Remit Protect - Terms and Conditions

DEFINITIONS

Accident
means where the bodily injury is caused solely and directly by external violent means is unexpected and unforeseeable and not attributable to the Individual Covered intentional self-injury or suicide.

Participant / Bank
means Emirates Islamic, Dubai, U.A.E

Beneficiary
means the legal heirs of the Individual Covered to whom the Takaful benefits under the Takaful Contract would be paid in case of Death of the Individual Covered. Beneficiary shall be spouse or children or parents of the Individual Covered.

Bodily Injury
means injury which is caused by an Accident which within twelve (12) months from the date of such Accident results in Individual Covered Death.

Commencement Date
means the date the Individual Covered undertakes a remittance transaction with the Bank.

Contribution
means the amount payable by the Individual Covered to the Company per remittance transaction per month, in consideration of the cover provided by the Company.

Company
means Takaful Emarat - Insurance Company P.S.C.

Coverage Amount
means the amount payable, subject to the terms and conditions, by the Company to the Beneficiary.

Date of Event
means the date of Death resulting from an Accident or due to sickness or natural causes happening after the Commencement Date and during the Period of Cover.

Death
means Death by Accident or Death due to sickness or natural causes.

Individual Covered
means an individual using the facility at Bank to remit money overseas, who has not been disqualified by the provisions of this Takaful Contract to be eligible to receive the benefits under this Takaful Contract .

Period of Cover
30 days from the remittance transaction date.

Takaful Benefit
means the indemnity payable under the scope of this Takaful Contract in respect of Death due to Accident or due to sickness or natural causes.

Terrorism
Act of Terrorism means an act including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological, or ethnic purposes or reasons including the intention to influence any government and/or to put the public, or any section of the public, in fear.

War
means War, whether declared or not, or any warlike activities, including use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends.

Warlike operations
means hostilities, mutiny, riot, civil commotion, civil war, rebellion, revolution, insurrection, conspiracy, military or usurped power and martial law or state of siege.

Passive War
means a situation where the Individual Covered is not actively involved in War, whether declared or not, or any Warlike operations, including use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends.

In this Takaful Contract, where the context admits, words importing the masculine gender shall include the feminine gender and words importing singular member shall include the plural and vice versa.

ELIGIBILITY CONDITIONS


  • Individual Covered shall be within the age criteria mentioned herein;
  • Individual Covered should be a resident of UAE and Indian or Pakistani nationality;

SCOPE OF COVER


Subject to the terms and conditions provided in this Takaful Contract the Company shall indemnify the Participant as hereinafter provided:

SECTION 1 - DEATH DUE TO SICKNESS OR NATURAL CAUSES
In the event of Death of an Individual Covered due to sickness or natural causes arising out of any cause other than those specifically excluded herein, after the Commencement Date and during the Period of Cover, the Company shall pay the Beneficiary the Coverage Amount in accordance with the terms and conditions of this Takaful Contract.

SECTION 2 - ACCIDENTAL DEATH BENEFIT
In the event of a Bodily Injury which results in Death of an Individual Covered within 365 days after the date of the Accident, after the Commencement Date and during the Period of Cover, the Company shall pay the Beneficiary the Coverage Amount in accordance with the terms and conditions of this Takaful Contract.

Coverage Amount:
SECTION 1 - DEATH DUE TO SICKNESS OR NATURAL CAUSES:
The coverage amount per transaction is INR 5,000/- for Indian customers & PKR 5,000/- for Pakistan customers
SECTION 2 - ACCIDENTAL DEATH BENEFIT
The coverage amount per transaction is INR 500,000/- for Indian customers & PKR 500,000/- for Pakistan customers

CONDITIONS


1.CONTRACT
This Takaful Contract, and any endorsements, if any, shall constitute the entire contract between the parties. All statements made by the Individual Covered shall, in the absence of fraud, be deemed representations and not warranties. No such statement shall void this Takaful Contract or be used in defence of a claim hereunder.
No Agent but only a duly authorised Officer of the Company has the power on behalf of the Company to extend the time for the payment of Contribution or in any way to modify this Contract.
All benefits under this Takaful Contract are payable at the Registered Office of the Company situated in UAE.

2. CLAIM INTIMATION
Any claim under this Takaful Contract shall be intimated to the Company as soon as practicable but in any event within 180 days from the Date of Event.

3. FRAUDULENT CLAIMS
If the claim is in any respect fraudulent or if any fraudulent means or devices are used by the Individual Covered or his representatives or by anyone acting on his or their behalf to obtain any Benefit under this Takaful Contract, all benefits hereunder shall be forfeited in respect of that Individual Covered.

4. CANCELLATION OF CONTRACT
It is hereby noted and agreed that either party may cancel this Takaful Contract by giving 3 months written notice to that effect. In the event of cancellation of the Takaful Contract by the Bank or Company the Contribution adjustment shall be made on the basis of the monthly adjustments up to the month of cancellation for the Takaful Contract period.
    On such notice of cancellation:
  • The cover on the in-force portfolio is held until the day 3 months' notice period ends; and
  • The Bank can submit claims documents up to one (1) year days from the date of event where the Date of Event falls within the period of Takaful Contract.

5. ASSIGNMENT
Neither party to this Takaful Contract shall directly or indirectly assign this Takaful Contract or any of its rights and obligations, without the prior written approval of the other party.

6. ARBITRATION
If any difference shall arise as to the amount to be paid under this Takaful Contract (liability being otherwise admitted) such difference shall be referred to an arbitrator to be appointed by the parties in accordance with the relevant statutory provisions in force at the time. Where any difference is by this condition to be referred to arbitration the making of an award shall be a condition precedent to any right of action against the Company.

7. JURISDICTION
This Agreement is governed by UAE Law & all claims and/or disputes shall be subject to the Jurisdiction of the Competent Courts of United Arab Emirates.

8. COMPLIANCE WITH TAKAFUL CONTRACT PROVISIONS
Failure to comply with any of the provisions contained in the Takaful Contract shall invalidate all claims hereunder.

UNIFORM PROVISIONS


1. COVERAGE EFFECTIVE DATE

Coverage in respect of the Individual Covered shall commence from the remittance transaction date.

2. TERMINATION

Coverage of any Individual Covered shall terminate immediately on the earliest of:
(1) the date the Takaful Contract is terminated;
(2) the date the Individual Covered no longer meets the eligibility criteria;
(3) 30 days from the remittance transaction date;
(4) the date the benefits are paid to the extent of the Coverage Amount in respect of the Individual Covered ;
(5) the date the Individual Covered has attained the maximum coverage age.

Any such termination shall be without prejudice to any valid claim originating prior to the date of termination.

3. AGE

Minimum Issue Age - 18 completed years
Maximum Issue Age - 64 completed years
Maximum Cover Age - 65 completed years
If only the year of birth of an Individual Covered is provided to the Company then the date of birth for this Takaful Contract shall be December 31st of such Individual Covered's year of birth unless it is mentioned and confirmed by passport or National ID.

4. CLAIMS PROCEDURE

a.) All claims should be reported to the Company immediately but not later than 180 days from Date of Event.
b.) Claims shall be intimated through the Company call center
c.) The call centre agent will forward the claim form to the Beneficiary and guide them to submit the claim documents.
d.) Documents to support the claim required by the Company, include but are not limited to the following:
  • Copy of Death Certificate
  • Copy of Police Report
  • Medical Report ** from a licenced and registered medical officer with detailed diagnosis and cause of Death if required by the Company when the actual cause of Death is not clearly mentioned in the Death certificate.
  • Copy of Passport with valid Visa page (expatriates)
  • Remittance transaction statement for the last 30 days prior to date of Death.
  • Any other documents as may be required to substantiate the claim.

The Beneficiary/their representative shall submit the above documents along with the filled up claim form within one (1) year from the Date of Event.
**Medical report should be obtained from the chief medical officer or any other registered medical practitioner recognised by the local authorities
All papers as indicated above may be required to be produced in original (other than those surrendered to the authorities) for verification before the final settlement of claim.

5. CONFORMITY WITH STATUTES

Any provision of the Takaful Contract which, on the Takaful Contract Commencement Date, is in conflict with statutes of the jurisdiction in which the Takaful Contract is issued, is hereby amended to conform to the minimum requirements of such statutes.

6. LEGAL ACTIONS

No action at law or in equity shall be brought to recover on the Takaful Contract prior to the expiration of sixty (60) days after written proof of loss has been furnished in accordance with the requirements of the Takaful Contract. No such action shall be brought after the expiration of three (3) years after the time written proof of loss is required to be furnished.

7. TERRITORIAL LIMITS

24 hours worldwide.

8. OTHER TAKAFUL POLICY

This Takaful Contract is independent of any other Takaful Contract held by Individual Covered.

EXCLUSIONS

Exclusions applicable to death due to sickness or natural causes:
No payment shall be made under this Contract on the Death of the Individual Covered, if such Death occurs as a result of:
i Effects or complications arising out of pregnancy or childbirth.
ii Death attributable directly or indirectly to Human Immunodeficiency Virus (HIV) and/or any HIV related illness including Acquired Immune Deficiency Syndrome (AIDS) and /or any mutant derivatives or variations thereof.


Exclusions applicable accidental benefits:
No payment shall be made under this Contract on the Accident incurred by the Individual Covered, if such Accident occurs as a result of:

i) Motor cycling
a) as a driver or passenger on machines with more than 250 cc engine capacity; or
b) as a driver if the Individual Covered does not have a valid motor cycle licence
ii) Mountaineering or rock climbing that uses ropes or guides, bungee jumping, scuba diving, pot holing or organised team sports.
iii) Big Game Hunting, BMX Stunt Riding, Boxing, Free Climb Mountaineering, Go Carting, Gymnastic, High Diving (other than from a purpose built diving board over a man-made swimming pool), Jousting, Martial Arts, Micro-lighting, Motor Rallies or Competitions, Outdoor Endurance, Outward Bound Courses, Safaris with guns, Show Jumping, Stunt Events, Underground Activities (other than as a part of an organised excursion or tour), Water Ski Jumping, White Water Rafting, Wrestling or any variations thereof.
iv) Competing in or practicing for speed or time trials, sprints or racing of any kind.
v) Taking part in expeditions or being a crewmember on a vessel.
vi) Losses sustained or contracted in consequence of a Individual Covered being intoxicated or under the influence of any narcotic or drug unless administered on the advice of a physician.
vii) Engaged in aviation, gliding, or any other form of aerial flight other than as a fare paying passenger, pilot and crew in a commercially licensed aircraft of a recognized airline or charter service operating on a regular route;
viii) Any breach of criminal law by the Individual Covered or an assault provoked by him;
ix) Consequent upon the following:

  • War other than Passive War. "Passive War" cover is excluded if Individual Covered is travelling to a country after war has been declared in that country or after it has been recognized as a war zone by the United Nations or where there are war like operations.
  • Invasion
  • Act of an enemy foreign to the nationality of the Individual Covered or the country in, or over, which the act occurs
  • Civil war
  • Riot
  • Rebellion
  • Insurrection
  • Revolution
  • Overthrow of the legally constituted government
  • Terrorist activity of any kind
  • Explosions of war weapons
  • Release of weapons of mass destruction that do not involve an explosive sequence
  • Murder or assault subsequently proved in a legally constituted court to have been the act of agents of a state foreign to the nationality of the Individual Covered whether war be declared with that state or not.

x) Loss resulting from accidental or deliberate spread or use of Nuclear, Biological or Chemical material including loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any event where Nuclear, Biological, and Chemical material is involved.
xi) Attempted suicide or self-inflicted injury whilst sane or insane within 1 year after the date on which the takaful assurance of that Individual Covered first commenced.
xii) All charges, commissions and fees are exclusive of Value Added Tax or any other similar sales tax (VAT). The Customer hereby agrees to pay an amount in respect of any applicable VAT.


 

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