Iwahori Life Insurance (GYRT)

Life Insurance

In the event of the Insured’s death while the Policy is in force, the sum insured as shown in the Schedule of Benefits will be payable to the beneficiaries of the Insured.

If the case of death is due to COVID-19 and there is no co-morbidity with such illness and the insurance coverage is in-force, 1CISP will pay the Life Insurance Benefit as stipulated in the Schedule of Benefits.

Accidental Death and Dismemberment (for 18 – 65 years old)

Upon receipt of due proof that the death or dismemberment of the Member resulted directly from bodily injury sustained in an accident within one hundred eighty (180) days from date of sustaining such injury, the 1CISP shall pay an indemnity according to the following schedule, subject to the condition that the aggregate benefits payable in respect of any one accident resulting in loss/es shall not exceed the principal sum as shown in the Schedule of Benefits:

a.) Accidental Death = 100% of the Principal Sum

b.) Loss of Both Hands, Both Feet, Sight of Both Eyes, One Hand and One Foot, One Hand and Sight of One Eye, One Foot and Sight of One Eye = 100% of the Principal Sum

c.) Loss of One Hand or One Foot or Sight of One Eye = 50% of the Principal Sum

In any policy year, the aggregate benefits payable under the Dismemberment Benefit of this Group Policy in respect of one or more accidents resulting in loss/es within 180 days from the date of accident(s) shall not exceed the principal sum. However, the payment of the principal sum for such loss(es) shall not terminate the Group Policy in so far as the Accidental Death Benefit is concerned.

In any policy year, the amount of benefit payable for loss of life arising from independent/unrelated accident/event shall always be the principal sum.

Any partial benefit already paid for any loss(es) shall not be carried over in the subsequent policy year.