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WELCOMETO
OUR PRESENTATION
Managem
ent of Insurance Business - Black & White
Maker
2 Presentation topic
Analysis of the IUBAT Student Group Health
Insurance Scheme (SGHIS)Agreement paper
26/11/2015
Managem
ent of Insurance Business - Black & White
Maker
3Prepared by: Black & White
Promiz Roy AnikID# 13102229
Silvy Bhuyian ID# 13102058
Samsun NaharID# 13102056
26/11/2015
Milia Rahman ID# 13102101
Managem
ent of Insurance Business - Black & White
Maker
4Prepared for :
Instructor: Abdullah Al Yousuf Khan
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Managem
ent of Insurance Business - Black & White
Maker
5Aim
The aim of our presentation is to provide clear idea about the IUBAT students group health insurance scheme.
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Managem
ent of Insurance Business - Black & White
Maker
6SequencesIntroductio
n Objectives
Scope of the report
Limitations of the report
Methodology
A brief description of
the SGHIS
Analysis of the agreement
paper Findings
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Managem
ent of Insurance Business - Black & White
Maker
7 Introduction of SGHIS
Introduced: in May15, 2011 Between
International university of Business Progressive Life Insurance Agriculture & Technology Company Limited
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And
Managem
ent of Insurance Business - Black & White
Maker
8Objectives
Broad Objective: The broad objective of this report is to analyze the policy contract of the IUBAT student
group health insurance scheme .
Specific Objective:
To gain knowledge of the IUBAT student group health insurance scheme .
To identify what are the benefits we are going to get from SGHIS.
To know what will be our premium.
To know how we get claim amount.
To know the elements & condition of the contract.
To identify the overall Procedure & immediate support (SGHIS) of IUBAT and PLIC.
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Managem
ent of Insurance Business - Black & White
Maker
9Scope of the report
The report is only based on our critical analysis of SGHIS
in IUBAT. This analysis will focus on giving the highest priority upon student for protecting their physical and morale hazards.
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Managem
ent of Insurance Business - Black & White
Maker
10Limitations of the report
The report was conducted only analyze the IUBAT SGHIS policy agreement.
Lack of time & records. Large-scale research was not possible due to time constraints. Due to the lack of experience. Another limitation was that the data gathered could not be verified
for correctness.
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Managem
ent of Insurance Business - Black & White
Maker
11Methodology
Primary source and Secondary sources:
For doing this report class lectures, IUBAT SGHIS agreement
paper, our main book “Insurance principles and practice” and face
to face consult with our honorable faculty those are both primary
and secondary information .
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Managem
ent of Insurance Business - Black & White
Maker
12A brief description of the SGHIS
Health insurance requires sufficient information and data for development of a good scheme, proper pricing, and health management.
IUBAT is committed to enhancing the academic success of their students by helping them to achieve and maintain the highest levels of health, reduce risks and well being as possible.
It’s a welfare plan for the students of IUBAT.
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Managem
ent of Insurance Business - Black & White
Maker
13Characteristics All students are covered. Acute sickness or accidental medical bills are paid by the insurer. Gives peace of mind to both students and parents. Direct payment if hospitalization in: 1. Ayesha Memorial Hospital 2. Apollo Hospital 3. Samorita Hospital 4. Uttara Crescent Hospital For other hospital, bills are paid by the insurer after providing the
valid documents.
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Managem
ent of Insurance Business - Black & White
Maker
14The benefit of this policyStudents aged up to 30 years
For Hospitalization Up to the amount
Tk.100,000/year
Daily room rent Tk. 2,000
In patient treatment expense Tk. 50,000
ICU/CCU Tk.40,000
Students Pay Premium Tk.130/ semester (390 /annum)
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Managem
ent of Insurance Business - Black & White
Maker
15Action on injury or sickness
Accident & Injury: Take admission to a hospital immediately Inform Mrs. Momena Akter- IUBAT at 01711111155 within 24
hours of hospitalization. Alternatively e-mail them momena@iubat.edu &
progress@bdcom.comFor sickness: Consult a registered doctor in chamber, clinic or hospital. If admission needed inform Mrs. Momena first.
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Managem
ent of Insurance Business - Black & White
Maker
16Claim procedure of the IUBAT SGHIS
among the studentsDirect payment: Apollo, Ayesha Memorial, Samorita & Crescent Hospital bill will
be paid directly by PLIC. Up to the Limit.Indirect payment or compensation: For other hospital, the medical bill will be paid by PLIC. In a Prescribed form. With other supporting documents. Submitted to Mrs. Momena Akter. Within 15 days of discharge from the hospital.
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Managem
ent of Insurance Business - Black & White
Maker
17Supporting documents for Claim
Consultants recommendation for hospitalization. Discharge certificate. Bill of consultants(physician/surgeon) fee Bills relating to room charges, investigations and any other service Bill of medicine supported by doctors prescription and vouchers Bill relating to surgical operation charges(where applicable) Bill relating to secondary charges.
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ent of Insurance Business - Black & White
Maker
18Analysis of the agreement paper
General Elements of Contract
Special Elements of Contract
Policy conditions
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Managem
ent of Insurance Business - Black & White
Maker
19General Elements of Contract• Offer and Acceptance
(agreement)
• Legal consideration
• Competent to make contract
• Free consent
• Legal object
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ent of Insurance Business - Black & White
Maker
20Special Elements of Contract
Insurable
Interest
Utmost
Good
Faith
Indemnity
Subrogation
Warranties
Proximate Cause
Assignment and Return of premium
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ent of Insurance Business - Black & White
Maker
21Policy conditions• Commencement of risks
• Premium
• Continuation of policy
• Lapse Condition
• Claims Settlement
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Managem
ent of Insurance Business - Black & White
Maker
22Findings
A student up to the age of 30 years shall be qualified for membership of the scheme on the date of admitting the university.
PLIC don’t pay any benefit for unregistered hospital. No benefit for dental treatment. Extra premium charged for students the ages of 31 & 45 years enrolled for any
semester. We have to pay premium quarterly in advance at the time of registration for each
semester. No benefit is payable for pregnancy & childbirth. No benefit for HIV & AIDS related diseases. No benefit for dangerous game such as wrestling, boxing, hinting etc.
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ent of Insurance Business - Black & White
Maker
23Findings (cont..)
For withdrawal the claim amount students have to submit a lot of documents .
The students who are emotional or psychiatric disorders they don’t get any benefit.
Plastic surgery of an injury due to accident or burn don’t paid benefit
No seminar, program regarding IUBAT SGHIS was held in our campus.
PLIC don’t provide any benefit for surgery within the first 12 months of the
effective date of the policy for abdominal.
No benefit for expenses in respect of outdoor or domiciliary treatment .
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Managem
ent of Insurance Business - Black & White
Maker
24Recommendations Up to the age of 45 years should be qualified for the membership without any
condition imposed by the insurer. PLIC should be pay benefit for unregistered hospital. More seminar, program regarding IUBAT SGHIS Should be held in our
campus. Expenses in respect of dental treatment should be included. The students who are emotional or psychiatric disorders they should be paid
the benefit. Cosmetic or plastic treatment/surgery of an injury due to accident or burn shall
be paid the benefit. Expenses in respect of outdoor or domiciliary treatment should be included.
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ent of Insurance Business - Black & White
Maker
25Recommendations (cont…)
Injury sustained while practicing or actively taking part in any hobby should be included.
Successive confinements due to the same illness not separated at least 90 days shall not be considered as a single confinement.
We strongly recommend that expenses for confinement in excess of twenty one days must be covered. It may be covered for 30 days or 1 month.
Benefit shall be payable for surgery within the first 12 months of the effective date of the policy for abdominal or inguinal hernia, hemorrhoid/tonsil.
If the age of membership attains at 30 then his/her membership should not be ceased.
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Maker
26Conclusions
SGHIS is very essential for the students of IUBAT and as a student’s we are very lucky that they (IUBAT) has introduced this policy first time in a Non-Government University in Bangladesh. Finally we are insured on our health risk by taking the ‘IUBAT Group Health Insurance Scheme (SGHIS).
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ent of Insurance Business - Black & White
Maker
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ent of Insurance Business - Black & White
Maker
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