Plan at a glance - Eligibility criteria to buy the product

¹The premiums that you will pay will vary depending upon the income option chosen by you.

• Income will be payable in arrears/ at the end of every month, quarter, half-year or year, after completion of the deferment period, as chosen by you at the time of purchasing the income. The income amount chosen at policy inception is guaranteed for life.
  Example: If your last annual premium is paid on Jan 15, 2031, and your deferment period ends on Jan 15, 2032, then income is payable from - For Annual mode: Jan 15, 2033; For Half-yearly mode: July 15, 2032; For Quarterly mode: April 15, 2032; For Monthly mode: Feb 15, 2032
• Guaranteed Additions: From the time you start paying your premiums till the completion of deferment period, a benefit known as Guaranteed Additions will accrue to your policy. Guaranteed Additions accrue at the end of each policy month during the deferment period only, provided all due premiums have been paid. Accrued GA are payable only as a part of death benefit, whenever applicable.
• Total Premiums Paid means the total of all the premiums (including any top-ups) paid under the base product, excluding any extra premium and taxes, if collected explicitly

Other benefits

1. High Premium Benefit: Benefits in the form of additional income as a percentage of the annuity rates would be paid for Higher Premiums as specified below:
   

   Deferment Period	Annual Premium
   	50,000	>=50,000 & <1,00,000	>=1,00,000 & <2,00,000	>=2,00,000 & <3,00,000	>=3,00,000 & <5,00,000	>=5,00,000
   Up to 7 years	0%	1.50%	3.50%	4.25%	4.50%	4.70%
   8 to 10 years	0%	3.75%	5.50%	6.00%	6.25%	6.45%
   11 to 15 years	0%	6.25%	7.50%	8.00%	8.25%	8.50%

2. Waiver of Premium benefit:
   
   • You can opt for waiver of premium benefit with Joint Life options – Joint Life with Return of Premium, Joint Life without Return of Premium & Increasing Income for Joint Life with Return of Premium.
   • On death of the Primary Pensioner during the premium payment term, the future premiums will be waived off and the applicable benefits will continue to be paid to the Secondary Pensioner.
   • On selection of waiver of premium benefit, separate annuity rates for Joint Life options will be applicable.
   • This benefit will be applicable only in case of death of Primary Pensioner while the policy is in-force and premium paying.
3. Top-up to receive higher income:
   
   • You can increase your income at any time by paying an additional premium (top-up premium). There’s no restriction on the premium amount you need to pay to avail a top-up
   • The additional income payable will be calculated as per the then prevailing annuity rates and age of the pensioner at the time of payment of additional premium
   • This option can be chosen anytime during the deferment period only and while the policy is in-force and all due premiums have been paid
   • The prevailing annuity rates would be derived so as to match the timing of the top-up income payout with base income. For example, if you opt for 10 year deferment period and opt for top-up after 2.5 years, prevailing annuity rates for deferment period of 7 years and 8 years would be used to derive the annuity rate for 7.5 years
   • The top-up premium divided by premium payment term will be added to the original premiums paid for the purpose of giving the pensioner the benefit of ‘High Premium Benefit’. The minimum income amount shall not be applicable for top up
   • Guaranteed additions will also apply on top-up
   • Top-up premium will be considered for benefit payable on Death, CI/PD or Surrender, as applicable. Benefit payable on Death, CI/PD or Surrender would be calculated separately for the original premiums paid and top-up premium paid as per their respective policy years and the sum total would be paid out
   • The prevailing annuity rate for revised annual premium price slab will be applicable only for the additional premium paid. The original income amount shall remain unchanged
   • The minimum income amount shall not be applicable for top-up income. The option to top-up the income amount shall not be allowed for paid-up policies
4. Save the date feature:At the time of buying the policy, you can choose to receive the income on any one date, to coincide with any special date.
   

   Please Note:

   • This option needs to be selected at policy inception or before the first income payment
   • The date chosen should be succeeding the due date of the first income payment
   • The income payable from the special date will be increased for the period between the due date of first income payment and the revised date selected, at an interest rate of 3.00% p.a. compounded monthly. The basis for increasing the income amount due to selection of a specified date to receive income will be reviewed from time to time and may be revised subject to the prior approval of the IRDAI
5. Death Benefit payout options:The product gives the Pensioner / Claimant the flexibility to take Death Benefit in a way that meets your family’s financial requirements even in your absence
   

   The pensioner(s) shall have to choose one of the following options for the payment of the death benefit to the Claimant(s). The death claim amount shall then be paid to the Claimant as per the option exercised by the pensioner(s) at the proposal stage or by the Claimant at the time of registration of death claim

   • Lump sum: Under this option, Death Benefit shall be payable to the Claimant(s) as a Lump sum. In case no other option is selected at policy inception or by the time of registration of claim, this shall be the default option of payment of death benefit
   • Income for a fixed period: Under this option, Death benefit shall become payable to the Claimant in form of structured regular income over a period of 5 years as per choices given below:
     1. Payment frequency: The income shall be paid in advance, which can be in either yearly, half-yearly, quarterly, or monthly mode.
     2. Proportion of death benefit: This option can be opted for full, or part (< 100%) of Death Benefit payable under the policy. In case only part of the death benefit is chosen to be taken as income, the balance amount will be paid in lump sum at the time of acceptance of the claim.

   The amount of income shall be calculated such that the present value of instalments, computed as on date of intimation of death using a given discount rate, shall equal the amount of death benefit chosen to be taken as income under the policy. Such instalment amount shall be a level amount and once chosen shall remain fixed over the income payout period.

   At any time during the income payment phase, the Claimant can choose to terminate the income payment in exchange for a lump-sum, in which case, the lump-sum payable shall be equal to the discounted value of all the future instalments due. The interest rate used to calculate the discounted value will be that, as applicable on date of termination as per the Company policies.

6. Special Withdrawal:We understand that you may need access to funds in times of need.
   

   This feature give you the flexibility to withdraw up to 60% of the total premiums paid less the amount withdrawn (if any) as Special Withdrawals over the lifetime of this policy and keep the income payments ongoing. The withdrawal amount will be paid as a lump sum in return for a reduction in future income payments and other benefits payable under the policy.

   This feature is available under the following annuity options:

   1. Single Life with Return of Premium
   2. Joint Life with Return of Premium
   3. Single Life with Return of Premium on Critical illness (CI) or Permanent Disability due to accident (PD) or Death

   Please note:

   • The maximum withdrawal permitted at any time shall not exceed 60% of Total Premiums Paid as on date of request, less the amount previously withdrawn (if any) as Special withdrawals
   • The number of times you will be permitted to make part withdrawals over the policy term is limited to 3

   For more details on the terms and conditions applicable under this feature, refer to clause of 12 of “Terms and conditions”.

7. Policy loan: Loan is available for all options except Single Life without Return of Premium & Joint Life without Return of Premium.
   
   1. Under Joint Life with Return of Premium option, the Loan can be availed by the Primary Pensioner and on death of the Primary Pensioner, it can be availed by the Secondary pensioner.
   2. During the deferment period, loan can be availed for any purpose.
   3. Post deferment period, loan can be availed only in case of health related ailments for the pensioner(s) or family members. The health ailments may be verified by a medical certificate issued by a certified medical professional or through alternate suitable documentation.
   4. For other than in-force and fully paid Policies, if the outstanding loan amount including interest exceeds the surrender value, the Policy will be foreclosed after giving intimation and reasonable opportunity to the Policyholder to continue the Policy. The pensioner shall be given due intimation/ notice prior to the policy foreclosure as a reasonable opportunity for continuing the policy. On Foreclosure, the Policy will terminate, and all rights, benefits and interests under the policy will stand extinguished.
   5. For inforce and/ or fully paid-up policies, the policy can't be foreclosed on the ground of outstanding loan amount including interest exceeding the surrender value .
   6. For availing this feature of Loan the policy shall be assigned to the Company.
   7. In the event of failure to repay the outstanding loan amount with interest by the required date, the Policy will terminate, and all rights, benefits and interests under the policy will stand extinguished. An in-force and fully paid Policy will not be foreclosed.
   8. For loans availed during the deferment period:
      1. Loan amount of up to 60% of the Surrender Value can be availed.
      2. Applicable interest rate will be equal to 1.5% plus prevailing yield on 10 year Government Securities. The yield on 10-year Government Securities will be sourced from www.bloomberg.com. The applicable loan interest rate in November 2024 is 8.36% p.a. compounded half-yearly.
      3. The quantum of loan availed with all due interest would be required to be repaid before the end of the deferment period. In case of death or surrender of the Policy during the Deferment Period, Loan outstanding together with the interest thereon if any will be deducted and the balance amount will be payable.
      4. If loan along with due interest is not repaid by the end of the deferment period, the excess of Total Premiums Paid over the loan amount and accrued interest will be used to calculate the revised premium & income. The revised premium is calculated as Total Premiums Paid less Loan amount outstanding with due interest at the end of deferment period. This revised premium and income will be used for the calculation of future benefits and special withdrawal feature after the Deferment Period.
      5. In order to calculate the revised income, the annuity rate applicable to the policy at the time of issuance/ change in income frequency will be used. The revised annuity is calculated as revised premium x original
      6. Where policyholder has paid top-up premium in the policy, the revised premium will be split into base premium and top-up premium in the same ratio as Total Premiums Paid (excluding top-up premium) to top-up premium. The annuity rate applicable to base and top-up premium will be applied to the respective split premiums in order to arrive at the revised income.
      7. If the revised income amount calculated as above is less than the minimum income allowed under the product, then the surrender value less the outstanding loan amount less any accrued interest will be paid as a lump sum and the policy will be terminated
      8. The loan interest rate will be reviewed on the 15th day of every month by the company based on the 10-year G-Sec yield of one day prior to such review.
   9. For loans availed after the deferment period citing health related ailments:
      1. Maximum amount of loan that can be granted after the deferment period shall be such that the effective annual interest amount payable on loan does not exceed 50% of the annual income amount payable under the policy.
      2. The loan amount cannot exceed 60% of the Surrender Value at the time of granting of loan.
      3. The interest on loan shall be 2.00% in addition to yield on 10 year Government Securities as at 15^th April of the relevant financial year (preceding working day in case 15^th April is not a working day) and shall be applicable for all loans granted during the period of twelve months beginning 1^st May of the relevant financial year. The yield on 10 year Government Securities will be sourced from www.bloomberg.com. The applicable loan interest rate in April 2024 is 9.18% p.a. compounded half-yearly.
      4. The loan interest will be recovered from the Income Amount payable under the Policy. The loan interest will accrue as per the Frequency of Income Payment under the Policy and it will be due on the date of annuity.
      5. In case of death or surrender of the Policy, loan outstanding together with the outstanding interest thereon, if any, will be deducted and the balance amount will be payable.
      6. However, the pensioner has the flexibility to repay the loan principal and outstanding interest, if any, at any time during the remaining course of the Policy.
   10. The basis for computing loan interest will be reviewed from time to time and may be revised subject to the prior approval of the IRDAI.
8. What happens if you stop paying your premiums?
   

   It is recommended that you pay all premiums for the period selected to be able to enjoy all policy benefits. However, at any stage if you stop paying premiums the following shall be applicable:

   1. If you stop paying premiums before at least one full years’ premium is paid, the policy will lapse on expiry of grace period. If you do not revive the lapsed policy by the end of revival period, it will terminate.
   2. If you stop paying premiums after you have paid premiums for at least one full year, your policy is said to have become “paid-up”. A paid-up policy is one where you are entitled to get benefits, but the benefits will be lower than full benefits, since you would have paid lesser than the total premiums supposed to be paid. Please read the section on Revival of policy, which specifies how one can pay due premiums and revive the benefits of the policy.
   3. Income amount in a paid-up policy
      1. In a Paid-up policy, the income amount you will receive will be equal to the ratio of number of premiums paid to the number of premiums payable by you during the premium payment term.
      2. Paid-up income amount can be calculated as follows: Original income amount X {number of months for which premiums are paid / (12 X Premium Payment Term)}
      3. The paid-up income amount increases every year at a rate of 5% p.a. of the paid-up income amount payable in the first year after completion of deferment period for Increasing annuity for Single Life with Return of Premium and Increasing income for Joint Life with return of premium. The first increase is made in the second year after completion of deferment period.
   4. If the Paid-up annuity amount calculated as above (along with any top-up income amount) is less than the minimum annuity of ₹ 250 per month (₹ 3,000 per annum), the policy will cease and a surrender value will be paid to you as a lump sum at the end of the revival period of 5 years from the due date of first unpaid premium.
   5. If any top-up premium has been paid under the Policy, the benefits with respect to the top-up premium will remain unchanged. The total income amount payable under the Policy will be paid-up income amount plus income amount with respect to the top-up premium.
   6. The Policy will continue with the Guaranteed Additions accrued till the date the policy acquires Paid-up status. No further Guaranteed Additions shall be applicable thereafter.
   7. The Death Benefit in a paid-up policy during deferment period shall be higher of the following:
      1. Total Premiums Paid + Accrued Guaranteed Additions, till the date of first unpaid Premium
      2. 105% of Total Premiums Paid
   8. The Death Benefit in a paid-up policy after the deferment period shall be higher of the following:
      1. Total Premiums Paid plus accrued Guaranteed Additions, till the date of first unpaid Premium less total income paid out till the date of intimation of death
      2. Total Premiums Paid
   9. The Death Benefit in a paid-up policy after the deferment period is payable for all income options except for Single Life Without Return of Premium and Joint Life without Return of Premium.
   10. Income paid out after date of intimation of death will be adjusted from the Death Benefit and the net amount will be paid to the claimant .On payment of Paid-up Death Benefit, the policy will terminate and all rights, benefits and interests under the policy will stand extinguished.
   11. In case benefit is payable on occurrence of specified CI or PD, the amount of benefit will be same as paid-up Death Benefit as defined in point viii) above.
   12. On revival of a lapsed or paid-up policy, the benefits under the policy which prevailed before the date of lapse or paid-up will be reinstated.
   13. In addition, on revival of a paid-up policy, the difference between the paid-up benefits already paid out during the revival period and the original benefits payable will also be paid to the policyholder.
9. Policy revival:
   

   You can revive your policy benefits for their full value within five years from the due date of the first unpaid premium by paying all due premiums together with interest.

   1. Revival will be based on prevailing Board Approved Underwriting Policy.
   2. Revival interest rate will be equal to 1.50% plus the prevailing yield on 10 year Government Securities. The yield on 10 year Government Securities will be sourced from www.bloomberg.com. The revival interest rate for November 2024 is 8.36% p.a. compounded half-yearly.
   3. The revival interest rate will be reviewed on the 15th day of every month by the company based on the 10-year G-Sec yield of one day prior to such review.
   4. On revival of a lapsed or paid-up policy, the benefits under the policy which prevailed before the date of lapse or paid-up will be reinstated.
   5. In addition, on revival of a paid-up policy, the difference between the paid-up benefits already paid out during the revival period and the original benefits payable will also be paid to the pensioner.
      The revival of the policy may be on terms different from those applicable to the policy before premiums were discontinued. The revival will take effect only if it is specifically communicated by the Company to the Policyholder. The Company reserves the right to refuse to revive the policy.
      Any change in revival conditions will be subject to prior approval from IRDAI and will be disclosed to Policyholders.
10. Surrender:
    

    It is recommended that you continue with your policy to avail all benefits

    However, the policyholder can surrender the policy any time after payment of at least one full policy year’s premium(s). Prior to receipt of one full years’ premium, no surrender value is payable.

    For all options, in case of surrender during deferment period, the Surrender value would be higher of Guaranteed Surrender value (GSV) and Special Surrender Value (SSV).

    For the following options, no surrender value will be payable after the Deferment Period:

    1. Single life without Return of Premium
    2. Joint Life without Return of Premium

    For the following income options, in case of surrender after the deferment period, the Surrender Value would be equal to the Special Surrender Value (SSV):

    1. Single Life with Return of Premium
    2. Joint Life with Return of Premium
    3. Single Life with Return of Premium on Critical illness (CI) or Permanent Disability due to accident (PD) or Death
    4. Increasing income for Single Life with Return of Premium
    5. Increasing income for Joint Life with Return of Premium

    GSV will be calculated as follows,

    GSV = (GSV factor for regular premium X Total premiums paid excluding top-up premium) + (GSV factor for top-up premium X Top-up premium paid)

    For details on GSV factors, please refer clause 9 under Terms & conditions below.

    For more details on Surrender, please refer the policy document.

    In case Benefit Enhancer/ Worksite Booster is applicable to the Policy, an enhanced benefit is payable on Surrender, as mentioned in point 15 of “Terms and conditions”.

    The final Surrender Value shall not exceed the amount of Death Benefit payable under the chosen plan option.

    On payment of Surrender Value, the Policy will terminate and all rights, benefits and interests under the Policy will stand extinguished.

Terms and conditions

1. Suicide clause: During the deferment period, in case of death of the pensioner or death of the last survivor in a Joint Life policy is due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the Claimant shall be entitled to at least 80% of the Total Premiums Paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force. The policy will terminate on making such a payment and all rights, benefits and interests under the policy will stand extinguished.
   

   In case of death due to suicide after the deferment period, the above suicide clause is not applicable and Death Benefit as per the option chosen will be applicable.

2. Exclusions, if any (e.g. Occupational Hazard, Travel): There is no exclusion other than Suicide clause for the Death Benefit. No waiting period/ pre-existing condition will apply for Death Benefit or benefit payable on occurrence of CI/PD.
3. Free look period: On receipt of the policy document, whether received electronically or otherwise, you have an option to review the policy terms and conditions. If you are not satisfied or have any disagreement with the terms and conditions of the policy or otherwise and have not made any claim, the policy document needs to be returned to the Company with reasons for cancellation of the policy within 30 days from the date of receipt of the policy document.
   

   On cancellation of the Policy during the free-look period the treatment will be as below:

   1. Policies purchased out of proceeds of a deferred pension plan/ group superannuation plan: Premiums paid less stamp duty paid under the policy and expenses borne by the Company on medical examination if any, will be transferred back to the originating source. In this scenario premium will not be refunded to you.
   2. Policies purchased out of National Pension Scheme proceeds: Premiums paid less stamp duty paid under the policy and expenses borne by the Company on medical examination if any, will be transferred back to the Central Record keeping Agency (CRA) account from where the money was received, In this scenario premium will not be refunded to you.
   3. For other policies: The Company will return the premiums paid after deduction of stamp duty paid under the policy and expenses borne by the Company on medical examination, if any under the policy to you.The policy shall terminate on payment of the said amount and all rights, benefits and interests under this policy will stand extinguished.
4. Policy Alterations: The income option, premium payment term, and the deferment period once opted cannot be changed after the free-look period. You can change the frequency of income payment on policy anniversary. Change in premium payment frequency is allowed during the Premium Payment Term, but only on policy anniversary.
5. Grace Period: If the policyholder is unable to pay an installment premium by the due date, a grace period of 15 days will be given for payment of due installment premium for monthly frequency, and 30 days will be given for payment of due installment premium for any other frequency. The risk cover continues during the grace period. In case of death of the pensioner during the grace period, the Company will pay the applicable Death Benefit without recovery of outstanding premium payable.
   

   If the premium is not paid within the grace period, the policy shall lapse and cover will cease in case the policy hasn’t acquired a reduced paid-up status.

6. All ages mentioned above are calculated as 'age as on last birthday’.
7. Modal loading applicable at policy issuances
   

   For monthly and half-yearly modes of premium payments chosen at policy inception, the following additional loadings, expressed as a percentage of the annual premium, will be applicable:

   Mode	Loading (% of annual premium)
   Half-yearly	2.5%
   Monthly	4.5%
   Yearly	Nil

   In case of change in premium payment mode, the annuity amount will remain unchanged.

8. For income payment modes other than monthly, the following factors would be applicable

   Income Frequency	Conversion Factors	Income Instalment (per frequency)
   Annual	103%	Conversion factor x Monthly annuity x 12
   Half-yearly	102%	Conversion factor x Monthly annuity x 6
   Quarterly	101%	Conversion factor x Monthly annuity x 3

9. GSV factor:GSV factors for regular premium:
   

   Policy Year	GSV Factors for deferment period less than 10 years
   	5 years	6 years	7 years	8 years	9 years
   1	15%	15%	15%	15%	15%
   2	30%	30%	30%	30%	30%
   3	35%	35%	35%	35%	35%
   4	90%	50%	50%	50%	50%
   5	90%	50%	50%	50%	50%
   6	-	90%	90%	50%	50%
   7	-	-	90%	90%	50%
   8	-	-	-	90%	90%
   9	-	-	-	-	90%

   Policy Year	GSV Factors for deferment period 10 years and above
   1	15%
   2	30%
   3	35%
   4	50%
   5	50%
   6	50%
   7	50%
   8 to (Deferment Period less 2)	50% + 40% x (Policy Year – 7) ÷ (Deferment Period – 8)
   (Deferment Period less 1) to Deferment Period	90%

   Where, Policy Year means a period of 12 months commencing from the policy commencement date and every policy anniversary thereafter.

   GSV factors for top-up premium:

   Duration (in years) at the time of surrender from the date of receiving top-up premium	GSV factor
   1	75%
   2	75%
   3	75%
   4 onwards	90%

   The duration will be measured from the date of each Top-up premium separately.

10. Special Withdrawal: The terms and conditions applicable under this feature are as below:
    
    • For fully paid-up policies, this option can be exercised after the end of the deferment period. For other than fully paid-up policies, this option can be exercised after the end of the deferment period or after completion of revival period from the due date of the first unpaid premium, whichever is later. For a lapsed policy, this feature is not applicable
    • This feature can be exercised provided there is no outstanding loan amount
    • In case of death of any of the pensioners under the Joint Life with Return of Premium option, the surviving pensioner can exercise this option at the time of intimation of death of the deceased pensioner as well
    • The minimum amount of lumpsum withdrawal will be ₹ 5,000 at the time of each exercise
    • On every exercise of this feature, the income amount, death benefit, terminal benefit and other benefits (other than surrender value) shall be revised with effect from the date of withdrawal i.e. if W is the withdrawal amount, then the revised income amount, death benefit, terminal benefit and other benefits (other than surrender value) shall be reduced to (100 – x)% of the current amount payable under the base policy (before withdrawal), where x = W / Surrender Value as applicable on the date of withdrawal ^* 100. Exercise of this option shall be allowed subject to revised income payments not falling below the minimum income as defined in clause 5 of Schedule I of IRDAI (Insurance Product) Regulations, 2024, as amended from time to time
    • Surrender value post exercise of special withdrawal feature will be based on the revised income amount
11. Tax Benefits: Tax benefits may be available as per the prevailing Tax laws. We recommend that you seek professional advice for applicability of tax benefit on premium paid and benefits received.
    

    Taxes: Goods and Services tax and applicable cesses, if any will be charged extra, as per applicable rates. The tax laws are subject to amendments from time to time

12. The product is also available for sale through online mode.
13. Benefit Enhancer: An additional 0.50% annuity amount will be paid, for as long as income is payable, for eligible policies purchased through ISNP (Insurance Self Network Platform) either owned by the Company or permitted intermediary. Additionally, an enhanced benefit will be offered on surrender anytime from date of commencement of policy to the end of the Deferment Period for eligible policies purchased through ISNP (Insurance Self Network Platform) either owned by the Company or permitted intermediary. This amount payable will be the surrender value as described above under the section “Surrender”, subject to minimum of 100% of Total Premiums Paid till the date of surrender.
    
    • Worksite Booster: An additional income of 0.50% will be offered for policies sourced through a worksite. Worksite sourcing is where policies are sourced in bulk through campaigns, stall or help desk, or similar engagement activities conducted for a group. Since the sourcing will happen in bulk, there will be savings in terms of sales effort and therefore cost. The savings in sales-related expenses is being passed on to the customer. Additionally, an enhanced benefit will be offered on surrender anytime from date of commencement of policy to the end of the Deferment Period. This amount payable will be the surrender value as described above under the section “Surrender”, subject to minimum of 100% of Total Premiums Paid till the date of surrender.
14. Nomination: Nomination shall be as per Section 39 of the Insurance Act, 1938 as amended from time to time. For more details on this section, please refer to our website.
15. Assignment: Assignment shall be as per Section 38 of the Insurance Act, 1938 as amended from time to time. For more details on this section, please refer to our website.
16. Section 41: In accordance with Section 41 of the Insurance Act, 1938 as amended from time to time, no person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

    Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to ten lakh rupees.

17. Section 45: Policy shall not be called into question on the ground of misstatement after three years in accordance with Section 45 of the Insurance Act, 1938 as amended from time to time.
    

    In case of fraud or misstatement, the policyshall be cancelled immediately by paying the surrender value, subject to the fraud or misstatement being established by the Company in accordance with Section 45 of the Insurance Act, 1938 as amended from time to time.

18. For further details, please refer to the policy document and the benefit illustration.

Policy Servicing and Grievance Handling Mechanism

For any clarification or assistance, You may contact Our advisor or call Our customer service representative (between 10.00 a.m. to 7.00 p.m, Monday to Saturday; excluding national holidays) on the numbers mentioned on the reverse of the Policy folder or on Our website: www.iciciprulife.com. For updated contact details, We request You to regularly check Our website. If You do not receive any resolution from Us or if You are not satisfied with Our resolution, You may get in touch with Our designated grievance redressal officer (GRO) at gro@iciciprulife.com or 1800-2660.

Address: ICICI Prudential Life Insurance Company Limited, Ground Floor & Upper Basement, Unit No. 1A & 2A, Raheja, Tipco Plaza Rani Sati Marg, Malad (East) Mumbai-400097.

For more details, please refer to the “Grievance Redressal” section on www.iciciprulife.com. If You do not receive any resolution or if You are not satisfied with the resolution provided by the GRO, You may escalate the matter to Our internal grievance redressal committee at the address mentioned below:

ICICI Prudential Life Insurance Co. Ltd., Ground Floor & Upper Basement Unit No. 1A & 2A, Raheja Tipco Plaza, Rani Sati Marg, Malad (East), Mumbai- 40009, Maharashtra.

If you are not satisfied with the response or do not receive a response from us within 15 days, you may approach Policyholders’ Protection and Grievance Redressal Department, the Grievance Cell of the Insurance Regulatory and Development Authority of India (IRDAI) on the following contact details:

IRDAI Grievance Call Centre (BIMA BHAROSA SHIKAYAT NIVARAN KENDRA): 155255 (or) 1800 4254 732

Email ID: complaints@irdai.gov.in

Address for communication for complaints by fax/paper:

Policyholders’ Protection and Grievance Redressal Department – Grievance Redressal Cell, Insurance Regulatory and Development Authority of India, Survey No. 115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad, Telangana State – 500032.

You can also register your complaint online at bimabharosa.irdai.gov.in.

This is subject to change from time to time.

Refer https://www.iciciprulife.com/services/grievance-redressal.html for more details.

Appendix A

The CIs covered under income option of Single Life income with return of premium on Critical Illness (CI) or Permanent Disability due to accident (PD) and the definitions, exclusions thereof are mentioned below:

1. Cancer of Specified Severity:A malignant tumor characterized by the uncontrolled growth and spread of malignant cells with invasion and destruction of normal tissues. This diagnosis must be supported by histological evidence of malignancy. The term cancer includes leukemia, lymphoma and sarcoma.
   

   The following are excluded:

   1. All tumors which are histologically described as carcinoma in situ, benign, pre-malignant, borderline malignant, low malignant potential, neoplasm of unknown behavior, or non-invasive, including but not limited to: Carcinoma in situ of breasts, Cervical dysplasia CIN-1, CIN - 2 and CIN-3.
   2. Any non-melanoma skin carcinoma unless there is evidence of metastases to lymph nodes or beyond;
   3. Malignant melanoma that has not caused invasion beyond the epidermis;
   4. All tumors of the prostate unless histologically classified as having a Gleason score greater than 6 or having progressed to at least clinical TNM classification T2N0M0
   5. All Thyroid cancers histologically classified as T1N0M0 (TNM Classification) or below;
   6. Chronic lymphocytic leukaemia less than RAI stage 3
   7. Non-invasive papillary cancer of the bladder histologically described as TaN0M0 or of a lesser classification
   8. All Gastro-Intestinal Stromal Tumors histologically classified as T1N0M0 (TNM Classification) or below and with mitotic count of less than or equal to 5/50 HPFs;
2. First Heart Attack of specified severity (Myocardial Infarction): The first occurrence of heart attack or myocardial infarction, which means the death of a portion of the heart muscle as a result of inadequate blood supply to the relevant area. The diagnosis for Myocardial Infarction should be evidenced by all of the following criteria:
   
   1. A history of typical clinical symptoms consistent with the diagnosis of acute myocardial infarction (For e.g. typical chest pain)
   2. New characteristic electrocardiogram changes
   3. Elevation of infarction specific enzymes, Troponins or other specific biochemical markers.

   The following are excluded:

   1. Other acute Coronary Syndromes
   2. Any type of angina pectoris
   3. A rise in cardiac biomarkers or Troponin T or I in absence of overt ischemic heart disease OR following an intra-arterial cardiac procedure.
3. Open Chest CABG:The actual undergoing of heart surgery to correct blockage or narrowing in one or more coronary artery(s), by coronary artery bypass grafting done via a sternotomy (cutting through the breast bone) or minimally invasive keyhole coronary artery bypass procedures. The diagnosis must be supported by a coronary angiography and the realization of surgery has to be confirmed by a cardiologist.
   

   Angioplasty and/or any other intra-arterial procedures are excluded.

4. Kidney Failure Requiring Regular Dialysis: End stage renal disease presenting as chronic irreversible failure of both kidneys to function, as a result of which either regular renal dialysis (haemodialysis or peritoneal dialysis) is instituted or renal transplantation is carried out. Diagnosis has to be confirmed by a specialist medical practitioner.
5. Stroke Resulting In Permanent Symptoms: Any cerebrovascular incident producing permanent neurological sequelae. This includes infarction of brain tissue, thrombosis in an intracranial vessel, haemorrhage and embolisation from an extracranial source. Diagnosis has to be confirmed by a specialist medical practitioner and evidenced by typical clinical symptoms as well as typical findings in CT Scan or MRI of the brain. Evidence of permanent neurological deficit lasting for at least 3 months has to be produced.
   

   The following are excluded:

   1. Transient ischemic attacks (TIA)
   2. Traumatic injury of the brain
   3. Vascular disease affecting only the eye or optic nerve or vestibular functions
6. Major Organ/ Bone Marrow Transplant: The actual undergoing of a transplant of:
   
   1. One of the following human organs: heart, lung, liver, kidney, pancreas, that resulted from irreversible end-stage failure of the relevant organ, or
   2. Human bone marrow using haematopoietic stem cells. The undergoing of a transplant has to be confirmed by a specialist medical practitioner.

   The following are excluded:

   1. Other stem-cell transplants
   2. Where only islets of langerhans are transplanted
7. Permanent Paralysis of limbs: Total and irreversible loss of use of two or more limbs as a result of injury or disease of the brain or spinal cord. A specialist medical practitioner must be of the opinion that the paralysis will be permanent with no hope of recovery and must be present for more than 3 months.
   

   Permanent Disability due to accident: Permanent Disability will be established if the life assured is unable to perform 3 out of the 6 following activities of daily work:

   1. Mobility: The ability to walk a distance of 200 meters on flat ground
   2. Bending: The ability to bend or kneel to touch the floor and straighten up again and the ability to get into a standard saloon car, and out again.
   3. Climbing: The ability to climb up a flight of 12 stairs and down again, using the handrail if needed.
   4. Lifting: The ability to pick up an object weighing 2kg at table height and hold for 60 seconds before replacing the object on the table.
   5. Writing: The manual dexterity to write legibly using a pen or pencil, or type using a desktop personal computer keyboard.
   6. Blindness: permanent and irreversible - Permanent and irreversible loss of sight to the extent that even when tested with the use of visual aids, vision is measured at 3/60 or worse in the better eye using a Snellen eye chart.

   For the purpose of PD to apply, the disability should have lasted for at least 180 days without interruption from the date of disability and must be deemed permanent by a Company empaneled medical practitioner.

The details of benefits payable are as below:

Annuity paid out after date of intimation of death, CI or PD (as applicable) will be adjusted from the Death Benefit, CI or PD (as applicable) and the net amount will be paid to the Claimant.

Please refer Appendix A, Clause 1 for the list of CI/PD covered and their exclusions.

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