Scheme for students studying in Degree and Professional Colleges.

KEY FEATURES:

1. The objective of the scheme is to provide life cover and health cover to the student and the parent (father/ mother, whosever's name appears in the college records) to ensure that there is no interruption in the students studies due to any financial crisis occurring because of the death of the parent.

2. The scheme is applicable for students studying in degree and professional colleges.

3. AB Student Care will be offered to the college students through the college managements only and not to individual students. All the students in a particular college are to be covered under the scheme.

4. The College Managements will collect the premium along with the fees and remit the premium pertaining to all the students by way of one cheque to our Bank. The College Managements will be reimbursed Rs.25/- per student as handling charges.

5. The coverage for students will be for the age group 16-25 years and for parent coverage will cease at age 60 years.

6. The annual premium varies from course to course as the term/ duration of different degree and professional courses varies. The annual premium for various courses depending upon the term / duration of the course.

7. Life Coverage:

   1. For student: The life coverage for student is Rs.1,00,000/- throughout the term of the course i.e. in case of unfortunate event of the death of the student (either normal or due to accident) the parent will be paid Rs.1,00,000/-.

   2. For parent : The life coverage for parent depends on the term/ period of the course and the year of the course in which the student is studying on the date of death of the parent (father/ mother, whosever's name appears in the college records) and is as follows:

8. Annual Premium

1. Health Insurance would be made available to both the student and the parent (father/ mother, whosever's name appears in the college records) upto a sum assured of Rs.25,000/- under floater policy. No TPA services will be extended (No cashless treatment) under the scheme and the claims will be settled on reimbursement basis by M/s United India Insurance Company Limited.

2. The coverage i.e. both life and health cover, starts from the date of joining the scheme i.e. the date of BA-I for one year and subsequently on renewal every year till the course is completed.

    10. Documentation

1. No Documentation, No Medical Examination, and No Declaration of Good Health are required to be submitted.

2. No individual proposals are to be filled by the students.