Sue DeeF& meer keÀe meerefcele He´erefce³ece Sb[esceWì Hueeve (ueeYe meefnle ³eespevee)

LIC's Limited Premium Endowment Plan (WITH PROFITS)

Yeeie S (peejer)
Yeejleer³e peerJeve yeercee efveiece keÀes (efpemes ³eneb yeeo ceW efveiece keÀne ie³ee nw) ³eneb veer®es meboefYe&le Devegmet®eer ceW GefuueefKele He´mleeJekeÀ Deewj yeerefcele J³eefkeÌle mes He´mleeJe SJebced Iees<eCeeHe$e Deewj He´Lece He´erefce³ece keÀer He´eefHle ngF& nw Deewj GkeÌle
He´mleeJe leLee Iees<eCeeHe$eHej GmeceW efveefnle leLee GefuueefKele JekeÌleJ³eeW meefnle, GkeÌle He´mleeJekeÀ Deewj efveiece kesÀ yeer®e Fme yeerces kesÀ DeeOeej kesÀ ©He ceW menceefle nes ieF& nw, Deleë efveiece Fme Hee@efuemeer Üeje keÀjej keÀjlee nw efkeÀ efnle ueeYe keÀe
Yegieleeve, efkebÀleg y³eepe kesÀ efyevee, efveiece kesÀ Gme MeeKee keÀe³ee&ue³e ceW peneB Fme Hee@efuemeer kesÀ efueS mesJee GHeueyOe keÀjeF& peeleer nw, Gme J³eefkeÌle ³ee Gve J³eefkeÌle³eeW keÀes efpevnW Jen GkeÌle Devegmet®eer keÀer MeleeX kesÀ Devegmeej os³e nes efveiece keÀes Fme
yeele keÀe meblees<epevekeÀ He´ceeCe He´mlegle keÀjves Hej keÀjsiee efkeÀ Hee@efuemeer omleeJes]pe keÀer MeleeX Devegmeej yeercee jeefMe, os³e nes ®egkeÀer nw Deewj Yegieleeve keÀe oeJee keÀjves Jeeuee / Jeeues GmekesÀ nkeÀoej nQ Deewj He´mleeJe ceW GefuueefKele yeerefcele J³eefkeÌle
keÀer Dee³eg mener nw ³eefo Henues mes mJeerke=Àle ve neW.
Deewj Sleod Üeje ³en Ieesef<ele efkeÀ³ee peelee nw efkeÀ Fme yeercee Hee@efuemeer kesÀ efHeíues Yeeie Hej cegefo´le HeefjYee<eeSb, ueeYeeW, mesJee keÀe³eeX kesÀ HenuegDeeW mes mebyebefOele Dev³e efve³ece Deewj MeleeX Deewj JewOeeefvekeÀ He´eJeOeeveeW kesÀ DeOeerve nesieer Deewj
efvecveefueefKele Devegmet®eer Deewj efveiece Üeje Hee@efuemeer Hej efkeÀS ieS nj He=<þebkeÀve keÀes Gme Hee@efuemeer keÀe Yeeie ceevee peeSiee.
Part A (Contd.)
THE LIFE INSURANCE CORPORATION OF INDIA (hereinafter called “the Corporation”) having received a Proposal along with Declaration and the first premium from the
Proposer and the Life Assured named in the Schedule referred to herein below and the said Proposal and Declaration with the statements contained and referred to therein having
been agreed to by the said Proposer and the Corporation as basis of this assurance do by this Policy agree, in consideration of and subject to the due receipt of the subsequent
premiums as set out in the Schedule, to pay the Benefits, but without interest, at the Branch Office of the Corporation where this Policy is serviced to the person or persons to whom
the same is payable in terms of the said Schedule, on proof to the satisfaction of the Corporation of the Benefits having become payable as set out in the Policy Document, of the
title of the said person or persons claiming payment and of the correctness of the age of the Life Assured stated in the Proposal if not previously admitted.
And it is hereby declared that this Policy of Assurance shall be subject to the Definitions, Benefits, Conditions Related To Servicing Aspects, Other Terms And Conditions and
Statutory Provisions printed on the back hereof and that the following Schedule and every endorsement placed on the Policy by the Corporation shall be deemed part of the Policy.

ceb[ue keÀe³ee&ue³e: DIVISIONAL OFFICE: Devegmet®eer SCHEDULE MeeKee keÀe³ee&ue³e: BRANCH OFFICE:

Hee@efuemeer meb.ë cetue yeerefcele jeefMe (`): He´erefce³ece keÀer os³e efleefLeë
Policy No.: Basic Sum Assured (`): Due date of premium:

Hee@efuemeer DeejbYe nesves keÀer efleefLeë He´erefce³ece Yegieleeve keÀer efJeefOe:

Date of Commencement of Policy: Mode of payment of premium:
cetue ³eespevee kesÀ efueS efkeÀMle He´erefce³ece (`):
peesefKece DeejbYe nesves keÀer efleefLeë Instalment Premium for Basic Plan (`): cetue ³eespevee kesÀ efueS Debeflece He´erefce³ece Yegieleeve keÀer os³e:
Date of Commencement of Risk: Due Date of Payment of Last premium for Basic Plan:

³eespevee SJeb Hee@efuemeer DeJeefOeë yeerefcele J³eefkeÌle keÀer pevce efleefLeë

kegÀue efkeÀMle He´erefce³ece (`):
Plan & Policy Term: Date of birth of the Life Assured:
Total Instalment Premium (`):
He´erefce³ece Yegieleeve DeJeefOe: (mece³e-mece³e Hej ueeiet mesJee keÀj yeerefcele J³eefkeÌle keÀer Dee³egë
Premium Paying Term: Age of the Life Assured:
Hej DeefleefjkeÌle MegukeÀ efue³ee peelee nw.)
HeefjHekeÌJelee keÀer efleefLeë (Service tax is charged extra Dee³eg mJeerkeÀej keÀer ieF& nw ³ee veneR?
Date of Maturity: as applicable from time to time) Whether age Admitted?

ke´À. meb. ®egvee ie³ee jeF[j efJekeÀuHe ³etDeeF&Sve jeF[j yeerefcele jeefMe jeF[j kesÀ efueS efkeÀMle He´erefce³ece jeF[j kesÀ efueS Debeflece He´erefce³ece jeF[j meceeefHle keÀer efleefLe
kesÀ Yegieleeve keÀer os³e efleefLe
Sr. No. Rider Opted UIN Rider Sum Assured Instalment Premium Due date of payment of Date of rider termination
for Rider last premium for Rider

efìHHeCeerë Yeeie keÀ (ueeYe) keÀer Mele& ke´À. 3 kesÀ lenled GuuesefKele jeF[me& keÀer MelesX ueeiet neWieer ³eefo GHejesuuesefKele jeF[j kesÀ efueS ®egves ieS nes.
Note: Conditions of the rider(s) mentioned under condition no. 3 of Part C (Benefits) shall only apply if the above mentioned riders have been opted for.

yeercee DeefOeefve³ece, 1938 keÀer Oeeje 39 kesÀ Debleie&le veeefceleer keÀe veece: He´mleeJe ke´À.:
efìHHeCeerë ³eefo DeeHekeÀes keÀesF& efMekeÀe³ele / HejsMeeveer nes lees DeeHe efMekeÀe³ele efvejekeÀjCe DeefOekeÀejer /ueeskeÀHeeue mes mebHeke&À keÀj mekeÀles nQ efpevekeÀe Helee veer®es efo³ee pee jne nw. Name of Nominee under Section 39 of the Insurance Act, 1938: Proposal No.:
NOTE: In case you have any Complaints/Grievance, you may approach Grievance Redressal Officer/ Ombudsman, whose address is as under:
He´mleeJe keÀer efleefLeë
Deiej veeefcele veeyeeefueie nw, efve³egkeÌle J³eefkeÌle keÀe veeceë Date of Proposal:
If Nominee is a minor, name of the Appointee:
MeeKee keÀe³ee&ue³e keÀe Helee / Address of Branch Office ueeYe efJeJejCe meboYe& ke´À.ë
Benefit Illustration Reference No.:

He´mleeJekeÀ keÀe veece Deewj Helee: / Name and address of Proposer: yeerefcele J³eefkeÌle keÀe veece Deewj Helee / Name and address of Life Assured:

efMekeÀe³ele meceeOeeve DeefOekeÀejer keÀe Helee yeercee ueeskeÀHeeue keÀe Helee

Address of Grievance Redressal Officer Address of Insurance Ombudsman ueeYeeLeea efpemes ueeYe os³e nQ He´mleeJekeÀ ³ee yeerefcele J³eefkeÌle ³ee yeercee DeefOeefve³ece, 1938 keÀer Oeeje 38 kesÀ Debleie&le GmekesÀ mecevegosefMeleer keÀes ³ee yeercee keÀevetve DeefOeefve³ece 1938 keÀer Oeeje 39 kesÀ
Debleie&le veeefceleeW ³ee He´ceeefCele efve<HeeokeÀeW ³ee He´MeemekeÀeW ³ee Dev³e JewOeeefvekeÀ He´efleefveefOe³eeW keÀes efpevneWves GmekeÀer mecHeoe ³ee Fme Hee@efuemeer kesÀ Debleie&le os³e jeefMe cee$e kesÀ
efueS Yeejle mebIe kesÀ efkeÀmeer jep³e ³ee mebIe Meeefmele He´osMe kesÀ efkeÀmeer v³ee³eeue³e, pees Yeer ueeiet nes, mes DeHeves He´efleefveefOe nesves keÀe He´ceeCeHe$e He´eHle efkeÀ³ee nesiee.
The proposer or the Life Assured or his Assignee under section 38 of the Insurance Act, 1938 or Nominees under
Section 39 of the Insurance Act, 1938 of proved Executors or Administrators or other Legal Representatives who
should take out representation to his/her Estate or limited to the moneys payable under the policy from any Court of
any State or Territory of the Union of India, as applicable.

He´erefce³ece ®egkeÀeves keÀer DeJeefOe Debeflece He´erefce³ece kesÀ Yegieleeve keÀer efveOee&efjle efleefLe lekeÀ ³ee yeerefcele J³eefkeÌle keÀer ce=l³eg lekeÀ

He´erefce³ece Yegieleeve keÀer efleefLe efveOee&efjle efve³ele leejerKe Hej

efìHHeCeerë Fve efveyebOeveeW leLee MeleeX Deewj efJeMes<e He´eJeOeeveeW /MeleeX keÀer J³eeK³ee kesÀ mebyebOe ceW keÀesF& efJeJeeo nesves Hej Debie´s]peer Yee<³e efJeefOeceev³e nesiee. efveiece keÀer Deesj mes GHe³eg&keÌle MeeKee keÀe³ee&ue³e ceW nmlee#eefjle, efpemekeÀe Helee Debeflece He=<þ Hej efo³ee ie³ee nw Deewj efpeme Heles Hej Fme Hee@efuemeer mes mebyebefOele mecemle He$ee®eej mebyeesefOele efkeÀ³ee peeS.
NOTE: In case of dispute in respect of interpretation of these terms and conditions and special provisions/conditions the English version shall stand valid.

efoveebkeÀ ë / Date :
peeb®e Üejeë / Examined by ë
DeeHemes DevegjesOe nw efkeÀ Fme Hee@efuemeer keÀer peeB®e keÀj ueW Deewj ³eefo keÀesF& ]ieueleer efoKeeF& os lees megOeejves kesÀ efueS Fmes legjble ueewìe oW. HeÀece& ke´À.ë / Form No.: ke=Àles He´cegKe/Jeefj<þ/ MeeKee He´yebOekeÀ / p.Chief/Sr./Branch Manager
YOU ARE REQUESTED TO EXAMINE THIS POLICY, AND IF ANY MISTAKE BE FOUND THEREIN, RETURN IT IMMEDIATELY FOR CORRECTION.
SpeWmeer keÀes[ peeb®ekeÀlee& SpeWmeer keÀe veece SpeWì keÀe ceesyeeF&ue vebyej /ueQ[ueeF&ve vebyej
DeeF&Deej[erSDeeF& HebpeerkeÀjCe mebK³ee : 512
Agency Code Agency Name Agent's Mobile Number/Landline Number
IRDAI Regn No.: 512
Yeeie – yeerë HeefjYee<eeSb
Fme Hee@efuemeer omleeJespe ceW He´³egkeÌle MeyoeJeueer/MeyoeW keÀer HeefjYee<ee Fme He´keÀej nwë
1. Dee³eg Hee@efuemeer Megª nesves kesÀ mece³e yeerefcele J³eefkeÌle keÀer efvekeÀìlece pevceefove keÀer Gce´ 18
Je<e& nesieer efmeJee³e 18 Je<e& keÀer Gce´ kesÀ, peneb 18 Je<e& HetCe& nesves ®eeefnS.
2. efve³egkeÌle J³eefkeÌle Jen nw efpemes Hee@efuemeer kesÀ lenle Dee³e/ueeYe os³e nw. Deye ueeYe veeefcele keÀes os³e nes
peelee nw Deewj oeJee, Yegieleeve keÀer leejerKe Hej veeefcele DeJe³emkeÀ nw.
3. Jeeef<e&keÀ He´erefce³ece Jen He´erefce³ece jeefMe nw efpemes Hee@efuemeer Je<e&ieebþ kesÀ DeJemej Hej Yeje peevee nw.
mecevegosefMele Jen J³eefkeÌle neslee nw efpemekesÀ DeefOekeÀej Deewj ueeYe keÀes mecevegosMeve kesÀ DeeOeej Hej
4.
mLeeveebleefjle efkeÀ³ee peelee nw.
5. mecevegosMeve yeercee DeefOeefve³ece, 1938 kesÀ Deveg®íso 38 kesÀ Debleie&le “meceevegosefMeleer” keÀes
DeefOekeÀej Deewj ueeYeeW keÀes nmleebleefjle keÀjves keÀer SkeÀ He´efke´À³ee nw.
6. cetue ³eespevee Gme Hee@efuemeer keÀe efnmmee nw pees yegefve³eeoer ueeYe keÀer yeeleW keÀjlee nw (Fme Hee@efuemeer
omleeJes]pe ceW ueeYe kesÀ meboYe& ceW jeF[j (DeeW) kesÀ keÀJej ueeYe keÀes íesæ[keÀj, ³eefo ®egvee ie³ee nes)
7. ueeYeeLeea DeLee&le Ssmee J³eefkeÌle pees Fme Hee@efuemeer kesÀ lenle ueeYe He´eHle keÀjves keÀe nkeÀoej nw. ueeYeeLeea
yeerefcele J³eefkeÌle ³ee GmekeÀe mecevegosefMele ³ee veeefcele ³ee He´eceeefCekeÀ He´yebOekeÀ ³ee He´MeemekeÀ ³ee Dev³e
efJeefOekeÀ He´efleefveefOe nes mekeÀlee nw.
8. efveiece DeLee&le SueDeeF&meer DeefOeefve³ece, 1956 keÀer Oeeje 3 kesÀ Debleie&le mLeeefHele Yeejleer³e peerJeve
yeercee efveiece.
9. Hee@efuemeer Megª nesves keÀer leejerKe ner Fme Hee@efuemeer keÀer Meg©Deele keÀer leejerKe nw.
10. peesefKece DeejbYe nesves keÀer leejerKe ³en Jees leejerKe nw efpeme Hej efveiece Henueer He´erefce³ece He´eefHle keÀer
leejerKe mes He´ceeCe kesÀ ªHe ceW yeercee (keÀJej) keÀe peesefKece mJeerkeÀej keÀjlee nw.
11. HeefjHekeÌJelee efleefLe DeLee&le SkeÀ efveefM®ele leejerKe efpeme Hej HetCe& ³ee DeekeÀefmcekeÀ ueeYe os³e nes
mekeÀlee nw.
12. ce=l³eg ueeYe DeLee&le DevegyebOe keÀer mLeeHevee Hej mencele Jen ueeYe, pees ce=l³eg Hej os³e nw pewmes efkeÀ Fme
Hee@efuemeer omleeJes]pe kesÀ Yeeie-meer ceW efJeefveefo&<ì nw
13. ef[m®eepe& HeÀece& Ssmee HeÀece& nw pees Hee@efuemeer kesÀ Debleie&le Hee@efuemeerOeejkeÀ/oeJesoej Üeje
DeY³eHe&Ce/HeefjHekeÌJelee/ ce=l³eg ueeYe keÀe oeJee keÀjves kesÀ efueS Yeje peelee nw.
14. os³e efleefLe Jen le³eMegoe leejerKe nw peneb yekeÀe³ee He´erefce³ece jeefMe os³e nesleer nw.
15. He=<þebkeÀve DeLee&le Fme Hee@efuemeer mes mebueive/pegæ[er HeefjefmLeefle³eeB efpemeceW efveiece kesÀ efueS ³ee efveiece
Üeje nes.
16. DeefleefjkeÌle He´erefce³ece DeLee&le Jen He´Yeej pees efkeÀmeer Yeer peesefKece kesÀ efueS, v³etvelece DevegyebOe He´erefce³ece
kesÀ efueS He´oeve veneR efkeÀ³ee peelee.
17. Debeflece DeefleefjkeÌle yeesveme keÀes ìefce&veue yeesveme Yeer keÀne peelee nw, ³en Hee@efuemeer keÀer meceeefHle Hej
ueeYe kesÀ meeLe-meeLe SkeÀ DeefleefjkeÌle os³e jeefMe nw, ³eefo ueeiet nes.
18. HeefjmeceeHeve Hee@efuemeer yebo keÀjves keÀer Jen He´efke´À³ee nw pees efve³ele leejerKe Hej yekeÀe³ee $eÝCe ³ee $eÝCe kesÀ
y³eepe Hej Yegieleeve ve keÀj Heeves Hej keÀer peeleer nw.
19. evfeMeugkeÀ DeJeueekseÀve DeJeeOfe 15 eofveeW keÀer Jen DeJeeOfe nw pees Heee@ufemeer omleeJep]se Hee´Hle nevses keÀer leejeKre mes
ueeiet nesleer nw peneb Gve efve³ece Deewj MeleeX keÀer meceer#ee keÀer peeleer nw efpememes Hee@efuemeerOeejkeÀ mencele
veneR nesles nQ meeLe ner Hee@efuemeerOeejkeÀ kesÀ Heeme DeHeveer Hee@efuemeer JeeHeme keÀjves keÀe efJekeÀuHe neslee nw.
20. efj³ee³ele DeJeefOe yeerceekeÀlee& Üeje oer ieF& Jen DeJeefOe nw peneb efyevee efkeÀmeer ob[/efJeuebye MegukeÀ kesÀ Yeer
He´erefce³ece keÀe Yegieleeve efkeÀ³ee pee mekeÀlee nw, pees mece³e kesÀ meeLe efyevee efkeÀmeer ªkeÀeJeì kesÀ Hee@efuemeer keÀer
MeleeX kesÀ Devegmeej peesefKece keÀJej kesÀ meeLe He´YeeJeer ceevee peelee nw.
21. ieejbìer[ DeY³eHe&Ce cetu³e Hee@efuemeer kesÀ DeY³eHe&Ce Hej, v³etvelece ieejbìer[ DeY³eHe&Ce os³e jeefMe nw.
22. HetCe&leë He´YeeJe ceW peye meYeer os³e He´erefce³ece keÀe Hee@efuemeer kesÀ lenle Yegieleeve efkeÀ³ee peelee nw.
23. DeeF&Deej[erSDeeF& DeLee&le Yeejleer³e yeercee efve³eecekeÀ SJeb He´eefOekeÀjCe Henues efpemes yeercee efve³eecekeÀ SJeb
efJekeÀeme He´eefOekeÀjCe kesÀ veece mes peevee peelee Lee.
24. keÀeueeleerle efmLeefle nw peye efj³ee³eleer DeJeefOe kesÀ Yeerlej os³e keÀe Yegieleeve ve efkeÀ³ee ie³ee nes.
25. yeerefcele J³eefkeÌle Jen neslee nw efpemekeÀe peerJeve yeercee keÀje³ee ie³ee nes.
26. $eÝCe DeY³eHe&Ce cetu³e kesÀ meceeve Hee@efuemeerOeejkeÀ keÀes efveiece Üeje oer peevesJeeueer Jen jeefMe nw efpeme Hej
y³eepe Yeer ueeiet nw.
27. HeefjHekeÌJelee ueeYe DeLee&le Jen ueeYe pees HeefjHekeÌJe nesves Hej os³e nes ³eeefve efkeÀ Hee@efuemeer DeJeefOe kesÀ Deble
ceW pewmes efkeÀ Hee@efuemeer omleeJes]pe kesÀ Yeeie `meer' kesÀ efJeJejCeevegmeej HeefjHekeÌJe nesves lekeÀ peerefJele jnves Hej
efceuevesJeeuee ueeYe.
28. leeeflJekeÀ peevekeÀejer Jen peevekeÀejer nw efpemekeÀe Helee yeerefcele J³eefkeÌle keÀes Hee@efuemeer uesles mece³e ner
neslee nw, efpemes pecee efkeÀS ieS He´mleeJe/Hee@efuemeer mes mebyebefOele peesefKece kesÀ yeejs ceW Helee neslee nw.
29. DeJe³emkeÀ Jen J³eefkeÌle neslee nw efpemekeÀer Dee³eg 18 Je<e& mes keÀce nw.
30. veeceebkeÀve ``veeefceleer'' J³eefkeÌle keÀes veeceebefbkeÀle keÀjves keÀer He´efke´À³ee nw efpemes He´mleeJe He$e Yejles Je]keÌle
³ee Devegceesove Üeje Meeefceue/HeefjJeefle&le efkeÀ³ee pee peelee nw. veeceebkeÀve, mece³e-mece³e Hej
³eLeemebMeesefIele yeercee DeefOeefve³ece 1938 keÀer Oeeje 39 kesÀ He´eJeOeeveeW kesÀ Devegmeej nesvee ®eeefnS.
31. veeefcele Jen J³eefkeÌle neslee nw efpemes yeerefcele J³eefkeÌle Üeje ueer ieF& Hee@efuemeer kesÀ HeefjHekeÌJe nesves kesÀ HetJe&,
ce=l³eg nesves Hej Hee@efuemeer kesÀ HewmeeW keÀes JewOe lejer]kesÀ mes uesves keÀe DeefOekeÀej neslee nw.
32. He´efleYeeieer DeLee&le Hee@efuemeer keÀer ueeYe ceW He´efleYeeefielee, efveiece kesÀ DevegYeJe kesÀ DeeOeej Hej nesleer nw.
33. He´olle Hee@efuemeer keÀer Jen efmLeefle nw peneb ³eefo, peneb 10 Je<e& mes keÀce DeJeefOeJeeueer Hee@efuemeer kesÀ efueS
keÀce mes keÀce 2 HetCe& Je<eeX kesÀ He´erefce³ece Yejs neW Deewj 10 Je<eesb& mes DeefOekeÀ DeJeefOeJeeueer Hee@efuemeer kesÀ efueS
keÀce mes keÀce 3 HetCe& Je<eeX kesÀ He´erefce³eceeW keÀe Yegieleeve leye efkeÀ³ee nes leLee yeeo kesÀ He´erefce³ece efj³ee³eleer
DeJeefOe kesÀ Yeerlej ve Yejs ieS neW.
34. Hee@efuemeer Je<e&ieebþ DeLee&le Hee@efuemeer Megª nesves kesÀ SkeÀ Je<e& kesÀ yeeo keÀer efleefLe Deewj Hee@efuemeer kesÀ
HeefjHekeÌJe nesveslekeÀ He´efleJe<e& DeevesJeeueer Jen efleefLe.
35. Hee@efuemeer/Hee@efuemeer omleeJes]pe DeLee&le Devegceesove kesÀ meeLe Jen omleeJes]pe, ³eefo keÀesF& nes, pees efveiece
Üeje peejer efkeÀ³ee ie³ee nes pees Hee@efuemeerOeejkeÀ Deewj efveiece kesÀ yeer®e keÀevetveer DevegyebOe keÀer Hegef<ì keÀjs.
36. yeerceeOeejkeÀ ner Fme Hee@efuemeer keÀe JewOe OeejkeÀ neslee nw.
37. Hee@efuemeer DeJeefOe Je<e& ceW Jen mece³e neslee nw peneb Hee@efuemeer He´ejbYe nesves keÀer efleefLe mes efve³ece Deewj
Part B - Definitions
The definitions of terms/words used in this policy document are as under:
1. Age is the age nearest birthday of the Life Assured at the time of the
commencement of the policy except for age 18 years for which the age is in
completed years.
2. Appointee is the person to whom the proceeds/benefits secured under the
Policy are payable if the benefit becomes payable to the nominee and
nominee is minor as on the date of claim payment.
3. Annualized Premium is the amount of premium to be paid as on the policy
anniversary.
4. Assignee is the person to whom the rights and benefits are transferred by
virtue of an Assignment.
5. Assignment is the process of transferring the rights and benefits to an
“Assignee” Assignment should be in accordance with the provisions of section
38 of the Insurance Act, 1938 as amended from time to time.
6. Basic Plan is that part of the Policy referring to basic benefit (benefits
referred to in this policy document excluding benefits covered under
Rider(s), if opted for).
7. Beneficiary means the person who is entitled to receive benefits under this
Policy. The Beneficiary may be proposer or Life Assured or his Assignee or
Nominees or proved Executors or Administrators or other Legal
Representatives as the case may be.
8. Corporation means the Life Insurance Corporation of India established
under Sec.3 of the LIC act, 1956.
9. Date of commencement of policy is the start date of this Policy.
10. Date of commencement of risk is the date on which the Corporation
accepts the risk for insurance (cover) as evidenced by the date of the First
Premium Receipt.
11. Date of Maturity means a fixed date on which benefit may become payable
either absolutely or contingently.
12. Death Benefit means the benefit, agreed at the inception of the contract,
which is payable on death as specified in Part C of this Policy document.
13. Discharge form is the form to be filled by policyholder/claimant to claim the
maturity / surrender / death benefit under the policy.
14. Due Date means a fixed date on which the policy premium is due and
payable.
15. Endorsement means conditions attached / affixed to this Policy
incorporating any amendments or modifications agreed to or issued by the
Corporation.
16. Extra Premium means a charge for any risk not provided for in the minimum
contract premium.
17. Final Additional Bonus, also called as Terminal Bonus, is an additional
amount payable along with the benefits on termination of the policy, if
applicable.
18. Foreclosure is an action of closing the policy due to default in payment of
outstanding loan or loan interest on due date.
19. Free Look Period is the period of 15 days from the date of receipt of the
policy document to review the terms or conditions of this policy and where
the policyholder disagrees to any of those terms and conditions, he/ she
has the option to return this policy.
20. Grace period is the time granted by the insurer from the due date for the
payment of premium, without any penalty/ late fee, during which time the
policy is considered to be inforce with the risk cover without any interruption
as per the terms of the policy.
21. Guaranteed Surrender Value is the minimum guaranteed amount of
Surrender Value payable on surrender of the policy.
22. In full force means all due premiums under the Policy are paid.
23. IRDAI means Insurance Regulatory and Development Authority of India earlier
called Insurance Regulatory and Development Authority (IRDA).
24. Lapse is the status of the Policy when a due premium is not paid within the
grace period.
25. Life Assured is the person on whose life the insurance cover has been
taken.
26. Loan is the interest bearing amount granted by the Corporation against the
surrender value payable to the policyholder.
27. Maturity Benefit means the benefit, which is payable on maturity i.e. at the
end of the policy term as specified in Part C of this Policy Document, on life
assured surviving upto the Date of Maturity.
28. Material information is the information already known to the Life Assured at
the time of obtaining a policy which has a bearing on underwriting of the
proposal /Policy submitted.
29. Minor is a person who has not completed 18 years of age.
30. Nomination is the process of nominating a person who is named as
“Nominee” in the proposal form or subsequently included/ changed by an
endorsement, Nomination should be in accordance with provisions of Section
39 of the Insurance Act, 1938, as amended from time to time.
31. Nominee is the person who has right to give a valid discharge to the policy
monies in case of the death of the Life Assured before maturity of the policy.
32. Participating means the Policy is eligible for share of profit depending upon
the Corporation's experience.
33. Paid - Up is the status of the Policy if the premiums are paid for at least 2 full
years for policies with premium paying term less than 10 years and if the
premiums are paid for at least 3 full years for policies with premium paying
term 10 years or more and subsequent premiums are not paid within the
grace period.
34. Policy Anniversary means one year from the date of commencement of the
Policy and the same date falling one year thereafter, till the date of maturity.
35. Policy/ Policy Document means this document along with endorsements, if
any, issued by the Corporation which is a legal contract between the
Policyholder and the Corporation.
36. Policyholder is the legal owner of this policy.
37. Policy term is the period, in years, from the Date of commencement of policy
Hee@efuemeer kesÀ MeleeX kesÀ Devegmeej DevegyebefOekeÀ ueeYe os³e nw.
38. Hee@efuemeer Je<e& oes efvejblej Hee@efuemeer Je<e&ieebþ kesÀ yeer®e keÀer DeJeefOe nw. Fme DeJeefOe ceW Henuee efove Meeefceue
neslee nw Deewj Deieues Hee@efuemeer Je<e&ieebþ kesÀ efove keÀes Meeefceue veneR efkeÀ³ee peelee nw.
39. He´erefce³ece Jen jeefMe nesleer nw pees efveefM®ele mece³e Hej Hee@efuemeerOeejkeÀ Üeje os³e DevegyebefOekeÀ jeefMe nesleer
nw efpemekeÀe JeCe&ve Hee@efuemeer omleeJes]pe keÀer Devegmet®eer ceW efveefnle ueeYeeW keÀes megjef#ele keÀjves keÀer o=ef<ì mes
efkeÀ³ee ie³ee nw.
40. He´erefce³ece Yegieleeve DeJeefOe Jen DeJeefOe nesleer nw, Je<eeX ceW, efpeme oewjeve He´erefce³ece os³e neslee nw.
41. yeercee peejer jKeves keÀe He´ceeCe Hee@efuemeerOeejkeÀ mes ceebieer ieF& Jen peevekeÀejer nw pees yeercee keÀes Hegveë
peejer jKeves kesÀ efveCe&³e mes mebyebefOele nesleer nw. Fme HeÀece& cesb Gllece mJeemLe, cesef[keÀue efjHeesì&, efJeMes<e
efjHeesì& keÀer efJemle=le Iees<eCee nesleer nw.
42. He´mleeJekeÀ Jen J³eefkeÌle neslee nw pees peerJeve yeercee keÀe He´mleeJe jKelee nw.
43. Hee@efuemeer keÀe Hegve®e&ueve DeLee&le Hee@efuemeer keÀe ®eeuet nesvee pees efkeÀ He´erefce³ece vee Yejves Hej yeerceekeÀlee&
Üeje yebo keÀj oer ieF&, meYeer ueeYeeW kesÀ meeLe ceW (Hee@efuemeer kesÀ efve³ece Deewj MeleeX kesÀ Devegmeej DeeJeM³ekeÀ
MegukeÀ Deewj He´Yeej/efJeuebye MegukeÀ Hej efveYe&j, ³eefo keÀesF& nes) efpemekeÀe GuuesKe Hee@efuemeer omleeJes]pe ceW
efo³ee ie³ee nw. yeercee peejer jKeves kesÀ efueS DeeJeM³ekeÀ nw efkeÀ, Jen meYeer peevekeÀejer pees Hee@efuemeerOeejkeÀ
Üeje ieF& met®evee, omleeJes]pe Deewj efjHeesì& kesÀ meeLe ner yeercee mes mebyebefOele peesefKece keÀer peevekeÀejer
mHe<ì nes.
44. Hegve®e&ueve DeJeefOe Hee@efuemeer yebo keÀjves keÀer leejerKe mes oes efvejblej Je<eeX kesÀ yeer®e keÀer Jen DeJeefOe nesleer nw
peneb Hee@efuemeerOeejkeÀ DeHeveer Gme Hee@efuemeer keÀes Hegveë yeneueer keÀe DeefOekeÀej jKelee nw pees He´erefce³ece ve
Yejves kesÀ keÀejCe yebo keÀj oer ieF& Leer.
45. jeF[j Fme Hee@efuemeer ceW efveefo&<ì cetue ueeYeeW kesÀ DeefleefjkeÌle Dev³e ueeYe nQ.
46. jeF[j He´erefce³ece DeefleefjkeÌle keÀJej/ueeYe Deiej ®egves ieS nQ, kesÀ He´efle os³e nQ Deewj ³en cetue ³eespevee kesÀ
efueS os³e He´erefce³ece kesÀ DeueeJee nw.
47. jeF[j yeerefcele jeefMe Jen megefveefM®ele yeercee jeefMe nesleer nw pees efveefo&<ì Ieìvee kesÀ Iefìle nesves Hej
os³e nw.
48. Devegmet®eer Hee@efuemeer omleeJes]pe keÀe Jen efnmmee neslee nw pees DeeHekeÀer Hee@efuemeer keÀer mebHetCe& peevekeÀejer
oslee nw.
49. meeOeejCe He´l³eeJeleea yeesveme efveiece Üeje Hee@efuemeer³eeW kebsÀ `ueeYe meefnle' Hee@efuemeer Hej
DeefOeMes<e/ueeYe peesæ[s peeles nQ. ³en efveiece kesÀ DevegYeJe kesÀ DeeOeej Hej He´l³eskeÀ efJelleer³e Je<e& kesÀ Deble ceW
He´efle npeej cetue yeerefcele jeefMe Hej Ieesef<ele efkeÀ³ee peelee nw.
50. ce=l³eg Hej yeercee jeefMe Hee@efuemeer DeJeefOe kesÀ oewjeve ce=l³eg nesves Hej efceuevesJeeueer efveefM®ele jeefMe nesleer nw.
51. DeY³eHe&Ce DeLee&le Hee@efuemeer kesÀ HeefjHekeÌJe nesves kesÀ HetJe& ner GmekeÀer JeeHemeer/meceeefHle.
52. DeY³eHe&Ce cetu³e DeLee&le Jen jeefMe, ³eefo keÀesF& nes, efpemekeÀe Yegieleeve efve³ece Deewj MeleeX kesÀ Devegmeej
Hee@efuemeer kesÀ DeY³eHe&Ce Hej os³e neslee nw.
53. leeefuekeÀeyeOo He´erefce³ece cetue yeercee jeefMe kesÀ efueS yeerefcele J³eefkeÌle keÀer Dee³eg kesÀ DeeOeej Hej le³e efkeÀ³ee
peelee nw efkeÀ, pees efkeÀ efyevee efkeÀmeer ítì ³ee DeefleefjkeÌle uees[ kesÀ neslee nw.
54. yeerceebkeÀve keÀe He´³eesie peesefKece kesÀ DeekeÀueve SJeb keÀJej keÀer ueeiele SJeb mebyebefOele J³eefkeÌle Üeje GþeS ieS
peesefKece kesÀ DevegHeele keÀer He´efke´À³ee keÀe JeCe&ve keÀjves kesÀ efueS efkeÀ³ee peelee nw. Deewj Fme keÀJej keÀer
mJeerke=Àefle ³ee DemJeerke=Àefle nesves kesÀ meeLe ner meeLe GHe³egkeÌle He´erefce³ece ³ee mebMeesefOele MeleeX kesÀ ueeiet nesves
Hej yeerceebkeÀve Hej DeeOeeefjle neslee nw.
55. ³etDeeF&Sve DeLee&le DeeF&Deej[erSDeeF& Üeje Fme Hee@efuemeer kesÀ efueS DeeJebefìle efJeefMe<ì Hen®eeve mebK³ee.
56. efveefnle yeesveme Jen He´l³eeJeleea yeesveme nw, ³eefo keÀesF& nes, efpemes Henues ner Ieesef<ele efkeÀ³ee ie³ee nw Deewj
³en Hee@efuemeer kesÀ meeLe ner pegæ[e nw.
57. ueeYe meefnle DeLee&le Jen Hee@efuemeer pees Hee@efuemeer kesÀ efve³ece Je MeleeX kesÀ Devegmeej, Hee@efuemeer DeJeefOe kesÀ
oewjeve ueeYe kesÀ Yeeie kesÀ efueS nkeÀoej nQ.
Yeeie meer - ueeYe
efvecveefueefKele ueeYe Fme Hee@efuemeer kesÀ lenle os³e neWiesë
1. HeefjHekeÌJelee ueeYeë yeerefcele J³eefkeÌle kesÀ peerefJele jnves lekeÀ ³eefo meYeer He´erefce³eceeW keÀe mece³e Hej
Yegieleeve keÀjves Je efveOee&efjle efleefLe lekeÀ Hee@efuemeer kesÀ Gef®ele {bie mes ®eueves Hej HeefjHekeÌJelee Hej yeercee
jeefMe kesÀ meeLe efveefnle meeOeejCe He´l³eJeleea yeesveme Deewj Debeflece DeefleefjkeÌle yeesveme, ³eefo keÀesF& nes os³e
nesiee. peneb HeefjHekeÌJelee Hej yeercee jeefMe cetue yeercee jeefMe kesÀ yejeyej nesieer.
2. ce=l³eg ueeYeë meYeer He´erefce³eceeW keÀe mece³e Hej Yegieleeve keÀjkesÀ Hee@efuemeer Gef®ele {bie mes ®eeuet jKeves Hej
HeefjHekeÌJelee keÀer efveOee&efjle efleefLe mes Henues yeerefcele J³eefkeÌle keÀer ce=l³eg nesves Hej, “ce=l³eg Hej yeercee
jeefMe” jeefMe kesÀ ©He ceW HeefjYeeef<ele ce=l³eg ueeYe, efveefnle meeOeejCe He´l³eJeleea yeesveme Deewj Debeflece
DeefleefjkeÌle yeesveme, ³eefo keÀesF& nes os³e nesiee. pene “ce=l³eg Hej yeercee jeefMe” cetue yeercee jeefMe kesÀ
125% keÀe G®®e ³ee Jeeef<e&keÀ He´erefce³ece keÀe 10 iegvee kesÀ ªHe ceW HeefjYeeef<ele efkeÀ³ee peelee nw.
³en ce=l³eg ueeYe ce=l³eg keÀer efleefLe Hej kesÀ ©He ceW Yegieleeve efkeÀS ieS meYeer He´erefce³eceeW kesÀ 105% mes keÀce
veneR nesiee.
THej meboefYe&le He´erefce³ece mesJee keÀj, DeefleefjkeÌle He´erefce³ece Deewj jeF[j He´erefce³ece (DeeW) keÀes íesæ[keÀj
nw, ³eefo keÀesF& nes.
3. jeF[j ueeYeë
S. SueDeeF&meer keÀer ogIe&ìvee ceW ce=l³eg Deewj DeHebielee ueeYe jeF[j (³etDeeF&Sve
512B209V01)ë Fme Hee@efuemeer kesÀ lenle ogIe&ìvee “ogIe&ìvee, yeenjer, efnbmekeÀ Deewj
He´l³e#e keÀejCeeW mes Ieefìle DeekeÀefmcekeÀ, DeHe´l³eeefMele Deewj Devewef®íkeÀ Ieìvee nw.”
SueDeeF&meer keÀer ogIe&ìvee ceW ce=l³eg Deewj DeHebielee ueeYe jeF[j DeefleefjkeÌle He´erefce³ece keÀe Yegieleeve
keÀjves Hej GHeueyOe nesiee. Hee@efuemeer keÀer ®eeuet efmLeefle kesÀ lenle, He´erefce³ece Yegieleeve DeJeefOe ceW,
ogIe&ìvee ceW ce=l³eg Deewj DeHebielee efnleueeYe jeF[j keÀes ®egvee pee mekeÀlee nw. yeMelex He´erefce³ece
Yegieleeve keÀer DeJeefOe keÀce mes keÀce Heeb®e Je<e& Mes<e nes. peye Fme Hee@efuemeer kesÀ Debleie&le jeF[j keÀe
efJekeÀuHe ®egvee ie³ee nw, Fme jeF[j mes pegæ[s meYeer ueeYe Hee@efuemeer DeJeefOe kesÀ oewjeve ³ee Gme
Hee@efuemeer Je<e&ieebþ lekeÀ peye yeerefcele J³eefkeÌle keÀer pevceefoJeme keÀer ve]peoerkeÀ keÀer Gce´ 70 ³ee Gme mes
keÀce nw, Jen Hee@efuemeer mes pegæ[s jnWies, yeMelex ogIe&ìvee kesÀ efove Hee@efuemeer HetCe& ªHe mes He´YeeJeer nes.
Fme Hee@efuemeer kesÀ lenle meYeer He´erefce³eceeW keÀe Yegieleeve keÀjves Hej ³ee Hee@efuemeer Je<e&ieebþ Hej ³ee
GmekesÀ yeeo efpeme Hej yeerefcele J³eefkeÌle kesÀ pevceefove keÀer Dee³eg 70 Je<e& nw, FveceW mes pees Yeer
HetJe& nes, Fme jeF[j kesÀ efueS DeefleefjkeÌle He´erefce³ece keÀe Yegieleeve keÀjves keÀer ]peªjle
veneR. neueebefkeÀ, cetue ³eespevee kesÀ lenle He´erefce³ece efpemekesÀ meeLe ³en jeF[j pegæ[e ngDee nw
efpemeceW 70 Je<e& keÀer Gce´ kesÀ yeeo Yeer He´erefce³ece keÀe Yegieleeve DeJeefOe kesÀ Deble lekeÀ peejer jnsiee,
peneb ueeiet nes.
Yeejleer³e peerJeve yeercee efveiece mes ueer ieF& meYeer Hee@efueefme³eeW - efpeveceW ogIe&ìvee efnleueeYe
Debleefveefn&le nes leLee mecetn yeercee Hee@efueefme³eeb Yeer Meeefceue nQ - kesÀ Debleie&le ogIe&ìvee
efnleueeYe keÀer DeefOekeÀlece kegÀue meercee efkeÀmeer Yeer efmLeefle ceW ©. 100 ueeKe mes DeefOekeÀ venerb
nesieer. ³eefo FmeceW SkeÀ mes ]p³eeoe Hee@efueefme³eeb neW Deewj ³eefo kegÀue ogIe&ìvee ueeYe ©. 100 ueeKe
mes ]p³eeoe nes lees ueeYe peejer keÀer ieF& Hee@efueefme³eeW keÀer efleefLe kesÀ Devegmeej He´Lece ©. 100 ueeKe
keÀer yeercee jeefMe Hej ®eeuet neWies.
during which the contractual benefits are payable as per the terms and
conditions of the policy.
38. Policy year is the period between two consecutive policy anniversaries. This
period includes the first day and excludes the next policy anniversary day.
39. Premium is the contractual amount payable by the Policyholder at specified
times periodically as mentioned in the schedule of this Policy Document to
secure the benefits under the policy.
40. Premium paying term means the period, in years, during which premiums
are payable.
41. Proof of continued insurability is the information sought from the
policyholder to decide revival of the policy. This includes Form of declaration
of Good Health, Medical Reports, Special Reports, etc.
42. Proposer is a person who proposes the life insurance proposal.
43. Revival of a policy means restoration of the policy, which was discontinued
due to the non-payment of premium, by the insurer with all the benefit
mentioned in this policy document, upon the receipt of all the premiums due
and other charges/late fee, if any, as per the terms and conditions of the
policy, upon being satisfied as to the continued insurability of the insured on
the basis of the information, documents and reports furnished by the
policyholder, in accordance with the then existing underwriting guidelines.
44. Revival Period is the period of two consecutive years from the date of
discontinuance of the policy, during which period the policyholder is entitled
to revive the policy which was discontinued due to the non-payment of
premium.
45. Rider is an add-on benefit in addition to basic benefits as specified under
this Policy.
46. Rider Premium is the premium payable along with the premium under Basic
Plan towards the additional cover/benefit opted under the rider, if opted.
47. Rider Sum Assured is the assured amount payable on happening of a
specified event covered under the rider, if opted.
48. Schedule is the part of policy document that gives the details of your policy.
49. Simple Reversionary Bonus is the surplus/profit added by the Corporation
to 'with-profits' policies. It is declared per thousand Basic Sum Assured at the
end of each financial year based on the Corporation's experience.
50. Sum Assured on Death is the assured amount payable on death during the
policy term.
51. Surrender means complete withdrawal / termination of the entire policy
before maturity.
52. Surrender Value means an amount, if any, that becomes payable in case of
surrender in accordance with the terms and condition of this policy.
53. Tabular premium is the premium for the chosen Basic Sum Assured based
on the age of the Life Assured without application of any rebate or extra
loading.
54. Underwriting is the term used to describe the process of assessing risk and
ensuring that the cost of the cover is proportionate to the risks faced by the
individual concerned. Based on underwriting, a decision on acceptance or
rejection of cover as well as applicability of suitable premium or modified
terms, if any, is taken.
55. UIN means the Unique Identification Number allotted to this plan by the
IRDAI.
56. Vested Bonus is the reversionary bonus, if any, which has already been
declared and remains attached to the policy.
57. With Profits policies means policies which are entitled for any share in
surplus (profits) emerging during the term of the policy in accordance with
the terms and conditions of the policy.
Part C - Benefits
The following benefits are payable under this policy:
1. Maturity Benefit: On Life Assured surviving the stipulated Date of Maturity
provided the policy is in full force by paying upto-date premiums, Sum
Assured on Maturity along with vested Simple Reversionary Bonuses and
Final Additional Bonus, if any, shall be payable. Where Sum Assured on
Maturity is equal to Basic Sum Assured.
2. Death Benefit: On death of the Life Assured before the stipulated Date of
Maturity provided the policy is in full force by paying upto-date premiums,
Death Benefit, defined as sum of “Sum Assured on Death”, vested Simple
Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.
Where, “Sum Assured on Death” is defined as higher of 125% of Basic Sum
Assured or 10 times of annualised premium.
This Death Benefit shall not be less than 105% of all the premiums paid as on
date of death.
Premiums referred above exclude service tax, extra premium and rider
premium(s), if any.
3. Rider Benefits:
A. LIC's Accidental Death and Disability Benefit Rider (UIN:
512B209V01): An 'Accident' for the purpose of this policy is defined as
“An Accident is a sudden, unforeseen and involuntary event caused
by external, violent and visible means.”
LIC's Accidental Death and Disability Benefit Rider is available on
payment of additional premium. Under an inforce policy the Accidental
Death and Disability Benefit Rider can be opted for at any time within the
Premium Paying Term of the Basic Plan provided the outstanding
Premium Paying Term of the Basic Plan is atleast 5 years. Wherever this
rider has been opted for under the policy, the benefits covered under this
Rider will be available during the policy term or before the policy
anniversary on which the age nearer birthday of the Life Assured is 70
years, whichever is earlier, provided the Policy is in force for the full Sum
Assured as on date of accident.
The additional premium for this Rider will not be required to be paid after
all premiums under this Policy have been paid or on and after the policy
anniversary on which the age nearer birthday of the Life Assured is 70
years, whichever is earlier. However, the premium under the Basic Plan
with which this rider is attached shall continue to be paid beyond age 70
years till the end of Premium Paying Term, wherever applicable.
The maximum aggregate limit of assurance under all policies including
policies with in-built Accident Benefit taken with Life Insurance
Corporation of India under individual policies as well as group policies on
the same life to which following benefits apply shall not in any event
exceed Rs.100 lakhs of Accident Benefit Sum Assured. If there be more
policies than one and if the total Accident Benefit Sum Assured exceeds
Rs.100 lakhs, the benefits shall apply to the first Rs.100 lakhs Accident
Benefit Sum Assured in order of date of policies issued.
peye ³en Hee@efuemeer yeercee jeefMe kesÀ efueS HetCe& He´YeeJeer nw Deewj Gme mece³e yeerefcele ogIe&ìveeie´mle nes
peelee nw leLee ogIe&ìvee ceW ®eesì ueieves mes 180 efove kesÀ Deboj ³en meeefyele nes peelee nw efkeÀ ®eesì
Hetjer lejn, meerOes Deewj mJeleb$e ªHe mes ogIe&ìvee keÀer Jepen mes nw efpeme mes (De) mLee³eer ³ee HetCe& ªHe
mes DeHebieleeJeeueer efmLeefle Dee peeleer nw, pewmee efkeÀ JeefCe&le nw ³ee (ye) yeerefcele keÀer ce=l³eg nes peeleer nw,
pees efkeÀ efveiece keÀer meblegef<ì kesÀ efueS meeefyele nes peelee nw, leye
(De) yeerefcele keÀer DeHebbielee ë (i) DeefleefjkeÌle jeefMe pees efkeÀ ogIe&ìvee efnleueeYe jeefMe kesÀ
yejeyej nw, keÀe meceeve ceeefmekeÀ efkeÀMleeW ceW ome meeue lekeÀ Yegieleeve. ome Je<e& keÀer DeJeefOe
HetCe& nesves mes Henues Deiej Hee@efuemeer ce=l³eg oeJee ³ee HeefjHekeÌJelee kesÀ efueS ³eesi³e nes peeleer nw lees
DeHebielee efnleueeYe keÀer Mes<e os³e efkeÀMleeW keÀe Yegieleeve THej efueefKele oeJes kesÀ meeLe os³e
nesiee. (ii) YeefJe<³e ceW ogIe&ìvee efnleueeYe yeercee jeefMe mes pegæ[s SJeb cetue yeercee jeefMe mes pegæ[s
os³e He´erefce³ece , ³eefo neW lees cee]HeÀ nes pee³eWies. efkeÀmeer Yeer Dev³e jeF[j mes pegæ[s He´erefce³ece,
Deiej ®egves ieS nQ, keÀe Yegieleeve peejer jnsiee.
He´erefce³ece keÀer cee]HeÀer mes Fme Hee@efuemeer kesÀ lenle meYeer efJekeÀuHe SJeb efve³ece 3. De (ye) kesÀ
lenle meYeer keÀJej efkeÀS efnle meceeHle nes pee³eWies efmeJee³e Ssmes yeercee keÀJej , Deiej nQ pees
yeerefcele J³eefkeÌle keÀer ceewpetoe meYeer Hee@efueefme³eeW kesÀ Debleie&le kegÀue ogIe&ìvee ueeYe jkeÀce mes
DeefOekeÀ jeefMe kesÀ ueeYe keÀes He´erefce³ece kesÀ efvejblej Yegieleeve Üeje He´YeeJeer jKee pee mekeÀlee nw.
THej meboefYe&le DeHebbielee mener cee³eveeW ceW DeHebbielee nesveer ®eeefnS pees SkeÀ 'ogIe&ìvee'
keÀe veleerpee nw Deewj Hetjer lejn mes mLee³eer DeHebielee ner nesveer ®eeefnS. ogIe&ìvee ceW ®eesìW pees
Dev³e meYeer keÀejCeeW mes Deueie nQ Deewj Fme lejn keÀe neomee nesves kesÀ 180 efoveeW kesÀ Yeerlej
HeefjCeece mJeªHe Ssmeer DeHebbielee Dee peeleer nw efpememes yeerefcele J³eefkeÌle mLee³eer ªHe mes
efkeÀmeer Yeer yeenjer ceoo/DeeOeej kesÀ efyevee meeLener ³eebef$ekeÀ GHekeÀjCeeW keÀe GHe³eesie, efJeMes<e
GHekeÀjCe ³ee mene³elee kesÀ efyevee owefvekeÀ peerJeve keÀer (veer®es JeefCe&le) efvecveefueefKele
efke´À³eeDeeW ceW mes keÀce mes keÀce 4 efke´À³eeSb keÀjves ceW DemeHeÀue nes peelee nw, lees Ssmeer DeHebbielee
keÀes mebHetCe& Deewj mLee³eer ªHe ceW ceevee peeSiee. efveiece Üeje DeefOeke=Àle ef®eefkeÀlmee Hejer#ekeÀ
mebHetCe& Deewj mLee³eer ©He mes DeHebbielee He´ceeefCele keÀjves kesÀ efueS yeerefcele J³eefkeÌle keÀer peeb®e
keÀjWies.
owefvekeÀ peerJeve keÀer efke´À³eeSbë
• HeefjOeeve - meYeer DeeJeM³ekeÀ keÀHeæ[s, ke=Àef$ece Debie ³ee Meu³e ef®eefkeÀlmee GHekeÀjCe pees
ef®eefkeÀlmekeÀer³e DeeJeM³ekeÀ nw GvekeÀes Henveves ³ee efvekeÀeueves keÀer #ecelee.
• OeggueeF&ë meHeÀeF& Deewj J³eefkeÌleiele mJe®ílee keÀe He³ee&Hle mlej yeveeS jKeves kesÀ efueS
Oeesves keÀer #ecelee.
• Yeespeveë SkeÀ yeej Yeespeve lew³eej Deewj GHeueyOe keÀjves Hej Yeespeve Leeueer ³ee keÀìesjer
mes cegbn lekeÀ ues peeves keÀer #ecelee.
• He´meeOeveë J³eefkeÌleiele mJe®ílee keÀe SkeÀ meblees<epevekeÀ mlej yeveeS jKeves kesÀ efueS
Meew®eeue³e keÀe GHe³eesie keÀjves keÀer ³ee Dev³eLee Deeb$e ³ee ceg$eeMe³e kesÀ keÀe³eeX keÀe
He´yebOeve keÀjves keÀer #ecelee.
• ieefleMeerueleeë efveJeeme kesÀ meeceev³e mLeeveeW Hej mlej meleneW Hej Iej kesÀ Deboj SkeÀ
keÀcejs mes otmejs keÀcejs ceW peeves keÀer #ecelee.
• mLeeveeblejCeë SkeÀ efyemlej mes kegÀmeea lekeÀ ³ee Heefn³ee kegÀmeea lekeÀ ³ee efJeHejerle ke´Àce mes
mLeeveebleefjle nesves keÀer #ecelee.
GHejeskeÌle keÀLeve kesÀ yeeJepeto, ³eefo DeekeÀefmcekeÀ ®eesìW pees mJeleb$e ªHe mes Dev³e meYeer
keÀejCeeW mes Deueie nw. Deewj Fme lejn kesÀ neomes Ieìves kesÀ 180 efoveeW kesÀ Yeerlej efpeme mes
oesveeW DeebKeeW keÀer Hetjer ¢ef<ì keÀer ncesMee kesÀ efueS neefve nes peeleer nw ³ee oesveeW neLe keÀueeF& ³ee
keÀueeF& kesÀ Thej mes keÀì peeves Hej ³ee oesveeW Hewj ìKeveeW mes ³ee ìKeveeW kesÀ THej mes keÀì
peeves Hej ³ee SkeÀ neLe keÀueeF& ³ee keÀueeF& kesÀ THej mes keÀì peeves Hej ³ee SkeÀ Hewj ìKevee
mes ³ee ìKeves kesÀ THej mes keÀì peeves keÀer DeJemLee keÀes Yeer, DeHebbielee mecePee peeSiee.
DeHebbielee kesÀ Ieefìle nesves kesÀ yeeo, GmekeÀe HetCe& efJeJejCe efueefKele ªHe mes yeerefcele J³eefkeÌle
kesÀ lelkeÀeueerve Helee-efþkeÀevee kesÀ meeLe, efveiece kesÀ Gme keÀe³ee&ue³e ceW osvee ®eeefnS peneb
Hee@efuemeer mesefJele nw Deewj DeHebielee kesÀ Ieìves kesÀ 90 efove kesÀ Yeerlej, DeHebielee kesÀ
meblees<epevekeÀ He´ceeCe, efveiece keÀes efpeme ªHe ceW ®eeefnS, efveiece kesÀ Gme keÀe³ee&ue³e ceW pecee
keÀjevee nesiee peneb Hee@efuemeer mesefJele nw Deewj efpeme Hej efveiece keÀes keÀesF& J³e³e ve keÀjvee Heæ[s.
³eefo peeb®e kesÀ oewjeve Fme yeele keÀer Hegef<ì nes peeleer nw efkeÀ, oeJee ieuele mJeerkeÀeje ie³ee nw,
lees efveiece Üeje ceeceues keÀes meb%eeve ceW uesves kesÀ yeeo mes cee]HeÀ efkeÀS ieS He´erefce³ece keÀes Deceev³e
keÀj efo³ee peeSiee, meeLe ner meYeer Deoe keÀer ieF& DeefleefjkeÌle jeefMe³eeW keÀes efveiece Üeje le³e
keÀer ngF& y³eepe ojeW kesÀ meeLe efveiece keÀes SkeÀcegMle JeeefHeme keÀjvee nesiee efpemes DeHebielee
kesÀ oeJeeW keÀe DeeOeej yeleekeÀj efveiece mes efue³ee ie³ee Lee. Ssmee vee keÀjves Hej,
(i) Hee@efuemeer kesÀ lenled GHeueyOe ueeYe Gme no lekeÀ keÀce nes peeSbies pewmes efkeÀ He´erefce³ece
cee]HeÀ nesves keÀer leejerKe mes Hee@efuemeer yebo ngF& nes ³ee DeefleefjkeÌle yeercee jeefMe keÀer Henueer
efkeÀMle kesÀ Yegieleeve keÀer leejerKe pees Yeer Henueer nes.
(ii) Yegieleeve efkeÀS ieS DeefleefjkeÌle yeercee jeefMe keÀer efkeÀMleeW keÀes GHe³eg&keÌle Hee@efuemeer Hej
SkeÀ $eÝCe kesÀ ªHe ceW ceevee peeSiee Deewj Hee@efuemeer kesÀ ueeYeeW keÀer He´eefHle mes mece³e
mece³e Hej efveiece Üeje le³e efkeÀ ngF& ojeW Hej y³eepe kesÀ meeLe keÀeìe peeSiee.
Deewj Ssmee ceeveles ngS efkeÀ keÀesF& ogIe&ìvee Ieefìle veneR ngF& nw Deeies keÀer DeefleefjkeÌle ogIe&ìvee
ueeYe yeercee jeefMe kesÀ efkeÀMleeW keÀe Yegieleeve os³e vener nesiee.
(ye) yeerefcele J³eefkeÌle keÀer ce=l³egë Fme Hee@efuemeer kesÀ lenle cetue yeercee jeefMe kesÀ DeueeJee, ogIe&ìvee
ueeYe yeercee jeefMe kesÀ yejeyej DeefleefjkeÌle jeefMe os³e nesieer. neueebefkeÀ, Hee@efuemeer HetCe& ªHe mes
He´YeeJeer nesveer ®eeefnS ®eens Jen ce=l³eg kesÀ mece³e He´YeeJeer nes ³ee vee nes.
efveiece, GÀHej (De) ³ee (ye) ceW meboefYe&le DeefleefjkeÌle jeefMe keÀe Yegieleeve keÀjves kesÀ efueS GÊejoe³eer
veneR nesiee. yeerefcele J³eefkeÌle keÀer ce=l³eg ³ee DeHebbielee ³eefoë
(i) peeveyetPe keÀj Kego keÀes ®eesì Hengb®eevee, Deelcenʳee keÀe He´³eeme keÀjves, HeeieueHeve
³ee DeveweflekeÀ Dee®ejCe kesÀ keÀejCe DeLeJee efkeÀmeer ceeokeÀ êJe HeoeLe&, Deew<eefOe ³ee
veMeerueer JemlegDeeW keÀe mesJeve keÀjves mes nesieer DeLeJee (ef®eefkeÀlmekeÀ Üeje Fueepe kesÀ
ªHe ceW yeleeS ieS ve neW)
(ii) obieeW, DemewefvekeÀ GHeêJe, meMeðe efJeêesn, ³eg× (Yeues ner ³eg× keÀer Iees<eCee keÀer ieF& nes
³ee ve nes), Deeke´ÀceCe, efMekeÀej, HeJe&leejesnCe, uebyeer íueebie ³ee efkeÀmeer Yeer He´keÀej keÀer
oewæ[, He@jeiueeFef[bie ³ee HewjeMetìeRie] jesceeb®ekeÀ KesueeW ceW Yeeie uesves kesÀ HeÀuemJeªHe
®eesì ueieves kesÀ keÀejCe nesieer DeLeJee
(iii) yeerefcele J³eefkeÌle Üeje DeHejeOe keÀer YeeJevee mes efkeÀS ieS efkeÀmeer Yeer DeHejeefOekeÀ
ieefleefJeefOe³eeW keÀe HeefjCeece, ³ee
(iv) (De) meMeðe yeue ³ee mewv³e mesJee ceW yeerefcele J³eefkeÌle kesÀ veewkeÀjer keÀjves keÀer Jepen mes,
³en DeHeJeeo ueeiet veneR neslee nw peye yeerefcele J³eefkeÌle [îetìer Hej ve nesles ngS Yeer
ogIe&ìvee keÀe efMekeÀej nes peelee nw ³ee nceejs osMe ceW He´eke=ÀeflekeÀ DeeHeoeDeeW mes
If the Life assured is involved in an accident at any time when this Policy is
in force for the full Sum Assured, and such injury shall within 180 days of
its occurrence solely, directly and independently of all other causes
result in (a) either permanent and total disability, as hereinafter defined or
(b) death of the Life assured and the same is proved to the satisfaction of
the Corporation, the Corporation agrees in case of:
(a). Disability to the Life Assured: (i) pay additional sum equal to the
Accident Benefit Sum Assured in equal monthly instalments spread
over 10 years under this Policy. If the policy becomes a claim by the
way of death or maturity before the expiry of the said period of 10
years, the disability benefit instalments which have not fallen due will
be paid along with the claim and (ii) waive the payment of future
premiums chargeable, if any, under the policy (including the
premium under Basic Plan) to the extent of Accident Benefit Sum
Assured. The premium for any other Rider, if opted for, shall continue
to be paid.
The waiver of premium shall extinguish all options under this policy
and the benefits covered by 3.A.(b) of this clause except as to such
assurances, if any, as exceeds the total accident benefit sum
assured under all the existing policies of the life assured and which
may have been kept in force by continued payment of premiums.
The disability above referred to must be disability which is the result
of an 'Accident' and must be total and permanent. Accidental
injuries which independently of all other causes and within 180 days
from the happening of such accident result in such disability due to
which life assured is unable to perform at least 4 (four) of the
following Activities of Daily Living (defined below) permanently
without any external help/support including the use of mechanical
equipment, special devices or other aids, then such disability shall
be treated as Total and Permanent. Medical Examiner authorized by
the Corporation shall examine the life assured to certify the disability
as Total and Permanent.
The Activities of Daily Living are:
• Dressing - the ability to put on and take off all necessary
garments, artificial limbs or other surgical appliances that are
medically necessary
• Washing - the ability to wash to maintain an adequate level of
cleanliness and personal hygiene
• Feeding - the ability to transfer food from a plate or bowl to the
mouth once food has been prepared and made available
• Toileting - the ability to use the lavatory or otherwise manage
bowel and bladder functions so as to maintain a satisfactory
level of personal hygiene
• Mobility - the ability to move indoors from room to room on
level surfaces at the normal place of residence
• Transferring - the ability to move from a bed to an upright chair
or wheel chair and vice versa
Notwithstanding what is mentioned above, Accidental injuries which
independently of all other causes and within 180 days from the
happening of such accident, result in the irrecoverable loss of the
entire sight of both eyes or in the amputation of both hands at or
above the wrists or in the amputation of both feet at or above ankles,
or in the amputation of one hand at or above the wrist and one foot at
or above the ankle, shall also be deemed to constitute such
disability.
After the happening of the disability, full particulars thereof must be
given in writing to the office of the Corporation where this Policy is
serviced together with the then address and whereabouts of the Life
Assured and within 90 days of the happening of the disability, must
be given to the servicing Office of the Corporation, in the manner
required by it, proof of disability satisfactory to the Corporation and
without any expense to the Corporation. Medical Examiner
authorized by the Corporation shall examine the Life Assured and
certify in respect of any disability claimed after the intimation.
Further, medical examination may be done to validate the continuity
of disability on case to case basis, if required.
In the event of it being discovered at any time that a claim under this
clause has been wrongly admitted, all premiums falling due after the
date of the Corporation's intimation to that effect shall be paid on due
dates and further all premiums for which waiver was wrongly
claimed and all instalments of additional sum assured which have
been paid to the life assured shall be returned to the Corporation in
one lump sum with interest, at such rate as fixed by the Corporation
from time to time as if no disability had occurred, failing which
(i) the benefits available under the policy shall stand reduced as if
the policy has been discontinued as on the date from which
premiums have been waived or on the payment of the first
instalment of the additional sum assured, whichever is earlier and
(ii) the instalments of additional sum assured already paid shall be
treated as a debt against the said policy and shall be deducted
with interest at such rate as fixed by the Corporation from time to
time from the proceeds of the policy.
No further instalment/s of additional Accident Benefit Sum Assured
shall be payable considering as if no disability had occurred.
(b). Death of the Life Assured: In addition to Basic Sum Assured, an
additional sum equal to the Accident Benefit Sum Assured shall be
payable under this policy. However, the policy shall have to be in
force at the time of accident irrespective of whether or not it is in force
at the time of death.
The Corporation shall not be liable to pay the additional sum referred in
(a) or (b) above, if the disability or the death of the Life Assured shall:
(i) be caused by intentional self injury, attempted suicide, insanity or
immorality or whilst the Life Assured is under the influence or
consumption of intoxicating liquor, narcotic or drug (unless
prescribed by doctor as a part of treatment); or
(ii) be caused by injuries resulting from taking any part in riots, civil
commotion, rebellion, war (whether war be declared or not),
invasion, hunting, mountaineering, steeple chasing, racing of
any kind, paragliding or parachuting, taking part in adventurous
sports; or
(iii)result from the Life Assured committing any criminal act with
criminal intent; or
(iv) (a) arise from employment of the Life Assured in the armed
forces or military service. This exclusion is not applicable if
the Life Assured was involved in an accident when he is not
on duty or was involved in any rescue operations while
ye®eeJe keÀjles ngS ³ee combating natural calamities in our country; or
(ye) De×&mewefvekeÀ yeueeW kesÀ DeueeJee Dev³e efkeÀmeer Yeer Hegefueme mebieþve ceW Hegefueme (b) arise from being engaged in police duty (which excludes
administrative assignments) in any police organization other
[îetìer ceW ueies nesves kesÀ keÀejCe nesvesJeeueer Dee³e (pees He´MeemeefvekeÀ keÀe³e& ceW than paramilitary forces. This exclusion is not applicable
Meeefceue veneR) Hej ³en ítì ueeiet veneR nesieer, peye Hegefueme [îetìer Hej ueies ngS where the option to cover Accidental Death and Disability
nQ, Deewj leye ogIe&ìvee nesleer nw lees, ogIe&ìvee ceW ce=l³eg Deewj DeHebbielee ueeYe Benefit arising on accident while engaged in police duty, has
keÀJej Heeves kesÀ efueS efJekeÀuHe neslee nw ³ee been chosen; or
(v) yeerefcele J³eefkeÌle keÀer ogIe&ìvee keÀer leejerKe mes 180 efoveeW kesÀ yeeo DeefmlelJe ceW Deevee. (v) occur after 180 days from the date of accident of the Life
Assured.
cetue ³eespevee kesÀ DeY³eHe&Ce Hej os³e ueeYeë ³en jeF[j efkeÀmeer Yeer He´olle cetu³e keÀe DeefOeie´nCe veneR keÀjsiee Benefits payable on surrender of Basic Plan: This rider shall not
Deewj Fme jeF[j kesÀ lenle keÀesF& Yeer DeY³eHe&Ce cetu³e GHeueyOe veneR nesiee. neueebefkeÀ, Deiej Fme jeF[j keÀe acquire any Paid-up Value and no surrender value will be available under
efJekeÀuHe cetue ³eespevee kesÀ DeY³eHe&Ce mes ³en jeF[j pegæ[e nw Deewj GmekesÀ efueS ®egvee ie³ee nw Deewj Fme jeF[j this rider. However, if this rider has been opted for and on surrender of the
Deewj cetue ³eespevee kesÀ mebyebOe ceW meYeer He´erefce³eceeW keÀe Yegieleeve keÀj efo³ee ie³ee nw lees He´erefce³ece Yegieleeve DeJeefOe Basic Plan to which this rider is attached, provided all the due premiums
kesÀ meboYe& ceW yeeo ceW ueer ieF& jeF[j He´erefce³ece jeefMe efvecve He´keÀej mes JeeHeme keÀer peeSieerë in respect of this rider and Basic Plan have been paid and the Basic Plan
has acquired surrender value, additional rider premium charged in
He´erefce³ece Yegieleeve DeJeefOe kesÀ oewjeve DeY³eHe&Ce keÀjves Hejë 80%*(Jeeef<e&keÀ jeF[j He´erefce³ece respect of cover after premium paying term shall be refunded as follows:
He´efle1000 ©. ogIe&ìvee ueeYe yeercee jeefMe-1)* (ogIe&ìvee ueeYe yeercee jeefMe/1000) * (Je<eeX keÀer mebK³ee In case of Surrender during Premium Paying Term: 80% * (annualised
efpemekesÀ efueS Fme jeF[j kesÀ mebyebOe ceW He´erefce³ece keÀe Yegieleeve keÀj efo³ee ie³ee nw) rider premium per Rs. 1000 Accident Benefit Sum Assured – 1) *
(Accident Benefit Sum Assured/1000) * (Number of years for which
He´erefce³ece Yegieleeve DeJeefOe kesÀ yeeo DeY³eHe&Ce keÀjves Hejë 80%*(Jeeef<e&keÀ jeF[j He´erefce³ece He´efle 1000 premiums in respect of this rider have been paid)
©. ogIe&ìvee ueeYe yeercee jeefMe-1)* (ogIe&ìvee ueeYe yeercee jeefMe/1000) * (jeF[j keÀer He´erefce³ece Yegieleeve In case of Surrender after Premium Paying Term: 80% * (annualised
DeJeefOe) * (Hetjs efkeÀS Je<e& ceW jeF[j keÀer yekeÀe³ee DeJeefOe/Fme jeF[j kesÀ meboYe& ceW Hee@efuemeer DeJeefOe-jeF[j rider premium per Rs. 1000 Accident Benefit Sum Assured – 1) *
keÀer He´erefce³ece Yegieleeve DeJeefOe) (Accident Benefit Sum Assured/1000) * (premium paying term of the
peneb, THej efoS ieS Jeeef<e&keÀ jeF[j He´erefce³ece ceW keÀj keÀe meceeJesMe veneR efkeÀ³ee ie³ee nw. rider) * (outstanding term for the rider in completed years / (Policy term in
respect of this rider - Premium paying term of the rider))
yeer. SueDeeF&meer keÀer veF& DeJeefOe yeercee jeF[j(UIN 512B210V01):- Where annualised rider premium mentioned above excludes tax.
B. LIC's New Term Assurance Rider (UIN 512B210V01): -
SueDeeF&meer keÀer veF& DeJeefOe yeercee jeF[j, Hee@efuemeer kesÀ DeefleefjkeÌle He´erefce³ece kesÀ Yegieleeve Hej GHeueyOe LIC's New Term Assurance Rider is available at the inception of the policy
nw. Fme jeF[j kesÀ efueS DeefleefjkeÌle He´erefce³ece keÀe Yegieleeve, cetue ³eespevee ³ee efkeÀmeer Dev³e jeF[j, ³eefo on payment of additional premium. The additional premium for this Rider
®egvee ie³ee nes, kesÀ He´erefce³ece kesÀ Yegieleeve kesÀ mece³e ner keÀjvee neslee nw. ³eefo ³en jeF[j ®egvee ie³ee nw lees, will need to be paid along with the premium of the Basic Plan and any
Hee@efuemeer DeJeefOe kesÀ oewjeve yeerefcele J³eefkeÌle keÀer ce=l³eg nesves Hej DeefleefjkeÌle jeefMe jeF[j Hej yeerefcele other rider, if opted for, during the premium paying term of the policy. If
jeefMe keÀer DeJeefOe kesÀ yejeyej nesieer. Deewj ³en jeF[j keÀJej kesÀ He´YeeJeer {bie mes ®eueves Hej os³e nesieer. this rider is opted for, on death of the Life Assured during the policy term
an additional amount equal to Term Rider Sum Assured shall be payable
Yeejleer³e peerJeve yeercee efveiece kesÀ efJe®eejeOeerve He´mleeJe kesÀ efveefcelle mes meYeer jeF[j Üeje ueer ieF& provided the rider cover is inforce.
ceewpetoe Hee@efuemeer³eeW Hej DeJeefOe yeercee jeF[j Hej DeefOekeÀlece keÀJej keÀer jeefMe 25 ueeKe ©He³es nesieer. The maximum cover for this rider shall be Rs. 25 lakhs taking all Term
SkeÀ mes DeefOekeÀ Hee@efuemeer³eeb nQ ³eefo Deewj DeJeefOe yeercee jeF[j yeercee jeefMe 25 ueeKe mes DeefOekeÀ Assurance Riders under all existing policies of the Life Assured taken
nesleer nw, lees Hee@efuemeer peejer keÀjves kesÀ ke´Àce ceW ueeYe, Henues DeJeefOe yeercee jeF[j yeercee jeefMe 25 ueeKe from Life Insurance Corporation of India including the new proposal
Hej ner ueeiet nesieer. under consideration. If there be more policies than one and if the total
Term Assurance Rider Sum Assured exceeds Rs. 25 lakhs, the benefits
shall apply to the first Rs. 25 lakhs Term Assurance Rider Sum Assured in
cetue ³eespevee kesÀ DeY³eHe&Ce Hej os³e ueeYeë- ³en jeF[j efkeÀmeer Yeer He´olle cetu³e keÀe DeefOeie´nCe veneR
order of date of policies issued.
keÀjsiee Deewj Fme jeF[j kesÀ lenled efkeÀmeer Yeer He´keÀej keÀe DeY³eHe&Ce cetu³e GHeueyOe veneR nesiee.
neueebefkeÀ, ³eefo ³en jeF[j ®egvee ie³ee nw Deewj cetue ³eespevee kesÀ DeY³eHe&Ce Hej, Fme jeF[j Deewj cetue Benefits payable on surrender of Basic Plan: This rider shall not
acquire any Paid-up Value and no surrender value will be available under
³eespevee kesÀ meboYe& ceW ³en jeF[j GHeuyOe keÀjeS ieS meYeer os³e He´erefce³ece kesÀ Yegieleeve keÀes mebueive keÀjves this rider. However, if this rider has been opted for and on surrender of the
Hej, cetue ³eespevee DeY³eHe&Ce cetu³e keÀes DeefOeie=nerle keÀjlee nw. DeefleefjkeÌle DeJeefOe yeercee jeF[j Hej Basic Plan to which this rider is attached, provided all the due premiums
DeJeefOe yeercee jeF[j keÀJej kesÀ mebyebOe ceW He´Yeeefjle jeefMe He´erefce³ece Yegieleeve DeJeefOe kesÀ yeeo in respect of this rider and Basic Plan have been paid and the Basic Plan
efvecveefueefKele Devegmeej JeeefHeme efkeÀ³ee peeSiee. has acquired surrender value, additional Term Assurance Rider premium
charged in respect of Term Assurance Rider cover after premium paying
He´erefce³ece DeJeefOe kesÀ oewjeve DeY³eHe&Ce keÀjves Hejë term shall be refunded as follows:
75% *[er* (HeerHeerHeerìer-HeerSve)*(DeJeefOe yeercee jeF[j Hej yeercee jeefMe/1000)
In case of Surrender during Premium Paying Term:
He´erefce³ece DeJeefOe kesÀ yeeo DeY³eHe&Ce keÀjves Hejë 75% * d* (Pppt-Pn)*(Term Assurance Rider Sum Assured/1000)
75% * HeerHeerHeerìer*(DeJeefOe yeercee jeF[j Hej yeercee jeefMe/1000) *(HeerHeerìer/HeerSve)*(Sve-ìer) In case of Surrender after Premium Paying Term:
peneb, 75% * Pppt *(Term assured Rider Sum Assured/1000)*(ppt/n)*(n-t)
HeerHeerHeerìer = He´efle 1000/- © Hej DeejbYe ceW jeF[j yeercee jeefMe keÀer DeJeefOe Hej meerefcele He´erefce³ece Where;
Yegieleeve DeJeefOe kesÀ efueS leeefuekeÀeyeOo Jeeef<e&keÀ He´erefce³ece. Pppt =Tabular annual premium for the limited premium paying term per
HeerSve = He´efle 1000/- © Hej leeefuekeÀeyeOo efve³eefcele Jeeef<e&keÀ He´erefce³ece, jeF[j yeercee jeefMe keÀer Rs. 1000/- Term Assurance Rider Sum Assured at inception
Pn = Equivalent Tabular annual Regular premium per Rs. 1000/- Term
DeJeefOe kesÀ yejeyej nesiee Deewj ³en Hee@efuemeer uesves kesÀ mece³e yeerefcele J³eefkeÌle keÀer Gce´ Je
jeF[j keÀer DeJeefOe Hej ueeiet efkeÀ³ee pee jne nw. Assurance Rider Sum Assured applicable to the Life Assured's
age at inception and term of the rider being n years.
(THej efoS ieS He´erefce³ece ceW mesJee keÀj Deewj DeefleefjkeÌle He´erefce³ece keÀes Meeefceue veneR efkeÀ³ee ie³ee nw, ³eefo keÀesF&
(Above Premiums excludes service tax and extra premium, if any.)
nes)
d = Policy duration elapsed in completed years as on date of surrender
[er = DeY³eHe&Ce keÀer leejerKe keÀes SkeÀ Je<e& Hetje nesves kesÀ efove ner Hee@efuemeer keÀer DeJeefOe keÀe yeerle peevee.
n = Term of the Rider
Sve= jeF[j keÀer DeJeefOe
ppt = Premium paying term of the Rider
HeerHeerìer= jeF[j keÀer He´erefce³ece Yegieleeve DeJeefOe
t = Policy duration elapsed in nearest completed years as on the date of
ìer= neue ner ceW HetCe& efkeÀS ngS DeY³eHe&Ce keÀer leejerKe kesÀ efove ner Hee@efuemeer keÀer DeJeefOe keÀe yeerle peevee. surrender
4 ueeYe ceW He´efleYeeefieleeë yeMelex Hee@efuemeer HetCe&leë He´YeeJeer nes, leye efveiece kesÀ DevegYeJe kesÀ DeeOeej Hej, 4. Participation in profits: Provided the policy is in full force, depending upon
SueDeeF&meer DeefOeefve³ece 1956 kesÀ Deveg®íso 28 kesÀ He´eJeOeeveeW kesÀ lenle pees mece³e-mece³e Hej the Corporation's experience the policy shall participate in profits in
mebMeesefOele ueeYeeW ceW He´efleYeeieer nesles nQ. ³en Hee@efuemeer, efveiece Üeje Ieesef<ele, efve³ece Deewj ojeW kesÀ accordance with the provisions of Section 28 of LIC Act, 1956, as amended
Devegmeej meeOeejCe He´l³eeJeleea yeesveme, ³eefo nw lees, kesÀ efueS ³eesi³e nesiee. meeOeejCe He´l³eeJeleea yeesveme from time to time and this policy will be eligible for Simple Reversionary
Bonus and Final Additional Bonus, if any, at such rate and on such terms as
keÀer Iees<eCee He´l³eskeÀ efJelleer³e Je<e& kesÀ Deble ceW keÀer peeSieer yeMelex Hee@efuemeer HetCe&leë He´YeeJeer nes. SkeÀ yeej
Ieesef<ele nesves kesÀ yeeo, yeesveme, ³eespevee kesÀ ieejbìer[ ueeYe keÀe efnmmee yeve peelee nw.
may be declared by the Corporation.
Simple Reversionary Bonuses shall be declared annually at the end of each
He´erefce³ece keÀe efJeefOeJele Yegieleeve veneR keÀjves keÀer efmLeefle ceW, Hee@efuemeer keÀer ueeYe ceW He´efleYeeefielee meceeHle financial year provided the policy is in full force. Once declared, they form
keÀj oer peeSieer Yeues ner He´olle cetu³e keÀe Yegieleeve efkeÀ³ee ie³ee nes ³ee ve efkeÀ³ee ie³ee nes. part of the guaranteed benefit of the plan.
Hee@efuemeer kesÀ DeY³eHe&Ce keÀjves keÀer efmLeefle ceW, efveefnle yeesveme keÀe meceHe&Ce cetu³e, ³eefo keÀesF& nes, In case the premiums are not duly paid, the policy shall cease to participate
in profits irrespective of whether or not the policy has acquired paid up value.
DeY³eHe&Ce keÀjves keÀer leejerKe mes ner ueeiet nesieer. efpemekeÀe Yegieleeve Hee@efuemeer omleeJes]pe ceW GuuesefKele
In the event of policy being surrendered, the Surrender Value of vested
Yeeie `[er' kesÀ efve³ece 5 kesÀ Devegmeej nesiee.
bonuses, if any, as applicable on the date of surrender, will be payable as
Hee@efuemeer kesÀ lenled Debeflece DeefleefjkeÌle yeesveme keÀer Iees<eCee, ce=l³eg ³ee HeefjHekeÌJelee Hej He´eHle oeJeeW kesÀ Je<e& specified in Condition 5 of Part D of this Policy document.
ceW keÀer pee mekeÀleer nw. Final Additional Bonus may also be declared under the policy in the year
He´olle Hee@efuemeer kesÀ lenled Debeflece DeefleefjkeÌle yeesveme os³e veneR nesiee. when the policy results into a claim either by death or maturity.
Final Additional Bonus shall not be payable under paid up policies.
5. He´erefce³ece keÀe Yegieleeve
5. Payment of Premiums
(S). os³e He´erefce³ece ``kegÀue He´erefce³ece efkeÀMle '' nesiee. efpemeceW efvecve Meeefceue nesiee, (a). The premium payable will be “total instalment premium” which includes
i. cetue ³eespevee kesÀ efueS efkeÀMle He´erefce³ece
i. Instalment premium for Basic Plan and
ii. Deiej SueDeeF&meer keÀe ogIe&ìvee efnleueeYe Deewj DeHebielee ueeYe jeF[j keÀe efJekeÀuHe ®egvee ii. Instalment premium for LIC's Accidental Death and Disability Benefit
ie³ee nw, lees Fme efJekeÀuHe kesÀ efueS efkeÀMle He´erefce³ece. Rider, if Accidental Death and Disability Benefit Rider option has
iii. ³eefo SueDeeF&meer keÀer veF& DeJeefOe yeercee jeF[j kesÀ efJekeÀuHe keÀe He´³eesie efkeÀ³ee ie³ee nw, lees been exercised.
veF& yeercee DeJeefOe jeF[j keÀer efkeÀMle He´erefce³ece, iii. Instalment premium for LIC's New Term Assurance Rider, if New
Term Assurance Rider option has been exercised.
(yeer) efj³ee³ele DeJeefOeë Jeeef<e&keÀ, DeOe& Jeeef<e&keÀ ³ee $ewceeefmekeÀ He´erefce³eceeW kesÀ Yegieleeve kesÀ efueS (b). Grace period: A grace period of one month but not less than 30 days
efj³ee³ele DeJeefOe SkeÀ ceen efkebÀleg 30 efove SJeb ceeefmekeÀ He´erefce³eceeW kesÀ efueS 15 efove keÀer efj³ee³ele shall be allowed for payment of yearly or half-yearly or quarterly
DeJeefOe oer peeSieer. ³eefo He´erefce³ece keÀe Yegieleeve efj³ee³ele DeJeefOe kesÀ meceeHle nesves kesÀ HetJe& veneR premiums and 15 days for monthly premiums. If the premium is not paid
efkeÀ³ee peelee nw lees Hee@efuemeer keÀeueeleerle nes peeSieer. before the expiry of the days of grace, the Policy lapses.
efj³ee³ele DeJeefOe kesÀ oewjeve Deewj Gme Je]keÌle os³e He´erefce³ece keÀe Yegieleeve keÀjves kesÀ HetJe& ³eefo yeerefcele If the death of the Life Assured occurs within the grace period but before
J³eefkeÌle keÀer ce=l³eg nes peeleer nw lees Hee@efuemeer JewOe jnsieer Deewj efnleueeYe keÀe Yegieleeve GkeÌle He´erefce³ece the payment of the premium then due, the policy will still be valid and the
leLee Deieueer Hee@efuemeer Je<e&ieebþ mes Henues Yegieleeve efkeÀS ieS He´erefce³ece, oeJes keÀer jeefMe keÀeì benefits shall be paid after deductions of the said unpaid premium as
efueS peeSbies. also the unpaid premium/s falling due before the next anniversary of the
policy.
(meer) ³eefo Hee@efuemeer keÀeueeleerle veneR ngF& nw Deewj ce=l³eg keÀer oMee ceW Hee@efuemeer kesÀ lenle oeJee efkeÀ³ee ie³ee (c) If the policy has not lapsed and the claim is admitted in case of death of
nw leye Gme Hee@efuemeer ceW peneb He´erefce³ece Yegieleeve Jeeef<e&keÀ lejer]kesÀ kesÀ DeueeJee Deewj keÀesF& lejer]keÀe Life Assured under a Policy where the mode of payment of premium is
nes, leye Deieueer Hee@efuemeer Je<e&ieebþ mes Henues Yegieleeve efkeÀS ieS He´erefce³ece, oeJes keÀer jeefMe ceW mes other than yearly, unpaid premium(s), if any, falling due before the next
keÀeì efueS peeSbies.
policy anniversary shall be deducted from the claim amount.
Yeeie [er
mesJee mes mebyebefOele Meles¥
1. Dee³eg He´ceeCeë He´mleeJe He$e Hej Ieesef<ele yeerefcele J³eefkeÌle keÀer Dee³eg, Dee³eg He´erefce³ece keÀer ieCevee nes
peeves kesÀ GHejeble ³eefo Ieesef<ele Dee³eg mes DeefOekeÀ HeeF& peeleer nw lees yeercee DeefOeefve³ece 1938 kesÀ Debleie&le
GHeueyOe DeefOekeÀejeW Deewj GHe®eejeW Hej keÀesF& He´efleketÀue He´YeeJe [eues efyevee, Ssmes ceeceues ceW, He´erefce³ece cetue
yeercee jeefMe SJeb jeF[j yeercee jeefMe Hej Deiej nw lees SJeb He´JesMe kesÀ mece³e mener Dee³eg kesÀ DeeOeej Hej
efvekeÀeueer ieF& oj mes os³e nesiee Deewj Hee@efuemeer DeejbYe nesves mes ueskeÀj Ssmes Yegieleeve keÀer efleefLe lekeÀ cetue
He´erefce³ece Deewj mener Dee³eg kesÀ He´erefce³ece kesÀ yeer®e kesÀ Deblej keÀer mebef®ele jeefMe Deewj Gme Hej Gmeer DeJeefOe
kesÀ efueS efveiece Üeje Gme mece³e He´®eefuele oj mes y³eepe meefnle Yegieleeve keÀjsiee, leLeeefHe He´eJeOeeve nw efkeÀ
³eefo yeerefcele J³eefkeÌle FmeceW GefuueefKele He´erefce³ece keÀer oj mes Yegieleeve keÀjlee jns Deewj GHe³egkeÌle mebef®ele
$eÝCe jeefMe keÀe Yegieleeve ve keÀjs lees Hee@efuemeer He´ejbYe nesves keÀer efleefLe mes Hee@efuemeer kesÀ oeJee yeveves keÀer
efleefLe lekeÀ mener Dee³eg kesÀ He´erefce³ece Deewj cetue He´erefce³ece kesÀ yeer®e kesÀ Deblej keÀer mebef®ele jeefMe Deewj Ssmes
Deblej keÀer He´l³eskeÀ efkeÀMle Hej oeJes kesÀ mece³e efveiece Üeje efveOee&efjle oj kesÀ Devegmeej y³eepe kesÀ meeLe os³e
nesieer, Gmes Hee@efuemeer Hej yeerefcele J³eefkeÌle Üeje os³e $eÝCe ceevee peeSiee leLee Hee@efuemeer kesÀ Debleie&le oeJee
nesves Hej Hee@efuemeer Yegieleeve jeefMe mes keÀeì efue³ee peeSiee.
³en Yeer He´eJeOeeve nw efkeÀ He´JesMe kesÀ mece³e yeerefcele J³eefkeÌle keÀer mener Dee³eg pees GkeÌle leeefuekeÀe ceW efveefo&<ì
yeercee Jeie& ³ee MeleeX kesÀ DeOeerve yeercee kesÀ efueS Gmes De³eesi³e yevee os lees Gmes Fme Hee@efuemeer kesÀ He´ejbYe ceW
He´®eefuele He´Lee kesÀ Devegmeej efveiece Üeje He´oeve efkeÀS peeves Jeeues Ssmes yeercee keÀer ³eespevee mes yeercee Jeie& ³ee
MeleeX keÀes HeefjJeefle&le keÀj efo³ee peeSiee, yeMelex yeerefcele J³eefkeÌle keÀes mJeerkeÀej nes, Dev³eLee Hee@efuemeer
efvejmle nes peeSieer.
2. peyleer mes megj#ee mebyebOeer efve³eceë Deiej GkeÌle Hee@efuemeer kesÀ Debleie&le ceW oes Je<e& mes keÀce keÀer He´erefce³ece keÀe
Yegieleeve efkeÀ³ee ie³ee nw Deewj efkeÀmeer Deeieeceer He´erefce³ece keÀe efve³eceevegmeej Yegieleeve veneR efkeÀ³ee ie³ee nw,
lees Fme Hee@efuemeer kesÀ Debleie&le mecemle ueeYe He´Lece DeoÊe He´erefce³ece keÀer efleefLe mes efj³ee³ele keÀer DeJeefOe keÀer
meceeefHle kesÀ yeeo mLeefiele nes peeSbies Deewj kegÀí Yeer os³e veneR nesiee.
neueebefkeÀ, ³eefo Fme Hee@efuemeer kesÀ Debleie&le ceW keÀce mes keÀce oes HetCe& Je<eeX kesÀ He´erefce³ece keÀe Yegieleeve keÀjves
Deewj efkeÀmeer DevegJeleea He´erefce³ece keÀe Yegieleeve efve³eceevegmeej ve keÀjves kesÀ yeeo, ³en Hee@efuemeer HetCe&leë
DeJewOe veneR nesieer, yeefukeÀ ®egkeÀlee Hee@efuemeerr kesÀ ªHe ces jnsieer.
He´olle Hee@efuemeer kesÀ lenled ce=l³eg Hej yeercee jeefMe ³eesie kesÀ efueS Ieìe oer peeSieer efpemes ``ce=l³eg He´olle
yeercee jeefMe'' keÀne peelee nw. Deewj ³en os³e He´erefce³eceeW keÀer kegÀue mebK³ee Deewj ce=l³eg Hej yeercee jeefMe kesÀ
meceeve DevegHeele ceW nesieer ³eeefve efkeÀ, ce=l³eg He´olle jeefMe= ce=l³eg Hej os³e jeefMe * (Yegieleeve efkeÀS ieS
He´erefce³ece keÀer mebK³ee/Yegieleeve DeJeefOe kesÀ oewjeve os³e He´erefce³ece keÀer mebK³ee)
He´olle Hee@efuemeer kesÀ lenled HeefjHekeÌJelee Hej yeercee jeefMe ³eesie kesÀ efueS Ieìe oer peeSieer efpemes
``HeefjHekeÌJelee He´olle yeercee jeefMe'' keÀne peelee nw. Deewj ³en os³e He´erefce³eceeW keÀer kegÀue mebK³ee Deewj
HeefjHekeÌJelee Hej yeercee jeefMe kesÀ yejeyejer kesÀ DevegHeele ceW nesieer ³eeefve efkeÀ, HeefjHekeÌJelee He´olle jeefMe=
HeefjHekeÌJelee Hej os³e jeefMe * (Yegieleeve efkeÀS ieS He´erefce³ece keÀer mebK³ee/os³e He´erefce³ece keÀer mebK³ee)
peneb Ssmeer Hee@efuemeer yeerceeke=Àle jeefMe keÀce ngF& nw, GuuesefKele He´erefce³eceeW kesÀ Yeerlej GvekesÀ Yegieleeve kesÀ
efueS mecemle oeef³elJeeW mes cegkeÌle nesieer, uesefkeÀve YeefJe<³e ceW ueeYe ceW He´efleYeeefieleer Kelce nes peeSieer.
neueebefkeÀ, efveefnle meeOeejCe He´l³eeJeleer& yeesveme keÀce keÀer ieF& He´olle Hee@efuemeer mes ner pegæ[s jnWies.
GHejeskeÌle keÀLeve kesÀ yeeJepeto, ³eefo Fme Hee@efuemeer kesÀ Debleie&le keÀce mes keÀce leerve HetCe& Je<eeX kesÀ He´erefce³eceeW
keÀe Yegieleeve efkeÀS peeves kesÀ yeeo, efkeÀmeer DevegJeleea He´erefce³ece keÀe Yegieleeve efve³eceevegmeej veneR efkeÀ³ee
peelee nw, lees He´Lece DeoÊe He´erefce³ece keÀer efve³ele efleefLe mes 6 ceen kesÀ Yeerlej yeerefcele J³eefkeÌle keÀer ce=l³eg nesves
keÀer oMee ceW efveefnle meeOeejCe He´l³eeJeleea yeesveme kesÀ meeLe ``ce=l³eg Hej yeerefcele jeefMe'' keÀe Yegieleeve,
keÀeìkeÀj cetue yeerceeke=Àle jeefMe kesÀ (keÀ) cetue yeercee Hee@efuemeer kesÀ lenle DeoÊe He´erefce³ece, ce=l³eg efoveebkeÀ
lekeÀ y³eepe kesÀ meeLe os³e nesieer-GvneR MeleeX Hej pewmes efkeÀ Gme mece³e Hee@efuemeer ceW Hegve®e&ueve nsleg efkeÀ³ee
peelee, Deewj (Ke) cetue Hee@efuemeer kesÀ lenle Deieueer Hee@efuemeer Je<e&ieebþ kesÀ HetJe& DeoÊe He´erefce³ece keÀe
Yegieleeve Gmeer He´keÀej efkeÀ³ee peeSiee pewmes efkeÀ Hee@efuemeer HetCe& ©He mes ®eeuet jner nes.
GHejeskeÌle keÀLeve kesÀ yeeJepeto, efkeÀ ³eefo keÀce mes keÀce Heeb®e Je<eeX keÀer DeJeefOe keÀe He´erefce³ece Yegieleeve
efkeÀ³ee ie³ee nw Deewj yeeo ceW efkeÀmeer Yeer He´erefce³ece keÀe efJeefOeJele Yegieleeve veneR efkeÀ³ee ie³ee nw, ³eefo yeerefcele
J³eefkeÌle keÀer ce=l³eg , He´erefce³ece keÀer os³e efleefLe mes He´Lece DeJewleefvekeÀ He´erefce³ece kesÀ 12 cenerves kesÀ Yeerlej nesleer
nw lees efveefnle meeOeejCe He´l³eeJeleea yeesveme kesÀ meeLe ``ce=l³eg Hej yeercee jeefMe'' keÀe Yegieleeve keÀes keÀeìkeÀj
cetue yeerceeke=Àle jeefMe kesÀ (keÀ) cetue yeercee Hee@efuemeer kesÀ lenle DeoÊe He´erefce³ece, ce=l³eg efoveebkeÀ lekeÀ y³eepe
kesÀ meeLe os³e nesieer-GvneR MeleeX Hej pewmes efkeÀ Gme mece³e Hee@efuemeer ceW Hegve®e&ueve nsleg efkeÀ³ee peelee, Deewj
(Ke) cetue Hee@efuemeer kesÀ lenle Deieueer Hee@efuemeer Je<e&ieebþ kesÀ HetJe& DeoÊe He´erefce³ece keÀe Yegieleeve Gmeer
He´keÀej efkeÀ³ee peeSiee pewmes efkeÀ Hee@efuemeer HetCe& ©He mes ®eeuet jner nes.
GHejesuuesefKele peyleer mes megj#ee mebyebOeer efve³ece JewkeÀefuHekeÀ jeF[j (DeeW) kesÀ efueS ueeiet veneR nw. pewmee
efkeÀ Jen efkeÀmeer Yeer He´olle cetu³e keÀes DeefOeie=nerle veneR keÀjles nQ. ³eefo Hee@efuemeer keÀeueeleerle DeJemLee ceW nw
lees Jen meceeefHle keÀer Deesj yeæ{ves ueieleer nw.
3. keÀeueeleerle Hee@efuemeer keÀe hegve®e&ueveë ³eefo Hee@efuemeer kesÀ efj³ee³ele DeJeefOe kesÀ Yeerlej yekeÀe³ee
He´erefce³ece ve pecee keÀjves kesÀ keÀejCe Hee@efuemeer keÀeueeleerle nes ie³eer nw lees Gmes yeerefcele J³eefkeÌle kesÀ
peerJevekeÀeue ceW, He´Lece DeoÊe He´erefce³ece keÀer efleefLe mes 2 ke´Àceeiele Je<e& keÀer DeJeefOe kesÀ Yeerlej leLee
HeefjHekeÌJelee efleefLe kesÀ HetJe& efveiece keÀes melele yeercee³eesi³elee keÀe meblees<eHe´o He´ceeCe He´mlegle keÀjves Hej leLee
meYeer yekeÀe³ee He´erefce³eceeW keÀe Yegieleeve kesÀ mece³e efveiece Üeje mece³e mece³e Hej efveOee&efjle oj mes íceener
®eke´ÀJe=ef× y³eepe kesÀ meeLe Yegieleeve keÀjkesÀ Hegve®e&ueve keÀje³ee pee mekeÀlee nw. leLeeefHe, efveiece yebo
Hee@efueefme³eeW kesÀ He´Jele&ve keÀes cetue MeleeX Hej mJeerkeÀej ³ee mebMeesefOele ojeW Hej mJeerkeÀej keÀjves keÀe DeefOekeÀej
DeHeves Heeme megjef#ele jKelee nw. yebo Hee@efuemeer keÀe Hegve®e&ueve leYeer He´YeeJeer nesiee peye efveiece Üeje Gmes
Devegceesefole keÀj efo³ee peeSiee leLee efJeefMe<ì ªHe mes He´mleeJe/yeerefcele J³eefkeÌle keÀes mettef®ele keÀj efo³ee
peeSiee.
jeF[j (DeeW) keÀe Hegve®e&ueve, ³eefo ®e³eve efkeÀ³ee ie³ee nw, lees GmekeÀe cetue Hee@efuemeer kesÀ hegve®e&ueve kesÀ
meeLe ner efJe®eej efkeÀ³ee peeSiee, Deueie mes veneR.
4. $eÝCeë Hee@efuemeer DeJeefOe kesÀ oewjeve $eÝCe efue³ee pee mekeÀlee nw, yeMelex keÀce mes keÀce oes HetCe& Je<eeX kesÀ
He´erefce³eceeW keÀe Yegieleeve efkeÀ³ee ie³ee nes, pees efvecveebefkeÀle efve³eceeW Je MeleeX leLee Ssmes Deeieeceer efve³eceeW Je
MeleeX kesÀ DeOeerve nesiee, pees efveiece mece³e-mece³e Hej le³e keÀj mekeÀlee nw, leLee pees Ssmeer jeefMe kesÀ efueS
Hee@efuemeer kesÀ DeY³eHe&Ce cetu³e kesÀ Yeerlej nesiee.
1. efueS ieS $eÝCe Deewj Gme Hej os³e y³eepe keÀer Jemetueer kesÀ efueS peceevele kesÀ ªHe ceW Hee@efuemeer HetCe&leë
efveiece kesÀ veece Hej mecevegosefMele keÀer peeSieer Deewj GmekesÀ Üeje jKeer peeSieer.
2. efveiece keÀes $eÝCe Hej y³eepe keÀe Yegieleeve mebyebefOele $eÝCe mJeerke=Àle keÀjles mece³e efveiece Üeje efveOee&efjle
oj mes íceener ®eke´ÀJe=ef× DeeOeej Hej efkeÀ³ee peeSiee. y³eepe keÀe He´Lece Yegieleeve Deieueer Hee@efuemeer
Je<e&ieebþ ³ee íë ceen HetJe& Deeves Jeeueer efleefLe, FveceW pees Yeer mebyebefOele $eÝCe osves kesÀ lelkeÀeue yeeo DeeS,
Hej efkeÀ³ee peeSiee Deewj GmekesÀ yeeo He´l³eskeÀ íceener DeeOeej Hej efkeÀ³ee peeSiee. y³eepe keÀce mes keÀce
íë ceen kesÀ efueS efue³ee peeSiee.
3. Gve Hee@efueefme³eeW kesÀ ceeceues ceW, pees He´YeeJeer veneR nw, ³eeefve He´oÊe Hee@efueefme³eeW kesÀ ceeceues ceW, ³eneb
GHejeskeÌleevegmeej JeefCe&le efleefLe Hej $eÝCe y³eepe keÀe Yegieleeve yekeÀe³ee nesves keÀer oMee ceW, efveiece Ssmeer
Hee@efueefme³eeW keÀes 30 efove keÀer met®evee DeJeefOe kesÀ Hetje nesves kesÀ yeeo efkeÀmeer Yeer mece³e yebo keÀjves keÀe
DeefOekeÀejer nesiee, ³eefo y³eepe efvejblej yekeÀe³ee jnles nQ. Ssmeer Hee@efueefme³eeb yebo nesves kesÀ yeeo yebo nesves
keÀer efleefLe Hej yekeÀe³ee $eÝCe SJeb mebef®ele y³eepe keÀer keÀìewleer kesÀ yeeo DeY³eHe&Ce cetu³e, ³eefo keÀesF& nw,
kesÀ Yegieleeve keÀer DeefOekeÀejer nesieer. ³eÐeefHe He´YeeJeer Hee@efueefme³eeW keÀer efmLeefle ceW (peneb meYeer yekeÀe³ee
He´erefce³eceeW keÀe Yegieleeve efkeÀ³ee ie³ee nw), yebo keÀjves keÀer keÀe³e&Jeener ueeiet veneR nesieer.
4. Hee@efuemeer kesÀ HeefjHekeÌJe nesves keÀer efmLeefle ceW ³ee ce=l³eg oeJes keÀer efmLeefle ceW efveiece $eÝCe jeefMe ³ee GmekesÀ
Part D
CONDITIONS RELATED TO SERVICING ASPECTS
1. Proof of Age : The premiums having been calculated on the age of the Life
Assured as declared in the Proposal, in case the age is found higher than
such age, without prejudice to the Corporation's other rights and remedies,
including those under the Insurance Act, 1938, the premiums shall be
payable in such case at the rate calculated on the Basic Sum Assured and
Rider(s) Sum Assured, if opted for, for the correct age at entry, and the
accumulated difference between the premiums for the correct age and the
original premiums, from the commencement of the Policy upto the date of
such payment shall be paid to the Corporation with interest at such rate as
fixed by the Corporation from time to time. However, in case the Life
Assured/Proposer continues to pay the premiums at the rates shown herein,
and also does not pay the above mentioned accumulated debt, the
accumulated difference between the premiums for the correct age and the
original premiums from the commencement of this Policy up to the date on
which the Policy becomes a claim, with interest on each instalment of such
difference at such rate as may be fixed by the Corporation from time to time,
shall accrue and be treated as a debt due by the Life Assured / Proposer
against the said Policy and shall be deducted from the Policy moneys
payable on the Policy becoming a claim.
Provided further that if the Life Assured's correct age at entry is such as
would have made him/her uninsurable under the class or terms of assurance
specified in the said Schedule hereto, the class or terms shall stand altered
to such Plan of Assurance as are granted by the Corporation according to
the practice in force at the commencement of this policy subject to the
consent of the Policyholder, otherwise the policy will be cancelled.
2. Non-forfeiture Regulations: If less than two years' premiums have been
paid in respect of this policy and any subsequent premium be not duly paid,
all the benefits under this policy shall cease after the expiry of grace period
from the date of first unpaid premium and nothing shall be payable.
However, if, after atleast two full years' premiums have been paid and any
subsequent premiums be not duly paid, this policy shall not be wholly void,
but shall subsist as a paid-up policy.
The Sum Assured on Death under a paid-up policy shall be reduced to such
a sum, called 'Death Paid-up Sum Assured' and shall bear the same ratio to
the Sum Assured on Death as the number of premiums paid bears to the
total number of premiums payable i.e. Death Paid-up Sum Assured = Sum
Assured on Death * (no. of premiums paid / no. of premiums payable during
the premium paying term).
The Sum Assured on Maturity under a paid-up policy shall be reduced to
such a sum called 'Maturity Paid-up Sum Assured' and shall bear the same
ratio to the Sum Assured on Maturity as the number of premiums paid bears
to the total number of premiums payable i.e. Maturity Paid-up Sum Assured
= Sum Assured on Maturity * (no. of premiums paid / no. of premiums
payable).
The policy so reduced shall thereafter be free from all liabilities for payment
of the within mentioned premiums, but shall not be entitled to participate in
future profits. However, the vested simple reversionary bonuses shall remain
attached to the reduced paid up policy.
Notwithstanding what is stated above, if atleast 3 full years' premiums have
been paid in respect of this policy, and any subsequent premium be not duly
paid, in the event of the death of the Life Assured within six months from the
due date of first unpaid premium, “Sum Assured on Death” along with
vested simple reversionary bonuses will be paid after deduction of (a) the
premium or premiums unpaid with interest thereon upto the date of death on
the same terms as for revival of the Policy during such period, and (b) the
unpaid premiums falling due before the next Policy anniversary.
Notwithstanding what is stated above, if at least 5 full years' premiums have
been paid in respect of this policy, and any subsequent premium be not duly
paid, in the event of death of the Life Assured within 12 months from the first
unpaid premium, “Sum Assured on Death” along with vested simple
reversionary bonuses will be paid after deduction of (a) the premium or
premiums unpaid with interest thereon upto the date of death on the same
terms as for revival of the Policy during such period, and (b) the unpaid
premiums falling due before the next Policy anniversary.
The above mentioned non-forfeiture provisions do not apply to optional
Rider(s) as they do not acquire any paid up value and the rider benefit
ceases to apply, if policy is in lapsed condition.
3. Revival of lapsed Policies: If the Policy has lapsed due to non payment of
due premium within the days of grace, it may be revived during the life time of
the Life Assured, but within a period of 2 consecutive years from the date of
the first unpaid premium on submission of proof of continued insurability to
the satisfaction of the Corporation and the payment of all the arrears of
premium together with interest (compounding half-yearly) at such rate as
fixed by the Corporation from time to time. The Corporation however,
reserves the right to accept at original terms, accept with modified terms or
decline the revival of a discontinued policy. The revival of the discontinued
policy shall take effect only after the same is approved by the Corporation
and is specifically communicated to the Life Assured.
Revival of Rider(s), if opted for, will only be considered along with the revival
of the Basic Plan and not in isolation.
4. Policy Loan: Loan can be availed under this policy provided atleast two full
years' premiums have been paid subject to the following terms and
conditions, within the surrender value of the policy for such amounts and on
such further terms and conditions as the Corporation may fix from time to
time:
1. The Policy shall be assigned absolutely to and held by the Corporation
as security for the repayment of Loan and of the interest thereon;
2. Interest on Loan shall be paid on compounding half-yearly basis to the
Corporation at the rate to be specified by the Corporation at the time of
taking loan under this policy. The first payment of interest is to be made
on the next Policy anniversary or on the date six months before the next
Policy anniversary whichever immediately follows the date on which the
Loan is sanctioned and every half year thereafter. Interest is charged for
a minimum period of six months;
3. In case of policies which are not inforce i.e. paid-up policies, in the event
of default in payment of loan interest on the due date as herein
mentioned above, the Corporation would be entitled to foreclose such
policies which continue to be in default, anytime after expiry of notice
period of 30 days. Such policies when being foreclosed shall be entitled
to payment of surrender value as on date of foreclosure, if any, after
deduction of outstanding loan and accrued interest. However, in case of
inforce policies (where all the due premiums stand paid) and fully paid
up policies( where all premiums payable during the term of the policy
stand paid), foreclosure action shall not be applicable;
4. In case the policy shall mature or become a claim by death, the
efkeÀmeer Yeeie keÀe, pees yekeÀe³ee nes, Hee@efuemeer Oeve mes y³eepe meefnle keÀeìves keÀe DeefOekeÀejer nesiee.
5. DeY³eHe&Ceë Hee@efuemeer keÀes Hee@efuemeer DeJeefOe kesÀ oewjeve efkeÀmeer Yeer mece³e DeY³eefHe&le efkeÀ³ee pee mekeÀlee nw,
yeMelex keÀce mes keÀce oes efvejblej HetCe& Je<eeX keÀer He´erefce³eceeW keÀe Yegieleeve keÀj efo³ee ie³ee nes.
ieejìbekreÀ=le DeY³eHeC&e ceut³e Yeigeleeve keÀer ieF& keÀgue Hee´ercfe³eceeW (keÀj keÀer evfeJeue) keÀs Hee´lfeMele ceW neisee,
epfemeceW keÀeFs& DeelfeejfkelÌe Hee´ercfe³ece SJeb oIgeì&vee ueeYe enfleueeYe, ³eeof Fmes ®evgee ie³ee n,w keÀs eufeS Hee´ercfe³ece
ceW Meeecfeue veneR n.Q ³en Hee´lfeMele Heee@ufemeer DeJeeOfe SJeb Gme Heee@ufemeer Je<e& Hej DeeOeeejfle neisee, epfemeceW
Heee@ufemeer keÀes DeY³eeHfel&e ekfeÀ³ee ie³ee nw Deejw Fme Heu´eKse keÀs eufeS HeejfeMfe<ì-I keÀs ªHe ceW meubeive n.w
FmekesÀ DeueeJee efveefnle meeOeejCe He´l³eeJeleea yeesveme keÀe DeY³eHe&Ce cetu³e, ³eefo keÀesF& nes, os³e nesiee, Deewj
³en efveefnle yeesveme kesÀ DeY³eHe&Ce cetu³e kesÀ ueeiet efveefnle yeesveme kesÀ cetu³e keÀejkeÀ kesÀ iegCeebkeÀ kesÀ yejeyej
neslee nw. ³en DeY³eHe&Ce cetu³e kesÀ keÀejkeÀ, Hee@efuemeer DeJeefOe Deewj Hee@efuemeer Je<e& (efpeme Je<e& ceW Hee@efuemeer
keÀe DeY³eHe&Ce efkeÀ³ee ie³ee) Hej efveYe&j keÀjlee nw. Deewj ³en DevegyebOe-II ceW Fme omleeJes]pe kesÀ meeLe
mebueive nesleer nw. leLeeefHe Fme Hee@efuemeer kesÀ lenled, efJeMes<e DeY³eHe&Ce cetu³e os³e nesiee, ³eefo ³en
Hee@efuemeerOeejkeÀ kesÀ efueS DeefOekeÀ efnlekeÀj nes. efJeMes<e DeY³eHe&Ce cetu³e, ®egkeÀlee yeerceeke=Àle jeefMe keÀe
HeefjHekeÌJelee Hej He´olle yeercee jeefMe (Yeeie [er kesÀ Mele& 2 ceW GuuesefKele) Deewj efveefnle meeOeejCe
He´l³eeJeleea yeesveme keÀer efj³ee³eleer cetu³e nesiee, ³eefo keÀesF& nes. Fme Hee@efuemeer kesÀ efueS ueeiet efj³ee³ele IeìkeÀ
DeeF&Deej[erSDeeF& kesÀ HetJe& Devegceesove kesÀ meeLe mece³e-mece³e Hej yeoue mekeÀles nQ.
jeF[j(DeeW) Hej keÀesF& DeY³eHe&Ce cetu³e GHeueyOe veneR nesiee, ³eefo keÀesF& nw.
Yeeie F ueeiet veneR
Yeeie SheÀ
Dev³e efve³ece Je MeleX
1. ceg]heÌle uegkeÀ DeJeefOeë ce§heÌle uegkeÀ DeJeefOe kesÀ oewjeve, Deiej Hee@efuemeerOeejkeÀ Hee@efuemeer kesÀ efve³ece leLee
MeleeW& mes mebleg<ì veneR nw lees Jen DeHeveer DeeHeefÊe³eeW kesÀ keÀejCe keÀe GuuesKe keÀjles ngS Hee@efuemeer keÀes
(FmekeÀer He´eefHle keÀer efleefLe mes 15 efoveeW kesÀ Deboj efveiece keÀes) ueewìe mekeÀlee nw. FmekesÀ He´eHle nesves Hej
efveiece Hee@efuemeer keÀes jÎ keÀj osiee leLee mebjef#ele peesefKece DeJeefOe kesÀ efueS DeevegHeeeflekeÀ peesefKece
He´erefce³ece (cetue Hueeve Deewj jeF[j, Deiej ®egvee ie³ee nes, kesÀ efueS) mJeemL³e peeb®e MegukeÀ Je mìwcHe
[îetìer nsleg MegukeÀ keÀes keÀeìkeÀj, pecee efkeÀS ieS He´erefce³ece keÀes ueewìe osiee.
2. kegÀí IeìveeDeeW ceW peyleerë ³eneB efveefnle ³ee He=<þebefkeÀle efkeÀmeer HeefjefmLeefle kesÀ GuuebefIele nesves keÀer
efmLeefle ceW ³ee Fme He´mleeJe ceW, efkeÀmeer efvepeer keÀLeve, Iees<eCee leLee mebyebefOele keÀeie]peeleeW ceW keÀesF& Demel³e
³ee ieuele keÀLeve Hee³es peeves Hej ³ee efkeÀmeer cenÊJeHetCe& peevekeÀejer kesÀ veneR yelee³es peeves keÀer efmLeefle ceW SJeb
He´l³eskeÀ Ssmeer efmLeefle ceW Hee@efuemeer Deceev³e nes peeSieer SJeb Ssmeer Hee@efuemeer kesÀ heÀuemJeªHe efkeÀmeer Yeer
efnleueeYe kesÀ meYeer oeJes mece³e-mece³e Hej mebMeesefOele yeercee DeefOeefve³ece, 1938 keÀer Oeeje 45 kesÀ
He´eJeOeeveeW kesÀ DeOeerve neWies.
3. meceeveo g Mseve leLee veeceekbeÀveë De)meceeveogMseveë Fme Hueeve keÀs Delbeiel&e mece³e-mece³e Hej
³eMeemeMbeeesOfele yeecree DeeOfeevfe³ece, 1938 keÀer Oeeje 38 keÀs Delbeiel&e meceeveogMseve keÀer Devecgeelfe n.w Oeeje
38 keÀs ceep w eote Hee´JeOeeve Fme Heee@ufemeer omleeJepse keÀs HeejfeMfe<ì-III ceW eofS ieS n.w meceeveogMseve keÀer me®tevee,
HepbeekreÀjCe keÀs eufeS Heee@ufemeer keÀes meJsee Heo´eve keÀjves Jeeues evfeiece keÀs keÀe³eeu&e³e ceW oer peeveer ®eeenfS.
ye) veeceebkeÀveë mece³e-mece³e Hej ³eLeemebMeesefOele yeercee DeefOeefve³ece 1938 keÀer Oeeje 39 kesÀ Debleie&le
HeeefuemeerOeejkeÀ keÀes veeceebkeÀve keÀjvee peªjer nw. Oeeje 39 kesÀ ceewpetoe He´eJeOeeve Fme Hee@efuemeer kesÀ
Devegmet®eer -IV ceW efo³es ie³es nw.
veeceebkeÀve ³ee veeceebkeÀve ceW HeefjJele&ve keÀer met®evee Hee@efuemeer keÀes mesJee He´oeve keÀjves Jeeueer efveiece keÀe³ee&ue³e
ceW HebpeerkeÀjCe nsleg oer peeveer ®eeefnS. veeceebkeÀve keÀe HebpeerkeÀjCe keÀjles mece³e efveiece GmekeÀer JewOelee ³ee
keÀevetveer He´YeeJe kesÀ yeejs ceW keÀesF& efpeccesoejer mJeerkeÀej veneR keÀjlee nw ³ee DeHeveer keÀesF& je³e veneR oslee nw.
4. Deelcenl³eeë ³en Hee@efuemeer DeJewOe nes peeSieer.
i. ³eefo yeerefcele J³eefkeÌle peesefKece Meg© nesves keÀer efleefLe mes 12 ceen kesÀ Yeerlej efkeÀmeer Yeer mece³e
Deelcenl³ee keÀj ueslee nw (ceeveefmekeÀ ªHe mes mJemLe ³ee DemJemLe) lees efveiece Üeje Fme Hee@efuemeer
kesÀ Debleie&le Hej efkeÀmeer Yeer oeJes Hej efJe®eej veneR efkeÀ³ee peeSiee, He´olle He´erefce³eceeW kesÀ 80% keÀes
íesæ[keÀj, efpemeceW keÀesF& keÀj, DeefleefjkeÌle He´erefce³ece Deewj jeF[j He´erefce³ece DeJeefOe jeF[j kesÀ
DeueeJee Dev³e He´erefce³ece Meeefceue veneR nw,³eefo keÀesF& nes, yeMelex Hee@efuemeer ®eeuet DeJemLee ceW nes
ii. ³eeo f yeeercfele J³eekfelÌe Heee@ufemeer Hevge®eu&eve nevses keÀer elfeeLfe mes 12 ceen keÀs Yeelrej keÀYeer ekfeÀmeer Yeer mece³e
Deelcenl³ee keÀj uelsee nw (ceeveemfekeÀ ªHe mes mJemLe ³ee DemJemLe) lees cel=³eg elfeeLfe lekeÀ Heo´lle
Hee´ercfe³eceeW keÀs 80% (ekfeÀmeer keÀj, DeelfeejfkelÌe Hee´ercfe³ece Deejw jeF[j Hee´ercfe³ece Deejw DeJeeOfe jeF[j keÀs
DeueeJee Dev³e Hee´ercfe³ece keÀes íe[ æs keÀj, ³eeof keÀeFs& ne)s ³ee DeY³eHeC&e ceut³e, pees Yeer DeeOfekeÀ ne,s jeeMfe
o³se neisee.r yeMelex Heee@ufemeer ®eeuet DeJemLee ceW ne.s evfeiece Üeje Fme Heee@ufemeer keÀs Delbeiel&e ekfeÀmeer Dev³e
oeJes Hej eJfe®eej vener ekfeÀ³ee peeSiee. ³en Jeeke³ÌeeMbe keÀeueeleelre Heee@ufemeer keÀs eufeS ueeiet nw pees ekfeÀ ekfeÀmeer
Yeer DeY³eHeC&e ceut³e keÀes DeeOfeiee=nfle veneR keÀjlee nw Deleë Smseer DeJemLee ceW keÀgí Yeer jeeMfe o³se veneR neisee.r
5. keÀjë keÀj mesJeekeÀj meefnle, ³eefo keÀesF& nes, keÀj keÀevetve kesÀ Devegmeej nesiee Deewj keÀj keÀer oj efveOee&efjle
oj Hej ueeiet nesieer.
efveOee&efjle ojeW kesÀ Devegmeej keÀj keÀer jeefMe DeefleefjkeÌle He´erefce³ece meefnle SkeÀue He´erefce³ece Hej
Hee@efuemeerOeejkeÀ Üeje os³e nesieer, ³eefo keÀesF& nes. ³eespevee kesÀ lenle He´olle keÀj keÀer jeefMe Hej ³eespevee kesÀ
Debleie&le os³e ueeYeeW keÀer ieCevee kesÀ efueS efJe®eej veneR efkeÀ³ee peeSiee.
6. oeJes keÀer meeceev³e DeHes#eeSbë Hee@efuemeerOeejkeÀ keÀer ce=l³eg nesves Hej oeJesoej Üeje oeJee He´mlegle keÀjles
mece³e os³e meeOeejCe omleeJes]peeW ceW oeJee HeÀece&, cetue Hee@efuemeer omleeJes]pe, yeQkeÀ Keeles ceW oeJes keÀer jeefMe
meerOes pecee keÀjves kesÀ efueS oeJeekeÀlee& keÀer Deesj mes SveF&SHeÀìer DeeosMe He$e mJeeefcelJe He´ceeCeHe$e, ce=l³eg
keÀe He´ceeCeHe$e, ce=l³eg mes HetJe& keÀe ef®eefkeÀlmeer³e GHe®eej, efve³eeskeÌlee keÀe He´ceeCeHe$e, FveceW mes pees ueeiet nes,
efveiece keÀes meblees<eHe´o ªHe ceW HesMe keÀjvee nesiee. Deiej Hee@efuemeer kesÀ Debleie&le Dee³eg mJeerke=Àle veneR keÀer ieF&
nw, lees yeerefcele J³eefkeÌle keÀer Dee³eg keÀe He´ceeCe Yeer He´mlegle keÀjvee nesiee.
peneb Hee@efuemeer HetCee&JeefOe oeJes ceW HeefjJeefle&le nesleer nw ³ee efJeÐeceevelee efnleueeYe kesÀ DeY³eHe&Ce keÀer oMee ceW
yeerefcele J³eefkeÌle Üeje Dee³eg He´ceeCeHe$e, Deiej Dee³eg Henues meJeerke=Àle veneR ngF& nw, kesÀ meeLe efJecegefkeÌle He$e
Deewj cetue Hee@efuemeer He´uesKe, yeQkeÀ Keeles ceW oeJes keÀer jeefMe meerOes pecee keÀjves kesÀ efueS oeJeekeÀlee& keÀer Deesj
mes SveF&SHeÀìer DeeosMe He$e He´mlegle efkeÀ³ee peeSiee.
1) He´Lece met®evee He´efleJesove (S]HeÀDeeF&Deej) keÀer SkeÀ He´ceeefCele He´efle.
2) Hegefueme DevegmebOeeve He´efleJesove efjHeesì& keÀer He´ceeefCele He´efle.
3) Heb®eveeces keÀer He´efleefueefHe.
4) ce=l³eg kesÀ mebYeeefJele keÀejCe peeveves kesÀ efueS Heesmìceeì&ce efjHeesì&. ³eefo Heesmìceeì&ce ceW efJemeje keÀes
mebjef#ele efkeÀ³ee ie³ee nes lees GmekeÀer efJe<e³e-JemlegDeeW keÀes peeveves kesÀ efueS jemee³eefvekeÀ efJeMues<ekeÀ
He´efleJesove, efkeÀ yeerefcele J³eefkeÌle ves Mejeye, veMeerues oJeeDeeW, veejkeÀesefìkeÌme ³ee penj keÀe mesJeve lees
veneR efkeÀ³ee Lee.
5) mecee®eej He$e keÀer keÀlejve peneb ogIe&ìvee He´efleJesefole ngF& nes.
6) ³eefo ce=l³eg Jeenve ogIe&ìvee kesÀ keÀejCe ngF& nw lees [^eFefJebie ueeFmeWme keÀer He´efle, ³eefo yeerefcele J³eefkeÌle
Üeje Jeenve ®euee³ee pee jne Lee.
7) ce=l³eg kesÀ yeejs ceW meye- ef[efJepeveue ceefpemì^sì keÀe Debeflece efveCe&³e- Fmemes ce=l³eg keÀe JeieeakeÀjCe
mJeeYeeefJekeÀ/Deelcenl³ee/ogIe&ìveeJeMe kesÀ ªHe ceW nesiee.
8) Deiej ogIe&ìvee keÀes Hegefueme He´eefOekeÀeefj³eeW keÀes He´efleJesefole veneR efkeÀ³ee ie³ee nw, pewmes kegÀllee ³ee meebHe
keÀeìves mes ce=l³eg, lees JewkeÀefuHekeÀ mee#³e, pewmes He´l³e#eoMeea mee#eer keÀe JekeÌleJ³e, ie´ecemesJekeÀ ³ee
MeemekeÀer³e DeefOekeÀeefj³eeW keÀe MeHeLe He$e, nceeje DeHevee Hetíleeí He´efleJesove, Fueepe keÀjvesJeeues
ef®eefkeÀlmekeÀ ³ee He´efleJesove Deeefo He³ee&Hle nes mekeÀles nQ.
9) DemHeleeue GHe®eej DeefYeuesKe, Deeefo.
7. JewOeeefvekeÀ HeefjJele&veë Fme Hee@efuemeer kesÀ Debleie&le os³e He´erefce³eceeW Deewj efnleueeYe meefnle efve³ece Deewj
MeleX mebyebefOele keÀevetveeW Deewj efJeefvece³eeW kesÀ Devegmeej HeefjJele&veer³e nQ.
8. ueeYe ef®e$eCeë ceevekeÀ peerJeve HetJe&OeejCee Hej DeeOeeefjle DeeHekeÀe DevegketÀefuele ueeYe ef®e$eCe Fme He´uesKe
kesÀ meeLe mebueive nw.
Corporation shall become entitled to deduct the amount of the Loan or
any portion thereof which is outstanding, together with all interest from
the policy moneys.
5. Surrender: The policy can be surrendered at any time during the policy term
provided atleast two full years' premiums have been paid.
The Guaranteed Surrender Value shall be a percentage of total premiums
paid (net of tax) excluding any extra premiums and premiums for rider(s), if
opted for. This percentage will depend on the policy term and policy year in
which the policy is surrendered and is enclosed as Annexure - I to this
document.
In addition, the surrender value of vested simple reversionary bonuses, if
any, shall also be payable, which is equal to vested bonuses multiplied by
the Surrender Value factor applicable to vested bonuses. These surrender
value factors will depend on the policy term and the policy year in which
policy is surrendered and is enclosed as Annexure – II to this document.
However, under this policy, Special Surrender Value will be payable, if it is
more favorable to the Policyholder. The Special Surrender Value will be the
discounted value of the sum of Maturity Paid-up Sum Assured (as defined in
Condition 2 of Part D) and vested Simple Reversionary Bonuses, if any.
These discounting factors applicable to this policy may change from time to
time with prior approval of IRDAI.
No surrender value will be available on Rider(s), if any.
Part E Not Applicable
Part F
OTHER TERMS AND CONDITIONS
1. Free Look period: During the Free Look period, if the Policyholder is not
satisfied with the Terms or Conditions of the policy, he/she may return the
policy to the Corporation stating the reason of objections. On receipt of the
same the Corporation shall cancel the policy and return the amount of
premium deposited after deducting the proportionate risk premium (for
Basic Plan and riders, if any) for the period on cover and charges for
medical examination, special reports, if any and stamp duty.
2. Forfeiture in Certain Events: In case any condition herein contained or
endorsed hereon shall be contravened or in case it is found that any untrue or
incorrect statement is contained in the proposal, personal statement,
declaration and connected documents or any material information is withheld,
then and in every such case this policy shall be void and all claims to any benefit
in virtue of this policy shall be subject to the provisions of Section 45 of the
Insurance Act, 1938, as amended from time to time.
3. Assignments and Nominations: a)Assignment:Assignment is allowed under
this plan as per section 38 of the Insurance Act, 1938 as amended from time to
time. The current provisions of Section 38 are contained in Annexure-III of this
policy document. The notice of assignment should be submitted for registration
to the office of the Corporation, where the policy is serviced.
b) Nominations: Nomination by the holder of a policy of life assurance is
required as per section 39 of the Insurance Act, 1938 as amended from time to
time. The current provisions of Section 39 are contained in Annexure-IV of this
policy document.
The notice of nomination or change of nomination should be submitted for
registration to the office of the Corporation, where the policy is serviced. In
registering nomination the Corporation does not accept any responsibility or
express any opinion as to its validity or legal effect.
4. Suicide: This policy shall be void
i. If the Life Assured (whether sane or insane) commits suicide at any time
within 12 months from the date of commencement of risk and the
Corporation will not entertain any claim under this policy except to the
extent of 80% of the premiums paid excluding any taxes, extra premium
and rider premium(s) other than term assurance rider, if any, provided
the policy is inforce.
ii. If the Life Assured (whether sane or insane) commits suicide within 12
months from date of revival, an amount which is higher of 80% of the
premiums paid till the date of death (excluding any taxes, extra premium
and rider premium(s) other than term assurance rider, if any,) or the
surrender value, shall be payable. The Corporation will not entertain any
other claim under this policy. This clause shall not be applicable for a
lapsed policy which has not acquired any surrender value and hence
nothing shall be payable.
5. Tax: Taxes including Service Tax, if any, shall be as per the Tax laws and the
rate of tax shall be as applicable from time to time.
The amount of tax as per the prevailing rates shall be payable by the
policyholder as and when the premiums are paid, on the Installment
premium including extra premium and rider premium, if any. The amount of
tax paid shall not be considered for the calculation of benefits payable under
the plan.
6. Normal requirements for a claim: The normal documents which the
claimant shall submit while lodging the claim in case of death of the Life
Assured shall be claim forms, as prescribed by the Corporation,
accompanied with original policy document, NEFT mandate from the
claimant for direct credit of the claim amount to the bank account, proof of
title, proof of death, medical treatment prior to the death, school/ college/
employer's certificate, whichever is applicable, to the satisfaction of the
Corporation. If the age is not admitted under the policy, the proof of age of
the Life assured shall also be submitted.
Where the policy results into a maturity claim or results into a survival
benefits claim or in case of surrender of the policy, the Life Assured shall
submit the discharge form along with the original policy document, NEFT
mandate from the claimant for direct credit of the claim amount to the bank
account besides proof of age, if the age is not admitted earlier.
Where policy results into a accidental disability/death claim the applicable
statements from the following list may be called to ascertain circumstances
under which death / disability took place:-
1) A certified copy of first information report (FIR).
2) A certified copy of police inquest report.
3) Copy of panchanama.
4) Post mortem report to know the probable cause of death. If viscera is
preserved in post mortem, then chemical analyzer report to know the
contents i.e. whether life assured has consumed liquor, drugs, narcotics
or poison.
5) News paper cuttings where accident is reported.
6) If death is due to vehicle accident, then copy of driving licence, if life
assured was driving the vehicle.
7) Sub-divisional magistrate final verdict about death- this will give
classification of death as 'natural/suicide/accidental’
8) When accident is not reported to police authorities, like death due to dog
or snake bite, then alternate proofs such as statement of eye witness,
affidavit of gramsevak or govt. officials, our own enquiry report, attending
physician or hospital reports may be sufficient.
9) Hospital treatment records, etc.
7. Legislative Changes: The Terms and Conditions including the premiums
and benefits payable under this policy are subject to variation in accordance
with the relevant Legislation & Regulations.
8. Benefit Illustration: Your customized Benefit Illustration based on standard
life assumption is enclosed to this document.
Yeeie peer - meebefJeefOekeÀ He´eJeOeeve Part G - STATUTORY PROVISIONS {bE àmW{_H$Vm H$mo {d{Z`{_V H$aoJr, VWm Ohm§ A§VaU `m g_ZwXoeZ Ho$ EH$ go A{YH$ transfer or assignment the priority of the claims under such instruments shall be
yeercee DeefOeefve³ece 1938 keÀer Oeeje 45: Section 45 of Insurance Act, 1938: B§ñQ¯>_oÝQ> hm| dhm§ Eogo B§ñQ¯>_oÝQ²>g Ho$ A§VJ©V Xmdm| H$s àmW{_H$Vm Cg H«$_ Ûmam em{gV hmoJr, governed by the order in which the notices referred to in sub-section (5) are
delivered:
mece³e-mece³e Hej ³eLeemebMeesefOele yeercee DeefOeefve³ece 1938 keÀer Oeeje 45 kesÀ He´eJeOeeve ueeiet neWies~ ceewpetoe He´eJeOeeve The provisions of Section 45 of the Insurance Act, 1938 shall be applicable as {Og_| Cn-Ymam (5) _| g§X{^©V Zmo{Q>g gwnwX© {H$E JE h¢&
Provided that if any dispute as to priority of payment arises as between assignees,
Fme Hee@efuemeer omleeJespe kesÀ Devegmet®eer -V ceW efo³es ie³es nw~ amended from time to time. The current provisions are contained in Annexure-V of g_ZwXo{eVm| Ho$ ~rM ^wJVmZ H$s àmW{_H$Vm Ho$ ~mao _| H$moB© {ddmX CËnÝZ hmoZo na Cgo the dispute shall be referred to the Authority.
efMekeÀe³ele meceeOeeve He´Ceeueer ë this policy document. àm{YH$mar H$mo g§X{^©V {H$`m OmEJm& (7) Upon the receipt of the notice referred to in sub-section (5), the insurer shall record
ie´enkeÀeW keÀer efMekeÀe³eleeW kesÀ meceeOeeve kesÀ efueS efveiece kesÀ MeeKee/ceb[ue/#es$eer³e/kesÀvêer³e keÀe³ee&ue³e ceW efMekeÀe³ele Grievance Redressal Mechanism: (7) Cn-Ymam (5) _| g§X{^©V Zmo{Q>g Ho$ àmßV hmoZo na, Eogo A§VaU `m g_ZwXoeZ Ho$ VÏ` H$mo the fact of such transfer or assignment together with the date thereof and the name
meceeOeeve DeefOekeÀejer nQ~ ie´enkeÀeW keÀer efMekeÀe³ele keÀe MeerIe´ meceeOeeve keÀjves kesÀ efueS efveiece ves DeHeves keÀmìcej Heesì&ue The Corporation has Grievance Redressal Officers at Branch/ Divisional/ Zonal/ CgH$s {V{W VWm A§V[aVr `m g_ZwXo{eV Ho$ Zm_ Ho$ gmW XO© H$aoJm VWm Zmo{Q>g XoZo dmbo of the transferee or the assignee and shall, on the request of the person by whom
(JesyemeeFì) http://www.licindia.in kesÀ ]peefjS ie´enkeÀ MegYeef®evlekeÀ SkeÀerke=Àle efMekeÀe³ele He´yebOeve He´Ceeueer Central Office to redress grievances of customers. For ensuring quick redressal of ì`pŠV Ûmam AZwamoY {H$E OmZo na, `m AJa A§V[aVr `m g_ZwXo{eV, {d{Z`_m| Ûmam {ZYm©[aV the notice was given, or of the transferee or assignee, on payment of such fee as
customer grievances the Corporation has introduced Customer friendly Integrated may be specified by the regulations, grant a written acknowledgement of the
He´mlegle keÀer nw, efpemekesÀ ]peefjS Hebpeerke=Àle Hee@efuemeerOeejkeÀ DeHeveer efMekeÀe³ele keÀes meerOes ope& keÀj mekeÀles nwb leLee H$s JB© \$sg Ho$ ^wJVmZ na, Eogo Zmo{Q>g Ho$ àmßV hmoZo H$s {b{IV nmdVr XoVm h¡; Am¡a Eogr {H$gr receipt of such notice; and any such acknowledgement shall be conclusive
Complaint Management System through our Customer Portal (website) which is
GmekeÀer efmLeefle Hej efveiejeveer jKe mekeÀles nQ~ ie´enkeÀ DeHeveer efkeÀmeer mecem³ee kesÀ meceeOeeve kesÀ efueS F&cesue DeeF&[er http://www.licindia.in, where a registered policy holder can directly register nmdVr H$mo ~r_mH$Vm© Ho$ {dê$Õ Bg ~mV H$m {ZîH$fu gmú` _mZm OmEJm {H$ Cgo nmdVr go evidence against the insurer that he has duly received the notice to which such
co_crmgrv@licindia.com Hej Yeer mecHeke&À keÀj mekeÀles nQ~ complaint/ grievance and track its status. Customers can also contact at e-mail id g§~§{YV Zmo{Q>g {d{YdV àmßV hþAm h¡& acknowledgment relates.
Deiej He´eHle He´eflemeeo mes ie´enkeÀ mebleg<ì veneR nes ³ee Gmes 15 efoveeW kesÀ Deboj ncemes keÀesF& He´eflemeeo ve efceues lees ie´enkeÀ co_crmgrv@licindia.com for redressal of any grievances. (8) A§VaU `m g_ZwXoeZ Ho$ {Z`_m| VWm eVm] Ho$ AYrZ, ~r_mH$Vm© Ûmam, Cn-Ymam (5) _| g§X{^©V (8) Subject to the terms and conditions of the transfer or assignment, the insurer shall,
efvecveefueefKele efkeÀmeer ceeO³ece mes DeeF&Deej[erSDeeF& kesÀ efMekeÀe³ele keÀ#e keÀes mecHeke&À keÀj mekeÀlee nw~ In case the customer is not satisfied with the response or do not receive a response Zmo{Q>g H$s àmpßV H$s {V{W go, nm°{bgr Ho$ A§VJ©V bm^ Ho$ nmÌ A§V[aVr `m g_ZwXo{eV H$s from the date of the receipt of the notice referred to in sub section (5), recognize the
transferee or assignee named in the notice as the absolute transferee or assignee
• ìesue he´Àer vebyej 155255/18004254732 (DeLee&le DeeF&Deej[erSDeeF& efMekeÀe³ele keÀe@ue mesvìj) Hej from us within 15 days, then the customer may approach the Grievance Cell of the nhMmZ H$aoJm `m Eogm ì`pŠV CZ g^r Xm{`VmAm| VWm BpŠd{Q>`m| Ho$ AYrZ hmoJm, {OgH$m {H$ entitled to benefit under the policy, and such person shall be subject to all liabilities
keÀe@ue keÀjs IRDAI through any of the following modes: A§VaU `m g_ZwXoeZ H$s {V{W H$mo A§VaUH$Vm© `m g_ZwXoeH$ nmÌ Wm Vwm dh nm°{bgr Ho$ g§~§Y and equities to which the transferor or assignor was subject at the date of the
• ³eneB F& cesue Yespes complaints@irda.gov.in • Calling Toll Free Number 155255 / 18004254732 (i.e. IRDAI Grievance Call Centre) _| H$moB© H$ma©dmB© H$a gH$Vm h¡, dh nm°{bgr Ho$ A§VJ©V F$U àmßV H$a gH$Vm h¡ `m A§VaUH$Vm© transfer or assignment and may institute any proceedings in relation to the policy,
• Sending an email to complaints@irda.gov.in obtain a loan under the policy or surrender the policy without obtaining the consent
• Dee@veueeFve efMekeÀe³ele http://www.igms.irda.gov.in Hej ope& keÀjs • Register the complaint online at http://www.igms.irda.gov.in
`m g_ZwXoeH$ H$s gh_{V àmßV {H$E {~Zm nm°{bgr H$mo Aä`n©U H$a gH$Vm h¡ `m Cgo Eogr of the transferor or assignor or making him a party to such proceedings.
• ketÀefj³ej/He$e kesÀ peefjS efMekeÀe³ele ³eneB YespekeÀjë GHeYeeskeÌlee ceeceues efJeYeeie, Yeejleer³e yeercee • Address for sending the complaint through courier / letter: H$ma©dmB© H$s EH$ nmQ>u ~Zm gH$Vm h¡& Explanation – Except where the endorsement referred to in sub-section (1)
efJeefve³eecekeÀ leLee efJekeÀeme He´eefOekeÀjCe, 9Jeerb cebefpeue, ³egvee³eìs[ Fbef[³ee ìeJeme&, yeMeerjyeeie, Consumer Affairs Department, Insurance Regulatory and Development ñnï>rH$aU - {gdm` BgHo$ {H$ Ohm§ Cn-Ymam (1) _| g§X[^©V n¥ð>m§H$Z ñnï> ê$n go CëboI expressly indicates that the assignment or transfer is conditional in terms of
nwojeyeeo - 500 029, DeebOe´ He´osMe~ Authority of India, 9th Floor, United India Towers, Basheerbagh, Hyderabad – H$aVm hmo {H$ g_ZwXoeZ `m A§VaU, `hm§ Xr JB© Cn-Ymam (10) Ho$ A§VJ©V geV© h¡, àË`oH$ subsection (10) hereunder, every assignment or transfer shall be deemed to be an
500 029, Andhra Pradesh. g_ZwXoeZ `m A§VaU H$mo nyU© g_ZwXoeZ `m A§VaU _mZm OmEJm Vwm g_ZwXo{eV `m A§V[aVr absolute assignment or transfer and the assignee or transferee, as the case may
• hewÀkeÌme veb. 040-66789768 Hej efMekeÀe³ele Yespes be, shall be deemed to be the absolute assignee or transferee respectively.
• Sending the complaint by Fax to 040-66789768 H$mo, O¡gr ^r pñW{V hmo, H«$_e: nyU© g_ZwXo{eV `m A§V[aVr _mZm OmEJm&
pees oeJesoej ce=l³eg kesÀ oeJes keÀes DemJeerke=Àle efkeÀS peeves kesÀ efveCe&³e mes Demebleg<ì neW Jes DeHeves ceeceues keÀes meceer#ee kesÀ efueS (9) Any rights and remedies of an assignee or transferee of a policy of life insurance
Claimants not satisfied with the decision of death claim repudiation have the option of (9) ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_ 2015 Ho$ Ama§^ hmoZo go nhbo {H$E JE {H$gr g_ZwXoeZ `m
#es$eer³e keÀe³ee&ue³e oeJee efJeJeeo meceeOeeve meefceefle ³ee kesÀvêer³e keÀe³ee&ue³e oeJee efJeJeeo meceeOeeve meefceefle kesÀ Heeme under an assignment or transfer effected prior to the commencement of the
referring their cases for review to Zonal Office Claims Dispute Redressal Committee
Yespe mekeÀles nQ~ He´l³eskeÀ oeJee efJeJeeo meceeOeeve meefceefle ceW G®®e v³ee³eeue³e/efpeuee v³ee³eeue³e kesÀ SkeÀ mesJeeefveJe=Êe or Central Office Claims Dispute Redressal Committee. A retired High Court/ District
A§VaU go OrdZ ~r_m H$s nm°{bgr Ho$ {H$gr g_ZwXo{eV `m A§V[aVr Ho$ A{YH$ma d CnMma Bg Insurance Laws (Amendment) Act, 2015 shall not be affected by the provisions of
pepe meom³e kesÀ ªHe ceW nQ~ oeJeeW mes mebyebefOele efMekeÀe³eleeW kesÀ meceeOeeve kesÀ efueS oeJesoej Yeejle mejkeÀej Üeje Ymam Ho$ àmdYmam| Ûmam à^m{dV Zht hm|Jo& this section.
Court Judge is member of each of the Claims Dispute Redressal Committees. For
efve³egkeÌle yeercee ueeskeÀHeeue mes Yeer mecHeke&À keÀj mekeÀles nQ pees efkeÀ ie´enkeÀeW keÀes keÀce Ke®ex kesÀ meeLe lJeefjle ieefle mes redressal of Claims related grievances, claimants can also approach Insurance (10) {H$gr H$mZyZ Ho$ hmoZo Ho$ ~mdOyX `m J«mhH$ H$s H$mZyZ Ho$ à{VHy$b ~mÜ`Vm hmoZo na, ì`pŠV Ho$ nj (10) Notwithstanding any law or custom having the force of law to the contrary, an
ceO³emLelee He´oeve keÀjves kesÀ efueS nw~ _| g_ZwXoeZ Bg Xem _| {H$`m Om gH$Vm h¡ {H$ assignment in favour of a person made upon the condition that-
Ombudsmen who provides for low cost and speedy arbitration to customers.
A. nm{°bgr H$o AV§JV© YZam{e nm{°bgrYmaH$ `m Zm{_V ì`pŠV `m Zm{_V ì`pŠV`m| H$mo Cg Xem a. The proceeds under the policy shall become payable to the policyholder or the
DevegyebOe-I / Annexure – I DevegyebOe-II / Annexure – II _| X`o hmo gH$Vr h¡ AJa g_ZXw{oeV `m AV§[aVr H$s _Ë¥`w ~r_mYmaH$ go nhbo hmo OmVr h;¡ `m nominee or nominees in the event of either the assignee or transferee
predeceasing the insured; or
kegÀue JewleefvekeÀ He´erefce³ece Hej ieejbìer[ DeY³eHe&Ce cetu³e kesÀ keÀejkeÀ efveefnle yeesveme Hej ieejbìer[ DeY³eHe&Ce cetu³e keÀejkeÀ ~. ~r_mYmaH$ nm{°bgr H$s Ad{Y VH$ Or{dV ahVm h,¡ _mÝ` hmJom: b. The insured surviving the term of the policy , shall be valid:
VWm{n geV© g_ZXw{oeV nm{°bgr H$mo Aä`nU© H$aZo `m nm{°bgr na F$U bZoo H$m nmÌ Zht hmJom& Provided that a conditional assignee shall not be entitled to obtain a loan on the
Guaranteed Surrender Value factors applicable to total premiums paid Guaranteed Surrender Value factors applicable to vested bonuses
(11) Cn-Ymam (1) Ho$ A§VJ©V ~r_m nm°{bgr Ho$ Am§[eH$ g_ZwXoeZ `m A§VaU H$s Xem _|, ~r_mH$Vm© policy or surrender a policy.
Hee@efuemeer DeJeefOe / Policy Term Hee@efuemeer DeJeefOe / Policy Term H$s Xm{`Vm Am§{eH$ g_ZwXoeZ `m A§VaU Ûmam gwa{jV H$s JB© am{e VH$ gr{_V hmoJr VWm Eogm (11) In the case of the partial assignment or transfer of a policy of insurance under sub
12 16 21 12 16 21 nm°{bgrYmaH$ Cgr nm°{bgr Ho$ A§VJ©V Xo` eof am{e Ho$ {bE nwZ: g_ZwXoeZ `m A§VaU H$aZo section (1), the liability of the insurer shall be limited to the amount secured by
H$m nmÌ Zht hmoJm& partial assignment or transfer and such policyholder shall not be entitled to further
1 0.00% 0.00% 0.00% 1 0.00% 0.00% 0.00% assign or transfer the residual amount payable under the same policy.
n[a{eï> IV
2 30.00% 30.00% 30.00% 2 0.00% 0.00% 0.00% Zm_m§H$Z-~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ûmam `Wmg§emo{YV ~r_m A{Y{Z`_, Annexure - IV
3 30.00% 30.00% 30.00% 3 18.60% 17.58% 15.93% 1938 H$s Ymam 39 Ho$ Azwgma Nomination - As per Section 39 of the Insurance Act 1938, as amended by the
(1) OrdZ ~r_m H$s nm°{bgr H$m YmaH$ AnZo OrdZ na, nm°{bgr boVo g_` `m ^wJVmZ hoVw nm°{bgr Insurance Laws (Amendment) Act, 2015
4 50.00% 50.00% 50.00% 4 19.18% 17.66% 16.22% (1) The holder of a policy of life insurance on his own life may, when effecting the policy
Ho$ n[anŠd hmoZo go nhbo {H$gr ^r g_`, {H$gr ì`pŠV `m ì`pŠV`m| H$mo Zm{_V H$a gH$Vm h¡,
5 50.00% 50.00% 50.00% 5 19.93% 17.85% 16.58% or at any time before the policy matures for payment, nominate the person or
{Ogo/{OÝh| CgH$s _¥Ë`w H$s pñW{V _| nm°{bgr Ûmam g§a[jV am{e H$m ^wJVmZ {H$`m OmEJm& persons to whom the money secured by the policy shall be paid in the event of his
6 50.00% 50.00% 50.00% 6 20.85% 18.16% 17.03% eV© `h h¡ {H$, AJa Zm{_V ì`pŠV Zm~m{bJ hm,o Vmo nm{°bgrYmaH$ H$o {bE `h H$mZZyZ C{MV hmJom death:
7 50.00% 50.00% 50.00% 7 21.99% 18.60% 17.58%
{H$ ~r_mH$Vm© Ûmam {ZYm[©aV VarH$o go {H$gr ì`pŠV H$mo {Z`ŠwV H$ao Omo {H$ Zm{_V ì`pŠV H$o Provided that, where any nominee is a minor, it shall be lawful for the policy holder
Hee@efuemeer Je<e& / Policy Year

Hee@efuemeer Je<e& / Policy Year

8 57.50%
9 65.00%
10 72.50%
11 80.00%
12 80.00%
13
14
15
16
17
18
19
20
21
n[a{eï> III
g_ZwXoeZ-~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ûmam `Wmg§emo{YV ~r_m A{Y{Z`_,
1938 H$s Ymam 38 Ho$ AZwgma
(1) ~r_m nm°{bgr H$m A§VaU `m g_ZwXoeZ, nyU©V: `m A§eV: à{V\$bg{hV `m BgHo$ {~Zm, Ho$db
nm°{bgr na hr n¥ð>m§H$Z `m AbJ go B§ñQ¯>_oÝQ> Ûmam {H$gr ^r _m_bo _| A§VaUH$Vm© `m
g_ZwXoeH$ `m CZHo$ A{YH¥$V EOoÝQ> Ûmam {H$`m Om gH$Vm h¡, {Ogo H$_ go H$_ EH$ gmjr Ûmam
gË`m{nV {H$`m OmZm Mm{hE, {deof ê$n go A§VaU `m Aä`n©U Ho$ VÏ` Am¡a H$maU,
g_ZwXo{eV Ho$ nyd©d¥Îm Am¡a g_ZwXoeZ H$s eVm] H$m CëboI H$aVo hþE&
(2) ~r_mH$Vm© Cn-Ymam (1) Ho$ A§VJ©V {H$E JE {H$gr A§VaU `m g_ZwXoeZ H$mo ñdrH$ma H$a
gH$Vm h¡ `m {H$gr n¥ð>m§H$Z H$mo ñdrH$ma H$aZo go _Zm H$a gH$Vm h¡, AJa CgHo$ nmg `h _mZZo
H$m n`m©ßV H$maU hmo {H$ `h A§VaU `m g_ZwXoeZ dmñV{dH$ Zht h¡ `m nm°{bgrYmaH$ Ho$ {hV _|
`m OZ{hV `m ~r_m nm°{bgr H$s Q´>oqS>J Ho$ à`moOZ hoVw Cn`wŠV Zht h¡&
(3) ~r_mH$Vm©, n¥ð>m§H$Z na A_b H$aZo go BÝH$ma H$aZo go nhbo AnZr AñdrH¥${V Ho$ H$maU H$mo
{b{IV _| XO© H$aoJm VWm nm°{bgrYmaH$ Ûmam Eogo A§VaU `m g_ZwXoeZ H$m Zmo{Q>g XoZo H$s
{V{W go 30 {XZm| Ho$ A§Xa Eogr AñdrH¥${V go nm°{bgrYmaH$ H$mo gy{MV H$aoJm&
(4) ~r_mYmaH$ Ûmam Eogo A§VaU `m n¥ð>m§H$Z na A_b H$aZo go BÝH$ma H$aZo go à^m{dV H$moB© ì`pŠV
~r_mH$Vm© go H$maU g{hV BÝH$ma H$s gyMZm {_bZo H$s {V{W go 30 {XZm| Ho$ A§Xa àm{YH$mar Ho$
nmg AnZm Xmdm aI gH$Vm h¡&
(5) Cn-Ymam (2) Ho$ àmdYmZm| Ho$ AYrZ, A§VaU `m g_ZwXoeZ nyU© hmoJm VWm Eogo n¥ð>m§H$Z `m
{d{YdV gË`m{nV B§ñQ¯>_oÝQ> na A_b à^mdr hmoJm, {gdm` dhm§ Ohm§ A§VaU `m g_ZwXoeZ
~r_mH$Vm© Ho$ nj _| h¡, ~r_mH$Vm© Ho$ {dê$Õ à^mdr Z hmoJm, VWm `h A§V[aVr `m g_ZwXo{eV `m
CZHo$ H$mZyZr à{V{Z{Y H$mo Eogr nm°{bgr Ho$ A§VJ©V am{e Ho$ {bE H$mZyZr Xmdm H$aZo `m CZHo$
Ûmam YZam{e H$mo gwa{jV H$aZo H$m A{YH$ma Zht XoVm h¡& A§VaU `m g_ZwXoeZ H$m {b{IV _|
Zmo{Q>g `m CŠV n¥ð>m§H$Z `m B§ñQ¯>_oÝQ> H$s à{V, {Ogo O~ VH$ {H$ A§VaUH$Vm© VWm A§V[aVr
XmoZm| `m CZHo$ {d{YdV A{YH¥$V EOoÝQ²>g Ûmam gË` hmoZo Ho$ {bE gË`m{nV {H$`m J`m hmo,
~r_mH$Vm© H$mo gm¢nm Zht OmVm h¡&
~eV] Ohm§ ~r_mH$Vm© Ho$ ^maV _| EH$ `m A{YH$ H$mamo~ma Ho$ ñWmZ hmo, dhm§ Zmo{Q>g H$mo Ho$db dht
na {X`m OmZm h¡, Ohm§ go nm°{bgr H$mo godm àXmZ H$s Om ahr h¡&
(6) {Og {V{W H$mo Cn-Ymam (5) _| g§X[^©V Zmo{Q>g ~r_mH$Vm© H$mo gwnwX© {H$`m OmVm h¡, Cggo dh
nm°{bgr _| {hV aIZo dmbo g^r ì`pŠV`m| Ho$ ~rM A§VaU `m g_ZwXoeZ Ho$ A§VJ©V g^r Xmdm| Ho$
Zm~m{bJ ahZo H$o Xma¡mZ nm{°bgrYmaH$ H$s _Ë¥`w hmZoo na nm{°bgr Ûmam ga§{jV am{e H$mo àmßV H$a to appoint any person in the manner laid down by the insurer, to receive the money
53.75% 52.31% 8 23.38% 19.18% 17.58% gH$o& secured by policy in the event of his death during the minority of the nominee.
57.50% 54.62% 9 25.05% 19.93% 17.66% (2) Eogo {H$gr Zm_m§H$Z H$mo à^mdr hmoZo Ho$ {bE, AJa dh nm°{bgr H$s eãX `moOZm _| {ZJ{_V Zht (2) Any such nomination in order to be effectual shall, unless it is incorporated in the
text of the policy itself, be made by an endorsement on the policy communicated to
61.25% 56.92% 10 27.06% 20.85% 17.85% h¡, Vmo Cgo ~r{_V H$aZo Ho$ {bE gy{MV nm°{bgr na n¥ð>m§H$Z VWm nm°{bgr go g§~§{YV [aH$m°S>©²g _| the insurer and registered by him in the records relating to the policy and any such
CgHo$ Ûmam n§OrH$aU Ho$ µO[aE {ZJ{_V {H$`m OmEJm, VWm Eogo H$moB© Zm_m§H$Z nm°{bgr Ho$ nomination may at any time before the policy matures for payment be cancelled or
65.00% 59.23% 11 30.00% 21.99% 18.16% changed by an endorsement or a further endorsement or a will, as the case may
n[anŠd hmoZo go nhbo {H$gr ^r g_` ^wJVmZ go nyd© {H$gr n¥ð>m§H$Z `m dgr`V, O¡gr ^r
68.75% 61.54% 12 35.00% 23.38% 18.60% be, but unless notice in writing of any such cancellation or change has been
pñW{V hmo, Ûmam aÔ {H$E `m ~Xbo Om gH$Vo h¢, bo{H$Z AJa Bg àH$ma {ZañVrH$aU `m delivered to the insurer, the insurer shall not be liable for any payment under the
72.50% 63.85% 13 25.05% 19.18% n[adV©Z Ho$ {bE ~r_mH$Vm© H$mo {b{IV _| gyMZm Z Xr JB© hmo Vmo ~r_mH$Vm© nm°{bgr Ho$ AV§J©V policy made bona fide by him to a nominee mentioned in the text of the policy or
76.25% 66.15% 14 27.06% 19.93%
CgHo$ Ûmam dmñV{dH$ ~ZmE JE nm°{bgr H$s eãX `moOZm _| C{ëb{IV `m ~r_mH$Vm© Ho$ registered in records of the insurer.
[aH$m°S>©²g _| n§OrH¥$V Zm_m§{H$V H$mo {H$gr ^wJVmZ Ho$ {bE Xm`r Zht hmoJm& (3) The insurer shall furnish to the policy holder a written acknowledgement of having
80.00% 68.46% 15 30.00% 20.85% (3) ~r_mH$Vm© Ûmam nm°{bgrYmaH$ H$mo Zm_m§H$Z Ho$ n§OrH¥$V H$amE OmZo `m CgHo$ {ZañVrH$aU `m registered a nomination or a cancellation or change thereof, and may charge such
fee as may be specified by regulations for registering such cancellation or change.
80.00% 70.77% 16 35.00% 21.99% ~Xbo OmZo Ho$ ~mao _| {b{IV nmdVr XoJm VWm {d{Z`_m| Ûmam {d{ZYm©[aV Eogo {ZañVrH$aU `m
(4) A transfer or assignment of a policy made in accordance with section 38 shall
73.08% 17 23.38%
n[adV©Z H$mo n§OrH¥$V H$aZo Ho$ {bE ewëH$ ^r bo gH$Vm h¡& automatically cancel a nomination:
(4) Ymam 38 H$o AZHw$«_ _| nm{°bgr _| {H$gr AV § aU `m g_ZXweoZ go Zm_mH§$Z ñdV: aÔ hmo OmEJm:
75.38% 18 25.05% Provided that the assignment of a policy to the insurer who bears the risk on the
eV© `h h¡ {H$ ~r_mH$Vm© H$mo nm{°bgr H$m g_ZXweoZ, Omo {H$ g_ZXweoZ H$o g_` nm{°bgr na policy at the time of the assignment, in consideration of a loan granted by that
77.69% 19 27.06% Om{oI_ H$m dhZ H$aVm hm,o Cg ~r_mH$Vm© Ûmam nm{°bgr H$s O_mZV na, CgH$o Aä`nU© _ëy` `m insurer on the security of the policy within its surrender value, or its reassignment
nZw: g_ZXweoZ H$o AV§JV© hm,o F$U ñdê$n H$s ^anmB© H$aZo na Zm_mH§$Z aÔ Zht hmJom, b{oH$Z on repayment of the loan shall not cancel a nomination, but shall affect the rights of
80.00% 20 30.00% the nominee only to the extent of the insurer's interest in the policy:
Zm{_V H$o A{YH$ma H$odb Cg hX VH$ à^m{dV hmJ|,o {OVZm {H$ nm{°bgr _| ~r_mH$Vm© H$m {hV hm:o
80.00% 21 35.00% Provided further that the transfer or assignment of a policy, whether wholly or in
AmJo eV© `h h¡ {H$ nm°{bgrYmaH$ H$mo A§V[a{V `m g_ZwXo{eV Ûmam A{J«_ ê$n go {XE JE F$U Ho$ part, in consideration of a loan advanced by the transferee or assignee to the
à{V\$b ñdê$n nm°{bgr H$m A§VaU `m g_ZwXoeZ, Mmho `h nyU©V: hmo `m A§eV:, Zm_m§H$Z aÔ policyholder, shall not cancel the nomination but shall affect the rights of the
Annexure - III Zht hmoJm, bo{H$Z Zm_m§{H$V ì`pŠV Ho$ A{YH$mam| H$mo Cgr hX VH$ à^m{dV H$aoJm, Omo {H$ nominee only to the extent of the interest of the transferee or assignee, as the case
Assignment - As per Section 38 of the Insurance Act 1938, as amended by the nm°{bgr _| A§V[aVr `m g_ZwXo{eV H$m {hV hmoJm: may be, in the policy:
Insurance Laws (Amendment) Act, 2015 Provided also that the nomination, which has been automatically cancelled
eV© `h ^r h¡ {H$ Zm_m§H$Z Omo {H$ A§VaU `m g_ZwXoeZ na CgHo$ n[aUm_ñdê$n AnZo Amn
(1) A transfer or assignment of a policy of insurance, wholly or in part, whether with or consequent upon the transfer or assignment, the same nomination shall
without consideration, may be made only by an endorsement upon the policy itself
aÔ hþAm hmo, dh Zm_m§H$Z g_ZwXo{eV Ûmam nwZ: g_ZwXoeZ `m A§V[aVr Ûmam F$U Ho$ ^wJVmZ na stand automatically revived when the policy is reassigned by the assignee or
or by a separate instrument, signed in either case by the transferor or by the {gdm` ~r_mH$Vm© H$mo nm°{bgr H$s O_mZV na, nwZ: A§VaU go ñdV: nwZ: àMm{bV hmo OmEJm& retransferred by the transferee in favour of the policyholder on repayment of loan
assignor or his duly authorised agent and attested by at least one witness, (5) Ohm§ nm°{bgr H$s ^wJVmZ hoVw n[anŠdVm Cg ì`pŠV Ho$ OrdZH$mb _| hmoVr h¡ {OgHo$ OrdZ H$mo other than on a security of policy to the insurer.
specifically setting forth the fact of transfer or assignment and the reasons thereof, ~r{_V {H$`m J`m h¡ `m AJa Zm{_V ì`pŠV `m EH$ go A{YH$ Zm{_Vm| _| go g^r nm°{bgr Ho$ (5) Where the policy matures for payment during the lifetime of the person whose life is
the antecedents of the assignee and the terms on which the assignment is made. insured or where the nominee or, if there are more nominees than one, all the
^wJVmZ hoVw n[anŠd hmoZo go nhbo _a OmVo h¢, dhm§ nm°{bgr Ho$ A§VJ©V gwa{jV am{e H$m ^wJVmZ
(2) An insurer may, accept the transfer or assignment, or decline to act upon any nominees die before the policy matures for payment, the amount secured by the
endorsement made under sub-section(1), where it has sufficient reason to believe nm°{bgrYmaH$ `m CgHo$ CÎmam{YH$m[a`m| `m H$mZyZr à{V{Z{Y`m| `m CÎmam{YH$ma à_mUnÌ Ho$ policy shall be payable to the policyholder or his heirs or legal representatives or the
that such transfer or assignment is not bonafide or is not in the interest of the YmaH$ H$mo, O¡gr ^r pñW{V hmo, {H$`m OmEJm& holder of a succession certificate, as the case may be.
policyholder or in public interest or is for the purpose of trading of insurance policy. (6) Ohm§ EH$ `m A{YH$ Zm{_V hm| VWm EH$ `m EH$ go A{YH$ Zm{_V, Cg ì`pŠV Ho$ ~mX Or{dV (6) Where the nominee or if there are more nominees than one, a nominee or nominees
(3) The insurer shall, before refusing to act upon the endorsement, record in writing the ahVo h¢, {OgHo$ OrdZ H$mo ~r{_V {H$`m J`m h¡, Vmo nm°{bgr Ûmam gwa{jV H$s JB© am{e H$m ^wJVmZ survive the person whose life is insured, the amount secured by the policy shall be
reasons for such refusal and communicate the same to the policyholder not later payable to such survivor or survivors.
than thirty days from the date of the policy-holder giving notice of such transfer or
Eogo CÎmaOrdr `m CÎmaOr{d`m| H$mo {H$`m OmEJm&
(7) Bg Ymam Ho$ AÝ` àmdYmZm| Ho$ AYrZ, Ohm§ ~r_m nm°{bgr Ho$ YmaH$ Zo AnZo OrdZ na AnZo (7) Subject to the other provisions of this section, where the holder of a policy of
assignment. insurance on his own life nominates his parents, or his spouse, or his children, or his
(4) Any person aggrieved by the decision of an insurer to decline to act upon such _mVm/{nVm `m AnZo OrdZgmWr `m AnZo ~ÀMm| `m AnZo OrdZ gmWr Am¡a ~ÀMm| `m CZ_| go spouse and children, or any of them, the nominee or nominees shall be beneficially
transfer or assignment may within a period of thirty days from the date of receipt of {H$gr H$mo Zm{_V {H$`m hmo, Eogo Zm{_V Cn-Ymam (6) Ho$ A§VJ©V ~r_mH$Vm© Ûmam Xo` am{e Ho$ {bE entitled to the amount payable by the insurer to him or them under sub-section (6)
the communication from the insurer containing reasons for such refusal, prefer a bm^mWu hm|Jo, O~ VH$ {H$ `h gm{~V Zht hmoVm {H$ nm°{bgr H$m YmaH$, nm°{bgr _| CgHo$ unless it is proved that the holder of the policy, having regard to the nature of his title
claim to the Authority. to the policy, could not have conferred any such beneficial title on the nominee.
Q>mBQ>b H$s àH¥${V Ho$ AZwgma Zm_m§{H$V H$mo Eogm bm^mWu Q>mB{Q>b àXmZ Zht H$a gH$Vm h¡&
(5) Subject to the provisions in sub-section (2), the transfer or assignment shall be (8) Subject as aforesaid, where the nominee, or if there are more nominees than one, a
(8) CnamoŠV H$ho JE Ho$ AYrZ, Ohm§ Zm{_V `m AJa EH$ go A{YH$ Zm{_V hm|, {OZ na Cn Ymam
complete and effectual upon the execution of such endorsement or instrument nominee or nominees, to whom sub-section (7) applies, die after the person whose
duly attested but except, where the transfer or assignment is in favour of the insurer, (7) bmJy hmoVr h¡, nm°{bgr Ûmam gwa{jV am{e Ho$ ^wJVmZ go nhbo, bo{H$Z Cg ì`pŠV {OgHo$ life is insured but before the amount secured by the policy is paid, the amount
shall not be operative as against an insurer, and shall not confer upon the OrdZ Ho$ ~r{_V {H$`m J`m h¡, Ho$ ~mX _a OmVm h¡ Vmo nm°{bgr Ûmam gwa{jV am{e `m _aZodmbo secured by the policy, or so much of the amount secured by the policy as
transferee or assignee, or his legal representative, any right to sue for the amount Zm{_V `m Zm{_Vm| O¡gr ^r pñW{V hmo Ho$ {hñgo H$m à{V{Z{YËd H$aZo dmbr nm°{bgr Ûmam gwa{jV represents the share of the nominee or nominees so dying (as the case may be),
of such policy or the moneys secured thereby until a notice in writing of the transfer shall be payable to the heirs or legal representatives of the nominee or nominees or
or assignment and either the said endorsement or instrument itself or a copy am{e H$m ^wJVmZ Zm{_V `m Zm{_Vm| Ho$ CÎmam{YH$m[a`m| `m H$mZyZr à{V{Z{Y`m| `m CÎmam{YH$ma the holder of a succession certificate, as the case may be, and they shall be
thereof certified to be correct by both transferor and transferee or their duly à_mUnÌ Ho$ YmaH$, O¡gr ^r pñW{V hmo, H$mo {H$`m OmEJm VWm do Eogr am{e H$mo nmZo Ho$ {bE beneficially entitled to such amount.
authorised agents have been delivered to the insurer: A{YH¥$V bm^mWu hm|Jo& (9) Nothing in sub-sections (7) and (8) shall operate to destroy or impede the right of
Provided that where the insurer maintains one or more places of business in India, (9) Cn-YmamAm| (7) Am¡a (8) _| Hw$N> ^r OrdZ ~r_m H$s {H$gr nm°{bgr H$s Am_X{Z`m| go {H$gr any creditor to be paid out of the proceeds of any policy of life insurance.
such notice shall be delivered only at the place where the policy is being serviced. CYmaXmVm Ho$ A{YH$ma H$mo Zï> `m g_mßV Zht H$aoJm& (10) The provisions of sub-sections (7) and (8) shall apply to all policies of life insurance
(6) The date on which the notice referred to in sub-section (5) is delivered to the insurer (10) Cn-YmamAm| (7) Am¡a (8) Ho$ àmdYmZ ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_ 2015 Ho$ Ama§^ hmoZo maturing for payment after the commencement of the Insurance Laws
shall regulate the priority of all claims under a transfer or assignment as between (Amendment) Act, 2015.
persons interested in the policy; and where there is more than one instrument of Ho$ ~mX ^wJVmZ Ho$ {bE n[anŠd hmoZo dmbr OrdZ ~r_m H$s g^r nm°{b{g`m| na bmJy hm|Jo&
(11) Where a policyholder dies after the maturity of the policy but the proceeds and
(11) Ohm§ nm°{bgrYmaH$ H$s _¥Ë`w nm°{bgr Ho$ n[anŠd hmoZo Ho$ ~mX hþB© hmo, bo{H$Z nm°{bgr H$s Am`
 Am¡a {hVbm^ H$m ^wJVmZ Cgo CgH$s _¥Ë`w Ho$ H$maU Z hþE hm|, Vmo CgHo$ Ûmam Zm{_V CgH$s
nm°{bgr Ho$ A§VJ©V Am_XZr Am¡a {hVbm^ H$mo nmZo H$m nmÌ hmoJm&
(12) Bg Ymam Ho$ àmdYmZ OrdZ ~r_m H$s Eogr {H$gr nm°{bgr na bmJy Zht hm|Jo, {Og na Ymam 6,
{ddm{hV ór gån{Îm A{Y{Z`_ 1874 bmJy hmoVm hmo `m H$^r bmJy {H$`m J`m hmo&
eV© `h h¡ {H$, Ohm§ ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ho$ Ama§^ hmoZo go nhbo ~r{_V
ì`pŠV Ho nËZr `m CgH$s nËZr VWm ~ÀMm| `m CZ_| go {H$gr Ho$ nj _| A{^ì`ŠV ê$n go
Zm_m§H$Z {H$`m J`m hmo, Mmho dh nm°{bgr na A§{H$V hmo `m Zht, O¡gm {H$ Bg Ymam Ho$ A§VJ©V
{H$`m J`m h¡, H${WV Ymam 6 nm°{bgr na bmJy Zht _mZr OmEJr `m bmJy Zht hmoJr&
n[a{eï> V
~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ûmam `Wmg§emo{YV ~r_m A{Y{Z`_, 1938 H$r
Ymam 45 Ho$ AZwgma
(1) OrdZ ~r_m H$s {H$gr nm°{bgr H$mo, nm°{bgr H$s {V{W go AWm©V nm°{bgr Ho$ Omar hmoZo H$s {V{W
`m Omo{I_ Ho$ Ama§^ hmoZo H$s {V{W go `m nm°{bgr Ho$ nwZ©MbZ H$s {V{W go `m nm°{bgr na amBS>a
H$s {V{W go VrZ dfm] H$s g_mpßV na, Omo ^r ~mX _| hmo, {H$gr ^r AmYma na àíZ Ho$ {bE ~wbm`m
Zht Om gH$Vm h¡&
(2) OrdZ ~r_m H$s {H$gr nm°{bgr H$mo, nm°{bgr Ho$ Omar hmoZo H$s {V{W `m Omo{I_ Ama§^ hmoZo H$s
{V{W `m nm°{bgr Ho$ nwZ©MbZ H$s {V{W go `m nm°{bgr Ho$ amBS>a H$s {V{W go VrZ dfm] Ho$ A§Xa
{H$gr ^r g_`, Omo ^r ~mX _| hmo, YmoIoY‹S>r Ho$ AmYma na àíZ Ho$ {bE ~wbm`m Om gH$Vm h¡&
eV© `h h¡ {H$ ~r_mH$Vm© Ûmam ~r_mYmaH$ H$mo `m ~r_mYmaH$ Ho$ H$mZyZr à{V{Z{Y `m Zm{_Vm| `m
g_ZwXo{eVm| H$mo {b{IV _| CZ AmYmam| VWm VÏ`m| Ho$ ~mao _| gy{MV H$aZm hmoJm, {OZHo$ AmYma
na `h \¡$gbm {b`m J`m h¡&
ñnï>rH$aU I: Bg Cn-Ymam Ho$ à`moOZ hoVw, "YmoIoY‹S>r" H$m AW© h¡ ~r_mYmaH$ `m CgHo$ EOoÝQ>
Ûmam ~r_mH$Vm© H$mo YmoIm XoZo `m ~r_mH$Vm© H$mo OrdZ ~r_m nm°{bgr Omar H$aZo Ho$ {bE à^m{dV
H$aZo Ho$ BamXo go {H$`m J`m {ZåZ{b{IV _| go H$moB© H$m`©:
A. gP w md, Omo {H$ VÏ` ê$n _| ghr Zht h¡ VWm {OgH$o gM hmZoo na ~r_mYmaH$ H$mo {dídmg Zht h;¡
~. ~r_mYmaH$ Ûmam {H$gr VÏ` H$mo {N>nmZm, Omo CgH$s OmZH$mar _| Wm `m CgH$s dmñV{dH$Vm
na Cgo {dídmg Wm;
g. YmoIoY‹S>r Ho$ BamXo go CR>m`m J`m H$moB© AÝ` H$X_; VWm
X. H$moB© AÝ` Eogm H$X_ `m ^yb-MyH$ {Ogo H$mZyZ {deof ê$n go YmoImY‹S>r _mZVm hmo&
ñnï>rH$aU II: ~r_mH$Vm© Ûmam Omo{I_ Ho$ AmH$bZ H$mo à^m{dV H$aZo dmbo VÏ`m| Ho$ ~mao _| {gµ\©$
Mwn ahZm YmoImY‹S>r Zht h¡, O~ VH$ {H$ _m_bo H$s n[apñW{V`m| Ho$ AZygma, ~r_mYmaH$ `m
CgHo$ EOoÝQ> H$m `h H$V©ì` h¡& ~mobZo go Mwn ahZm `m AÝ`Wm CgH$s Im_moer AnZo Amn _|
~mobZo Ho$ ~am~a hmo&
(3) CnYmam (2) _| Hw$N> ^r {Z{hV hmoZo Ho$ ~mdOyX, H$moB© ^r ~r_mH$Vm© {H$gr OrdZ ~r_m nm°{bgr H$mo
YmoIoY‹S>r Ho$ AmYma na AñdrH¥$V Zht H$a gH$Vm h¡, Aja ~r_mYmaH$/bm^mWu `h à_m{UV
H$a gHo$ {H$ CgHo$ Ûmam H$s JB© JbV~`mZr CgH$s A{YH$V_ OmZH$mar Ho$ AZwgma ghr Wr
Am¡a CgZo OmZ~yPH$a VÏ`m| H$mo {N>nmZo H$s H$mo{ee Zht H$s `m H${WV JbV~`mZr `m
_hÎdnyU© VÏ` H$mo {N>nm`m OmZm ~r_mH$Vm© H$s OmZH$mar _| Wm&
YmoIoY‹S>r Ho$ _m_bo _| Bgo JbV gm{~V H$aZo H$m Xm{`Ëd bm^m{W©`m| na h¡ Aja nm°{bgrYmaH$
Or{dV Zht h¡&
ñnï>rH$aU - H$moB© ì`pŠV Omo ~r_m H$s g§{dXm H$m AmJ«h Am¡a CgH$s gm¡Xo~mOr H$aVm h¡ Cgo
g§{dXm Ho$ à`moOZ Ho$ {bE ~r_mH$Vm© H$m EOoÝQ> _mZm OmEJm&
(4) OrdZ ~r_m H$s {H$gr nm°{bgr H$mo nm°{bgr Ho$ Omar H$aZo H$s {V{W go `m Omo{I_ Ho$ Ama§^ hmoZo
H$s {V{W go `m nm°{bgr Ho$ nwZ©MbZ H$s {V{W go `m nm°{bgr Ho$ amBS>a H$s {V{W go VrZ dfm] Ho$
A§Xa, Omo ^r ~mX _| hmo, {H$gr ^r g_`, Bg AmYma na àíZ Ho$ {bE ~wbm`m Om gH$Vm h¡ {H$
~r{_V ì`pŠV Ho$ OrdZH$mb go g§~§{YV {H$gr VÏ` H$mo àñVmd ànÌ _| `m
{H$gr AÝ` H$mJOmV _|, {OgHo$ AmYma na nm°{bgr Omar H$s JB© Wr `m nwZMm©{bV H$s JB© Wr `m
amBS>a Omar {H$`m J`m Wm, {N>nm`m J`m Wm `m JbV {XIm`m J`m Wm&
eV© `h h¡ {H$ ~r_mH$Vm© Ûmam ~r_mYmaH$ H$mo `m ~r_mYmaH$ Ho$ H$mZyZr à{V{Z{Y `m Zm_m§{H$V
ì`pŠV`m| `m g_ZwXo{eVm| H$mo {b{IV _| CZ AmYmam| VWm VÏ`m| Ho$ ~mao _| gy{MV H$aZm hmoJm,
{OZHo$ AmYma na OrdZ ~r_m H$mo nm°{bgr H$mo AñdrH¥$V H$aZo H$m `h \¡$gbm {b`m J`m h¡&
AmJo eV© `h h¡ {H$ _hÎdnyU© VÏ` H$s JbV~`mZr `m {N>nmE OmZo Ho$ AmYma na nm°{bgr H$mo
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Zm{_Vm| `m g_ZwXo{eVm| H$mo Eogr AñdrH¥${V H$s {V{W go Zã~o {XZm| Ho$ A§Xa H$a {X`m OmEJm&
ñnï>rH$aU - Bg Cn-Ymam Ho$ à`moOZ hoVw, {H$gr VÏ` H$s JbV~`mZr `m {N>nmE OmZo H$mo V~
VH$ _hÎdnyU© Zht _mZm OmEJm, O~ VH$ {H$ CgH$m ~r_mH$Vm© Ûmam ñdrH$ma {H$E JE Omo{I_
na H$moB© àË`j à^md Z hmo, `h à_m{UV H$aZo H$m Xm{`Ëd ~r_mH$Vm© H$m hmoJm {H$ Aja
~r_mH$Vm© H$mo ñWm{nV VÏ` H$s OmZH$mar hmoVr Vmo dh ~r_mYmaH$ H$mo `h OrdZ ~r_m nm°{bgr
Omar Zht H$aVm&
(5) Bg Ymam _| {Z{hV Hw$N> ^r ~r_mH$Vm© H$mo {H$gr ^r g_` C_« H$m à_mU _m§JZo go Zht amoH$Vr h¡,
AJa dh BgHo$ {bE A{YH¥$V h¡ VWm {H$gr nm°{bgr H$s {gµ\©$ Bg{bE àíZ Ho$ {bE ~wbm`m Zht
Om gH$Vm h¡ Š`mo§{H$ àñVmd _| JbV CëboI H$s JB© ~r{_V ì`pŠV H$s C_« H$mo g~yV Ho$ AmYma
na ~mX _| g_m`mo{OV {H$`m J`m Wm&
benefit of his policy has not been made to him because of his death, in such a case,
his nominee shall be entitled to the proceeds and benefit of his policy.
(12) The provisions of this section shall not apply to any policy of life insurance to which
section 6 of the Married Women's Property Act, 1874, applies or has at any time
applied;
Provided that where a nomination made whether before or after the
commencement of the Insurance Laws (Amendment) Act, 2015, in favour of the
wife of the person who has insured his life or of his wife and children or any of them
is expressed, whether or not on the face of the policy, as being made under this
section, the said section 6 shall be deemed not to apply or not to have applied to
the policy.
Annexure - V
Section 45 as per the Insurance Act 1938, as amended by the Insurance Laws
(Amendment) Act, 2015
(1) No policy of life insurance shall be called in question on any ground whatsoever
after the expiry of three years from the date of the policy, i.e. from the date of
issuance of the policy or the date of commencement of risk
or the date of revival of the policy or the date of the rider to the policy,
whichever is later.
(2) A policy of life insurance may be called in question at any time within three years
from the date of issuance of the policy or the date of commencement of risk or the
date of revival of the policy or the date of the rider to the policy, whichever is later on
the ground of fraud:
Provided that the insurer shall have to communicate in writing to the insured or the
legal representatives or nominees or assignees of the insured the grounds and
materials on which such decision is based.
Explanation I- For the purposes of this sub-section, the expression “fraud” means
any of the following acts committed by the insured or by his agent, with the intent to
deceive the insurer or to induce the insurer to issue a life insurance policy:-
(a) the suggestion, as a fact of that which is not true and which the insured does not
believe to be true;
(b) the active concealment of a fact by the insured having knowledge or belief of the
fact;
(c) any other act fitted to deceive; and
(d) any such act or omission as the law specially declares to be fraudulent.
Explanation II- Mere silence as to facts likely to affect the assessment of the risk by
the insurer is not fraud, unless the circumstances of the case are such that regard
being had to them, it is the duty of the insured or his agent, keeping silence to
speak, or unless his silence is, in itself, equivalent to speak.
(3) Notwithstanding anything contained in subsection (2), no insurer shall repudiate a
life insurance policy on the ground of fraud if the insured can prove that the
misstatement of or suppression of a material fact was true to the best of his
knowledge and belief or that there was no deliberate intention to suppress the fact
or that such misstatement of or suppression of a material fact are within the
knowledge of the insurer:
Provided that in case of fraud, the onus of disproving lies upon the beneficiaries, in
case the policyholder is not alive.
Explanation – A person who solicits and negotiates a contract of insurance shall be
deemed for the purpose of the formation of the contract, to be the agent of the
insurer.
(4) A policy of life insurance may be called in question at any time within three years
from the date of issuance of the policy or the date of commencement of risk or the
date of revival of the policy or the date of the rider to the policy, whichever is later, on
the ground that any statement of or suppression of a fact material to the
expectancy of the life of the insured was incorrectly made in the proposal or other
document on the basis of which the policy was issued or revived or rider issued:
Provided that the insurer shall have to communicate in writing to the insured or the
legal representatives or nominees or assignees of the insured the grounds and
materials on which such decision to repudiate the policy of life insurance is based:
Provided further that in case of repudiation of the policy on the ground of
misstatement or suppression of a material fact, and not on the ground of fraud the
premiums collected on the policy till the date of repudiation shall be paid to the
insured or the legal representatives or nominees or assignees of the insured within
a period of ninety days from the date of such repudiation.
Explanation - For the purposes of this sub-section, the misstatement of or
suppression of fact shall not be considered material unless it has a direct bearing
on the risk undertaken by the insurer, the onus is on the insurer to show that had the
insurer been aware of the said fact no life insurance policy would have been issued
to the insured.
(5) Nothing in this section shall prevent the insurer from calling for proof of age at any
time if he is entitled to do so, and no policy shall be deemed to be called in question
merely because the terms of the policy are adjusted on subsequent proof that
the age of the life insured was incorrectly stated in the proposal.