1. National Insurance Corporation
Background
Incorporated in 1906, Registered office in Kolkata.
Initially a subsidiary of General Insurance Corporation of India but after the
notification of the General Insurance Business (Nationalisation) Amendment Act,
th
on 7 August 2002, it has been de-linked from its holding company GIC and presently
operating as a Government of India undertaking.
NIC foreign operations carried out from its branch offices in Nepal.
It caters more than 200 policies.
It transacts general insurance business of Fire, Marine and Miscellaneous insurance.
Some of the sectors it caters to-Banking, Telecom, Aviation, Shipping, Information
Technology, Power, Oil & Energy, Agronomy, Plantations, Foreign Trade, Healthcare,
Tea, Automobile, Education, Environment, Space Research etc.
NIC has been accorded “AAA/STABLE” financial strength rating by CRISIL rating agency
Personal Accident Policy
Salient Feature
The policy compensates individual against death, loss of limbs, loss of eyesight, permanent total
disablement, permanent partial disablement and temporary total disablement, solely and directly
resulting from accidental injuries.
Scope of Cover and Premium Rating
Serial Contingency and Benefit Benefits Rate (Rs. Per mile)
No. Payable as % of CSI Covered Normal Medium Heavy
Risks Risks Risks
1. Death only - 100% 1 0.40 0.60 0.90
2. Loss of two limbs, two eyes
or one limb and one eye-100%
3. Loss of one limb or one eye-50%
4. Permanent Total Disablement 1 to 4 0.45 0.65 1.50
from injuries other than those
named above (PTD-100%)
5. Permanent Partial Disablement 1 to 5 0.90 1.25 1.90
% of CSI as Detailed in the Policy
6. Temporary Total Disablement 1 to 6 1.50 2.00 3.00
1% of CSI per week up to 104 weeks
maximum. Weekly benefits not to
exceed Rs.5,000/-

2. Risk Classification
Normal Risk:
Bureaucrats, Doctors, Lawyers, Accountants, Architects, Bankers, Consulting Engineers,
Teachers,Persons engaged in administrative functions, persons primarily engaged in occupations of
similar hazard.
Medium Risk:
Builders, Contractors, Engineers engaged in superintending functions only, Veterinary Doctors, Paid
Drivers and Persons engaged in occupations of similar hazard and not engaged in manual labour. All
persons engaged in manual labour (except those falling under heavy risk), cash carrying employees,
Garage and Motor Mechanics, Machine Operators, Drivers of Heavy Vehicles, Professional Athletes
and Sportsmen and Wood working Machinist and persons engaged in any occupations of similar
hazard.
Heavy Risk:
Persons working in underground Mines, Explosive, Magazines, and Workers involved in
electricalinstallation with High-tension supply, jockeys, Circus personal, persons engaged in activities
like racing on wheels or horseback, big game hunting, Mountaineering, Winter Sports, Skiing Ice
Skating, Ballooning, Hang gliding, River Rafting, Polo playing and persons engaged in
occupations/activities of similar hazards.
Medical Expenses
Reimbursement of medical expenses directly arising out of an accident can be covered at an
additional premium of 20% of the basic premium.Medical expenses reimbursable shall be 10% of
C.S.I. or 40% of the admissible claim whichever is lower (If no claim is admissible under the basic
cover no medical expense shall be payable).
Other Benefits:
Expenses for carriage of dead body
Expenses incurred for carriage of dead body of the insured (in case of death due to accident only, to
place of residence at 2% of C.S.I. subject to maximum Rs.1000/- shall be reimbursed.
Educational Fund
10% of C.S.I. per dependent child subject to Rs.5000/- per child up to maximum two dependent
children
Cumulative Bonus
5% of C.S.I. per claim free year shall be added to the Capital Sum Insured subject to maximum of 50%
of C.S.I.

3. Group Policies and Group Discount:
Group policies can be issued covering more than one person.Group Discount shall be granted from
5% onwards for groups consisting above 100 persons.
Geographical Limit
Worldwide
House Holder Policy
Salient Feature:
Personal effects and household goods belonging to individual householders can be
coveredunder this Insurance. It covers under single policy a number of risks.
Scope of Cover
Section I : Fire & Allied Perils
Building
Contents
This covers loss of or damage to the building/contents by fire & allied perils, such as riot,
strike,lightning, explosion, flood, cyclone, inundation earth quake etc.
Rate of Premium : Rs.2.40 per mille
Section III : All Risks
This covers loss or damage to jewellery & valuables caused by accident whilst anywhere in
India. Recent invoice/receipt or valuation Certificate should be obtained for items valued at
more than Rs.5000/- each.
Rate of Premium: Rs.10.05 per mille.
Section IV : Plate Glass
This covers loss of or damage to fixed plate glass in the insured premises by accidental breakage.
Rate of Premium: Rs. 10.05 per mille.
Section V : Breakdown of domestic appliances
This Section Covers Loss or damage to domestic appliances caused by mechanical
and/orelectrical breakdown. Sum Insured in respect of each item should be its new
replacement value.
Excess: One percent of the Sum Insured in respect of each domestic appliance

4. separately orRs.50/- whichever is higher.
Rate of premium: Rs.2.50 per mille.
Section VI : Television Sets & VCR/VCP
This covers :
a) Loss of or damage to the television apparatus and VCR/VCP in insured premises by fire
and allied perils, burglary and/or housebreaking Or theft, accidental external means and
mechanical or electrical breakdown.
b) Legal liability up to a limit of Rs.25,000/-
c) Damage to Insured’s property caused by breakage of the antenna fittings up to a limit of
Rs.3, 000/-.
Rate of Premium: Rs.10.05 per mille
Section VII : Pedal cycle
This covers:
a) loss of or damage to pedal cycle belonging to Insured by Fire and allied perils, burglary,
housebreaking or theft and accidental external means.
b) Legal liability upto a limit of Rs.10,000/-
Rate of premium: Rs.20.05 per mille
Section IX : Personal Accident
The Insured, his spouse and his children, all between the age of 5 and 70 years can be covered
under this section. The insurance covers death, permanent total disablement, permanent partial
disablement and Temporary total disablement.
Additional Benefits :
1. Expenses incurred for carriage of dead body of Insured (death due to accident only) to
place of residence subject to a maximum of 2% of Capital Sum Insured of Rs.1,000/- whichever is
lower.
2. Medical expenses arising out of an accident up to 10% of Capital Sum Insured or 40% of
the admissible claim whichever is lower against an additional Premium of 20% of basic Premium.
Rate of premium: Ranging from Rs. 0.40 to Rs.3.00 per mille (for details Please refer Policy
literature for our Personal Accident Policy).

5. Section X: Public Liability
a) The Insured is indemnified in respect of legal liability up to a limit of Rs.25,000/-
b) The Insured is indemnified against the compensation to his employees that he becomes
legally liable to pay under the Workmen’s Compensation Act 1923, Fatal Accidents Act, 1855 or
at Common Law in respect of death of or bodily injury to such employees arising out of and in
the course of employment.
Rate of Premium: Public liability - 0.50 per mille.
Workmen’s compensation - as per Workmen Compensation tariff.
Important:
The minimum premium for Section I is Rs.10/- and for other Sections Rs.5/- each. Section I-b is
compulsory and out of the remaining nine sections, any two should be opted for as minimum
requirement.
Group Discount:
1. Where more than 4 and up to 15% of non-tariff
6 sections (including tariff premium only.
Rated sections) are availed.
2. Where more than 6 sections 20% on non-tariff
(including tariff rated premium only.
Sections) are availed.
5% Service Tax shall be charged on final preimium.
Critical Illness Policy
Salient Feature
Critical Illness Policy is an exclusive benefit policy for individuals in the age group 20-65 years
covering The following critical ailments :-
 Coronary Artery Surgery.
 Cancer
 Renal Failure ie. Failure of both Kidneys.
 Stroke
 Multiple Sclerosis
 Major organ transplants like kidney, lung, pancreas or bone marrow.

6. Scope of Cover
The Sum Insured under the policy will have four levels:
 Level I - Rs. 5 Lacs
 Level II - Rs. 10 Lacs
 Level III - Rs. 20 Lacs
 Level IV - Rs. 25 Lacs
The amount chosen will be available in lump sum to the individual to take care of medical
expenses incurredIs case of the above illness. Compensation for Coronary Artery Surgery shall
be limited to 20% of the limit of indemnity.
Provisions
 In the event of a claim, the critical illness have to be diagnosed by a registered medical
practitioner, supported by radiological, histological and laboratory evidence accepted to the
company and to be reconfirmed by a Registered Medical Practitioner appointed by the
company.
 The company shall compensate the insured only once in respect of any particular critical
Illness.
 Cover under this policy shall cease upon payment of the compensation on the happening of
a critical illness and no further payment will be made for any consequent disease or any
dependent disease.
Survival Period
The insured person needs to survive for 30 successive days after the diagnosis of the critical
illness in Order to make his claim.
Waiting Period
If the critical illness incepts or manifests during the first 90 days of the inception of the policy no
claim Can be made.
Mediclaim Policy
Salient Feature
Hospitalisation for illness, disease or accident, whether including surgery or not, imposesheavy
financial burden on individuals, families, employers and welfare bodies.
Scope of Cover
Mediclaim insurance policy has been devised under the aegis of the Government of India.

7. The policy provides the following benefits.
1) Reimbursement of hospitalisation expenses which are reasonably and necessarily incurred,
under the following heads:
a) Room, boarding expenses as provided by the hospital/nursing home.
b) Nursing expenses.
c) Fees of surgeon, anaesthetist, medical practitioner, consultant and specialist.
d) Expenses on account of anaesthesia, blood, oxygen, operation theatre charges,
surgicalappliances, medicines and drugs, diagnostic material, X-ray, dialysis, chemotherapy,
radiotherapy, cost of pacemaker, artificial limbs and cost of organs and similar expenses.
2) Introduction of Sub-Limits:
The following provisions have been introduced:
a. Room, Board and Nursing Expenses as provided by the Hospital /Nursing Home- Room
Rent limit: 1 % of the Sum Insured per day subject to maximum of Rs.5000./-. I.C. Unitexpenses:
2 % of Sum Insured per day subject to maximum of Rs. 10,000/-. Over alllimits under this head:
25% of S.I. per illness.
b. surgeon, Anaesthetist, Medical Practitioner, Consultants Special fees – maximum limits
perillness – 25% of S.I.
c.Anaesthesia, Blood, Oxygen, OT charges, Surgical appliance, Medicines, drugs, Diagnostic
Material & X-Ray, Dialysis, Chemotherapy, Radiotherapy, cost of pacemaker, artificial limbsand
cost of stent and implant. Maximum limit per illness – 50% of Sum Insured.
d. Ambulance services - 1% of the sum insured subject to maximum of Rs 1000/-
provided registered ambulance is used for shifting patient from residence to hospital if admitted
to ICU or emergency ward OR from one hospital to another subject to sub-limits under ‘c’
above.
e.Hospitalization expenses of person donating an organ during the course of organ transplant
will also be payable subject to the sub-limits under ‘c’ above.
3) Premium paid for the policy towards self, spouse, dependent children and dependent
parentsare exempt from Income Tax under Sec. 80D of the l.T. Act.
4) Cost of Health Check Up and Cumulative Bonus - Benefits will accrue only if the Policy is a
renewal of ‘National’.
Additional Feature
1)Definition of Family:
a)Self (Primary Insured).
b)Spouse.
c)Dependent Children (i.e. legitimate or legally adopted children). Children above 18 years, if
employed, cannot be covered. Male children, if not employed, but a bonafide student can be
covered up to age of 25 years. Female children, if not employed, can be covered until the time
she is married.
d)Dependent parents. All members of the family must be covered under one policy.
2) Entry Age:
This insurance is available to a person between the ages of 18 to 59 years. However, the
Policy can be renewed up to the age of 80 years as stipulated in the premium chart above.

8. a) Children above the age of 3 months can be covered provided parents are covered
concurrently and suitable premium is paid. If the child above 18 years is employed or if the girl
child is married, he or she shall cease to be covered under the policy. However male child can be
covered up to the age of 25 years if he is a bonafide regular student and fully dependent on
primary insured. Female child can be covered up to the time, she is unmarried.
b) If the insured has taken continuous Mediclaim insurance policy with us for at least 5 years
prior to attaining the age of 80 years the policy can be renewed beyond the age of 80 up to the
age of 90 years as a special case with the approval of Regional In charge on case to case basis.
The premium chargeable shall be 10% of the premium for 75-80 years age slabs for proposers
above 85 and 20% of the premium for 75-80 age slabs for proposers above 90.
c) No inclusion of family member during currency of policy is permissible except for a new
born child between the age of 3 months to 6 months and newly married spouse within 60
days of marriage. Otherwise inclusion of family member shall be allowed only at the time of
renewal. Prorate premium shall be charged for such inclusion during the currency of the
policy for the unexpired period.
3) Sum Insured:
Minimum sum insured shall be Rs 50,000/- and can be increased in multiples of Rs 25,000/-
up to Rs 5 lacs. The sum insured must be identical for primary insured and the dependents.
However, the children may be covered for 50% Sum Insured as per item no. 2 above.
4)TPA option:
The premium includes cashless facility through TPA. If the policyholder does not requirecashless
facility then 6% discount on premium may be given.
5)Pre -Acceptance Health Check-up:
Pre acceptance health check-up is mandatory when age is 50 years and above and he/she is
seeking insurance cover for the first time as an individual or as member of a family where there
is break in Insurance increase in sum insured on renewal.
Proposer/Insured Person will be required to undergo the following Medical Check-up or any
other medical test as required by the Company either on his/her own or from its authorized
Network Diagnostic Centre in prescribed format. The cost shall be borne by the insured.
Age (in years) 50 and above
PHYSICAL EXAMINATION
BLOOD
URINE SUGAR
MEDICAL TEST BLOOD PRESSURE
ECHO CARDIOGRAPHY
EYE CHECK UP INCLUDING
RETINOSCOPY
If the insured was covered under any Health Insurance Policy of ‘National’ uninterruptedly for
preceding 3 years, no pre-acceptance Medical check-up is required.

9. Exclusion
The most important exclusion relates to pre-existing illness. If the insuring person had a
healthcondition, existing prior to taking the policy, which required medical treatment, the same
getsautomatically excluded in the policy. To ensure that in subsequent renewals medical
conditionsincepting since the policy was taken do not get excluded, the insuring person must
renew the policywithout break. The other exclusions for illustrative purposes are :-
a) Exclusion of certain named diseases in the first year of the policy.
b) Congenital external disease, sterility, venereal disease, intentional self-injury, use of
drugs,alcohol, rest cure etc.
c) AIDS
d) Charges primarily for diagnostic, laboratory examinations, and not related to any treatment
inhospital. So also for vitamins and tonics unless prescribed for treatment.
e) Dental treatment not requiring hospitalisation.
f) Treatment arising from or traceable to pregnancy, childbirth, including caesarean.
g) Naturopathy treatment.
EXCLUSION 4.a, 4.b & 4.c have been amended. Pre-existing diseases shall be covered after 4
continuous claims free Policy years with ‘National’. However, in case of exclusion 4.3, for
renewals, existing condition shall apply, i.e. the one year exclusion applicable earlier shall be
valid.
Product Liability Insurance
Salient Feature
Policy indemnifies the insured against legal liability to third parties in consequence of death /
bodily injury arising from the use of product sold to them.
Scope of Cover
Policy indemnifies the insured all sums which the insured shall become legally liable to pay as
damages in consequence of accidental death/bodily injury or disease to third party or damage
to their property arising out of any defect in the products manufactured and covered under the
policy after such products have left the insured’s premises.
Main Exclusion
1. Product Recall.
2. Deliberate, wilful or international non-compliance of any statutory provision.
3. Loss of goodwill, loss of market.
4. Fines, penalties, punitive/exemplary damages.
5. War and War like situations.

10. 6. Any loss occurring prior to the Retroactive Date mentioned in the policy.
Premium Rating
Premium: - Premium will depend on the kind of products produced by the insured i.e. insured’s
classification as per Risk Group. Turnover, Ratio of Any One Accident Limit to Any One Year
Limit etc.
Excess: - Policy is subject to Compulsory Excess i.e. in the event of a claim, the insured must
bear 0.50% to 1% of the limit of indemnity.
Public Liability Insurance
Salient Feature
The policy indemnifies the insured for his legal liability to pay compensation including claimant’s
cost and fees, in respect of death/injury to third party or damage to property belonging to third
party, arising out of the business of the Insured.
Scope of cover
Three types of covers are available under Public Liability Insurance
1. Act policy
2. Industrial and storage risks – Market Agreement
3. Non-Industrial Risks – Market Agreement
Indemnity Limits :
1. Act Policy
AOA (Any One Accident): Not less than the paid up capital of the Insured subject to
Maximum Rs.5 crores.
AOY (Any one Year) : Three times AOA subject to a maximum Rs. 15 crores.
2. Industrial & Storage / Non-Industrial Policy
A.O.A./A.O.Y. As per requirements of the Insured
Premium Ratings
The premium is computed taking into account the risk group classification, limits of indemnity,

11. ratio between the limits of indemnity, number of factories, gross annual turnover and the
extensions sought by Insured.
Workmen’s Compensation Insurance
Salient Feature
The employers’ legal liability under the W.C.Act to pay compensation to employees not covered
under E.S.I.Act for bodily injury or disease sustained / contracted out of and in the course of
employment is covered by this policy. Liability to employees under Indian Fatal Accident Act
1855 and at Common Law isalso covered under the policy.
Scope of Cover
a) The Workmen’s Compensation Insurance Business in India is controlled by the
Workmen’s Compensation Insurance Tariff (W.C.Tariff). The Tariff provides for two
types of Insurance as follows:
Table A: This policy provides indemnity to the Insured if any employee in the Insured’s
immediate service shall sustain bodily injury by accident or contracts disease arising out
of and in the course of his employment by the Insured in the Business and if the Insured
shall be liable to pay compensation for such injury either under.
i) Workmen’s Compensation Act, 1923 and subsequent amendments of the said Act
prior to the date of issue of the Policy provided that the insurance granted is not
extended to include any interest and/or penalty imposed on the insured on account of
his / their failure to comply with the requirements laid down under the W.C. Act, 1923,
and
ii) the Fatal Accident Act, 1855 of a Common Law
And in addition all costs and expenses incurred with the company’s consent in
defending any claim for such compensation.
Table B : This Policy provides indemnity to the Insured against their legal liability under
the Fatal Accidents Act, 1855, and at Common Law. (This Policy is not issued to cover
employees who fall within the definition of “workmen” under the Workmen’s
Compensation Act, 1923, as amended).
b) The Policy excludes
i) Any injury by accident or disease directly attributable to war, invasion, act of foreign
enemy, hostilities (whether war be declared or not), civil war, Mutiny, insurrection,
rebellion, revolution or military or usurped power.

12. ii) The Insured’s liability to employees of contractors to the Insured.
iii) Any employee who is not a workman within the meaning of the Laws
iv)Any liability of the Insured which attaches by virtue of an agreement but which
would not have attached in the absence of such agreement.
v) Any sum which the Insured would have been entitled to recover from any party but
for anagreement between the Insured and such party.