Académique Documents
Professionnel Documents
Culture Documents
MwZm J¶m amBS>a ¶yAmB©EZ/ amBS>a ~r‘m am{e/ amBS>a Ho$ {bE {H$ñV amBS>a Ho$ {bE A§{V‘ àr{‘¶‘ Ho$ ^wJVmZ H$s amBS>a H$s g‘mpßV H$s {V{W/
H«$_ g§./ àr{‘¶‘ / Instalment Premium Xo¶ {V{W / Due date of payment of Date of rider termination
Sr. No. Rider Opted UIN Rider Sum Assured
for Rider last premium for Rider
ZmoQ>: ^mJ g ({hVbm^) H$s eV© 4 Ho$ A§VJ©V CëboI {H$E JE amBS>a H$s eV] Ho$db V^r bmJy hm|Jr AJa Bg amBS>a H$mo MwZm J¶m hmo & Note: Conditions of the rider(s) mentioned under Condition no. 4
of Part C (Benefits) shall only apply if the above mentioned riders have been opted for.
~r_m A{Y{Z`_, 1938 H$s Ymam 39 Ho$ A§VJ©V Zm{_V ì`pŠV H$m Zm_ /
Name of Nominee under Section 39 of the Insurance Act, 1938:
¶{X Zm{‘V Ad¶ñH$ h¡, Vmo {Z¶w³V ì¶p³V H$m Zm‘:
If nominee is a minor, name of the Appointee:
àñVmd g§.: / Proposal No.: àñVmd H$s {V{W: / Date of Proposal: {hVbm^ {MÌU g§X^© g§.: / Benefit Illustration Reference No.:
NOTE: In case you have any Complaints/Grievance, you may approach Grievance Redressal Officer/ Ombudsman, whose address is as under:
àñVmdH$ H$m Zm‘ Am¡a nVm: / Name and address of Proposer: ~r{‘V ì¶p³V H$m Zm‘ Am¡a nVm: / Name and address of Life Assured:
emIm H$m¶m©b¶ H$m nVm: / Address of Branch Office:
~r‘m A{Y{Z¶‘, 1938 H$s Ymam 38 Ho$ A§VJ©V àñVmdH$ ¶m ~r{‘V ì¶p³V ¶m CgHo$ g‘ZwwXo{eVr H$mo ¶m ~r‘m H$mZyyZ ((g§emoYZ)) A{Y{Z¶‘ 1938
H$s Ymam 39 Ho$ A§VJ©V Zm{‘Vm| ¶m à‘m{UV {ZînmXH$m| ¶m àemgH$m| ¶m Aݶ d¡Ym{ZH$ à{V{Z{Y¶m| H$mo {OÝhm|Zo CgH$s gånXm ¶m BBg nm°{bgr Ho$ A§VJ©V
Xo¶ am{e ‘mÌ Ho$ {bE ^maV g§K Ho$ {H$gr amÁ¶ ¶m g§K em{gV àXoe Ho$ {H$gr ݶm¶mb¶, Omo ^r bmJy hmo, go AnZo à{V{Z{Y hmoZo H$m à‘mUnÌ àmßV
bm^mWu, {hVbm^ {Ogo Xo¶ h¢ {H$¶m hmoJm &
Beneficiary to whom Benefits payable The proposer or the Life Assured or his Assignee under Section 38 of Insurance Act, 1938 or Nominees under Section 39 of
Address of Grievance Redressal Officer: Address of Insurance Ombudsman:
Insurance Act, 1938 or proved Executors or Administrators or other Legal Representatives who should take out representation
to his/ her Estate or limited to the moneys payable under this Policy from any Court of any State or Territory of the Union of India,
as applicable.
àr{‘¶‘ {H$g Ad{Y VH$ Xo¶ A§{V‘ àr{‘¶‘ Ho$ ^wJVmZ H$s Xo¶ {V{W ¶m ~r{‘V ì¶p³V H$s Cggo nyd© ‘¥Ë¶w hmoZo VH$
Period during which premiums payable Till the stipulated due date of payment of last premium or earlier death of the Life Assured.
àr{‘¶‘ Xo¶ hmoZo H$s {V{W {ZYm©[aV Xo¶ {V{W ................................ H$mo
Dates when premium payable On the stipulated due date in …………….....
{ZJ‘ Ho$ {bE Cnamo³V emIm H$m¶m©b¶ na hñVmj[aV, {OgH$m nVm A§{V‘ n¥îR> na {X¶m J¶m h¡ VWm {Og na nm°{bgr go g§~§{YV g^r nÌmMma ^oOo OmZo Mm{hE &
Signed on behalf of the Corporation at the above mentioned Branch Office, whose address is given on the last page and to which all communications
relating to the policy should be addressed.
Note: In case of dispute in respect of interpretation of these terms and conditions and special provisions/conditions the English version shall stand valid.
{XZm§H$ / Date:
Om§MH$Vm© / Examined by:
H¥$Vo d[aîR>/‘w»¶/emIm à~§YH$
’$m°‘© Z§. / Form No.: p. Chief / Sr./ Branch Manager
YOU ARE REQUESTED TO EXAMINE THIS POLICY, AND IF ANY MISTAKE BE FOUND THEREIN, RETURN IT IMMEDIATELY FOR CORRECTION.
EOoÝgr H$moS> EOoÝQ> H$m Zm_ EOoÝQ> H$m ‘mo~mBb Z§~a/b¢S>bmBZ Z§~a
IRDAI Regn. No.: 512 Agency Code Agent Name Agent’s Mobile Number/Landline Number
28177 Jeevan Labh Policy document_21-01.indd Spread 2 of 8 - Pages(2, 15) 15-02-2016 05:11:42
32. à{V^mJrr H$m AW© h¡ {ZJ_ Ho$ AZw^d Ho$ AmYma na nm°{bgr _wZm\o$ _| ^mJrXmar H$m 33. Paid - Up is the status of the Policy if the premiums are paid for at
nmÌ h¡& least 3 full years and subsequent premiums are not paid within the
grace period.
33. MwH$Vmm nm°{bgr H$s dh pñW{V h¡, H$_ go H$_ 3 nyao dfm] hoVw àr{_`åg H$m ^wJVmZ
34. Policy Anniversary means one year from the date of commencement
AXm {H$`m OmVm h¡ Am¡a nadVu àr{_`åg H$m ^wJVmZ [a`m`Vr Ad{Y Ho$ Xm¡amZ Zht of the Policy and the same date falling one year thereafter, till the date
{H$`m OmVm h¡& of maturity.
34. nm°{bgr df©Jm§R> H$m AW© nm°{bgr Ho$ Ama§^ hmoZo H$s {V{W go EH$ df© VWm CgHo$ 35. Policy/Policy Document means this document along with
~mX n[anŠdVm VH$ EH$ df© ~mX AmZodmbr àË`oH$ {V{W go h¡& endorsements, if any, issued by the Corporation which is a legal
35. nm°{bgr/nm°{bgr XñVmdoO H$m AW© n¥îR>m§H$Zm|, AJa H$moB© hm|, g{hV {ZJ_ Ûmam contract between the Policyholder and the Corporation.
Omar dh XñVmdoO h¡ Omo {H$ nm°{bgrYmaH$ VWm {ZJ_ Ho$ ~rM EH$ d¡Ym{ZH$ 36. Policyholder is the legal owner of this policy.
AZw~§Y hmoVm h¡& 37. Policy term is the period, in years, from the Date of commencement
of policy during which the contractual benefits are payable as per the
36. nm°{bgrYmaH$ H Bg nm°{bgr H$m H$mZyZr _m{bH$ h¡& terms and conditions of the policy.
37. nm°{bgr Ad{YY dfm] _| nm°{bgr Ho$ Ama§^ hmoZo H$s {V{W go dh Ad{Y h¡, O~ 38. Policy year is the period between two consecutive policy
nm°{bgr Ho$ {Z`_m| d eVm] Ho$ AZwgma g§{dXmJV {hVbm^ Xo` hmoVo h¢& anniversaries. This period includes the first day and excludes the next
38. nm°{bgr df©f Xmo bJmVma nm°{bgr df©Jm§R>m| Ho$ ~rM H$s Ad{Y h¡& Bg Ad{Y policy anniversary day.
_| nhbm df©Jm§R> H$m {XZ em{_b h¡ VWm AJbm nm°{bgr df©Jm§R> {XZ em{_b 39. Premium is the contractual amount payable by the Policyholder
Zht h¡& at specified times periodically as mentioned in the schedule of
this Policy Document to secure the benefits under the policy. The
39. àr{_`__ nm°{bgr Ho$ A§VJ©V {hVbm^m| H$mo gwa{jV H$aZo Ho$ {bE Bg nm°{bgr XñVmdoO premium payable will be “Total Installment Premium” which includes
H$s AZwgyMr _| Cpëb{IV {d{ZYm©[aV g_`m| na Amd{YH$ ê$n go nm°{bgrYmaH$ Ûmam i. Installment Premium for Base Policy and
AXm H$s OmZo dmbr g§{dXmJV am{e h¡& AXm {H$`m OmZo dmbm àr{_`_ hmoJm “Hw$b {H$ñV ii. Installment Premium for Rider, if Rider has been opted for.
àr{_`_”, {Og_| em{_b hmoJm
The term ‘Premium’ used anywhere in this Policy Document does
i) _yb nm°{bgr Ho$ {bE {H$ñV àr{_`_ VWm not include any taxes.
ii) amBS>a Ho$ {bE {H$ñV àr{_`_, AJa amBS>a H$mo MwZm J`m hmo 40. Premium paying term means the period, in years, during which
Bg nm°{bgr H$mJOmV _| H$ht ^r BñVo_mb {H$E JE eãX “àr{_`_” _| premium is payable.
{H$Ýht H$am| H$mo em{_b Zht {H$`m J`m h¡& 41. Proof of continued insurability is the information sought from the
policyholder to decide revival of the policy. This includes Form of
40. àr{_`_ ^wJVmZ Ad{YY H$m AW© dfm] _| dh Ad{Y h¡, {OgHo$ Xm¡amZ àr{_`_ H$m declaration of Good Health, Medical Reports, Special Reports, etc.
^wJVmZ {H$`m OmVm h¡& 42. Proposer is a person who proposes the life insurance proposal.
41. {ZaÝVa ~r_m `mo½`Vm H$m à_mU U `h nm°{bgrYmaH$ go _m§Jr OmZodmbr OmZH$mar h¡ 43. Revival of a policy which was discontinued due to the non-payment
Vm{H$ nm°{bgr Ho$ nwZ:àMbZ H$m {ZU©` {b`m Om gHo$& Bg_| CÎm_ ñdmñÏ` H$s of premium, means restoration of the policy by the insurer as per
KmofUm, _o{S>H$b [anmoQ²>©g, {deof [anmoQ²>©g Am{X H$m g_mdoe h¡& underwriting decision, upon the receipt of all the premium due and
42. àñVmdH$ H dh ì`pŠV h¡ Omo OrdZ ~r_m boZo H$m àñVmd XoVm h¡& other charges/ late fee, if any, as per the terms and conditions of
the policy, upon being satisfied as to the continued insurability of
43. nwZ: àMmbZZ H$m AW© àr{_`_ H$m ^wJVmZ Z {H$E OmZodmbr nm°{bgr H$mo, the insured on the basis of the information, documents and reports
g^r Xo` àr{_`åg VWm AÝ` à^mam|/{dbå~ ewëH$, AJa H$moB© hmo, nm°{bgr Ho$ furnished by the policyholder, in accordance with the then existing
{Z`_m| d eVm] Ho$ AZwgma àmßV hmoZo VWm nm°{bgrYmaH$ Ûmam _m¡OyXm ~r_mboIZ underwriting guidelines.
{Xem{ZX}em| Ho$ AZwgma noe H$s JB© OmZH$mar, H$mJOmVm| VWm [anmoQ²>©g Ho$ AmYma 44. Revival Period is the period of two consecutive years from the date
na ~r_mYmaH$ H$s {ZaÝVa ~r_m`mo½`Vm Ho$ ~mao _| g§Vwï> hmoZo na ~r_mH$Vm© Ûmam of discontinuance of the policy, during which period the policyholder
nm°{bgr H$mo nm°{bgr XñVmdoO _| CëboI {H$E JE g_ñV {hVbm^m| {\$a go Mmby is entitled to revive the policy which was discontinued due to the non-
{H$E OmZo go h¡& payment of premium.
45. Rider is an add-on benefit in addition to basic benefits as specified
44. nwZ: àMmbZ Ad{YY BgH$m AW© nm°{bgr Ho$ Aà^mdr hmoZo H$s {V{W go bJmVma Xmo under this Policy Document.
dfm] H$s Ad{Y h¡, {Ogo Ad{Y Ho$ Xm¡amZ nm°{bgrYmaH$ nm°{bgr Ho$ nwZ:àMm{bV
46. Rider Premium is the premium payable by the Policyholder along
H$aZo H$m nmÌ h¡, {Ogo àr{_`_ H$m ^wJVmZ Z {H$E OmZo Ho$ H$maU Aà^mdr H$a with the premium under Base Policy towards the additional cover/
{X`m J`m hmo& benefit opted under the rider, if opted.
45. amBS>a Bg nm°{bgr Ho$ A§VJ©V {d{ZYm©[aV {H$E JE AZwgma _yb {hVbm^m| Ho$ gmW 47. Rider Sum Assured is the assured amount payable on happening of
Omo‹S>m J`m EH$ _yë`d{Õ©V {hVbm^ h¡& a specified event covered under the rider, if opted.
46. amBS>a àr{_`__ nm°{bgrYmaH$ Ûmam, AJa amBS>a MwZm J`m hmo Vmo CgHo$ A{V[aŠV 48. Schedule is the part of policy document that gives the specific
g§ajU/{hVbm^ Ho$ {bE _yb ßbmZ Ho$ A§VJ©V Xo` àr{_`_ Ho$ gmW AXm {H$`m OmZo details of your policy.
dmbm àr{_`_ h¡& 49. Simple Reversionary Bonus is the surplus/profit added by the
Corporation to ‘with-profits’ policies. It is declared per thousand
47. amBS>a ~r_m am{e e dh {ZpíMV aH$_ h¡ Omo {H$ amBS>a Ho$ A§VJ©V g§a{jV KQ>Zm Basic Sum Assured at the end of each financial year based on the
Ho$ K{Q>V hmoZo na, AJa Cgo MwZm J`m hmo, Xo` hmoVr h¡& Corporation’s experience.
48. AZwgyMr AmnHo$ nm°{bgr XñVmdoO H$m EH$ A§J h¡ {Og_| AmnH$s nm°{bgr H$m {ddaU 50. Sum Assured on Death is the assured amount payable on death
_m¡OyX h¡& during the policy term.
49. gab àË`mdVu ~moZg “bm^ g{hV” nm°{bgm| na {ZJ_ Ûmam A{V[aŠV/bm^ Ho$ 51. Sum Assured on Maturity is the absolute amount payable on
ê$n _| Omo‹S>m OmVm h¡& {ZJ_ Ho$ AZw^d Ho$ AZwgma Bgo àË`oH$ {dÎmr` df© Ho$ maturity as mentioned in Condition 1of Part C of this Policy Document.
A§V _| à{V hOma _yb ~r_m am{e na Kmo{fV {H$`m OmVm h¡& 52. Surrender means complete withdrawal / termination of the entire
policy before maturity.
50. _¥Ë`w na ~r_m am{e e Bg nm°{bgr H$s Ad{Y Ho$ Xm¡amZ _¥Ë`w na Xo`
gw{ZpíMV am{e& 53. Surrender Value means an amount, if any, that becomes payable in
case of surrender in accordance with the terms and condition of this
51. n[anŠdVm na ~r_m am{e e `h Hw$b am{e h¡ Omo n[anŠdVm na Xo` h¡ {OgH$m policy.
CëboI Bg nm°{bgr H$mJOmV Ho$ ^mJ g H$s eV© 1 _| CëboI {H$`m J`m h¡& 54. Tabular premium is the premium for the chosen Basic Sum Assured
52. Aä¶n©U H$m AW© nyar nm°{bgr H$mo n[anŠdVm go nhbo dmng boZm/g_mßV based on the age of the Life Assured without application of any
H$aZm h¡& rebate or extra loading.
53. Aä¶n©U _yë` H$m AW©, dh am{e h¡, AJa H$moB© hmo, Omo {H$ Bg nm°{bgr Ho$ 55. Underwriting is the term used to describe the process of assessing
risk and ensuring that the cost of the cover is proportionate to the
{Z`_m| VW eVm] Ho$ AZwgma Cgo gaoÝS>a H$aZo H$s pñW{V _| Xo` hmoVr h¡& risks faced by the individual concerned. Based on underwriting, a
54. Vm{bH$m àr{_`__ `h ~r{_V ì`pŠV H$s C_« Ho$ AmYma na MwZr JB© _yb ~r_m decision on acceptance or rejection of cover as well as applicability
am{e Ho$ {bE àr{_`_ h¡ {Og_| {H$gr [a~oQ> `m A{V[aŠV bmoqS>J H$mo em{_b Zht of suitable premium or modified terms, if any, is taken.
{H$`m J`m h¡& 56. UIN means the Unique Identification Number allotted to this plan by
55. ~r_mboIZ eãX H$m BñVo_mb Omo{I_ AmH$bZ H$s à{H«$`m H$m dU©Z H$aZo VWm the IRDAI.
`h gw{ZpíMV H$aZo Ho$ {bE {H$`m OmVm h¡ {H$ g§~§{YV ì`pŠV Ûmam {OZ Omo{I_m| 57. Vested Bonus is the reversionary bonus, if any, which has already
H$m gm_Zm {H$`m Om ahm h¡, CZHo$ g§ajU Ho$ {bE `h AmZwnm{VH$ bmJV h¡& been declared and remains attached to the policy.
~r_mboIZ Ho$ AmYma na g§ajU H$s ñdrH¥${V `m AñdrH¥${V VWm Cn`wŠV àr{_`_ 58. With Profits policies means policies which are entitled for any
`m g§emo{YV eVm] H$mo bmJy {H$E OmZo, AJa H$moB© hmo, Ho$ g§~§Y _| \¡$gbm {b`m share in surplus (profits) emerging during the term of the policy in
accordance with the terms and conditions of the policy.
OmVm h¡&
PART – C: BENEFITS
56. UIN H$m AW© Bg ßbmZ H$mo AmB©AmaS>rE Ûmam Am~§{Q>V `yZrH$ AmBS>opÝQ>{\$Ho$eZ The following benefits are payable under this policy:
Z§~a h¡&
1. Maturity Benefit: On Life Assured surviving the stipulated Date of
57. {Z{hV ~moZg `h àË`mdVu ~moZg h¡ Omo Kmo{fV {H$`m Om MwH$m h¡ VWm nm°{bgr Maturity provided the policy is inforce, Sum Assured on Maturity
Ho$ gmW Ow‹S>m ahVm h¡& along with vested Simple Reversionary Bonuses and Final Additional
58. bm^ g{hV nm°{b{g`m§m Ho$ VmËn`© Eogr nm°{b{g`m| go h¡, Omo nm°{bgr Ho$ {Z`_m| Am¡a Bonus, if any, shall be payable. Where Sum Assured on Maturity is
equal to Basic Sum Assured.
eVm] Ho$ AZwgma nm°{bgr H$s Ad{Y Ho$ Xm¡amZ {ZJ_ H$mo àmßV hmoZo dmbr A{V[aŠV am{e
(_wZm\o$) _| ^mJrXmar H$s nmÌ hmoVr h¢& 2. Death Benefit: On death of the Life Assured before the stipulated
Date of Maturity provided the policy is inforce, then Death Benefit,
^mJ - g: {hVbm^ defined as sum of “Sum Assured on Death”, vested Simple
Bg nm°{bgr Ho$ A§VJ©V {ZåZ{b{IV {hVbm^ Xo` h¢: Reversionary Bonuses and Final Additional Bonus, if any, shall be
payable. Where, “Sum Assured on Death” is defined as higher
1. n[anŠdVm {hVbm^: ~r{_V ì`pŠV Ho$ n[anŠdVm H$s {ZYm©[aV Ad{Y VH$ Or{dV
Policy Year
4. amBS>a {hVbm^: under the policy on the life of minors, during minority of the Life
12 68.75% 61.50% 58.80%
Assured. However, this Rider will be available from the policy
nm°{bgr df©
13 72.50% 63.80% 60.60%
A. EbAmB©
E Bgr H$m XþþK©Q>ZmË‘H$ ‘¥¥Ë¶ww VWm {dH$bm§JVm {hVbm^ h amBS>
B a anniversary following completion of age 18 years on receipt of 13 72.50% 63.80% 60.60%
(
(UIN:512B209V01) ) ((AJa MwwZm J¶m h
hmo): Bg nm°{bgr Ho$ à`moOZ hoVw XþþK©Q>Zm specific request and payment of additional premium, if found 14 76.25% 66.20% 62.40%
H$mo “~mø qhgH$ VWm Ñí` _mÜ`_m| go AMmZH$, AZno{jV Am¡a AZ¡pÀN>H$ ê$n eligible as per the underwriting rules of the Corporation. 14 76.25% 66.20% 62.40%
15 80.00% 68.50% 64.10%
go hmoZo dmbr KQ>Zm” Ho$ ê$n _| n[a^m{fV {H$`m J`m h¡& Subject to as stated above, under an inforce policy the Accidental 15 80.00% 68.50% 64.10%
AJa EbAmB©gr H$m XþþK©Q>ZmË_H$ _¥Ë`w VWm {dH$bm§JVm {hVbm^ amBS>a A{V[aŠV Death and Disability Benefit Rider can be opted for at any time 16 80.00% 70.80% 65.90%
within the Premium Paying Term of the Base Policy provided the 16 80.00% 70.80% 65.90%
àr{_`_ Ho$ ^wJVmZ na CnbãY h¡& nm°{bgr Ho$ A§VJ©V `h {hVbm^ Ad`ñH$m| outstanding Premium Paying Term of the Base Policy is atleast 5 17 73.10% 67.60%
Ho$ OrdZ na ~r{_V ì`pŠV H$s Ad`ñH$Vm Ho$ Xm¡amZ CnbãY Zht hmoJm& 17 73.10% 67.60%
years. Wherever this rider has been opted for under the policy, 18 75.40% 69.40%
CnamoŠV CëboI Ho$ AYrZ, à^mdr nm°{bgr Ho$ A§VJ©V, EbAmB©gr Ho$ the benefits covered under this Rider will be available during 18 75.40% 69.40%
XþþK©Q>ZmË_H$ _¥Ë`w VWm {dH$bm§JVm {hVbm^ amBS>a H$mo nm°{bgr Ho$ A§VJ©V the policy term or upto the policy anniversary on which the age 19 77.70% 71.20%
nearer birthday of the Life Assured is 70 years, whichever is 19 77.70% 71.20%
H$^r ^r MwZm Om gH$Vm h¡, ~eV] _yb nm°{bgr H$s àr{_`_ ^wJVmZ H$s earlier, provided the Policy is in force for the full Sum Assured as 20 80.00% 72.90%
H$_ go H$_ 5 df© H$s Ad{Y eof hmo& Ohm§ H$ht ^r nm°{bgr Ho$ A§VJ©V 20 80.00% 72.90%
on date of accident. 21 80.00% 74.70%
Bg amBS>a H$mo MwZm J`m h¡, Bg amBS>a Ho$ A§VJ©V g§a{jV {hVbm^ nyar The additional premium for this Rider will not be required to be 21 80.00% 74.70%
nm°{bgr Ad{Y Ho$ Xm¡amZ `m Cg nm°{bgr df©Jm§R> VH$ O~ ~r{_V ì`pŠV paid after all premiums under this Policy have been paid or on 22 76.50%
H$s C_« ZOXrH$s OÝ_{XZ na 70 df© H$s hmo, Omo ^r nhbo hmo, VH$ 22 76.50%
and after the policy anniversary on which the age nearer birthday 23 78.20%
CnbãY hm|Jo, ~eV] XþK©Q>Zm H$s {V{W H$mo nm°{bgr nyar ~r_m am{e Ho$ {bE of the Life Assured is 70 years, whichever is earlier. However, the 23 78.20%
à^mdr hmo& premium under the Base Policy with which this rider is attached 24 80.00%
shall continue to be paid beyond age 70 years till the end of 24 80.00%
Bg nm°{bgr Ho$ A§VJ©V g^r àr{_`_m| H$m ^wJVmZ H$aZo Ho$ ~mX `m Cg Premium Paying Term, wherever applicable. 25 80.00%
nm°{bgr df©Jm§R> Ho$ ~mX O~ ~r{_V ì`pŠV H$s C_« ZμOXrH$s OÝ_{XZ na 25 80.00%
The maximum aggregate limit of assurance under all policies
70 df© H$s hmoVr h¡, Omo ^r nhbo hmo, Bg amBS>a Ho$ {bE A{V{aŠV àr{_`_ including policies with in-built Accident Benefit taken with Life Annexure – V
H$m ^wJVmZ H$aZo H$s Amdí`H$Vm Zht hmoJr& bo{H$Z, _yb nm°{bgr, {Oggo n[a{eîQ> V
Insurance Corporation of India under individual policies as well Guaranteed Surrender Value factors applicable
`h amBS>a g§b½Z h¡, Ho$ {bE àr{_`_ H$m ^wJVmZ 70 df© H$s C_« Ho$ as group policies on the same life to which following benefits {Z{hV ~moZgm| na bmJy Jma§Q>rS> gaoÝS>a _yë` KQ>H$
to vested bonuses
~mX ^r, àr{_`_ ^wJVmZ Ad{Y H$s g_mpßV VH$, Ohm§ H$ht ^r bmJy hmo, apply shall not in any event exceed Rs.100 lakhs of Accident
H$aZm hmoJm& Benefit Sum Assured. If there be more policies than one and if nm°{bgr Ad{Y (àr{_`_ ^wJVmZ Ad{Y)...> Policy Term (Premium Paying Term)...>
the total Accident Benefit Sum Assured exceeds Rs.100 lakhs,
XþþK©Q>Zm {hVbm^ g{hV g^r nm°{b{g`m| Ho$ A§VJ©V {Og_| ^maVr` OrdZ the benefits shall apply to the first Rs. 100 lakhs Accident Benefit 16 (10) 21(15) 25 (16) 16 (10) 21(15) 25 (16)
~r_m {ZJ_ go Cgr ì`pŠV Ho$ OrdZ na {Og na {ZåZ{b{IV {hVbm^ Sum Assured in order of date of policies issued.
bmJy hmo, ì`pŠVJV nm°{b{g`m| VWm g_yh nm°{b{g`m| Ho$ A§VJ©V A§V{Z©{hV If the Life assured is involved in an accident at any time when 1 0.00% 0.00% 0.00% 1 0.00% 0.00% 0.00%
XþþK©Q>Zm {hVbm^ {H$gr ^r KQ>Zm Ho$ {bE `100 bmI H$s XþþK©Q>Zm {hVbm^ this Policy is in force for the full Sum Assured, and such injury
~r_m am{e go A{YH$ Zht hmoJm& AJa EH$ go A{YH$ nm°{b{g`m§ hm| VWm shall within 180 days of its occurrence solely, directly and 2 0.00% 0.00% 0.00% 2 0.00% 0.00% 0.00%
Hw$b XþþK©Q>Zm {hVbm^ ~r_m am{e `100 bmI go A{YH$ hmo Vmo nm°{b{g`m| independently of all other causes result in (a) either permanent 3 17.58% 15.93% 15.28% 3 17.58% 15.93% 15.28%
H$mo Omar H$aZo H$s {V{W Ho$ H«$_ go àW_ `100 bmI H$s XþK©Q>Zm {hVbm^ and total disability, as hereinafter defined or (b) death of the
~r_m am{e bmJy hmoJr& Life assured and the same is proved to the satisfaction of the 4 17.66% 16.22% 15.42% 4 17.66% 16.22% 15.42%
Corporation, the Corporation agrees in case of:
AJa Bg nm°{bgr Ho$ nyar ~r_m am{e Ho$ {bE à^mdr ahZo Ho$ Xm¡amZ {H$gr 5 17.85% 16.58% 15.55% 5 17.85% 16.58% 15.55%
(a). Disability to the Life Assured: (i) pay additional sum equal to
g_` ~r{_V ì`pŠV {H$gr XþþK©Q>Zm H$m [eH$ma hmoVm h¡ VWm CgHo$ O»_r the Accident Benefit Sum Assured in equal monthly instalments 6 18.16% 17.03% 15.72% 6 18.16% 17.03% 15.72%
hmoZo Ho$ 180 {XZm| Ho$ A§Xa, nyU©V: Bgr àË`j H$maU go Omo {H$ g^r spread over 10 years under this Policy. If the policy becomes
Xygao H$maUm| go ñdV§Ì hmo, (A) `m Vmo ñWm`r Ed§ nyU© {dH$bm§JVm `m a claim by the way of death or maturity before the expiry of the 7 18.60% 17.58% 15.93% 7 18.60% 17.58% 15.93%
[eH$ma hmoVm h¡ `m (~) CgH$s _¥Ë`w hmo OmVr h¡, Omo {H$ {ZJ_ Ho$ {bE said period of 10 years, the disability benefit instalments which 8 19.18% 17.58% 16.22% 8 19.18% 17.58% 16.22%
g§VmofOZH$ én go à_m{UV hmo, Vmo {ZJ_ {ZåZ{b{IV Ho$ {bE gh_V h¡: have not fallen due will be paid along with the claim and (ii) waive
the payment of future premiums chargeable, if any, under the 9 19.93% 17.66% 16.58% 9 19.93% 17.66% 16.58%
(A). ~r{_V ì`pŠV H$s {dH$bm§JVm: (i) Bg nm°{bgr Ho$ A§VJ©V 10 dfm] H$s Ad{Y
(A).~r{_V policy (including the premium under Base Policy) to the extent of
_| g_mZ _m{gH$ {H$ñVm| _| XþþK©Q>Zm {hVbm^ ~r_m am{e Ho$ g_mZ A{V[aŠV Accident Benefit Sum Assured. The premium for any other Rider, 10 20.85% 17.85% 17.03% 10 20.85% 17.85% 17.03%
am{e H$m ^wJVmZ H$aZm, AJa 10 df© H$s H${WV Ad{Y H$s g_mpßV go if opted for, shall continue to be paid. 11 21.99% 18.16% 17.58% 11 21.99% 18.16% 17.58%
nhbo _¥Ë`w `m n[anŠdVm Ho$ H$maU nm°{bgr Ho$ A§VJ©V Xmdm CËnÝZ hmoVm The waiver of premium shall extinguish all options under this
12 23.38% 18.60% 17.58% 12 23.38% 18.60% 17.58%
Policy Year
h¡, Vmo {dH$bm§JVm {hVbm^ H$s {H$ñVm| H$m Omo {H$ Xo` Zht hþþB© hmo, Xmdo policy and the benefits covered by 4.A.(b) of this clause except
nm°{bgr df©
Ho$ gmW ^wJVmZ {H$`m OmEJm VWm (ii) nm°{bgr Ho$ A§VJ©V ^{dî` _| {bE as to such assurances, if any, as exceeds the total accident 13 25.05% 19.18% 17.66% 13 25.05% 19.18% 17.66%
OmZo dmbo XþþK©Q>Zm {hVbm^ ~r_m am{e H$s gr_m VH$ Ho$ àr{_`_m|, AJa benefit sum assured under all the existing policies of the life
H$moB© hm|, H$mo _m\$ H$a {X`m OmEJm (_yb nm°{bgr) {H$gr AÝ` amBS>a Ho$ assured and which may have been kept in force by continued 14 27.06% 19.93% 17.85% 14 27.06% 19.93% 17.85%
payment of premiums.
{bE àr{_`_, AJa MwZm J`m hmo, H$m ^wJVmZ Omar aIZm n‹S>oJm& 15 30.00% 20.85% 18.16% 15 30.00% 20.85% 18.16%
The disability above referred to must be disability which is
àr{_`_ H$s _m\$s, Bg nm°{bgr Ho$ A§VJ©V g^r {dH$ënm| Ho$ VWm Bg the result of an ‘Accident’ and must be total and permanent. 16 35.00% 21.99% 18.60% 16 35.00% 21.99% 18.60%
Šbm°O Ho$ 4.A.(b) Ho$ Ûmam g§a{jV {hVbm^m| H$mo g_mßV H$a XoJr, {gdm` Accidental injuries which independently of all other causes and
Eogo AmídmgZm| Ho$, AJa H$moB© hm|, Omo {H$ ~r{_V ì`pŠV H$s g^r _m¡OyXm within 180 days from the happening of such accident result in 17 23.38% 19.18% 17 23.38% 19.18%
nm°{b{g`m| Ho$ A§VJ©V Hw$b XþþK©Q>Zm {hVbm^ ~r_m am{e Ho$ D$na hm|, {OÝh| such disability due to which life assured is unable to perform at 18 25.05% 19.93% 18 25.05% 19.93%
àr{_`_m| Ho$ {ZaÝVa ^wJVmZ Ho$ Ûmam à^mdr aIm J`m hmo& least 4 (four) of the following Activities of Daily Living (defined
below) permanently without any external help/support including 19 27.06% 20.85% 19 27.06% 20.85%
D$na g§X{^©V {dH$bm§JVm, Eogr {dH$bm§JVm hmoZr Mm{hE Omo {H$gr ‘XþþK©Q>Zm’ the use of mechanical equipment, special devices or other aids,
H$m n[aUm_ hmo VWm nyU© d ñWm`r hmoZr Mm{hE& XþþK©Q>ZmË_H$ MmoQ> Omo then such disability shall be treated as Total and Permanent. 20 30.00% 21.99% 20 30.00% 21.99%
AÝ` g^r H$maUm| go ñdV§Ì VWm XþþK©Q>Zm Ho$ hmoZo go 180 {XZm| Ho$ A§Xa Medical Examiner authorized by the Corporation shall examine 21 35.00% 23.38% 21 35.00% 23.38%
Eogr {dH$bm§JVm H$m H$maU ~Zo, {Oggo ~r{_V ì`pŠV, X¡{ZH$ OrdZ (ZrMo the life assured to certify the disability as Total and Permanent.
n[a^m{fV) H$s {ZåZ{b{IV J{V{d{Y`m| _| go H$_ go H$_ 4 (Mma) H$mo The Activities of Daily Living are: 22 25.05% 22 25.05%
{~Zm {H$gr ~mhar _XX/g_W©Z, {Og_| `m§{ÌH$ CnH$aU, {deof gmYZ `m • Dressing - the ability to put on and take off all necessary 23 27.06% 23 27.06%
AÝ` _XX ^r em{_b h¡, H$mo H$aZo go ñWm`r én go Ag_W© hmo, H$mo nyU© garments, artificial limbs or other surgical appliances that are
medically necessary 24 30.00% 24 30.00%
VWm ñWm`r {dH$bm§JVm _mZm OmEJm& {ZJ_ Ûmam A{YH¥$V {M{H$ËgH$ ×mam
~r{_V OrdZ H$s Om§M H$aHo$ CgH$m {dH$bm§JVm H$mo nyU© d ñWm`r Ho$ ê$n • Washing - the ability to wash to maintain an adequate level of 25 35.00% 25 35.00%
_| à_m{UV {H$`m OmEJm& cleanliness and personal hygiene
28177 Jeevan Labh Policy document_21-01.indd Spread 4 of 8 - Pages(4, 13) 15-02-2016 05:11:43
eV© `h h¡ {H$, Ohm§ ~r_m H$mZyZ (g§emoYZ) AÜ`mXoe, 2015 Ho$ Ama§^ hmoZo go Provided that where a nomination made whether before or after the X¡{ZH$ OrdZ H$s J{V{d{Y`m§ `o h¢: • Feeding - the ability to transfer food from a plate or bowl to
nhbo ~r{_V ì`pŠV Ho$ nËZr `m CgH$s nËZr VWm ~ÀMm| `m CZ_| go {H$gr Ho$ nj commencement of the Insurance Laws (Amendment) Act, 2015, in the mouth once food has been prepared and made available
• àgmYZ - g^r Amdí`H$ dñÌ, H¥${Ì_ A§J `m AÝ` g{O©H$b CnH$aUm|
_| A{^ì`ŠV ê$n go Zm_m§H$Z {H$`m J`m hmo, Mmho dh nm°{bgr na A§{H$V hmo `m favour of the wife of the person who has insured his life or of his wife • Toileting - the ability to use the lavatory or otherwise manage
H$mo, Omo {H$ {M{H$Ëgr` Ñ{ï> go Oê$ar hmo, nhZZo Am¡a CVmaZo H$s j_Vm bowel and bladder functions so as to maintain a satisfactory
and children or any of them is expressed, whether or not on the face
Zht, O¡gm {H$ Bg Ymam Ho$ A§VJ©V {H$`m J`m h¡, H${WV Ymam 6 nm°{bgr na bmJy of the policy, as being made under this section, the said section 6 • YwbmB© - AnZr ñdÀN>Vm VWm Amamo½` H$mo C{MV én go ~ZmE aIZo level of personal hygiene
Zht _mZr OmEJr `m bmJy Zht hmoJr& shall be deemed not to apply or not to have applied to the policy. Ho$ {bE ZhmZo-YmoZo H$s `mo½`Vm • Mobility - the ability to move indoors from room to room on
n[a{eï> III • ^moOZ H$aZm - ^moOZ CnbãY hmoZo na Cgo Wmbr `m H$Q>moar go boH$a level surfaces at the normal place of residence
Annexure III
_w§h _| S>mbZo H$s `mo½`Vm • Transferring - the ability to move from a bed to an upright
~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ûmam `Wmg§emo{YV ~r_m A{Y{Z`_, 1938 Section- 45 as per Insurance Act, 1938, as amended by Insurance chair or wheel chair and vice versa
Ho$ AZwgma Ymam 45 : Laws (Amendment) Act, 2015 • em¡M {H«$`m - em¡Mmb` H$m BñVo_mb H$aZo H$s `mo½`Vm `m AÝ` VarHo$
go _b-_yÌ Ë`mJ H$aZo H$s j_Vm Vm{H$ {ZOr ñdÀN>Vm H$m g§VmofOZH$ Notwithstanding what is mentioned above, Accidental injuries
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 1. No policy of life insurance shall be called in question on any which independently of all other causes and within 180 days from
ñVa ~Zm aho the happening of such accident, result in the irrecoverable loss of
hmoZo H$s {V{W `m Omo{I_ Ho$ Ama§^ hmoZo H$s {V{W go `m nm°{bgr Ho$ nwZ©MbZ H$s ground whatsoever after the expiry of three years from the date of
the policy, i.e. from the date of issuance of the policy or the date of • J{VerbVm - Ka _| g_Vb ñWmZ na EH$ H$_ao go Xÿgao H$_ao VH$ the entire sight of both eyes or in the amputation of both hands at
{V{W go `m nm°{bgr na amBS>a H$s {V{W go VrZ dfm] H$s g_mpßV na, Omo ^r ~mX commencement of risk or the date of revival of the policy or the date OmZo H$s `mo½`Vm or above the wrists or in the amputation of both feet at or above
_| hmo, {H$gr ^r AmYma na àíZ Ho$ {bE ~wbm`m Zht Om gH$Vm h¡& ankles, or in the amputation of one hand at or above the wrist and
of the rider to the policy, whichever is later. • ñWmZmÝVaU - {~ñVa go CR>H$a Hw$gu `m ìhrb Mo`a na ~¡R>Zo VWm
one foot at or above the ankle, shall also be deemed to constitute
2. OrdZ ~r_m H$s {H$gr nm°{bgr H$mo, nm°{bgr Ho$ Omar hmoZo H$s {V{W `m Omo{I_ Ama§^ 2. A policy of life insurance may be called in question at any time within BgH$s {dnarV J{V{d{Y H$s j_Vm such disability.
hmoZo H$s {V{W `m nm°{bgr Ho$ nwZ©MbZ H$s {V{W go `m nm°{bgr Ho$ amBS>a H$s {V{W three years from the date of issuance of the policy or the date of CnamoŠV ~mVm| Ho$ ~m~OyX, XþþK©Q>Zm Ho$ H$maU bJr MmoQ> go AJa AÝ` g^r After the happening of the disability, full particulars thereof must
go VrZ dfm] Ho$ A§Xa {H$gr ^r g_`, Omo ^r ~mX H$s {VWr hmo, YmoImY‹S>r Ho$ AmYma commencement of risk or the date of revival of the policy or the date H$maUm| go ñdV§Ì VWm Eogr XþþK©Q>Zm Ho$ hmoZo go 180 {XZm| Ho$ A§Xa, XmoZm| be given in writing to the office of the Corporation where this Policy
na àíZ Ho$ {bE ~wbm`m Om gH$Vm h¡& of the rider to the policy, whichever is later on the ground of fraud: Am§Im| H$s gånyU© Ñ{ï> H$s Ag§emoܶ hm{Z `m XmoZm| hmWm| H$m H$bmB© `m BgHo$ is serviced together with the then address and whereabouts
D$na go {dÀN>oXZ `m XmoZm| n¡am| H$m Q>IZm| `m BgHo$ D$na go VWm EH$ of the Life Assured and within 90 days of the happening of the
~eV} ~r_mH$Vm© Ûmam ~r_mYmaH$ H$mo `m ~r_mYmaH$ Ho$ H$mZyZr à{V{Z{Y `m Zm{_Vm| Provided that the insurer shall have to communicate in writing to the
n¡a H$m Q>IZo `m BgHo$ D$na go {dÀN>oXZ hmo Vmo Cgo ^r Eogr {dH$bm§JVm disability, must be given to the servicing Office of the Corporation,
insured or the legal representatives or nominees or assignees of the in the manner required by it, proof of disability satisfactory to the
`m Aä`{n©Vm| H$mo {b{IV _| CZ AmYmam| VWm VÏ`m| Ho$ ~mao _| gy{MV H$aZm hmoJm, insured the grounds and materials on which such decision is based. _mZm OmEJm & Corporation and without any expense to the Corporation. Medical
{OZHo$ AmYma na `h \¡$gbm {b`m J`m h¡& {dH$bm§JVm Ho$ K{Q>V hmoZo Ho$ ~mX, BgHo$ 90 {XZm| Ho$ A§Xa {ZJ_ Ho$ Bg Examiner authorized by the Corporation shall examine the Life
Explanation I.-For the purposes of this sub-section, the expression
ñnï>rH$aU I: Bg Cn-Ymam Ho$ à`moOZ hoVw, “YmoIoY‹S>r” H$m AW© h¡ ~r_mYmaH$ `m “fraud” means any of the following acts committed by the insured or nm°{bgr H$mo godm àXmZ H$aZo dmbo H$m`m©b` _| {b{IV én go ~r{_V ì`pŠV Assured and certify in respect of any disability claimed after the
CgHo$ EOoÝQ> Ûmam ~r_mH$Vm© H$mo YmoIm XoZo `m ~r_mH$Vm© H$mo OrdZ ~r_m nm°{bgr Omar by his agent, with the intent to deceive the insurer or to induce the Ho$ nVo VWm _m¡OyXJr Ho$ ñWmZ H$m {ddaU Cn`wŠV VarHo$ go {dH$bm§JVm intimation. Further, medical examination may be done to validate
Ho$ à_mU Ho$ gmW Omo {H$ {ZJ_ Ho$ {bE g§VmofOZH$ hmo, {ZJ_ Ho$ IM} Ho$ the continuity of disability on case to case basis, if required.
H$aZo Ho$ {bE à^m{dV H$aZo Ho$ BamXo go {H$`m J`m {ZåZ{b{IV _| go H$moB© H$m`©: insurer to issue a life insurance policy:-
{~Zm XoZr hmoJr& gyMZm {_bZo na {ZJ_ Ûmam A{YH¥$V {M{H$ËgH$ Ho$ Ûmam In the event of it being discovered at any time that a claim under
A. gwPmd, {OgH$m VÏ` ghr Zht h¡ VWm {OgH$s g˶Vm na ~r_mYmaH$ H$mo a) the suggestion, as a fact of that which is not true and which the this clause has been wrongly admitted, all premiums falling due
insured does not believe to be true;
~r{_V ì`pŠV H$s Om§M H$s OmEJr VWm {dH$bm§JVm Ho$ Xmdo H$mo à_m{UV {H$`m
{dídmg Zht h¡; after the date of the Corporation’s intimation to that effect shall be
OmEJm& BgHo$ Abmdm, AJa Amdí`H$ hmo Vmo _m_bo Ho$ AZwgma {dH$bm§JVm paid on due dates and further all premiums for which waiver was
b) the active concealment of a fact by the insured having knowledge H$s {ZaÝVaVm H$mo à_m{UV H$aZo Ho$ {bE {M{H$Ëgr` Om§M H$s Om gH$Vr h¡&
~. ~r_mYmaH$ Ûmam {H$gr VÏ` H$mo {N>nmZm, Omo CgH$s OmZH$mar _| Wm `m CgH$s or belief of the fact; wrongly claimed and all instalments of additional sum assured
dmñV{dH$Vm na Cgo {dídmg Wm; AJa {H$gr ^r g_` na kmV hmoVm h¡ {H$ Bg Šbm°O Ho$ A§VJ©V Xmdo H$mo which have been paid to the life assured shall be returned to
c) any other act fitted to deceive; and JbV VarHo$ Ho$ ñdrH$ma {H$`m J`m h¡, Vmo Bg ~mao _| {ZJ_ H$mo gy{MV the Corporation in one lump sum with interest, at such rate as
g. YmoIoY‹S>r Ho$ BamXo go CR>m`m J`m H$moB© AÝ` H$X_; VWm fixed by the Corporation from time to time as if no disability had
d) any such act or omission as the law specially declares to be {H$E OmZo H$s {V{W Ho$ ~mX Xo` g^r àr{_`_m| H$m Xo` {V{W`m| H$mo ^wJVmZ
X. H$moB© AÝ` Eogm H$X_ `m ^yb-MyH$ {Ogo H$mZyZ {deof ê$n go YmoImY‹S>r occurred, failing which
fraudulent. H$aZm hmoJm Am¡a g^r àr{_`_m|, {OZHo$ {bE _m\$s H$m JbV VarHo$ go
_mZVm hmo& BñVo_mb {H$`m J`m Wm VWm A{V[aŠV ~r_m am{e H$s g^r {H$ñV|, {OZH$m (i) the benefits available under the policy shall stand reduced as
Explanation II- Mere silence as to facts likely to affect the assessment if the policy has been discontinued as on the date from which
ñnï>rH$aU II: ~r_mH$Vm© Ûmam Omo{I_ Ho$ Am§H$bZ H$mo à^m{dV H$aZo dmbo VÏ`m| Ho$ of the risk by the insurer is not fraud, unless the circumstances of ^wJVmZ ~r{_V ì`pŠV H$mo {H$`m J`m Wm, {ZJ_ H$mo EH$_wíV aH$_ Ho$ én premiums have been waived or on the payment of the first
the case are such that regard being had to them, it is the duty of the _| g_`-g_` na {ZJ_ Ûmam {ZYm©[aV Xa na {ZJ_ H$mo bm¡Q>mZr hmoJr& O¡go instalment of the additional sum assured, whichever is earlier
~mao _| {gμ\©$ Mwn ahZm YmoImY‹S>r Zht h¡, O~ VH$ {H$ _m_bo H$s n[apñW{V`m§ Eogr
insured or his agent, keeping silence to speak, or unless his silence {H$ H$moB© {dH$bm§JVm hþB© hr Z hmo, {Og_| Ag\$b hmoZo na and
hm|, {H$ ~r_mYmaH$ `m CgHo$ EOoÝQ> H$m `h H$V©ì` hmo {H$ ~mobZo go Mwn ahZm `m
is, in itself, equivalent to speak. (i) nm°{bgr Ho$ A§VJ©V CnbãY {hVbm^m| H$mo Bg àH$ma KQ>m {X`m OmEJm, (ii) the instalments of additional sum assured already paid shall
AÝ`Wm CgH$s Im_moer AnZo Amn _| ~mobZo Ho$ Vwë¶ hmo& O¡go {H$ àr{_`_m| H$s _m\$s H$s {V{W H$mo nm°{bgr H$mo ñW{JV {H$`m be treated as a debt against the said policy and shall be
3. Notwithstanding anything contained in subsection (2), no insurer
3. CnYmam (2) _| Hw$N> ^r {Z{hV hmoZo Ho$ ~mdOyX, H$moB© ^r ~r_mH$Vm© {H$gr OrdZ ~r_m shall repudiate a life insurance policy on the ground of fraud if J`m hmo `m A{V[aŠV ~r_mam{e H$s nhbr {H$ñV Ho$ ^wJVmZ H$s {V{W deducted with interest at such rate as fixed by the Corporation
nm°{bgr H$mo YmoIoY‹S>r Ho$ AmYma na AñdrH¥$V Zht H$a gH$Vm h¡, AJa ~r_mYmaH$/ H$mo, Omo ^r nhbo hmo VWm from time to time from the proceeds of the policy.
the insured can prove that the misstatement of or suppression of
No further instalment/s of additional Accident Benefit Sum
bm^mWu `h à_m{UV H$a gHo$ {H$ CgHo$ Ûmam H$s JB© JbV~`mZr CgH$s A{YH$V_ a material fact was true to the best of his knowledge and belief or (ii) A{V[aŠV ~r_m am{e H$s AXm H$s Om MwH$s {H$ñVm| H$mo CŠV nm°{bgr Assured shall be payable considering as if no disability had
OmZH$mar Ho$ AZwgma ghr Wr Am¡a CgZo OmZ~yPH$a VÏ`m| H$mo {N>nmZo H$s H$mo{ee that there was no deliberate intention to suppress the fact or that na F$U _mZm OmEJm VWm nm°{bgr H$s YZam{e go g_`-g_` na occurred.
Zht H$s `m H${WV JbV~`mZr `m _hÎdnyU© VÏ` H$mo {N>nm`m OmZm ~r_mH$Vm© H$s such misstatement of or suppression of a material fact are within the {ZJ_ Ûmam {ZYm©[aV Xa go ã`mO Ho$ gmW H$mQ> {b`m OmEJm& (b).Death of the Life Assured: In addition to Death Benefit under the
knowledge of the insurer:
OmZH$mar _| Wm& `h _mZVo hþþE {H$ H$moB© {dH$bm§JVm Zht h¡ A{V{aŠV XþK©Q>Zm {hVbm^ ~r_m Base Policy, an additional sum equal to the Accident Benefit Sum
Provided that in case of fraud, the onus of disproving lies upon the am{e Ho$ {bE H$moB© AÝ` {H$ñV/V| Xo` Zht hmoJr& Assured shall be payable under this policy. However, the policy
YmoIoY‹S>r Ho$ _m_bo _| Bgo JbV gm{~V H$aZo H$m Xm{`Ëd bm^m{W©`m| na h¡ AJa beneficiaries, in case the policyholder is not alive. shall have to be in force at the time of accident irrespective of
nm°{bgrYmaH$ Or{dV Zht h¡& (~). ~r{_V ì`pŠV H$s _¥Ë`w: _yb nm°{bgr Ho$ A§VJ©V _¥Ë`w {hVbm^ Ho$ Abmdm, whether or not it is in force at the time of death.
Explanation – A person who solicits and negotiates a contract of Bg nm°{bgr Ho$ A§VJ©V XþþK©Q>Zm {hVbm^ ~r_m am{e Ho$ g_mZ A{V[aŠV
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 insurance shall be deemed for the purpose of the formation of the The Corporation shall not be liable to pay the additional sum
am{e H$m ^wJVmZ {H$`m OmEJm& bo{H$Z nm°{bgr XþþK©Q>Zm Ho$ g_` à^mdr hmoZr referred in (a) or (b) above, if the disability or the death of the Life
h¡ Cgo g§{dXm Ho$ à`moOZ Ho$ {bE ~r_mH$Vm© H$m EOoÝQ> _mZm OmEJm& contract, to be the agent of the insurer. Mm{hE& ^bo hr dh _¥Ë`w Ho$ g_` à^mdr hmo `m Z hmo& Assured shall:
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$ 4. A policy of life insurance may be called in question at any time within AJa ~r{_V ì`pŠV H$s _¥Ë`w {ZåZ H$maUm| go hmo, Vmo {ZJ_ Ûmam D$na (i) be caused by intentional self injury, attempted suicide,
Ama§^ hmoZo H$s {V{W go `m nm°{bgr Ho$ nwZ©MbZ H$s {V{W go `m nm°{bgr Ho$ amBS>a three years from the date of issuance of the policy or the date of CëboI H$s JB© A{V[aŠV ~r_m am{e H$m ^wJVmZ Zht {H$`m OmEJm& insanity or immorality or whilst the Life Assured is under the
commencement of risk or the date of revival of the policy or the date (i) OmZ~yPH$a IwX H$mo O»_r H$aZm, AmË_hË`m H$s H$mo{ee, _mZ{gH$ ê$n influence or consumption of intoxicating liquor, narcotic or
H$s {V{W go VrZ dfm] Ho$ A§Xa, Omo ^r ~mX _| hmo, {H$gr ^r g_`, Bg AmYma na drug (unless prescribed by doctor as a part of treatment); or
of the rider to the policy, whichever is later, on the ground that any
àíZ Ho$ {bE ~wbm`m Om gH$Vm h¡ {H$ ~r{_V ì`pŠV Ho$ OrdZH$mb go g§~§{YV {H$gr go AñdñWVm `m ì`m{^Mma `m ~r{_V ì`pŠV Zeo `m _mXH$ Ðd, S´>J
statement of or suppression of a fact material to the expectancy of (ii) be caused by injuries resulting from taking any part in riots,
VÏ` H$mo àñVmd ànÌ _| `m {H$gr AÝ` H$mJOmV _|, {OgHo$ AmYma na nm°{bgr `m ZmH$m}{Q>H$ Ho$ à^md _| hmo (AJa S>m°ŠQ>a Ûmam CnMma Ho$ A§VJ©V
the life of the insured was incorrectly made in the proposal or other civil commotion, rebellion, war (whether war be declared or
Omar H$s JB© Wr `m nwZ©MbZ H$s JB© Wr `m amBS>a Omar {H$`m J`m Wm, {N>nm`m J`m àoñH«$mB~ Z {H$`m J`m hmo); `m not), invasion, hunting, mountaineering, steeple chasing,
document on the basis of which the policy was issued or revived or
Wm `m JbV {XIm`m J`m Wm& rider issued: (ii) X§Jo, OZ {dÐmoh, ~JmdV, `wÕ (Mmho Kmo{fV {H$`m J`m hmo `m Zht), racing of any kind, paragliding or parachuting, taking part in
AmH«$_U, {eH$ma, nd©VmamohU, ñQ>rnb MoqOJ, {H$gr àH$ma H$s aog, adventurous sports; or
eV© `h h¡ {H$ ~r_mH$Vm© Ûmam ~r_mYmaH$ H$mo `m ~r_mYmaH$ Ho$ H$mZyZr à{V{Z{Y `m Provided that the insurer shall have to communicate in writing to
n¡am½bm`qS>J `m n¡ameyqQ>J, ES>doÝMg© ñnmoQ>©²g _| ^mJ boZm; `m (iii) result from the Life Assured committing any criminal act with
Zm_m§{H$V ì`pŠV`m| `m Aä`{n©Vm| H$mo {b{IV _| CZ AmYmam| VWm VÏ`m| Ho$ ~mao _| the insured or the legal representatives or nominees or assignees criminal intent; or
of the insured the grounds and materials on which such decision to (iii) ~r{_V ì`pŠV Ûmam {H$gr Amnam{YH$ BamXo Ho$ gmW H$moB© Amnam{YH$
gy{MV H$aZm hmoJm, {OZHo$ AmYma na OrdZ ~r_m H$mo nm°{bgr H$mo AñdrH¥$V H$aZo H$m`© H$aZm; `m (iv) (a) arise from employment of the Life Assured in the armed
repudiate the policy of life insurance is based: forces or military service. This exclusion is not applicable
H$m `h \¡$gbm {b`m J`m h¡& (iv) (A) ~r{_V ì`pŠV Ho$ geó ~b `m g¡Ý` godm _| amoOJma Ho$ H$maU
Provided further that in case of repudiation of the policy on the if the Life Assured was involved in an accident when he is
AmJo eV© `h h¡ {H$ _hÎdnyU© VÏ` H$s JbV~`mZr `m {N>nmE OmZo Ho$ AmYma na ground of misstatement or suppression of a material fact, and not on CËnÝZ& `h AndO©Z Cg g_` bmJy Zht h¡ AJa ~r{_V ì`pŠV not on duty or was involved in any rescue operations while
nm°{bgr H$mo AñdrH¥$V {H$E OmZo VWm YmoIoY‹S>r H$s pñW{V Z hmoZo na, AñdrH¥${V the ground of fraud the premiums collected on the policy till the date Cg g_` XþþK©Q>ZmJ«ñV hmoVm h¡ O~ dh S>çyQ>r na Zht Wm `m h_mao combating natural calamities in our country; or
H$s {V{W VH$ nm°{bgr na O_m {H$E JE g^r àr{_`_m| H$m ^wJVmZ ~r_mYmaH$ `m of repudiation shall be paid to the insured or the legal representatives Xoe _| {H$gr àmH¥${VH$ AmnXm H$m _wH$m~bm H$aVo g_` {H$gr amhV (b) arise from being engaged in police duty (which excludes
or nominees or assignees of the insured within a period of ninety H$m`© _| em{_b Wm, `m administrative assignments) in any police organization
~r_mYmaH$ Ho$ H$mZyZr à{V{Z{Y `m Zm{_Vm| `m Aä`{n©Vm| H$mo Eogr AñdrH¥${V H$s {V{W other than paramilitary forces. This exclusion is not
go Zã~o {XZm| Ho$ A§Xa H$a {X`m OmEJm& days from the date of such repudiation. (~) AÕ©g¡{ZH$ ~b H$mo N>mo‹S>H$a {H$gr nw{bg g§JR>Z _| nw{bg S>çyQ>r _|
applicable where the option to cover Accidental Death
Explanation. - For the purposes of this sub-section, the misstatement em{_b hmoZo Ho$ H$maU ({Og_| àemg{ZH$ H$m`©^ma em{_b Zht h¡)& `h and Disability Benefit arising on accident while engaged
ñnï>rH$aU - Bg Cn-Ymam Ho$ à`moOZ hoVw, {H$gr VÏ` H$s JbV~`mZr `m {N>nmE of or suppression of fact shall not be considered material unless it AndO©Z V~ bmJy Zht h¡ O~ nw{bg S>çyQ>r _| em{_b hmoZo Ho$ H$maU in police duty, has been chosen; or
OmZo H$mo V~ VH$ _hÎdnyU© Zht _mZm OmEJm, O~ VH$ {H$ CgH$m ~r_mH$Vm© Ûmam has a direct bearing on the risk undertaken by the insurer, the onus XþþK©Q>Zm Ho$ {bE XþþK©Q>ZmË_H$ _¥Ë`w VWm AeŠVVm {hVbm^ g§ajU Ho$ (v) occur after 180 days from the date of accident of the Life
ñdrH$ma {H$E JE Omo{I_ na H$moB© àË`j à^md Z hmo, `h à_m{UV H$aZo H$m Xm{`Ëd is on the insurer to show that had the insurer been aware of the said {dH$ën H$mo MwZm J`m hmo; `m Assured.
~r_mH$Vm© H$m hmoJm {H$ AJa ~r_mH$Vm© H$mo ñWm{nV VÏ` H$s OmZH$mar hmoVr Vmo dh fact no life insurance policy would have been issued to the insured. (v) ~r{_V ì`pŠV H$s XþK©Q>Zm H$s {V{W go 180 {XZm| Ho$ ~mX Benefits payable
p y on surrender of Base Policy:y This rider shall not
~r_mYmaH$ H$mo `h OrdZ ~r_m nm°{bgr Omar Zht H$aVm& 5. Nothing in this section shall prevent the insurer from calling for proof K{Q>V hmoZm& acquire any Paid-up Value and no surrender value will be available
of age at any time if he is entitled to do so, and no policy shall be _yyb nm°{bgr Ho$ Aä¶n©U na Xo` {hVbm^: h `h amBS>a H$moB© MwH$Vm _yë` àmßV under this rider. However, if this rider has been opted for and on
5. Bg Ymam _| {Z{hV Hw$N> ^r ~r_mH$Vm© H$mo {H$gr ^r g_` C_« H$m à_mU _m§JZo go surrender of the Base Policy to which this rider is attached, provided
Zht amoH$Vr h¡, AJa dh BgHo$ {bE A{YH¥$V h¡ VWm {H$gr nm°{bgr H$s {gμ\©$ Bg{bE deemed to be called in question merely because the terms of the Zht H$aoJm VWm Bg amBS>a Ho$ A§VJ©V H$moB© Aä¶n©U _yë` CnbãY Zht hmoJm. all the due premiums in respect of this rider and Base Policy have
policy are adjusted on subsequent proof that the age of the life bo{H$Z AJa Bg amBS>a H$mo MwZm J`m hmo Am¡a Cg _yb nm°{bgr H$mo Aä¶n©U been paid and the Base Policy has acquired surrender value,
àíZ Ho$ {bE ~wbm`m Zht Om gH$Vm h¡ Š`mo§{H$ àñVmd _| JbV CëboI H$s JB© ~r{_V insured was incorrectly stated in the proposal. {H$E OmZo na, {Oggo `h amBS>a Ow‹S>m hmo, ~eV] Bg amBS>a VWm _yb nm°{bgr additional rider premium charged in respect of cover after premium
ì`pŠV H$s C_« H$mo g~yV Ho$ AmYma na ~mX _| g_m`mo{OV {H$`m J`m Wm& go g§~§{YV g^r Xo` àr{_`_m| H$m ^wJVmZ H$a {X`m J`m hmo VWm _yb nm°{bgr paying term shall be refunded as follows:
Zo gaoÝS>a _yë` àmßV H$a {b`m hmo, àr{_`_ ^wJVmZ Ad{Y Ho$ ~mX g§ajU Ho$ In case of Surrender during Premium Paying Term: 80% *
g§~§Y _| {b`m J`m A{V[aŠV amBS>a àr{_`_ {ZåZ AZwgma bm¡Q>m {X`m OmEJm: (annualised rider premium per Rs. 1000 Accident Benefit Sum
àr{_`_ ^wJVmZ Ad{Y Ho$ Xm¡amZ Aä¶n©U H$s pñW{V _|: 80%* (dm{f©H$sH¥$V amBS>a Assured – 1) * (Accident Benefit Sum Assured/1000) * (Number of
years for which premiums in respect of this rider have been paid)
àr{_`_ à{V `1000 XþþK©Q>Zm {hVbm^ ~r_m am{e -1)* (XþþK©Q>Zm {hVbm^ ~r_m
In case of Surrender after Premium Paying Term: 80% * (annualised
am{e/1000)* (dfm] H$s g§»`m, {OZHo$ {bE Bg amBS>a Ho$ g§~§Y _| àr{_`_m| rider premium per Rs. 1000 Accident Benefit Sum Assured – 1) *
H$m ^wJVmZ {H$`m J`m h¡)
28177 Jeevan Labh Policy document_21-01.indd Spread 6 of 8 - Pages(6, 11) 15-02-2016 05:11:45
n[a{eîQ> I Annexure I ^mJ - X: godm àXmZ H$aZo Ho$ nhby h y go g§~§{YV eV] higher than such age, without prejudice to the Corporation’s other
Assignment – As per section 38 of the Insurance Act, 1938, as rights and remedies, including those under the Insurance Act, 1938,
~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ûmam `Wmg§emo{YV ~r_m A{Y{Z`_, 1938 1. C_« H$m à_mU: àñVmd ànÌ _| Kmo{fV H$s JB© ~r{_V ì`pŠV H$s C_« na àr{_`_ the premiums shall be payable in such case at the rate calculated on
amended by Insurance Laws (Amendment) Act, 2015 H$s JUZm hmo OmZo Ho$ níMmV `{X C_« Cg C_« go A{YH$ nm`r OmVr h¡ Vmo {~Zm
Ymam 38 AZwgma the Basic Sum Assured and Rider(s) Sum Assured, if opted for, for
1. A transfer or assignment of a policy of insurance, wholly or in part, {H$gr nydm©J«h ~r_m A{Y{Z`_ 1938 Ho$ A§VJ©V CnbãY A{YH$mam| Am¡a CnMmam| the correct age at entry, and the accumulated difference between the
1. ~r_m nm°{bgr H$m A§VaU `m Aä`n©U, nyU©V: `m A§eV: à{V\$bg{hV `m BgHo$ whether with or without consideration, may be made only by an g{hV {ZJ_ Ho$ AÝ` A{YH$mam| Am¡a CnMmam| H$mo j{V nhþþ§MmE {~Zm, Eogo _m_bo _| premiums for the correct age and the original premiums, from the
{~Zm, Ho$db nm°{bgr na hr n¥ð>m§H$Z `m AbJ go B§ñQ¯>_oÝQ> Ûmam {H$gr ^r _m_bo endorsement upon the policy itself or by a separate instrument, àr{_`_ g_` ghr C_« Ho$ AmYma na _yb ~r_mam{e Am¡a amBS>g© ~r_mam{e, AJa commencement of the Policy upto the date of such payment shall
_| A§VaUH$Vm© `m Aä`n©UH$Vm© `m CZHo$ A{YH¥$V EOoÝQ> Ûmam {H$`m Om gH$Vm signed in either case by the transferor or by the assignor or his duly {b`m J`m hmo Vmo, Ho$ {bE {ZH$mbr JB© Xa go Xo` hmoJm Am¡a ~r{_V ì`pŠV/àñVmdH$ be paid to the Corporation with interest at such rate as fixed by the
authorised agent and attested by at least one witness, specifically Corporation from time to time. However, in case the Life Assured/
h¡, {Ogo H$_ go H$_ EH$ gmjr Ûmam gË`m{nV {H$`m OmZm Mm{hE, {deof ê$n {ZJ_ H$mo nm°{bgr Ama§^ hmoZo go boH$a Eogo ^wJVmZ H$s {V{W VH$ _yb àr{_`_ Am¡a Proposer continues to pay the premiums at the rates shown herein,
go A§VaU `m Aä`n©U Ho$ VÏ` Am¡a H$maU, Aä`{n©Vr Ho$ nyd©d¥Îm Am¡a Aä`n©U setting forth the fact of transfer or assignment and the reasons ghr C_« Ho$ {bE àr{_`_ Ho$ ~rM A§Va H$s g§{MV am{e Am¡a Cg na Cgr Ad{Y and also does not pay the above mentioned accumulated debt, the
thereof, the antecedents of the assignee and the terms on which the Ho$ {bE {ZJ_ Ûmam Cg g_` àM{bV {ZYm©[aV Xa na ã`mO g{hV ^wJVmZ H$aoJm&
H$s eVm] H$m CëboI H$aVo hþE& accumulated difference between the premiums for the correct age
assignment is made. VWm{n, àmdYmZ h¡ {H$ `{X ~r{_V ì`pŠV àñVmdH$ Bg_| Cpëb{IV àr{_`_ H$s Xa and the original premiums from the commencement of this Policy
2. ~r_mH$Vm© Cn-Ymam (1) Ho$ A§VJ©V {H$E JE {H$gr A§VaU `m Aä`n©U H$mo ñdrH$ma 2. An insurer may, accept the transfer or assignment, or decline to go ^wJVmZ H$aVm aho Am¡a Cn`wŠV g§{MV F$U am{e H$m ^wJVmZ Z H$ao Vmo nm°{bgr up to the date on which the Policy becomes a claim, with interest
H$a gH$Vm h¡ `m {H$gr n¥ð>m§H$Z H$mo ñdrH$ma H$aZo go _Zm H$a gH$Vm h¡, AJa act upon any endorsement made under sub-section(1), where it àma§^ hmoZo H$s {V{W go nm°{bgr Ho$ Xmdm ~ZZo H$s {V{W VH$ ghr C_« Ho$ àr{_`_ on each instalment of such difference at such rate as may be fixed
CgHo$ nmg `h _mZZo H$m n`m©ßV H$maU hmo {H$ `h A§VaU `m Aä`n©U dmñV{dH$ has sufficient reason to believe that such transfer or assignment is Am¡a _yb àr{_`_ Ho$ ~rM A§Va H$s g§{MV am{e Am¡a Eogo A§Va H$s àË`oH$ {H$ñV by the Corporation from time to time, shall accrue and be treated as
not bonafide or is not in the interest of the policy-holder or in public a debt due by the Life Assured / Proposer against the said Policy
Zht h¡ `m nm°{bgrYmaH$ Ho$ {hV _| `m OZ{hV ‘| Zht h¡ `m ~r_m nm°{bgr H$s na Xmdo Ho$ g_` àM{bV Xa go ã`mO Ho$ gmW Xo` hmoJr& Cgo nm°{bgr na ~r{_V and shall be deducted from the Policy moneys payable on the Policy
Q´>oqS>J Ho$ à`moOZ hoVw h¡ & interest or is for the purpose of trading of insurance policy. ì`pŠV/àñVmdH$ Ûmam Xo` F$U _mZm OmEJm VWm nm°{bgr Ho$ A§VJ©V Xmdm hmoZo na becoming a claim.
3. The insurer shall, before refusing to act upon the endorsement, nm°{bgr YZam{e go H$mQ> {b`m OmEJm&
3. ~r_mH$Vm©, n¥ð>m§H$Z na A_b H$aZo go BÝH$ma H$aZo go nhbo AnZr AñdrH¥${V Ho$ Provided further that if the Life Assured’s correct age at entry is such
record in writing the reasons for such refusal and communicate the `h ^r àmdYmZ h¡ {H$ `{X àdoe Ho$ g_` ~r{_V ì`pŠV H$s ghr C_« Eogr hmo as would have made him/her uninsurable under the class or terms of
H$maU H$mo {b{IV _| XO© H$aoJm VWm nm°{bgrYmaH$ Ûmam Eogo A§VaU `m Aä`n©U same to the policyholder not later than thirty days from the date of the Vmo CŠV Vm{bH$m _| {Z{X©ï> ~r_m dJ© AWdm eVm] Ho$ AYrZ Cgo ~r_m Ho$ {bE assurance specified in the said Schedule hereto, the class or terms
H$m Zmo{Q>g XoZo H$s {V{W go 30 {XZm| Ho$ A§Xa Eogr AñdrH¥${V go nm°{bgrYmaH$ policyholder giving notice of such transfer or assignment. A`mo½` ~Zm Xo Vmo CgH$mo ~r_m Ho$ Ama§^ _| àM{bV àWm Ho$ AZwgma {ZJ_ Ûmam shall stand altered to such Plan of Assurance as are granted by the
H$mo gy{MV H$aoJm& 4. Any person aggrieved by the decision of an insurer to decline to àXmZ {H$E OmZo dmbo ~r_m dJ© AWdm eVm] _| n[ad{V©V H$a {X`m OmEJm, Omo Corporation according to the practice in force at the commencement
act upon such transfer or assignment may within a period of thirty {H$ nm°{bgrYmaH$ H$s gh_{V Ho$ AYrZ hmoJr, AÝ`Wm nm°{bgr H$mo aÔ H$a {X`m of this policy subject to the consent of the Policyholder, otherwise the
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 policy will be cancelled.
H$moB© ì`pŠV ~r_mH$Vm© go H$maU g{hV BÝH$ma H$s gyMZm {_bZo H$s {V{W go 30 days from the date of receipt of the communication from the insurer OmEJm&
containing reasons for such refusal, prefer a claim to the Authority. 2. Forfeiture and Non-forfeiture Regulations:
{XZm| Ho$ A§Xa àm{YH$mar Ho$ nmg AnZm Xmdm aI gH$Vm h¡& 2. OãVr VWm J¡a-OãVr g§~§Yr H$mZyZ :
5. Subject to the provisions in sub-section (2), the transfer or Forfeiture Regulations:
5. Cn-Ymam (2) Ho$ àmdYmZm| Ho$ AYrZ, A§VaU `m Aä`n©U nyU© hmoJm VWm Eogo OãVr g§~§Yr H$mZyZ:
assignment shall be complete and effectual upon the execution of i. If less than three years’ premiums have been paid and any
n¥ð>m§H$Z `m {d{YdV gË`m{nV B§ñQ¯>_oÝQ> na A_b à^mdr hmoJm, {gdm` dhm§ Ohm§ such endorsement or instrument duly attested but except, where the i) AJa 3 dfm] go H$‘ àr{‘¶‘ AXm {H$¶o J¶o hm| Am¡a Cg Ho$ ~mX Ho$ àr{‘¶‘m| H$m subsequent premium be not duly paid, all the benefits shall
A§VaU `m Aä`n©U ~r_mH$Vm© Ho$ nj _| h¡, ~r_mH$Vm© Ho$ {dê$Õ à^mdr Z hmoJm, transfer or assignment is in favour of the insurer, shall not be operative ^wJVmZ Z {H$¶m J¶m hmo Vmo nhbo AXÎm àr{‘¶‘ H$s {VWr go [a¶m¶Vr Ad{Y H$s cease after the expiry of grace period from the date of first unpaid
as against an insurer, and shall not confer upon the transferee or g‘mpßV Ho$ ~mX Bg nm°{bgr Ho$ A§VJ©V g^r bm^ g‘mßV hmo OmEJ| Am¡a Hw$N> ^r premium and nothing shall be payable , and the Premiums paid
VWm `h A§V[aVr `m Aä`{n©Vr `m CZHo$ H$mZyZr à{V{Z{Y H$mo Eogr nm°{bgr Ho$ thitherto are also not refundable.
assignee, or his legal representative, any right to sue for the amount OmEJ|J &
Xo¶ Zht hmoJm Am¡a AXm {H$E JE àr{‘¶‘ ^r Zht bm¡Q>mE OmEJ|&
A§VJ©V am{e Ho$ {bE H$mZyZr Xmdm H$aZo `m CZHo$ Ûmam YZam{e H$mo gwa{jV H$aZo ii. Forfeiture in Certain Other Events: In case any condition herein
of such policy or the moneys secured thereby until a notice in writing ii) Hw$N> Aݶ KQ>ZmAm| ‘| OãVr: ¶hm± {Z{hV ¶m n¥îR>m§{H$V {H$gr n[apñW{V Ho$
H$m A{YH$ma Zht XoVm h¡& O~ VH$ {H$ A§VaU `m Aä`n©U H$m {b{IV _| Zmo{Q>g of the transfer or assignment and either the said endorsement or contained or endorsed hereon be contravened or in case it is found
Cëb§{KV hmoZo H$s pñW{V ‘| ¶m Bg àñVmd ‘|, {H$gr {ZOr H$WZ, KmofUm that any untrue or incorrect statement is contained in the proposal,
`m CŠV n¥ð>m§H$Z `m B§ñQ¯>_oÝQ> H$s à{V, {Ogo A§VaUH$Vm© VWm A§V[aVr XmoZm| `m instrument itself or a copy thereof certified to be correct by both VWm g§~§{YV H$mJμOmVm| ‘| H$moB© Ag˶ ¶m JbV H$WZ nm¶o OmZo na ¶m {H$gr
CZHo$ {d{YdV A{YH¥$V EOoÝQ²>g Ûmam gË` hmoZo Ho$ {bE gË`m{nV {H$`m J`m hmo, transferor and transferee or their duly authorised agents have been personal statement, declaration and connected documents or
‘hËdnyU© OmZH$mar Ho$ Zht ~Vm¶o OmZo H$s pñW{V ‘| Ed§ à˶oH$ Eogr pñW{V ‘| any material information is withheld, then and in every such case
~r_mH$Vm© H$mo gm¢nm Zht OmVm h¡& delivered to the insurer: nm°{bgr A‘mݶ hmo OmEJr Ed§ Eogr nm°{bgr Ho$ ’$bñdê$n {H$gr ^r {hVbm^ Ho$ this policy shall be void and all claims to any benefit in virtue of
~eV] Ohm§ ~r_mH$Vm© Ho$ ^maV _| EH$ `m A{YH$ H$mamo~ma Ho$ ñWmZ hmo, dhm§ Provided that where the insurer maintains one or more places of g^r Xmdo g‘¶-g‘¶ na g§emo{YV ~r‘m A{Y{Z¶‘, 1938 H$s Ymam 45 Ho$ this policy shall be subject to the provisions of Section 45 of the
business in India, such notice shall be delivered only at the place àmdYmZm| Ho$ AYrZ hm|Jo &$ Insurance Act, 1938, as amended from time to time.
Zmo{Q>g H$mo Ho$db dht na {X`m OmZm h¡, Ohm§ go nm°{bgr H$mo godm àXmZ H$s Om where the policy is being serviced.
J¡a OãVr g§~§Yr H$mZyZ: Non-forfeiture Regulations:
ahr h¡&
6. The date on which the notice referred to in sub-section (5) is delivered If, after atleast three full years’ premiums have been paid and any
6. {Og {V{W H$mo Cn-Ymam (5) _| g§X[^©V Zmo{Q>g ~r_mH$Vm© H$mo gwnwX© {H$`m OmVm bo{H$Z AJa, H$_ go H$_ nyao VrZ gmbm| Ho$ àr{_`_m| H$m ^wJVmZ H$aZo Ho$ ~mX,
to the insurer shall regulate the priority of all claims under a transfer subsequent premiums be not duly paid, this policy shall not be
AJbo àr{_`_m| H$m ^wJVmZ Zht {H$`m OmVm h¡, Vmo `h nyar Vah go A_mÝ` Zht wholly void, but shall subsist as a paid-up policy.
h¡, Cggo dh nm°{bgr _| {hV aIZo dmbo g^r ì`pŠV`m| Ho$ ~rM A§VaU `m or assignment as between persons interested in the policy; and
where there is more than one instrument of transfer or assignment
hmoJr, ~pëH$ MwH$Vm nm°{bgr H$m ê$n bo boJr&
Aä`n©U Ho$ A§VJ©V g^r Xmdm| Ho$ {bE àmW{_H$Vm H$mo {d{Z`{_V H$aoJr, VWm The Sum Assured on Death under a paid-up policy shall be reduced
the priority of the claims under such instruments shall be governed MwH$Vm nm°{bgr Ho$ A§VJ©V “_¥Ë`w na ~r_m am{e” H$mo EH$ Eogr am{e Ho$ ê$n _| KQ>m to such a sum, called ‘Death Paid-up Sum Assured’ and shall be
Ohm§ A§VaU `m Aä`n©U Ho$ EH$ go A{YH$ B§ñQ¯>_oÝQ> hm| dhm§ Eogo B§ñQ¯>_oÝQ²>g Ho$ {X`m OmEJm, {Ogo “_¥Ë`w na MwH$Vm ~r_m am{e” H$hm OmEJm VWm `h [(AXm {H$E
by the order in which the notices referred to in sub-section (5) are equal to [Sum Assured on Death * (Number of premiums paid / Total
A§VJ©V Xmdm| H$s àmW{_H$Vm Cg H«$_ Ûmam em{gV hmoJr, {Og_| Cn-Ymam (5) delivered: JE Hw$b àr{_`_/àr{_`_ ^wJVmZ Ad{Y Ho$ Xm¡amZ Xo` àr{_`_m| H$s Hw$b g§»`m) Number of premiums payable during the Premium Paying Term)].
_| g§X{^©V Zmo{Q>g gwnwX© {H$E JE h¢& x _¥Ë`w na ~r_m am{e] Ho$ g_mZ hmoJr& The Sum Assured on Maturity under a paid-up policy shall be
Provided that if any dispute as to priority of payment arises as
Aä`{n©Vm| Ho$ ~rM ^wJVmZ H$s àmW{_H$Vm Ho$ ~mao _| H$moB© {ddmX CËnÝZ hmoZo na between assignees, the dispute shall be referred to the Authority. MwH$Vm nm°{bgr Ho$ A§VJ©V n[anŠdVm na ~r_m am{e KQ> OmEJr VWm Bg am{e H$mo reduced to such a sum called ‘Maturity Paid-up Sum Assured’ and
Cgo àm{YH$mar H$mo g§X{^©V {H$`m OmEJm& “n[anŠdVm na MwH$Vm ~r_m am{e” H$hm OmEJm Am¡a `h [(AXm {H$E JE Hw$b àr{_`_/ shall be equal to [Sum Assured on Maturity * (Number of premiums
7. Upon the receipt of the notice referred to in sub-section (5), the paid / Total Number of premiums payable during the Premium Paying
7. Cn-Ymam (5) _| g§X{^©V Zmo{Q>g Ho$ àmßV hmoZo na, Eogo A§VaU `m Aä`n©U Ho$ insurer shall record the fact of such transfer or assignment together àr{_`_ ^wJVmZ Ad{Y Ho$ Xm¡amZ Xo` àr{_`_m| H$s Hw$b g§»`m) x (n[anŠdVm na Term)].
with the date thereof and the name of the transferee or the assignee ~r_m am{e)] Ho$ g_mZ hmoJr&
VÏ` H$mo CgH$s {V{W VWm A§V[aVr `m Aä`{n©Vr Ho$ Zm_ Ho$ gmW XO© H$aoJm If a policy continues as a paid up policy the same shall not be
and shall, on the request of the person by whom the notice was given AJa nm°{bgr MwH$Vm nm°{bgr Ho$ én _| Omar ahVr h¡ Vmo ^{dî` Ho$ bm^mo _| entitled to participate in future profits. However, the vested simple
VWm Zmo{Q>g XoZo dmbo ì`pŠV Ûmam AZwamoY {H$E OmZo na, `m AJa A§V[aVr `m or of the transferee or assignee, on payment of such fee as may ^mJrXmar H$s nmÌ Zht hmoJr& hmbm§{H$ AJa H$moB© {Z{hV gab àË`mdVu ~moZg hmo, reversionary bonuses, if any, shall remain attached to the reduced
Aä`{n©Vr, {d{Z`_m| Ûmam {ZYm©[aV H$s JB© \$sg Ho$ ^wJVmZ na, Eogo Zmo{Q>g Ho$ be specified by the regulations, grant a written acknowledgement of Vmo do KQ>r hþB© MwH$Vm nm°{bgr go Ow‹S>o ah|Jo& paid up policy.
àmßV hmoZo H$s {b{IV nmdVr XoVm h¡; Am¡a Eogr {H$gr nmdVr H$mo ~r_mH$Vm© Ho$ the receipt of such notice; and any such acknowledgement shall be Notwithstanding what is stated above, if atleast 3 full years’ premiums
CnamoŠV CëboI {H$E JE Ho$ ~mdOyX, AJa Bg nm°{bgr Ho$ A§VJ©V H$_ go H$_ nyao 3
{dê$Õ Bg ~mV H$m {ZîH$fu gmú` _mZm OmEJm {H$ Cgo nmdVr go g§~§{YV Zmo{Q>g conclusive evidence against the insurer that he has duly received the have been paid in respect of this policy, and any subsequent premium
notice to which such acknowledgment relates.
dfm] Ho$ àr{_`_m| H$m ^wJVmZ {H$`m J`m hmo, Am¡a CgHo$ ~mX Ho$ àr{_`_ H$m ^wJVmZ
{d{YdV àmßV hþAm h¡& Z {H$`m J`m hmo, Vmo nhbo ^wJVmZ Z {H$E JE àr{_`_ H$s Xo` {V{W go N>: _hrZo be not duly paid, in the event of the death of the Life Assured within
8. Subject to the terms and conditions of the transfer or assignment, the six months from the due date of first unpaid premium, “Sum Assured
8. A§VaU `m Aä`n©U Ho$ {Z`_m| VWm eVm] Ho$ AYrZ, ~r_mH$Vm© Ûmam, Cn-Ymam Ho$ A§Xa ~r{_V ì`pŠV H$s _¥Ë`w hmoZo na “_¥Ë`w na Xo` ~r_m am{e” H$m ^wJVmZ, on Death” along with vested simple reversionary bonuses, and Final
insurer shall, from the date of the receipt of the notice referred to in {Z{hV gab àË`mdVu ~moZgm|, VWm A§{V_ A[V[aŠV ~moZgm| AJa H$moB© hmo, Ho$ gmW
(5) _| g§X{^©V Zmo{Q>g H$s àmpßV H$s {V{W go, nm°{bgr Ho$ A§VJ©V bm^ Ho$ sub-section (5), recognize the transferee or assignee named in the Additional Bonuses, if any, will be paid after deduction of (a) the
nmÌ A§V[aVr `m Aä`{n©Vr H$s nhMmZ H$aoJm `m Eogm ì`pŠV CZ g^r Xm{`VmAm| (A) _yb nm°{bgr hoVw _¥Ë`w H$s {V{W VH$ AXm Z {H$E JE àr{_`_m| Am¡a CZ na premium(s) for the base policy unpaid with interest thereon upto
notice as the absolute transferee or assignee or entitled to benefit
bJZo dmbm ã`mO, CÝht eVm] na Omo {H$ Bgr Ad{Y Ho$ {bE nm°{bgr Ho$ nwZMm©bZ the date of death, on the same terms as for revival of the Policy
VWm BpŠd{Q>`m| Ho$ AYrZ hmoJm, {OgH$m {H$ A§VaU `m Aä`n©U H$s {V{W H$mo under the policy, and such person shall be subject to all liabilities and
na hmo VWm (~) AJbr nm°{bgr df©Jm§R> go nhbo Xo` hmoZo dmbm _yb nm°{bgr Ho$ {bE during such period and (b) the balance premium(s) for the base
A§VaUH$Vm© `m Aä`n©UH$Vm© nmÌ Wm VWm dh nm°{bgr Ho$ g§~§Y _| H$moB© H$ma©dmB© equities to which the transferor or assignor was subject at the date policy falling due from the date of death and before the next policy
of the transfer or assignment and may institute any proceedings in
AXm Z {H$E JE àr{_`_ H$mo KQ>mH$a {H$`m OmEJm&
H$a gH$Vm h¡, dh nm°{bgr Ho$ A§VJ©V F$U àmßV H$a gH$Vm h¡ `m A§VaUH$Vm© anniversary.
relation to the policy, obtain a loan under the policy or surrender the CnamoŠV CëboI {H$E JE Ho$ ~mdOyX, AJa Bg nm°{bgr Ho$ A§VJ©V H$_ go H$_ nyao 5
`m Aä`n©UH$Vm© H$s gh_{V àmßV {H$E {~Zm nm°{bgr H$mo gaoÝS>a H$a gH$Vm h¡ dfm] Ho$ àr{_`_m| H$m ^wJVmZ {H$`m J`m hmo, Am¡a CgHo$ ~mX Ho$ àr{_`_ H$m ^wJVmZ Notwithstanding what is stated above, if at least 5 full years’
policy without obtaining the consent of the transferor or assignor or premiums have been paid in respect of this policy, and any
`m Cgo Eogr H$ma©dmB© H$m EH$ nj ~Zm gH$Vm h¡& making him a party to such proceedings. Z {H$`m J`m hmo, Vmo nhbo ^wJVmZ Z {H$E JE àr{_`_ H$s Xo` {V{W go 12 _hrZo subsequent premium be not duly paid, in the event of death of the
ñnï>rH$aU - {gdm` BgHo$ {H$ Ohm§ Cn-Ymam (1) _| g§X[^©V n¥ð>m§H$Z ñnï> ê$n Explanation – Except where the endorsement referred to in sub- Ho$ A§Xa ~r{_V ì`pŠV H$s _¥Ë`w hmoZo na “_¥Ë`w na Xo` ~r_m am{e” H$m ^wJVmZ, Life Assured within 12 months from the first unpaid premium, “Sum
go CëboI H$aVm hmo {H$ Aä`n©U `m A§VaU, `hm§ Xr JB© Cn-Ymam (10) Ho$ section (1) expressly indicates that the assignment or transfer is {Z{hV gab àË`mdVu ~moZgm|, VWm A§{V_ A{V[aŠV ~moZgm| AJa H$moB© hmo, Ho$ gmW Assured on Death” along with vested Simple Reversionary Bonuses
conditional in terms of subsection (10) hereunder, every assignment (A) _yb nm°{bgr hoVw _¥Ë`w H$s {V{W VH$ AXm Z {H$E JE àr{_`_m| Am¡a CZ na and Final Additional Bonus, if any, will be paid after deduction of
A§VJ©V geV© h¡, àË`oH$ Aä`n©U `m A§VaU H$mo nyU© Aä`n©U `m A§VaU _mZm (a) the premium(s) for the base policy unpaid with interest thereon
or transfer shall be deemed to be an absolute assignment or transfer bJZo dmbm ã`mO, CÝhr eVm] na Omo {H$ Bgr Ad{Y Ho$ {bE nm°{bgr Ho$ nwZMm©bZ
OmEJm VWm Aä`{n©Vr `m A§V[aVr H$mo, O¡gr ^r pñW{V hmo, H«$_e: nyU© Aä`{n©Vr na hmo VWm (~) AJbr nm°{bgr df©Jm§R> go nhbo Xo` hmoZo dmbm _yb nm°{bgr Ho$ {bE upto the date of death, on the same terms as for revival of the Policy
and the assignee or transferee, as the case may be, shall be deemed
`m A§V[aVr _mZm OmEJm& AXm Z {H$E JE àr{_`_ H$mo KQ>mH$a {H$`m OmEJm& during such period and (b) the balance premium(s) for the base
to be the absolute assignee or transferee respectively. policy falling due from the date of death and before the next policy
9. ~r_m H$mZyZ (g§emoYZ) AÜ`mXoe 2015 Ho$ Ama§^ hmoZo go nhbo {H$E JE {H$gr 9. Any rights and remedies of an assignee or transferee of a policy of `o àmdYmZ d¡H$pënH$ amBS>a na bmJy Zht hmoVo h¡ Š`m|{H$ do H$moB© MwH$Vm _yë` anniversary.
Aä`n©U `m A§VaU go OrdZ ~r_m H$s nm°{bgr Ho$ {H$gr Aä`{n©Vr `m A§V[aVr life insurance under an assignment or transfer effected prior to the àmßV Zht H$aVo h¡ Am¡a nm°{bgr Ho$ H$mbmVrV AdñWm _| hmoZo na amBS>a {hVbm^ These provisions do not apply to optional Rider(s) as they do not
Ho$ A{YH$ma d CnMma Bg Ymam Ho$ àmdYmZm| Ûmam à^m{dV Zht hm|Jo& commencement of the Insurance Laws (Amendment) Act, 2015 shall g_mßV hmo OmVo h¢& acquire any paid up value and the rider benefit ceases to apply, if
not be affected by the provisions of this section. 3. H$mbmVrV nm°{b{g`m| H$m nwZ©MbZ: AJa [a`m`Vr {XZm| Ho$ A§Xa àr{_`_ H$m ^wJVmZ policy is in lapsed condition.
10. {H$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 _| Aä`n©U Bg Xem _| {H$`m Om gH$Vm h¡ {H$ 10. Notwithstanding any law or custom having the force of law to the Z H$aZo Ho$ H$maU nm°{bgr H$mbmVrV hmo J`r hmo, Vmo Bgo AXm Z {H$E JE nhbo 3. Revival of lapsed Policies: If the Policy has lapsed due to non
contrary, an assignment in favour of a person made upon the àr{_`_ H$s {V{W go bJmVma 2 dfm] H$s Ad{Y Ho$ A§Xa, _Ja ~r{_V ì`pŠV payment of due premium within the days of grace, it may be
A. nm°{bgr Ho$ A§VJ©V YZam{e nm°{bgrYmaH$ `m Zm{_V ì`pŠV `m Zm{_V condition that - Ho$ OrdZH$mb Ho$ Xm¡amZ {\$a go ~hmb {H$`m Om gH$Vm h¡& Omo {H$ {ZJ_ H$mo revived during the life time of the Life Assured, but within a period
ì`pŠV`m| H$mo Cg Xem _| Xo` hmo gH$Vr h¡ AJa Aä`{n©Vr `m A§V[aVr H$s ~r{_V ì`pŠV Am¡a/`m àñVmdH$ (AJa àr{_`_ _m\$s {hVbm^ amBS>a MwZm hmo) of 2 consecutive years from the date of the first unpaid premium,
a. The proceeds under the policy shall become payable to the on submission of proof of continued insurability to the satisfaction
_¥Ë`w ~r_mYmaH$ go nhbo hmo OmVr h¡; `m policyholder or the nominee or nominees in the event of either the g§VmofàX, {ZaÝVa ~r_m `mo½`Vm H$m à_mU àñVwV H$aZo VWm VWm g_`-g_` of the Corporation and the payment of all the arrears of premium
~. ~r_mYmaH$ nm°{bgr H$s Ad{Y VH$ Or{dV ahVm h¡, _mÝ` hmoJm: assignee or transferee predeceasing the insured; or na {ZJ_ Ûmam {ZYm©[aV Xa na ã`mO Ho$ gmW (N>_mhr MH«$d¥{Õ Xa go) àr{_`åg together with interest (compounding half-yearly) at such rate as
b. The insured surviving the term of the policy , shall be valid: H$s g^r ~H$m`m am{e`m| H$m ^wJVmZ H$aZo na ~hmb hmoJr& bo{H$Z {ZJ_ Ho$ nmg fixed by the Corporation from time to time. The Corporation however,
VWm{n geV© Aä`{n©Vr nm°{bgr H$mo gaoÝS>a H$aZo `m nm°{bgr na bmoZ boZo ñW{JV nm°{bgr H$mo {\$a go ~hmb H$aZo H$mo _yb eVm] na ñdrH$ma H$aZo, g§emo{YV reserves the right to accept at original terms, accept with modified
H$m nmÌ Zht hmoJm& Provided that a conditional assignee shall not be entitled to obtain terms or decline the revival of a discontinued policy. The revival of the
eVm] Ho$ gmW ñdrH$ma H$aZo `m AñdrH$ma H$aZo H$m A{YH$ma gwa{jV h¡& ñW{JV
a loan on the policy or surrender a policy. discontinued policy shall take effect only after the same is approved
11. Cn-Ymam (1) Ho$ A§VJ©V ~r_m nm°{bgr Ho$ Am§[eH$ Aä`n©U `m A§VaU H$s Xem nm°{bgr H$s ~hmbr V^r à^mdr hmoJr O~ {ZJ_ Ûmam Cgo AZw_mo{XV {H$`m OmEJm
11. In the case of the partial assignment or transfer of a policy of VWm/~r{_V ì`pŠV H$mo {d{eï> ê$n go gy{MV H$a {X`m OmEJm& by the Corporation and is specifically communicated to the Life
_|, ~r_mH$Vm© H$s Xm{`Vm Am§{eH$ Aä`n©U `m A§VaU Ûmam gwa{jV H$s JB© am{e insurance under sub-section (1), the liability of the insurers shall be Assured.