i. Waiting period for Death Benefit for policies sourced through POS:

In the event of death of the Life Assured during the first 90 days from the Date of Commencement of Risk (“Waiting Period”), no Death Benefit shall be payable.

In such an event, the Company will refund all premiums paid (including modal loading but excluding all paid taxes, cesses and levies, etc. if any) and the Policy will terminate with all rights and benefits with immediate effect.

No Waiting Period applies where death of the Life Assured is due to an Accident.

ii. For Life Plus and Life Rebalancing variants, the following exclusions shall be applicable for Accidental Death Benefit (applicable for POS and Non- POS)

a. Death caused due to Suicide or attempted Suicide, intentional self-inflicted injury or acts of self-destruction.

b. Death caused by congenital external diseases, defects or anomalies or in consequence thereof

c. Death arising out of or attributable to foreign invasion, act of foreign enemies, hostilities, warlike operations (whether war be declared or not or while performing duties in the armed forces of any country during war or at peace time), participation in any naval, military or air-force operation, civil war, riot, public defense, rebellion, revolution, insurrection, military or usurped power.

d. Death caused by treatment directly arising from or consequent upon any Life Assured committing or attempting to commit a breach of law

e. Death caused by Alcohol or solvent abuse or taking of Drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner.

f. Death caused by participation of the Life Assured in any flying activity, except as a bona fide, fare-paying passenger of a recognized airline on regular routes and on a scheduled timetable.

g. Death of the Life Assured whilst engaging in a speed contest or racing of any kind (other than on foot), bungee jumping, parasailing, ballooning, parachuting, skydiving, paragliding, hang gliding, mountain or rock climbing necessitating the use of guides or ropes, potholing, abseiling, deep sea diving using hard helmet and breathing apparatus, polo, snow and ice sports in so far as they involve the training for or participation in competitions or professional sports, or involving a naval, military or air force operation.

h. Death caused by engaging in hazardous sports / pastimes, i.e., taking part in (or practicing for) boxing, caving, climbing, horse racing, jet skiing, martial arts, mountaineering, off piste skiing, pot holing, power boat racing, underwater diving, yacht racing or any race, trial or timed motor sport.

i. Death arising from or caused by ionizing radiation or contamination by radioactivity from any nuclear fuel (explosive or hazardous form) or resulting from or from any other cause or event contributing concurrently or in any other sequence to the loss, claim or expense from any nuclear waste from the combustion of nuclear fuel, nuclear, chemical or biological attack.

• Chemical attack or weapons means the emission, discharge, dispersal, release or escape of any solid, liquid or gaseous chemical compound which, when suitably distributed, is capable of causing any Illness, incapacitating disablement or death.

iii. Suicide:

If the Life Assured, whether sane or insane, commits suicide within 12 months from the Date of commencement of risk of this Policy, We will refund higher of 80% of the Total Premiums Paid, if any till the date of death or Policy Cancellation Value as available on the date of death, provided the Policy is in force.

In the case of a revived Policy, if the Life Assured, whether sane or insane, commits suicide within 12 months of the date of revival of the Policy, higher of 80% of the total premiums paid, if any till date of death or Policy Cancellation Value as available on date of death will be payable by Us.

The Policy will terminate on making such a payment and all rights, benefits and interests under the Policy will stand extinguished.

Biological attack or weapons means the emission, discharge, dispersal, release or escape of any pathogenic (disease producing) microorganisms and/or biologically produced toxins (including genetically modified organisms and chemically synthesized toxins) which are capable of causing any Illness, incapacitating disablement or death.

• Officially Valid Document (OVD) for identity and address proof
• Recent Passport-size Photograph
• Age Proof (if not established through OVD)
• PAN (or Form 97, wherever applicable)
• Payout Mandate – Bank account details
• CDF - Customer declaration
• Agent confidential report (Based on login source)
• Passport (Applicable for NRI)
• FATCA/CRS declaration (where applicable)
• Any other document, as may be required by the Company on a case-to-case basis

For processing a death claim under this Policy, We will require the following documents (as may be relevant):

• Duly filled and signed Claimant Statement Form
• Copy of Death Certificate of the Life Assured, issued by government authority
• Claimant address proof^*
• Claimant photo identity proof^*
• Recent photograph of the claimant
• Pan card / Form 97 of the claimant
• Duly filled and signed Payout mandate form with bank account details of the claimant
• Copy of cancelled cheque / bank statement / bank passbook with printed account number and name of the claimant

DOCUMENTS REQUIRED BASED ON CAUSE OF DEATH

A. In case of death due to Unnatural causes such as Accidents (Road / Rail / Air etc), Murder, Suicide, etc.

• Medico-legal cause of death certificate
• First Information Report (FIR) from the police authority
• Inquest/ Panchnama Report
• Final police investigation report
• Post Mortem Report (PMR) issued by the hospital
• Viscera / Chemical examination report
• Newspaper Cutting, if any
• Driving License (of the Life Assured driving the vehicle in case of death due to a road accident)
• Hospitalization / treatment records if any
• Duly filled in Medical/ Hospital Attendant Certificate
• Duly filled in Employer Certificate (only if Life Assured was a salaried individual)

B. In Case of death due to Natural or medical causes (death at home, hospital)

• Medico-legal / Medical cause of death certificate
• Past medical records and treatment papers
• All hospitalization records of the Life Assured such as:
  • Admission form
  • Indoor Case Papers (ICPs)
  • Discharge summary
  • Diagnostic test reports such as USG, Pathology / Lab reports etc.,
• Duly filled in Treating Doctor Certificate
• Duly filled in Medical/ Hospital Attendant Certificate

Claim payments are made only in Indian currency in accordance with the prevailing Exchange control regulations and other relevant laws and regulations in India. In case the Claimant is unable to provide any or all of the above documents, in exceptional circumstances such as a natural calamity, the Company may at its own discretion conduct an investigation and may subsequently settle the claim.

1. How much term insurance cover do I need?

While it’s recommended that the life cover be 10 to 15 times your annual income, you also need to take into account your current expenses and the impact that inflation would have on your future expenses. If you are the sole breadwinner, you have dependent family members whom you need to always protect financially. Also, if you take a home loan or an education loan for your child, you need to ensure that, in case something happens to you, your family should not be burdened by loan EMIs. All these factors should be considered when choosing the ideal life cover amount. New age term insurance plans also give one the flexibility to decide how they want their loved ones to receive the life cover payout as a lumpsum, in the form of a monthly income or a combination of both.

2. Are there any age limits for buying this term plan?

Yes, the minimum and maximum age for buying this term plan are 18 and 65 years respectively. For NRIs and housewives, the minimum and maximum age for buying this term plan is 21 and 60 years respectively.

3. What is Premium Break benefit?

You have an option to take 12 months premium break from paying the premiums when you face financial difficulties. All premiums for the said period will be deferred to next year but the life cover and rider(s) will continue as per the terms and conditions. This benefit option can be availed multiple times with at least 5 policy years between two Premium Break periods. The Premium Break will not be available during the last 3 policy years of the premium payment term. To know more the about the process, please refer the brochure.

4. What is 3 Lakh claim intimation payout benefit?

In case of death of Life Assured, Instant relief in form of Rs. 3,00,000 to be paid. This benefit is for Sum Assured greater than or equal to 1 Crore & will be offered within one working day from the claim registration date as gesture to provide interim support.

5. How is Terminal Illness benefit different from Critical Illness benefit? Is it included in the basic benefit or an add-on?

Terminal Illness is an in-built feature of our Term plan as it does not incur any extra cost. Any condition or illness which, in the opinion of two independent medical practitioners’ specializing in treatment of such illness, is highly likely to lead to death within 6 months will be considered as a Terminal Illness. The terminal illness must be diagnosed and confirmed by medical practitioners’ registered with the Indian Medical Association and approved by the Company. On the other hand, Critical Illness Cover is an optional benefit that you can purchase wherein you receive a pre-determined claim amount in case of diagnosis of any of 20/60 specified critical illnesses. No bills or proof of expenditure is required.

There is also no restriction of network hospitals. You can use the claim amount to get a treatment at a hospital of your choice or however else you deem fit. The premium for this benefit remains constant throughout policy term.