All accident contract whether to be issued as a policy or rider and written for one year or less or for successive policy years shall contain in substance the following:

1. The contracts shall terminate in the event of accidental death as provided therein or upon its expiry.

2. In any policy year, the total benefits payable under the contract in respect of any one accident resulting in loss(es) within 180 days from date of accident(s) shall be the principal sum (e.g. loss of life, loss of both hands and feet, loss of sight of both eyes and either hand or foot, etc.).

3. In any policy year, the aggregate benefits payable under the Dismemberment/Disability Benefit of the contract in respect of one or more accident(s) resulting in loss(es) within 180 days from date of accident(s) shall not exceed the principal sum. (i.e. For subsequent accident resulting in any loss(es) which would make the aggregate benefits exceed the principal sum, the amount(s) payable under the Dismemberment/Disability Benefit shall be the principal sum less the amount(s) paid for previous loss(es). However, the payment of the principal sum for such loss(es) shall not terminate the contract in so far as accidental death benefit is concerned.

4. In any policy year the amount of benefit payable for loss of life arising from independent/unrelated accident/event shall always be the principal sum.

5. Any partial benefit already paid for any loss(es) shall not be carried over in the subsequent policy year. (i.e. The amount of benefits to be paid in the succeeding policy year shall not be reduced by any amount paid in the preceding policy year.)

This Circular shall take effect immediately.

Adopted: 24 July 1995

(SGD.) EDUARDO T. MALINIS
Deputy Insurance Commissioner
Officer-In-Charge