Product Policy

Haba InsurTech – General Insurance Policy

1. Introduction

This Insurance Policy Document represents the agreement between the Insurer and the Policyholder. It sets forth the terms, conditions, benefits, and exclusions of the insurance coverage provided under various product offerings. The policy becomes effective upon acceptance and payment of the required premium.

2. Definitions

  • Policyholder: The person or entity who owns and is responsible for the policy.
  • Insured Person/Asset: The individual, group, or asset covered under this policy.
  • Beneficiary: A person or party eligible to receive benefits in the event of a claim.
  • Premium: The periodic payment made to keep the policy active.
  • Coverage: The protection or benefits provided under this policy.
  • Exclusions: Conditions or events not covered under this policy.
  • Claim: A formal request for compensation or coverage based on an insured event.
  • Waiting Period: A predefined period before certain benefits become active.

3. Scope of Coverage

This policy provides financial protection and/or benefits for the following categories, based on the specific plan selected by the Policyholder:

a. Life Insurance Death benefit to the beneficiary Accidental death and dismemberment (if applicable) Funeral or burial assistance

b. Health Insurance Hospitalization (in-patient and out-patient) Emergency medical care Prescription drug coverage Maternity, dental, optical (based on plan)

c. Motor/Auto Insurance
Third-party liability Own damage Theft, fire, and vandalism Personal accident benefits

d. Property Insurance
Damage due to fire, flood, natural disasters, or theft Building and content cover Loss of rent or alternative accommodation

e. Travel Insurance Trip cancellation or interruption Emergency medical care abroad Lost baggage Evacuation or repatriation

f. Business/Commercial Insurance Liability coverage Asset and equipment protection Business interruption

4. Policy Term and Renewal

The policy is valid for a period of your chosen date from the effective date. It may be renewed upon mutual agreement, subject to underwriting and timely payment of premiums.

5. Premiums and Payment Terms

Premiums must be paid as agreed (monthly, quarterly, annually). Failure to pay premiums within the grace period of 48 hours may result in policy lapse. Premiums may vary based on risk assessment and policy terms.

6. Claims Process

To make a claim: Report the event within 48 hours of occurrence. Complete and submit the claim form. Provide all relevant documents (e.g., receipts, reports, ID, certificates). Cooperate with any investigation or verification. Claims will be assessed and processed within 14 business days of complete documentation.

7. Exclusions (General)

This policy shall not cover claims arising from:

Fraudulent or intentional acts

Pre-existing conditions (unless declared and covered)

War, terrorism, or civil unrest

Illegal activities

Wear and tear (for assets)

Unlicensed driving (for motor coverage)

Policy lapse due to non-payment

8. Policy Cancellation

This policy may be canceled by either party: By the Policyholder: With written notice and subject to refund rules. By the Insurer: In cases of fraud, misrepresentation, or non-payment.

9. Dispute Resolution

All disputes shall be resolved in accordance with applicable laws and regulations. Parties may opt for mediation or arbitration before litigation.