the disability expert should be
accompanied with the surveyor so to see that there is no undue
advantage being taken by the insurance company while processing the
claim as regards the disability of the insured.
I am open to suggestions.
Regards,
--
Amar Jain.
Website: www.amarjain.com
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