Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points
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There are certain waiting periods (usually 48 months) with regard to pre-existing diseases (PEDs), some specific illnesses like cataract, some procedures like hysterectomy etc., for a defined period which usually range from one year to four years
Personal Accident and disability cover - provides compensation due to death and disability in the event of unforeseen accident
Accident usually denotes a sudden, unforeseen and an unexpected event caused by external, violent and visible means (but does not include any illness or disease),which results in physical bodily injury but does not include mental, nervous or emotional disorders, depression or anxiety
Permanent total disability (PTD): means becoming totally disabled for lifetime viz. paralysis of all four limbs, comatose condition, loss of both eyes/both hands/both limbs or one hand and one eye and one leg or one hand and one leg
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