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Contributor
Ragini Khanna
Posts: 39
Registered: ‎09-06-2017

What are options under multi year Home Insurance?

What are options under multi year Home Insurance?

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Accepted Solutions
Frequent Contributor
Arti
Posts: 163
Registered: ‎30-08-2021
Solution

Re: What are options under multi year Home Insurance?

Dear Sir , 

 

Under multi year customer can opt for

2yr 
3yr 
4yr 
5 yr Plan 

 

 

View solution in original post

2 REPLIES 2
Contributor
Dinal Shah
Posts: 25
Registered: ‎28-08-2017

Re: What are options under multi year Home Insurance?

Option I – Method A which is Increase in Sum Insured at end of 12 months
Option II – Method B which is Fixed Sum Insured in lieu of Long term Discount.
Option I- Method A
> Allow automatic increase in the Sum Insured throughout the period of the policy in return of higher premium to be collected in advance.
> Sum Insured will increase by 10% of original Sum Insured at end of every 12 months upto number of years opted by the customer.
> No discount in premium.
Option II- Method B
There shall not be any automatic increase in sum insured as in method A. However appropriate discounts shall be allowed on applicable gross premium as per selection of policy period

Frequent Contributor
Arti
Posts: 163
Registered: ‎30-08-2021
Solution

Re: What are options under multi year Home Insurance?

Dear Sir , 

 

Under multi year customer can opt for

2yr 
3yr 
4yr 
5 yr Plan 

 

 

View solution in original post