Students Welfare Insurance Scheme(SWIS)
Product Description
Student Welfare Insurance Scheme is designed taking into consideration the peculiar needs of students through provision of benefits commensurate with the nature of risks they are generally exposed to.
Who it is for?
Tertiary Institutions: Public & Private Universities, Polytechnics, Colleges of Education
- The institution is the policyholder while the students are the insured lives.
- The scheme is arranged to provide benefits for both accidental and natural death. Premiums are usually paid by the students along with the school bill.
- Policy is renewable annually.
- Coverage is on 24 hours basis.
- Provides Lump Sum cash benefits for next of kin.
- Scheme is essentially non-medical.
– NATURAL OR ACCIDENTAL DEATH
The scheme covers the insured persons (students) against death resulting from accident or natural causes at all times (24 hours). This protection exists even on and off the campus.
– MEDICAL EXPENSES
This is to cover medical and hospital expenses incurred in the treatment of the insured person. Medical expenses are not usually paid in isolation. For expenses to be recoverable from the insurers, the insured person must have been involved in an accident, which resulted in injury. Thus, this scheme is designed to protect the insured students against bodily injury resulting directly from accident caused by external, violent and visible means.
- External: Something outside the body must have activated the injury.
- Violent: This coincides with the general idea of accident, usually the smallest violent event suffices.
- Visible: The triggering cause of injury must be visible.
- Accidental Injury: Accident refers to an unexpected, untoward or unplanned event. The scheme does not cover deliberate or self-inflicted injury.
Therefore CULT related injuries or deaths must be proved otherwise by the school authorities for the claim to be sustained. Cult members will not be covered in the event of any injury resulting from cultism.
For the purpose of this scheme, the institution is the insured while the students of the school are the insured persons. In the event of any claim, the discharge of the insured is good enough and no insured person has an independent action against the insurers.
