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This policy is a contract
made between the Insured Person and American Life Insurance Company-General
Insurance Division hereinafter referred to as the Company. The Company agrees to
provide insurance on the basis set out in this Policy provided the premium is
paid when due and the Company agrees to accept it. Any endorsement to the
Policy shall form part of the Policy.
PERIOD OF INSURANCE
This Policy does
not apply to events that occur after the expiration date of the Policy, or if
the Insured Person returns from his Insured Journey before this date, or on the
date he returns to the Point of Departure. This Policy cannot be cancelled once
an Insured Journey has commenced or after the expiry date of the Insured
Journey. For Annual Multi Trip Plan, cover will terminate on the Insured
Person’s return to the Point of Departure and recommence on his next Insured
Journey. The maximum period for any Insured Journey on an Annual Multi Trip
Plan is restricted to 90 days.
This Policy will
provide cover for Insured Journeys that are:
1)
Booked
after or
2)
Commenced after; the start date of coverage appearing on the policy schedule.
PREMIUM PAYMENTS
The Insured Person
is liable for the premium; the premium is payable in advance and the Company
shall not be liable for any claim arising under this Policy that occurs prior to
receipt of the premium. The Company shall not be obliged to accept premium
tendered to it or to any intermediary after such date, but may do so upon such
terms as it in its sole discretion may determine. The Company reserves the right
to ask for proof of payment of premium at any time. Such proof must be to the
Company’s satisfaction.
MAXIMUM AMOUNT
PAYABLE
1)
No Insured Person shall be entitled to recover a benefit exceeding 100% of the
sum for an Insured Event as reflected in the Table of Benefits.
2)
If two or more travel policies issued by the Company or any other member company
of American International Group, Inc. (AIG) apply to the same claim, the maximum
amount payable by AIG or a member company under all such policies shall not
exceed the limit of liability of whichever of such policies has the highest
applicable limit of liability. Nothing contained herein shall be construed to
increase the limit of liability of this Policy.
CANCELLATION/TERMINATION
Cancellation
The Company may cancel the
Policy at any time by written notice
delivered to the Insured Person or mailed to the last address as shown by the
records of the Company stating when not less than seven (7) days thereafter such
cancellation shall be effective. Such cancellation shall be without prejudice to
any valid claim-originating prior thereto.
In the event the individual
insurance offered to an Insured Person under the Policy for which the Premium
has been paid in advance is cancelled by written notice delivered to the Company
and by returning the original copy of the Policy (if applicable) prior to the
Insured Journey commencements, 85% of the premium shall be refunded.
In the event of termination
of coverage of the Spouse and/or Child due to payment of the Principal Sum, the
Company will not refund any premium.
Termination
This Policy will
terminate on the earliest of the following dates:
1)
The date of the Insured Person’s return to the Point of Departure in his
Country of Residence.
For Annual Multi
Trip Plan, cover will terminate on the Insured Person’s return to the Point of
Departure and recommence on his next Insured Journey;
or
2)
The
date that the Insured Person reaches the maximum age for the cover selected.
This Policy will terminate on the expiry date appearing on the Policy
3)
The date the premium is due and not paid.
Plan Names
The Policy Schedule refers to the persons insured under this Policy by reference
to the "Plan Selected". The Plan names are as follows:
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Platinum
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Gold
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Schengen
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Family
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