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Securite Assurance sal

Guaranteed Renewability Conversion Option

Regular price $220.00
Regular price Sale price $220.00
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Terms & Conditions

Benefit & Definition:

The Guaranteed Renewability (GR) Conversion Option is a benefit that insures the conversion to our individual medical products, irrespective of the state of health of the insured at the time of conversion.

Enrollment Conditions:

Adherents should be aged between 0 and 64 years old (both inclusive).Medical questionnaire is mandatory and should be filled by each insured at the first enrollment date and at each renewal date during the observation period.Proof of an active insurance cover must be submitted at each renewal.The conversion is applicable to IN-hospital & Ambulatory service.

Observation Period:

Applicants will obtain the right to convert their policies at the end of the observation period.For members aged less than 55 years old, the observation period is 1 year.For members aged between 55 and 64 years old, the observation period is 2 years.

Criteria of Conversion:

Proof of the last insurance cover should be submitted.Conversion should be exercised at a maximum age of 64.The conversion can only be activated when the previous cover stops, to avoid duplication of coverage.The conversion should be exercised within 30 days of termination of previous cover due to the following reasons:

Termination from employment.

Retirement.

Permanent return to home country for expats enrolled under an insurance plan in the country where they previously resided.

Termination of Cover:

The right granted under this option will be terminated in case of:

Attaining 65 years of age for the policyholder.

Attaining 25 years of age in respect of dependent children. (eligible for a separate policy on stand alone basis).

Marriage of dependent children (eligible for a separate policy with their spouse).