1. As per Regulation 3(d), IRDA (Manner of Receipt of Premium) Regulations, 2002, in case, the proposer/policy holder opts for premium payment through credit/debit card, the payment must be made only through credit/debit card issued on the name of such proposer/policyholder
2. Receipting of premium payments received between 8:00 AM - 3:00 PM (IST), Monday - Friday would be done on the same day. If the payment is received after 3:00 PM (IST), the receipting would be done on the next working day.
3. For ULIPs, the NAV will be considered as of the date of premium payment or premium due date (whichever is later).
4. Please note that the online payment through the Payment Gateway is not from the ICICI Prudential server and that you are going to a non-ICICI Prudential site. ICICI Prudential is not responsible for, shall have no liability for and disclaims all warranties whatsoever, expressed or implied, related to the site, including without limitation any warranties related to performance, security, stability, or non-infringement of title of the site (including site content) or any controls downloaded from the site.
5. Tax benefits under the policy are subject to conditions under Sec.80C, 80D and Sec 10(10D) of the Income Tax Act, 1961. Goods and Services Tax and cess (if any) will be charged extra as per the prevailing tax rates. Tax laws are subject to amendments from time to time.
6. I authorized the above mentioned card issuing bank / PG to debit my CC/DC/UPI/Net-banking Account as primary or secondary account, whichever is applicable, if my standing instruction is active and until I give a written request for cancellation..
7. I hereby authorize ICICI Prudential Life Insurance Company Ltd., to enable the standing instruction facility for my premium payments and in the instance of transaction dishonor, to re-debit my account with the mentioned bank to recover the premium payable.
8. In the future, if I opt out of ACH/ Direct Debit mode/Standing Instruction there may be an increase in premium amount.
9. I hereby understand, that I can choose to detach the ACH/Direct Debit Mandate/ Standing Instruction for my primary and/or secondary bank account(s). Unless specifically mentioned otherwise, the Company upon receipt of a detachment request, shall detach the ACH/Direct Debit Mandate/ Standing Instruction from both my primary and secondary accounts. I further understand that detachment of ACH/ Direct Debit mode/ Standing Instruction may result in increase in premium amount.
10. I understand and agree that the submission of this form does not mean that the request will be processed. I understand that any payout under the policy shall be strictly in accordance with the policy terms and conditions. Also any payment shall be subject to realization of the last renewal premium payment.
11. I also understand and agree that the Company reserves the right to use any alternative payout option.
12. One day claim settlement is applicable only if total claim amount of all the policies is less than or equal to 1.5 crores. Day 1 is counted from the day of receiving the last document. All due premiums in the policy must have been paid and the policy must have been active for a continuous period of 3 years. Mandatory document to be submitted at Branch Office before 3pm on a working day- Original policy certificate, copy of death certificate by local authority, Nominee’s current address proof, photo identity proof, Cancelled cheque, Copy of bank passbook, Copy of medico legal cause of death, Medical records (Admission notes, Discharge / Death summary, Test reports, etc.). For accidental death – Copy of FIR, Panchanama, Inquest report, Driving license. Interest will be paid on claim amount for every day of delay beyond 1 working day. Applicable only for non-investigative death claims. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. In case of breach in regulatory turnaround time, interest will be paid as per IRDAI regulations.
13. One day claim settlement is applicable only if total claim amount of all the policies is less than or equal to 1.5 crores. Day 1 is counted from the day of receiving the last document. All due premiums in the policy must have been paid and the policy must have been active for a continuous period of 3 years. Mandatory document to be submitted at Branch Office before 3pm on a working day- Original policy certificate, copy of death certificate by local authority, Nominee’s current address proof, photo identity proof, Cancelled cheque, Copy of bank passbook, Copy of medico legal cause of death, Medical records (Admission notes, Discharge / Death summary, Test reports, etc.). For accidental death – Copy of FIR, Panchanama, Inquest report, Driving license. Interest will be paid on claim amount for every day of delay beyond 1 working day. Applicable only for non-investigative death claims. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. In case of breach in regulatory turnaround time, interest will be paid as per IRDAI regulations.