ICICI Pru LifeStage RP U48 Ver 3 01feb2009 To 31dec2009

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POLICY DOCUMENT

Policy Document
h. “Maturity Benefit” means the amount of benefit which is payable on survival
LifeStage RP till maturity i.e. on the Cover Cessation Date, as specified in the Policy
certificate.
Unique Identification Number (UIN) allotted by Insurance Regulatory and Development
Authority (IRDA) i. “Minimum Guaranteed NAV” is the guaranteed NAV per unit of a tranche of
LifeStage RP 105L073V01 the Return Guarantee Fund (RGF), at the time of termination of a tranche.
Accidental Death and Disability Benefit Rider 105A018V01
Critical Illness Benefit Rider 105A017V01 j. "Monthly Due Date" means the date in any subsequent calendar month
corresponding numerically with the date of the commencement of the Policy.
In the event that there is no date in any subsequent calendar month
Rider benefits are applicable when offered by the company and if, opted for by the
corresponding numerically with the commencement date, then the due date
Policyholder.
shall be the last date in that subsequent calendar month.
In this Policy, the investment risk in investment portfolio is borne by the Policyholder.
k. “Mortality Charge” means cost of life insurance cover and is levied at the
beginning of each Policy month from the fund by canceling units for an
Brief Policy Description: This is a regular premium unit linked life insurance plan that aims
equivalent amount.
to rebalance the investment portfolio of the policyholder according to the age of the Life
Assured and the Policy term. This plan also offers an option to keep investments in the
l. “Net Asset Value (NAV)” means the value per unit calculated in Rupees as
Fixed Portfolio Strategy.
mentioned below:
Policyholder: means the Proposer under the Policy or the owner of the Policy at any point
The NAV will be based on the appropriation price when the fund is expanding
of time.
and the expropriation price when the fund is contracting.
Life Assured: means the person on whose life the Policy contract has been issued, the
The appropriation price is defined as follows:
insured.
Market or Fair Value of the Investments plus expenses incurred in the
Policy Contract: The Policy is a legal contract between the Policyholder and ICICI purchase of assets plus Current Assets and accrued interest (net of fund
Prudential Life Insurance Company Ltd (the Company), which has been issued on the basis management charges) less Current Liabilities and provisions
of the proposal form and the documents evidencing the insurability of the Life Assured. Divided by,
The Policy contract comprises the Policy certificate and the Policy document (terms & Number of units outstanding under the Fund
conditions including the Unit Statement/s to be issued from time to time and the mortality
and rider charges table). The Company agrees to provide the benefits set out in the Policy The expropriation price is defined as follows:
in return of the premiums paid by the policyholder. Market or Fair Value of the Investments minus expenses incurred in the sale of
assets plus Current Assets and accrued interest (net of fund management
The Company relies upon the information given by the Proposer and/or the Life Assured in charges) less Current Liabilities and provisions
the proposal form and in any other document(s) or during the medical examination, if any. Divided By,
The Policy is declared void in case the information given is incomplete or inaccurate or Number of units outstanding under the Fund
untrue or in case it is found that the policy was issued on the basis of fake/tampered
documents/proofs. Further details are stated in the “Incontestability” clause under General m. “Partial Withdrawal” means any part of fund that is encashed / withdrawn by
conditions. the Policyholder during the term of policy.
The Policy enables the Policyholder to participate only in the investment performance of n. "Premium Allocation Charge" means a percentage of the Premium
the Fund, to the extent of allocated units and does not in any way confer any right appropriated towards charges from the Premium received. The balance
whatsoever on the Proposer/Life Assured to otherwise share in the profits or surplus of the known as allocation rate constitutes that part of the Premium which is utilized
business of the Company in any manner whatsoever or make any claim in relation to the to purchase (investment) units for the Policy. This charge is levied at the time
assets of the company. of receipt of Premium.
The Policy is subject to the terms and conditions as mentioned in the Policy document and o. “Premium Re-Direction” is the facility allowing the policyholder to modify the
is governed by the laws of India. allocation of amount of renewal premium into a different investment pattern
from the option (investment pattern) exercised at the inception of the policy.
Freelook Period: A period of 15 days is available to the Policyholder during which the
Policy can be reviewed. If the Policy is not suitable, this booklet should be returned within p. “Redemption” means encashing the units at the prevailing NAV offered by the
15 days from the day the Policyholder receives the Policy. Company where the process involves cancellation of units. This is applicable
The Company will return the Premiums paid subject to the deductions as follows: in case of exercising partial withdrawal, switch, maturity, surrender,
a. Proportionate Mortality and rider charges settlement option or in the case of payment of death benefit.
b. Insurance stamp duty on the Policy
c. Any expenses borne by the Company on the medicals. q. “Regular Premium Contract” means Unit Linked Insurance Plan where the
The units will be repurchased by the Company and any fluctuation in the Fund Value will be premium payment is level and paid in regular intervals like yearly, half- yearly
on customer’s account. or monthly.
1. Definitions: r. “Rider Benefit” is the amount of benefit payable on a specified event and is
allowed as add on to the main benefit.
In the Policy Document, unless the context otherwise requires:
s. “Rider Charge” means a cost of Rider benefit and is levied at the beginning of
a. “Allocation” means creating the units at the prevailing NAV offered by the each Policy month from the fund by canceling units for an equivalent amount.
Company. This is applicable in case of premium payment, additional
allocation of units and switches. t. “Settlement Option” also known as Periodical Payments means an option
available to the Policyholder to receive the maturity benefit as a structured
b. “Cover Cessation Date (Date of Maturity)” as shown in the policy certificate is payout over a period of up to 5 years after maturity.
the date on which the policy contract comes to an end and is the date on
which the maturity benefit becomes payable. u. “Sum Assured” is the guaranteed amount of the benefit that is payable on the
death of the Life Assured.
c. “Date of Commencement of Policy” as shown in the policy certificate is the
date on which the age of the Life Assured and the term of the Policy are v. “Surrender Charge” means a charge levied on the Fund Value at the time of
calculated and the same are shown on the Policy Certificate. surrender of the Policy.
d. “Death Benefit” means the amount of benefit which is payable on death as w. “Surrender” means terminating the contract once for all. On surrender, the
specified in the Policy document. This is stated at the inception of the policy. surrender value is payable which is “Fund Value less the surrender charge”
and is subject to the Clause 2.2 on “Surrender”.
e. “Fund Value” is the product of the total number of units under the Policy and
the NAV. The Fund Value for the purpose of Claims, Surrenders or any other x. “Switch” means facility allowing the Policyholder to change the investment
Clause stated in this policy shall be calculated on the basis of NAV table given pattern by moving from one fund to other fund (s) amongst the funds offered
in Clause 6.2 under this product.
f. “Fund Management Charge” means a charge levied as a percentage of the y. “Switching Charge” means a flat charge levied on switching of monies from
value of assets and shall be appropriated by adjusting the NAV. This is a one fund to another available within the product. The charge will be levied at
charge levied at the time of computation of NAV. the time of effecting the switch.
g. “Life Insurance Cover” means the Sum Assured.
Policy Document - Cont
z. “Top Up premium” is an amount of premium that is paid by the Policyholder
at irregular intervals besides basic regular premium payments specified in the d. The Fund Management charges shall be deducted during this period.
contract and is treated as single premium.
e. The first installment shall become due on the day following the Cover
aa. “Unit” means the portion or a part of the underlying segregated unit linked Cessation Date and subsequent installments as per the frequency
Fund. chosen by the Policyholder.

bb. “Unit Linked Fund” means the pool of the premiums paid by the f. Payments can be received by the Policyholder in the form of monthly,
Policyholders and invested in a portfolio of assets to achieve the fund(s) quarterly, half yearly or annual installments spread over a period of up
objective. The price of each unit in a fund depends on how the investments in to five years from the date of the maturity. The payment of installments
the fund perform. The fund is managed by the Company. will be made in advance.

cc. “Valuation of Funds” is the determination of the value of the underlying g. The available number of units under the Policy shall be divided by the
assets of the unit linked fund. residual number of installments to arrive at number of units for each
installment. Further, in case of investment in more than one Fund, the
Benefits Payable number of units to be withdrawn shall be in the same proportion of the
investment held at the time of payment of each installment. The value
2.1 Death Benefit provided the Policy is in force on date of death of the Life of installment payment will be arrived at by using the number of
Assured applicable units of respective fund (s) and the NAV of respective
fund(s). The stated NAV shall be as of the due date of installment.
a. In the event of the death of the Life Assured after the Policy Anniversary
on which the Life Assured is attaining age 7 nearest birthday, the h. No premium payment or Partial withdrawal or switch will be allowed
Company shall pay the Sum Assured alongwith the Fund Value. during this period.

b. In the event of the death of the Life Assured before the Policy i. The remaining Fund Value shall become payable at once in the event of
Anniversary on which the Life Assured is age 7 nearest birthday, only death of the Life Assured before receiving last installment. The Policy
the Fund Value under the Policy shall be payable. shall terminate on the said payment.

The Policy terminates on payment of the Death Benefit. j. The Policyholder has an option to discontinue the periodical payments
by withdrawing all the units under the Policy. The Policy shall terminate
2.2 Surrender on the said payment.

The Policy acquires a Surrender Value after the payment of full premium for k. In case the Policyholder chooses to receive the installments in monthly
the first Policy year. However, the surrender value would be payable only after mode, payment would be made only by direct credit to his bank
completion of three policy years or whenever the Policy is surrendered account. For other payment frequencies, payment may be made by
thereafter. The surrender value payable is the Fund Value after deducting the cheque also.
following surrender charges.
2.5 Rider Benefit (s) is applicable only if opted for and subject to the conditions
a) Applicable surrender charges where three full years’ premiums have not specified in the annexure.
been paid

Complete Policy years for which Surrender Charge as a % of the 2.6 To whom the Benefits are payable:
premiums have been paid Fund Value
To the Proposer, Life Assured, or the assign(s) where a valid assignment /
Less than one year 100%
endorsement has been recorded, or the nominee (s) where a valid nomination
One year 75%
has been registered by the Company (in accordance with section 39 of the
Two years 60% Insurance Act, 1938), or the executors, administrators or other legal
representatives who should take out representation to the estate or to such
In case the premium payments are discontinued within the first three person as directed by a court of competent jurisdiction in India, limited at all
policy years, all benefits shall cease after the expiry of the days of grace for times to the monies payable under this Policy.
payment from the due date of the first unpaid premium.
The Company does hereby agree, that on proof to the satisfaction of the
b) Applicable surrender charge where three full years’ premiums have Company of the benefits having become payable as set out in the Schedule and
been paid of the title of the said person or persons claiming payment and of the
correctness of the age of the Life Assured stated in the Proposal (if not
No. of completed Policy years Surrender Charge as a % of Fund previously admitted) or upon the happening of an event upon which one or
Value more benefits become payable under this Policy, the Sum Assured / appropriate
3 years 4% benefit will be paid by the Company.
4 years 2%
5 years and above 0% 3. Sum Assured

The surrender shall extinguish all the rights, benefits and interest under the 3.1 Increase of Sum Assured subject to the payment of due premiums till date
policy.
The Policyholder shall have the option to increase the Sum Assured on the
2.3 Maturity Benefit payable provided the Policy is in force on the Cover following terms and conditions:
Cessation Date:
a. Any increase in the Sum Assured shall be subject to underwriting and that
On survival of the Life Assured to the Cover Cessation Date of the Policy, the the Policyholder shall bear the cost of any medical report(s) and any other
Maturity Benefit equivalent to the Fund Value under the Policy shall be medical charges. All such costs shall be recovered by the Company
payable. The Policyholder shall have an option to receive the Fund Value as through the cancellation of the Units. The increase in the Sum Assured
lump sum or as periodic payments over a period of up to 5 years after shall be in multiples of Rs.1,000/-.
maturity.
b. No increase in Sum Assured shall be allowed on or after the Policy
The Policy would be terminated upon the lump sum payment of the Maturity anniversary on which the Life Assured is age 60 nearer birthday.
benefit and all the rights, benefits and interest under the said policy shall
extinguish. c. The multiple of Rs.1,000 referred above may change from time to time as
per the then rules of the Company.
2.4 Settlement Option (Periodical Payments)
d. The Policyholder shall have to pay the increased mortality charges as a
Where the periodical payments are opted, the following conditions shall be result of increase in Sum Assured.
applicable:
3.2 Decrease of Sum Assured subject to the payment of due premiums till date
a. During this period the investment risk in investment portfolio is borne
by the Policyholder. The Policyholder shall have the option to decrease the Sum Assured on the
following terms and conditions:
b. The Policyholder must inform the Company of this option at least 1
month prior to the Maturity date. a. The decrease in the Sum Assured shall be in multiples of Rs 1,000/- subject
to a minimum residual Death Benefit of half of Policy Term multiplied with
c. The Life Insurance Cover and the rider benefit, if any, shall cease on the the Premium amount.
Cover cessation date.
Policy Document - Cont
b. Notwithstanding anything contained above in relation to the increase of be paid anytime during the term of the contract. The minimum / maximum
Sum Assured, once the Proposer / Life Assured has opted for decreasing amount of Top Up premium would be as per the Company rules. The
the Sum Assured, the Proposer / Life Assured shall not be allowed further Policyholder will be required to opt between two options of Sum Assured,
increase in Sum Assured without underwriting and subject to the subject to underwriting: 125% or 500% of the top-up premiums paid, at all such
Proposer/Life Assured bearing the cost of medical reports and any other instances. No charges would be applicable for partial withdrawal or surrender of
charges. top-up premiums.

c. The multiple of Rs.1,000 referred above may change from time to time as 4.5 Continuation of the Policy
per the then rules of the company.
a. If a premium is not paid on the due date or during the days of grace during the
4. Premium first three Policy years, the Life Insurance Cover and the Rider Benefits, if any,
shall cease and mortality and rider charges will not be deducted. The Policy
4.1 Payment of Premiums Administration and Fund Management charges would continue to be applicable.
Further no other transaction or payout will be allowed during this period till the
a. Premiums are payable on the due dates and at the amount mentioned in the Policy is revived.
Policy at time of commencement of the policy. However, a grace period of not
more than 30 days, where the mode of payment of premium is other than b. However, on death of the Life Assured during this period the Fund Value under
monthly, and not more than 15 days in the case of monthly mode is allowed. the policy shall be paid and the policy would be terminated upon such payment.

b. If a premium is not paid on the due date or during the days of grace, the c. If full premium has been paid for three policy years and three policy years have
provisions as per Clause 4.5 shall apply and the Policyholder will continue to elapsed and any subsequent premium is not paid on the due date or during the
have the benefit of investment in the respective unit funds. days of grace, then the policyholder shall have an option of continuing the cover
without payment of renewal premiums. In such cases, all benefits including Life
c. Premiums are payable without any obligation on the Company to issue a notice Insurance Cover and Rider Benefit, if any, will continue subject to the deduction
for the same. of charges by way of cancellation of units and subject to the foreclosure
conditions mentioned in Clause 10.
d. Premiums are payable through any of the following modes :-
d. If full premium has been paid for three policy years and three policy years have
1. Cash * elapsed and any subsequent premium is not paid on the due date or during the
2. Cheques days of grace, and the policyholder has not opted for continuation of cover, then
3. Demand Drafts the life insurance cover and rider benefit, if any, shall continue subject to the
4. Pay Orders deduction of charges by way of cancellation of units only till the end of the period
5. Bankers Cheque of two years from the due date of first unpaid premium and subject to the
6. Internet facility as approved by the Company foreclosure conditions mentioned in Clause 10.
from time to time
7. Electronic Clearing System 4.6 Allocation of Additional Units
8. Credit Card
Additional units at the rate of 12% of one full years’ premium shall be allocated at
Where premiums have been remitted otherwise than in cash, the the end of every 5 policy years till the end of the Policy term where all the
application of the premiums received is conditional upon the realization by premiums are paid till date or on the actual payment of the required premiums
the Company of the proceeds of the instrument of payment including where they are paid after the due dates.
electronic mode
The number of additional units shall be allocated amongst the Funds in same
* Amount and modalities will be subject to Company rules and relevant
proportion as the Fund Value held in each plan at the time of allocation and by
legislation / regulation.
using the NAV of the respective fund(s) at the time of allocation
e. Premium shall be construed to be received only when the same is received at
any of the Company’s office. No additional units would be allocated beyond the Cover Cessation Date of the
policy.
f. If the Policyholder suspends payment of premium for any reason whatsoever,
the Company shall not be held liable and the benefits, if any will be available only Any Bonus or additional units declared by the Company will not be allocated into
in accordance to the policy conditions. the Return Guarantee Fund. These units will be allocated into the other open-
ended funds in the proportion of units held therein.
g. If the premiums are paid in advance then the units will be allocated only on the
respective due dates. In the exceptional case of entire fund being invested in the RGF at the time of
bonus allocation, the bonus will be allocated to the funds opted at the policy
4.2 Premium Allocation inception.

The Premium paid shall be utilized for purchase of Units after the deduction of the 5. Funds
Premium Allocation Charge as stated below:
5.1 Investment Objectives of the Funds and Indicative Portfolio Allocation
Premium for Policy year Premium Allocation Charge (% of
premium) 1. Flexi Growth IV
1st year 25%
2nd – 3rd year 12% Objective: To generate superior long-term returns from a diversified portfolio of
4th – 10th year 2% equity and equity related instruments comprising of large, mid and small cap
11th year onwards 0% companies.

On top ups an allocation charge of 1% will apply.


The Policyholder has the option to allocate the Premium for purchase of units Portfolio Allocation Max (%) Min (%)
amongst one or more of the Fund(s). The number of Units purchased would be
computed based on the NAV as provided in Clause 7. Equity & equity related securities 100 80

4.3 Premium Redirection Debt, Money market & Cash 20 0

The Policyholder shall specify the type of fund (s) and the proportion in which the Potential Risk- Reward profile of the Fund: High
premiums are to be invested in the chosen fund(s) at the inception of the policy.
The Policyholder shall have an option to change the proportion in which the 2. Flexi Balanced IV
premiums are to be invested at the time of payment of subsequent premiums.
This will not be treated as switch. Further, the premium re-direction option is Objective: This fund tries to achieve a balance between capital appreciation and
available only for Fixed Portfolio Strategy. The Policyholder cannot opt for the stable returns, by investing in a mix of equity and equity related instruments
PRGF for premium redirection; however, subsequently, premiums can be comprising of large, mid & small cap companies and debt & debt related
invested in the PRGF by means of a switch at a time that a tranche is open for instruments.
subscription. Please refer to clause 8.1 for details.

4.4 Top - up premiums Portfolio Allocation Max (%) Min (%)

99% of each Top-Up Single Premium shall be utilised to purchase units. The Equity & equity related securities 40 0
Policyholder may pay Top-Up Single premiums only where all the installment
premiums due under the Policy till then have been paid. Top Up premiums can Debt, Money market & Cash 100 60
Policy Document - Cont
Potential Risk- Reward profile of the Fund: Moderate
Portfolio Allocation Max (%) Min (%)
3. Maximiser IV (This Fund shall not be applicable for investment to those
policyholders whose application is received at the Company’s office after Equity & equity related securities 100 80
February 22, 2008)
Debt, Money market & Cash 20 0
Objective: To provide long-term capital appreciation through investments Potential Risk-Reward profile of the fund: High
primarily in equity and equity-related instruments.
9. Return Guarantee Fund (RGF)

Portfolio Allocation Max (%) Min (%) Objective: The fund seeks to provide guaranteed returns through investment in a
diversified portfolio of high quality fixed income instruments.
Equity & equity related securities 100 75

Debt, Money market & Cash 25 0 Portfolio Allocation Max (%) Min (%)

Potential Risk- Reward profile of the Fund: High Debt, Money market & Cash 100 100

4. Balancer IV Risk-Reward Profile of the Fund: Low

Objective: To provide a balance between long-term capital appreciation and The Return Guarantee Funds are close ended funds of terms 5 and / or 10 years.
current income through investment in equity as well as fixed income instruments They are intended to provide the Policyholder a return over a specified period,
in appropriate proportions depending on market conditions prevalent from time subject to a guarantee. The funds may be offered in tranches over a period of
to time. time and each tranche will be open for subscription for a brief period of time and
will terminate on a specified date. The Company shall guarantee the NAV of this
fund at the time of termination of each tranche. On that date, the higher of
Portfolio Allocation Max (%) Min (%) prevailing NAV or Minimum Guaranteed NAV will apply for the units in RGF.
Equity & equity related securities 40 0
The Company proposes to offer new tranches of these funds from time to time
Debt, Money market & Cash 100 60 and the Minimum Guaranteed NAV will be specified at the time of launch of each
new tranche.
Potential Risk- Reward profile of the Fund: Moderate
If the Policyholder opts for RGF at inception, the first premium will be directed to
5. Protector IV the fund. Subsequent premiums are allocated to the other funds in a proportion
specified by the Policyholder at the time of inception. If the Policyholder wishes
Objective: This Fund accumulates a steady income, at a low risk, across a to invest Subsequent premiums in the RGF, he may do so by switching monies
medium to long term period from a portfolio, which is primarily invested in fixed into the RGF. Please refer to section 8.1 for details.
income securities. However, the returns generated may also be on the lower side
due to the investment pattern. On termination of a tranche of RGF, the fund proceeds will be allocated to the
remaining funds, in the proportion of units held therein, as on the date of
termination. In an exceptional case where the entire fund is invested in the RGF,
Portfolio Allocation Max (%) Min (%) the proceeds will be allocated to the funds opted at policy inception.

Debt, Money market & Cash 100 100 5.2 The Company shall obtain the consent of the Policyholder, when any change in the
Portfolio allocation pattern of the Funds described above is considered necessary
Potential Risk- Reward profile of the Fund: Low other than on account of market conditions and /or political and economic force
Majeure conditions (like but not limited to floods, cyclones, earthquake, war, etc)
6. Preserver IV which are beyond human control. Such change shall be carried out as long as not
more than one fourth of the Policyholders disagree. The Policyholder who does not
Objective: This fund is primarily for capital protection. The objective of this Fund give his consent shall be allowed to withdraw the units in the Funds at the then
is to ensure capital protection by investing in very low risk investments like Cash prevailing NAV without any surrender charge and terminate the policy.
and Call Money Markets. However, the returns generated may also be on the
lower side due to the investment pattern. The Company shall notify the Policyholder about the change in asset allocation when
the change is on account of market conditions and / or political and economic force
Majeure conditions (like but not limited to floods, cyclones, earthquake, war, etc)
Portfolio Allocation Max (%) Min (%) which are beyond human control.

Debt Instruments 50 0 6. Portfolio Strategies available under the Policy:

Money market & Cash 100 50 The premiums are allocated in the Fund (s) after the applicable premium charges.
The Policyholder has an option to invest in either of the Portfolio Strategies as
Potential Risk- Reward profile of the Fund: Capital Preservation mentioned below.

7. Multiplier IV (This Fund shall be available for investment to those policyholders 6.1 Life Cycle Portfolio Strategy:
whose application is received at the Company’s office on or after February 23, 2008)
a. Under this strategy, investment will be done in the funds “Flexi Growth
Objective: To provide long-term capital appreciation from an equity portfolio IV“ and “Protector IV“ in the proportion shown in the table below
predominantly invested in NIFTY scripts. according to the age of Life Assured at the inception of the policy.

b. Further on a quarterly basis, units shall be rebalanced as necessary to


Portfolio Allocation Max (%) Min (%) achieve the stated proportion of the fund value in the “Flexi Growth IV”
and “Protector IV” funds as stated below. The re-balancing of units shall
Equity & equity related securities 100 80 be done on the last day of each policy quarter. The below stated
investment proportions shall apply until the last ten quarters of the
Debt, Money market & Cash 20 0 policy are remaining.

Potential Risk-Reward profile of the Fund: High c. During the last ten quarters of the Policy term, the investment
proportion in the “Protector IV” shall be as per table shown below. The
8. R.I.C.H. IV (This fund shall be available for investment to those policyholders whose units under the “Flexi Growth IV Fund“ shall be moved to “Protector IV
application is received at the Company’s office on or after March 15, 2008) Fund“ on the last day of the quarter to achieve 100% of investment in
“Protector IV” Fund in the last quarter of the Policy term.
Objective: To generate superior long-term returns from a diversified portfolio of
equity an equity related instruments of companies operating in four important
types of industries viz., Resources, Investment-related, Consumption-related and
Human capital leveraged industries.
Policy Document - Cont
f. The request for the Automatic Transfer Strategy shall be
Age of the Life Assured (in years) on Investment % in the Protector II Fund during the last 10 quarters processed subject to the said amount being available under the
quarterly policy anniversary during the preceding the Cover Cessation Date respective fund of the Policyholder. The Automatic Transfer
th
last 10 quarters of the Policy  10 9th 8th 7th 6th 5th 4th 3rd 2nd 1st Strategy will not be applicable if the source fund value is less
0 – 25 23.5% 32.0% 40.5% 49.0% 57.5% 66.0% 74.5% 83.0% 91.5% 100.0% than the amount stated for transfer.
26 – 35 32.5% 40.0% 47.5% 55.0% 62.5% 70.0% 77.5% 85.0% 92.5% 100.0%
36 – 45 41.5% 48.0% 54.5% 61.0% 67.5% 74.0% 80.5% 87.0% 93.5% 100.0% 6.7 Valuation Date
46 – 55 50.5% 56.0% 61.5% 67.0% 72.5% 78.0% 83.5% 89.0% 94.5% 100.0%
56 – 65 59.5% 64.0% 68.5% 73.0% 77.5% 82.0% 86.5% 91.0% 95.5% 100.0% The NAV shall be declared by the Company on a daily basis except on
66 – 75 68.5% 72.0% 75.5% 79.0% 82.5% 86.0% 89.5% 93.0% 96.5% 100.0%
Bank holidays, Exchange holidays, Saturdays, Sundays and the days on
which the Corporate Office is closed.
Age of the Life Assured (in years) on Investment % in the Flexi Growth II Fund during the last 10 quarters
quarterly policy anniversary during the preceding the Cover Cessation Date 6.8 New Funds
last 10 quarters of the Policy  10th 9th 8th 7th 6th 5th 4th 3rd 2nd 1st
0 – 25 76.5% 68.0% 59.5% 51.0% 42.5% 34.0% 25.5% 17.0% 8.5% 0.0% New Funds may be introduced by the Company from time to time and the
26 – 35 67.5% 60.0% 52.5% 45.0% 37.5% 30.0% 22.5% 15.0% 7.5% 0.0% Policyholder shall be notified of the introduction of such new Funds. The
36 – 45 58.5% 52.0% 45.5% 39.0% 32.5% 26.0% 19.5% 13.0% 6.5% 0.0% Company may offer the Policyholder the option to switch to those Funds at
46 – 55 49.5% 44.0% 38.5% 33.0% 27.5% 22.0% 16.5% 11.0% 5.5% 0.0% such NAV and subject to such terms and conditions as may be specified by
56 – 65 40.5% 36.0% 31.5% 27.0% 22.5% 18.0% 13.5% 9.0% 4.5% 0.0% the Company at that time. Switching between the existing Funds is subject to
66 – 75 31.5% 28.0% 24.5% 21.0% 17.5% 14.0% 10.5% 7.0% 3.5% 0.0% the terms and conditions detailed in Clause 8.1 herein.

d. The policyholder does not have the flexibility to alter the above stated 6.9 Investment of the Funds
proportions of Flexi Growth IV and Protector IV while the investments
are in the Life Cycle Portfolio strategy. However the policyholder can The Company shall select the investments, including derivatives and units of
change the strategy to the Fixed Portfolio strategy at any point of time. mutual funds, by each Fund at its sole discretion subject to the investment
At the time of such change, the Policyholder shall be required to objectives of the respective Fund and the IRDA Regulations in that behalf. All
indicate the proportion of future renewal premiums amongst the Funds assets relating to the Fund shall be and shall remain in the absolute beneficial
available under this Policy and also shall be required to indicate if any ownership and control of the Company. There is no trust created, whether
switch transaction has to be carried out in respect of existing express or implied, by the Company in respect of the investments in favour of
investment as of the date of change. the Policyholder / Assignee/ Nominee of the Policy or any other person.

e. Unless the Portfolio Strategy is changed to the Fixed Portfolio strategy, 6.10 Fund Closure
all the renewal premiums shall continue to be allocated in the Life Cycle
Portfolio strategy. Although the Funds except the Return Guarantee Fund are open ended, the
Company may, at its sole discretion completely close any of the Funds on the
f. If the last day of the quarter is not a valuation date then the Company happening of any event, which in the sole opinion of the Company requires
shall apply the NAV of the next immediate Valuation Date. the said Fund to be closed. The Policyholders shall be given at least three
months’ prior written notice of the Company's intention to close any of the
g. The quarter means the quarterly anniversary of the Policy with Funds completely or partially except in ‘Force Majeure’ situations/ conditions
reference to “Date of Commencement of the Policy”. like, but not limited to, floods, cyclones, earthquake, war, etc which are
beyond human control, where the Company may give a shorter notice.
6.2 Fixed Portfolio Strategy:
In case of complete closure of a Fund, on and from the date of such closure,
Under this option, the Policyholder has to decide the premium the Company shall cease to issue and cancel Units of the said Fund and cease
allocation amongst one or more from the Funds as mentioned in Clause to carry on activities in respect of the said Fund, except such acts as are
5 above. required to complete the closure. In such an event if the Units are not
The Policyholder shall specify the type of fund(s) and the proportion in switched to another Fund by the Policyholders, the Company will switch the
which the premiums are to be invested in the chosen fund(s) at the said Units to any another Fund at its sole discretion. However no fee would be
inception of the policy or at the time of change to Fixed Portfolio charged by the Company for switching to another Fund or exiting from the
Strategy from Life Cycle Portfolio strategy, as the case may be. Policy in the event of complete closure of Funds.

6.3 The Policyholder has an option to change the portfolio strategy four In case of complete closure of the any of the Fund(s) of Life Cycle Portfolio
times during the policy term and no charge shall be levied for the same. Strategy, the Company shall continue the Life Cycle Portfolio Strategy by
switching all the units lying in the closed fund(s) to other fund(s) with similar
6.4 At any point of time the entire investment under the policy can be only asset allocation and risk reward.
in invested only in one portfolio strategy.
However no fee would be charged by the Company for switching to another
6.5 When the Portfolio Strategy is changed from Fixed Portfolio Strategy to Fund or exiting from the Policy in the event of complete closure of Funds.
Life Stage Portfolio Strategy, the necessary switch of units shall be
carried out to achieve the investment applicable for age of the of the 6.11 Risks of investment in the Funds
Life Assured and the policy year at the time of such change as specified
in the Clause 6.1 above. The switch of units, as necessary, shall be The Policyholder is aware that the investment in the Units is subject to the
carried out by using the NAV of respective Funds on the date of following, amongst others, risks and agrees that he is making the investment
change. This switch transaction would be free of charge. in the Units with full knowledge of the same.

6.6 Automatic Transfer Strategy a. LifeStage RP Policy is only the name of the Policy and does not in
any way indicate the quality of the Policy, its future prospects or
a. The Policyholder can choose to automatically transfer, from his returns.
investments in the Preserver IV Fund, a pre-defined amount,
every month, into any of the equity funds available under the b. Flexi Growth IV, Flexi Balanced IV, Maximiser IV, Balancer IV,
plan namely Multiplier IV, Flexi Growth IV, and R.I.C.H. IV. Protector IV, Preserver IV, Multiplier IV, R.I.C.H. IV, Return
Guarantee Fund, Life Cycle Based Portfolio Strategy, Automatic
b. The Policyholder may choose a transfer date of either 1st or 15th Transfer Strategy and Fixed Portfolio Strategy are the names of
of every month. If the 1st or 15th of the month is not a Valuation the Funds / Asset Allocation Strategies respectively and do not in
Date then the Company shall apply the NAV of the next any manner indicate the quality of the Fund / Strategy, their
immediate Valuation Date. future prospects or returns.

c. On transfer, the requisite number of units shall be withdrawn c. The investments in the Units are subject to market and other
from Pension Preserver, at the applicable unit value, and the risks and there can be no assurance that the objectives of any of
units shall be transferred to the new Fund as opted by the the Funds will be achieved.
Policyholder.
d. The Fund Value of each of the Funds can go up or down
d. Currently, the minimum transfer amount is Rs. 2,000/-. The depending on the factors and forces affecting the financial and
minimum amount may be revised by the Company from time to debt markets from time to time and may also be affected by
time subject to IRDA approval. changes in the general level of interest rates.

e. This transfer will continue until the Company is notified, through e. The past performance of other Funds or the Asset Allocation
a written communication from the Policyholder, to discontinue Strategies of the Company is not necessarily indicative of the
the same. future performance of any of these Funds.
Policy Document - Cont

f. The Funds do not offer a guaranteed or assured return except for 8. Policyholder’s Options
the Return Guarantee Fund, which offers a Minimum Guaranteed
NAV at the time of termination of a tranche. The below mentioned options are available to the Policyholder.

g. All benefits payable under the Policy are subject to the tax laws 8.1 Switching of Units (Applicable only for Fixed Portfolio Strategy)
and other financial enactments as they exist from time to time.
The Policyholder has the choice to switch Units from a particular Fund to another
7. Units Fund by cancellation of the Units to be switched and creation of new Units in the
Fund being switched to based on the NAV of the relevant Fund computed in the
7.1 The nominal value of the Units is Rs.10 each. The Units are allocated in the manner provided in Clause 7.
manner described below and such allocations may be made up to 1/1000th
of a Unit or such other fraction as the Company may, in its sole discretion, a. Four free switches shall be allowed in each policy year starting from the
decide. date of commencement of the Policy. Any unutilized free switch cannot
be carried forward.
7.2 Applicability of NAV
b. Currently, for any non-free switch, a Switching charge of Rs.100/- shall
The allocation and redemption of units for various transactions would be at the be applicable.
NAV as described below.
c. Currently, the minimum amount per switch is Rs.2,000/- and shall be
Type of transaction Applicable NAV (Where transaction is by subject to change as per the rules of the Company from time to time
way of a request, the same should be with prior IRDA approval.
received before cut-off time #)
d. During the first three policy years, switches shall not be allowed unless
First Premium Deposit received NAV of the date of commencement of the
all due premiums till date have been paid.
by way of local cheque / pay policy
order / demand drafts payable at e. The Policyholder can switch from the RGF to another Fund at any point
par of time. The option to switch into the RGF will be available only if a
First Premium Deposit received NAV of the date of commencement of tranche of RGF is open at the time of switch request
by way of outstation cheque / policy or date of realization of the amount
pay order / demand drafts by the Company, whichever is later 8.2 Partial Withdrawals
• Switch NAV of the date of receipt of the request /
• Partial withdrawals intimation of claim The policyholder has the choice to make partial withdrawal of Units from any
• Surrender (Intimation means written intimation for Fund by either specifying the number of Units to be withdrawn or the amount to
• Death / Living Benefit claim the purpose of claims. Request means be withdrawn. The number of Units to be withdrawn or the amount to be
• Requests for Free Look written or through electronic mode or any withdrawn shall be computed as specified in Clause 7.
cancellation other manner as decided by the Company
from time to time) a. Partial withdrawals will be allowed after completion of three policy
Direct debit, ECS, credit card, etc NAV of the date of receipt of instruction or years and subject to payment of premiums for three full policy years.
for the purpose of renewal the due date, whichever is later b. One free partial withdrawal shall be allowed in a policy year after
premiums completion of three policy years.
c. Partial Withdrawals can be made subject to a maximum of 20% of the
Renewal premiums received by NAV of the date of receipt of instrument or
way of local cheque / pay order / the due date, whichever is later Fund Value per policy year.
demand drafts payable at par d. Currently, the minimum amount of partial withdrawal is Rs.2000/- and
shall be subject to change as per the rules of the Company from time to
Renewal Premiums received by NAV of the date of receipt of instrument or
time subject to IRDA approval.
way of outstation cheque / pay the due date or date of realization of the
e. On partial withdrawal the minimum Fund Value remaining under all
order / demand drafts amount by the Company, whichever is
funds together should be at least equal to 110% of one full year’s
later
premium at any given point of time.
Additional Allocation of units NAV of the date of allocation of units
f. For policies issued on minor lives, partial withdrawals are only allowed
Foreclosures / revival NAV of the date of effect of foreclosure / after the Life Assured is 18 years.
revival g. There will be a 3 year lock-in period (from the date of payment) on the
Maturity Claim / Periodical NAV of the due date of such claim / top-up premiums for the purpose of partial withdrawals. However this
payments payment. In case the date of such condition will not apply if the top-up premiums are paid during the last
payments coincides with the termination three years of the policy term.
date of a tranche of RGF, the NAV, of the
units invested in that tranche of RGF, will 8.3 The Company may, in the general interest of the holders of unit linked policies
be subject to the MGN of that tranche. and keeping in view unforeseen circumstances/ unusual market conditions, limit
the total number of Units withdrawn on any day to 5% of the total number of
The allocated units shall be reversed in case of non realization of the said Units then outstanding.
amount.
8.4 In exceptional circumstances such as unusually high volume of sale of
#
Cut-off time means the time before which transaction requests (such as investments within a short period, market conditions and political and economic
premiums, surrenders, withdrawals, etc.) should be received at the Company’s force majeure, the Company may, in its sole discretion, defer the switching or
Office for the applicability of the NAV of the same day. Currently the cut-off time withdrawal of Units and the surrender of the Policy for a period not exceeding
is 3.00 p.m. one month from the date of application.

If the request/instruction is received after the cut-off time, then NAV of the next 9. Charges
date or the due date, whichever is later, shall be applicable.
9.1 Mortality Charges and Rider Charges
If the same day or the next day or the transaction due date or the re-balancing
day is not a Valuation date, then the Company shall apply the NAV of the next a. Mortality charges would be calculated on the Life Insurance
immediate Valuation Date. Cover; which is equivalent to the Sum Assured. The Rider
charges would be calculated on the Rider Sum Assured.
In respect of transactions which are not specifically mentioned herein but involve b. The Mortality and rider charge together with applicable Service
the allocation and redemption of units, the Company shall follow the same norms tax & Education cess shall be recovered on the date of
as mentioned in this clause. commencement of the Policy and on each Monthly Due Date
whilst the Policy remains in force and shall be recovered by
For all transactions on the last day of the financial year, the NAV of that day cancellation of units.
would be applicable, irrespective of the cut-off time. c. The age dependent standard Mortality and Rider charges table is
annexed to the Policy document. At inception, the charges may
The Company may, subject to IRDA approval, change the cut-off time by which be revised based on the occupation, health and age of the Life
requests for transactions have to be received and accepted for the purpose of Assured.
determining the NAV of the relevant Fund to be used for calculating the number d. The rider charges under Accidental Death and Disability Benefit
of Units. The change shall be intimated to the policyholder. Rider (ADBR) are guaranteed for the term of the policy. In case of
the Critical Illness Benefit Rider (CIBR), the Company reserves the
7.3 Valuation of the Funds right to revise the rider charge at any time during the term of the
policy with prospective effect by giving the policyholder notice
The NAV shall be computed at least up to two decimal places. The valuation of after approval from IRDA.
the assets, of each Fund shall be made as per the valuation norms prescribed by e. Mortality charge would be levied only after the Life Assured
the Company and the IRDA. attains age 7 nearest birthday.
Policy Document - Cont
the holder of the Policy and the Company shall thereafter enter in to all
9.2 Policy Administration & Fund Management Charges correspondence directly with him. Any assignment or nomination of the Policy
contrary to this provision would be null and void as against the Company.
The fixed policy administration charge shall be Rs.90/- per month where
the premium payment frequency is monthly and it shall be Rs.60/- per 12. Force majeure:
month for all other premium paying frequencies. This will be recovered by
cancellation of units. If the performance by the Company of any of its obligations herein shall be in any
way prevented or hindered in consequence of any act of God or State, Strike,
The Fund Management Charge shall be; Lock out, Legislation or restriction of any Government or other authority or any
other circumstances beyond the anticipation or control of the parties, the
performance of this contract shall be wholly or partially suspended during the
Fund Management Charge (% continuance of the contract.
Fund Name
per anum of the net assets)
Flexi Growth IV 1.50% General Conditions
Maximiser IV 1.50%
Flexi Balanced IV 1.00% 1. Age
Balancer IV 1.00%
Protector IV 0.75% i) The Mortality and rider benefit charges payable under the Policy have been
calculated on the basis of the age of the Life Assured as declared in the
Preserver IV 0.75%
Proposal. In case the age of the Life Assured has not been admitted by the
Multiplier IV 1.50%
Company, the Policyholder shall furnish such proof of age of the Life Assured
R.I.C.H. IV 1.50% as is acceptable to the Company and have the age admitted.
Return Guarantee Fund 1.50%
ii) In the event the age so admitted (the “correct age”) is found to be different
9.3 Recovery of charges from the age declared in the Proposal, without prejudice to the Company’s
other rights and remedies including those under the Insurance Act, 1938,
a. The Fund Management Charge pertaining to the net assets under one of the following actions shall be taken:
the Fund (s) will be priced in the NAV of the Fund.
b. Premium Allocation charge is recovered by way of deduction a) If the correct age of the life assured is such as would have made the
from Premium Life Assured uninsurable under the Plan of insurance specified in the
c. All other Charges would be recovered by cancellation of Units Policy Certificate, the Plan of insurance shall stand altered to such
d. In the event that the Units are held in more than one Fund, the Plan of insurance as is generally granted by the Company for the
cancellation of Units will be effected in the same proportion as correct age of the Life Assured, which will be subject to the terms
the Fund Value held in each Fund. and conditions as are applicable to that Plan of insurance. If the
Policyholder does not wish to opt for altered Plan or if it is not
9.4 Revision of Charges possible for the Company to grant any other Plan of insurance, the
policy shall stand cancelled from the date of issue of the policy and
The Company reserves the right to revise the following Charges at any the Fund Value shall be returned subject to deduction of the
time during the term of the policy. Any revision will be with prospective expenses incurred by the Company on the policy.
effect subject to approval from IRDA and after giving a notice to the
Policyholders. b) If the correct age of the life assured is found to be higher than the
age declared in the Proposal, then subject to the
The Company reserves the right to change the Fund Management Charge underwriting evaluation at point of such knowledge, if the Life
pertaining to the net assets under the Fund (s) with prior approval from the Assured is found insurable the charges (the “corrected Mortality and
IRDA to a maximum of 2.50% per annum of the net assets for each of the rider benefit charges”) payable under the Policy shall be altered
Funds. corresponding to the correct age of the Life Assured from the date
of commencement of the Policy and the Policyholder shall pay to
The Company reserves the right to change the total Policy Administration the Company the accumulated difference between the corrected
Charge at any time with prior approval from the IRDA upto a maximum of charges and the original charges from the commencement of the
Rs. 240/- per month. Policy up to the date of such payment with interest at such rate and
in such manner as is charged by the Company for late payment of
The Company reserves the right to change the Switching / partial premium. If the Policyholder fails to pay such accumulated
withdrawal Charge at any time with prior approval from the IRDA upto a difference, together with interest, the same shall be recovered by
maximum of Rs.200/- per switch or partial withdrawal. cancellation of Units. Where the Life Assured is not found insurable,
the Company would pay the Fund Value under the Policy and
If the revision in the above charges is not agreeable to the Policyholder, terminate the Policy.
the Policy can be terminated by withdrawing all the units in the Funds at
the then prevailing NAV, without any application of surrender charges and c) If the correct age of the Life Assured is found to be lower than the
terminate the policy. age declared in the Proposal, the charges payable under the Policy
shall be altered corresponding to the correct age of the Life Assured
The surrender charges, premium allocation charges and mortality charges (the “corrected Mortality and rider benefit charges”)from the date of
are guaranteed for the term of the policy. commencement of the Policy and the Company shall refund without
interest, the accumulated difference between the original charges
The rider charges under Accidental Death and Disability Benefit Rider paid and the corrected charges.
(ADBR) are guaranteed for the term of the policy. In case of the Critical
Illness Benefit Rider (CIBR), the Company reserves the right to revise the For the purpose of above clauses, the Fund Value shall be calculated by
rider charge at any time during the term of the policy with prospective using the NAV of the date of cancellation / termination of the policy by
effect by giving the policyholder notice after approval from IRDA. the Company.

The policyholder will be allowed to continue the Base policy without CIBR 2. Revival of the Policy
rider if he/she disagrees with revised CIBR charges.
A policy, which has lapsed for non-payment of premium within the days of
10. Foreclosure of the Policy grace, may be revived subject to the following conditions: -
(a) The application for revival is made within two years from the due date
If full premium for the first three Policy years is not paid and the policy is not of the first unpaid premium. If the policy is not revived within this
revived within a period of two years from the due date of the first unpaid period, then the policy shall be foreclosed by paying the Surrender
premium, then surrender value as described in Clause 2.2 will be paid at the end Value at the end of the revival period or at the end of three years,
of the third policy year or at the end of the reinstatement period, whichever is whichever is later.
later. (b) The Policyholder, at his own expense, furnishes satisfactory evidence
of health of the Life Assured, if required;
If premium has been paid for three full Policy years and after three policy years (c) The receipt of arrears of premiums
have elapsed; and the Fund Value across all Funds under the Policy falls below (d) The revival of the policy may be on terms different from those
110% of one full year’s premium, the policy shall be terminated by paying the applicable to the policy before it lapsed; and
Fund Value after applying surrender charges, if applicable as per Clause 2.2. (e) The revival will take effect only on it being specifically communicated
by the Company to the Life Assured.
(f) During this period, the policyholder will continue to have the benefit of
11. Vesting on attaining majority investment in the respective unit funds.

Where the Policy has been issued on the life of a minor, the Policy will
automatically vest in him on his attaining majority and the Life Assured would be
Policy Document - Cont
3. Assignment and nomination
Facsimile : 022 67100803 / 805
a) An assignment of this policy may be made by an endorsement upon the E-mail : [email protected]
policy itself or by a separate instrument signed in either case by the assignor Notice and instructions sent by the Company to the Policyholders will be
specifically stating the fact of assignment and duly attested. The first deemed served 7 days after posting or immediately upon receipt in the case
assignment may be only made by the Proposer. Such assignment shall be of hand delivery, facsimile or e-mail.
effective, as against the Company, from and upon the service of a written
notice upon the Company and the Company recording the assignment in its It is very important that the Policyholder immediately informs the Company
books. Assignment will not be permitted where policy is under the Married about the change in the address or the nominee particulars to enable the
Women’s Property Act, 1874. Section 38 of the Insurance Act may be referred company to service him effectively.
for the complete provision.
10. Payment of Claim
b) The Life Assured, where he is the holder of the Policy, may, at any time
during the tenure of the Policy, make a nomination for the purpose of Before payment of any claim under the Policy, the Company shall require the
payment of the moneys secured by the policy in the event of his death. delivery of the original of this Policy document alongwith written intimation
Where the nominee is a minor, the Life Assured may also appoint a person to and other documents as mentioned below establishing the right of the
receive the money during the minority of the nominee. Nomination may be claimant or claimants to receive payment. Claim payments are made only in
made by an endorsement on the Policy and by communicating the same in Indian currency.
writing to the Company. Any change of nomination, which may be effected
before the termination of the Policy shall also be communicated to the 1. Claimant’s statement
Company. Section 39 of the Insurance Act may be referred for the complete 2. Death certificate issued by the local and medical authority in case
provision. of death claim
3. Medical evidence
The Company does not express itself upon the validity or accept any 4. Any other documents or information as may be required by the
responsibility on the assignment or nomination in recording the assignment or Company for processing of the claim depending on the cause of
registering the nomination or change in nomination. the claim.

4. Suicide 11. Legislative Changes

If the Life Assured, whether sane or insane, commits suicide within one year This policy including the premiums (including the rider premiums, if
from date of issue of this policy, then only the Fund Value shall be paid and applicable) and the benefits under the policy will be subject to the taxes and
the policy shall terminate on said payment. other statutory levies as may be applicable from time to time, and such taxes,
levies etc. will be recovered, directly and completely from the Policyholder.
Further, if the Life Assured, whether sane or insane, commits suicide within
one year from the effective date of increase in the Sum Assured, then the 12. Electronic Transactions
amount of increase shall not be considered in the calculation of the Death
Benefit. The Customer shall adhere to and comply with all such terms and conditions
as the Company may prescribe from time to time, and all transactions effected
5. Special Provisions by or through facilities for conducting remote transactions including the
Internet, World Wide Web, electronic data interchange, call centres,
Any special provisions subject to which this Policy has been entered into teleservice operations (whether voice, video, data or combination thereof) or
whether endorsed in the Policy or in any separate instrument shall be deemed by means of electronic, computer, automated machines network or through
to be part of the Policy and shall have effect accordingly. other means of telecommunication, established by or on behalf of the
Company, for and in respect of the Policy or its terms, or the Company’s other
6. Policy Alterations products and services, shall constitute legally binding and valid transactions
when done in adherence to and in compliance with the Company’s terms and
Policy alterations would be allowed after payment of alteast one full year’s conditions for such facilities, as may be prescribed from time to time.
premium subject to the rules of the Company and IRDA guidelines at that
point in time. 13. Customer Service

6. Incontestability (a) For any clarification or assistance, the policy holder may contact our
advisor or call our Customer Service Representative at the telephone
In accordance to the Section 45 of the Insurance Act,1938, no Policy of life numbers listed below during office hours (9.00 a.m. to 9.00 p.m.)
insurance shall after the expiry of two years from the date on which it was
effected, be called in question by an insurer on the ground that a statement The Policyholder may communicate with us on the following numbers:
made in the proposal of insurance or any report of a medical officer, or a Customer Service Helpline (Call Centre Timings: 9.00 A.M. to 9.00 P.M.,
referee , or friend of the Life Assured , or in any other document leading to the Monday to Saturday; excluding national Holidays).
issue of the Policy , was inaccurate or false , unless the insurer shows that
such statements was on material matter or suppressed facts which it was
material to disclose and that it was fraudulently made by the Policyholder and
that the Policyholder knew at the time of making it that the statement was State Number State Number
false or that it suppressed facts which it was material to disclose. Andhra
Pradesh 9849577766 Maharashtra (Mumbai) 9892577766
Provided that nothing in the section shall prevent the insurer from calling for
proof of age at any time if he is entitled to do so and no policy shall be Chattisgarh 9893127766 Maharashtra (Rest) 9890447766
deemed to be called in question merely because the terms of the Policy are West Bengal (Kolkatta,
adjusted on subsequent proof that the age of the Life Assured was incorrectly Delhi 9818177766 Howrah) 9831377766
stated in the proposal.
Goa 9890447766 Punjab 9815977766
The Company would declare the Policy void in case of suppression / mis-
statement / mis-representation of facts. Gujarat 9898277766 Rajasthan 9829277766
Haryana 9896177766
7. Notices (Karnal) Tamil Nadu (Chennai) 9840877766
Haryana 9818177766
Any notice, direction or instruction given under the Policy shall be in writing (Faridabad) Tamil Nadu (Rest) 9894477766
and delivered by hand, post, facsimile or e-mail to: Uttar Pradesh (Agra,
Bareilly, Meerut,
In case of the Policyholder/ Nominee Karnataka 9845577766 Varanasi) 9897307766
Uttar Pradesh (Kanpur,
As per the details specified by the Policy holder / Nominee in the Proposal Kerala 9895477766 Lucknow) 9935277766
Form / Change of Address intimation submitted by him. Madhya
Pradesh 9893127766 Uttaranchal 9897307766
In case of the Company: For all other cities, kindly call our Customer Service Toll Free Number 1800-
Address : Customer Service Desk
22-2020 from your MTNL or BSNL line.
ICICI Prudential Life Insurance
Company Limited
Alternatively the Policyholder may communicate with the Company:
Vinod Silk Mills Compound,
Chakravarthy Ashok Nagar, Ashok
Road Kandivali (East) umbai- 400 101
Policy Document - Cont
By mail at : Customer Service Desk Ombudsman, Territory of Pondicherry.
ICICI Prudential Life Insurance 6-2-47, Yeturu Towers Lane,
Company Limited Opp. Saleem Function Palace,
Vinod Silk Mills Compound, A.C. Guards, Lakdi-Ka-Pool,
Chakravarthy Ashok Nagar, Ashok Hyderabad- 500 004.
Road Kochi Centre State of Kerala and Union Territory of
Kandivali (East) Office of Insurance Lakshadweep, Mahe-a Part of Union Territory
Mumbai- 400 101 Ombudsman, of Pondichery
2nd floor, CC 27/2603,Pulinat
Facsimile : 022 67100803 / 805 Bldg.,
Opp. Cochin Shipyard,
E-mail : [email protected] M.G. Road, Ernakulam – 682
015.
The Company Web portal must be checked for updated contact numbers. Kolkata Centre States of West Bengal, Bihar, Sikkim,
Office of Insurance Jharkhand and Union Territories of Andaman
(b) The Company has a grievance redressal mechanism for resolution of any Ombudsman, and Nicobar Islands
dispute and any grievance or complaint in respect of this policy may be North British Bldg., 3rd floor,
addressed to:- 29, N. S. Road,
Kolkata- 700 001.
Grievance Redressal Committee, Lucknow Centre State of Uttar Pradesh and Uttaranchal
Customer Service Desk, Office of Insurance
ICICI Prudential Life Insurance Company Limited Ombudsman,
Stream House Chintel’s House, 1st floor,
Kamla Mills Compound 16, Station Road,
Building ‘A’ Senapati Bapat Marg Lucknow- 226 001.
Lower Parel Mumbai-13 Mumbai Centre States of Maharashtra and Goa
Office of Insurance
(c) The Central Government has established an office of the Insurance Ombudsman,
Ombudsman for redressal of grievances with respect to life insurance policies. 3rd floor, Jeevan Seva Annexe
For details of the Ombudsman log on to our website www.iciciprulife.com or (Above MTNL),
contact our Customer Service Desk. The addresses of the Office of the S.V.Road, Santacruz (W),
Insurance Ombudsman are given below: Mumbai- 400 054.

Insurance Ombudsman Jurisdiction


Centres
Ahmedabad Centre State of Gujarat and Union Territories of
Office of Insurance Dadra and Nagar Haveli and Daman and Diu The policy shall be subject to and be governed by this policy document and the
Ombudsman, terms and conditions of the schedule enclosed herewith including every
2nd floor, Ambica House, endorsement by the Company and shall together form a single contract. (Ver
Near C.U. Shah College, U48:3)
5, Navyug Colony, Ashram
Road, ANNEXURE
Ahmedabad-380 014. Rider Benefit(s) applicable if opted for

A. Accidental Death and Disability Benefit Rider


Bhopal Centre States of Madhya Pradesh and Chattisgarh
Office of Insurance (i) Accidental Death Benefit
Ombudsman,
1st floor, 117, Subject to the conditions set out below, if whilst the policy is inforce, the Life
Zone-II (Above D.M. Motors Assured is involved in an accident, but before the policy anniversary on which
Pvt Ltd.) his age nearer birthday is 65, resulting in his death the Company agrees to pay
Maharana Pratap Nagar, the person/s to whom the benefits are payable under the Policy an additional
Bhopal- 462 011. amount equal to the Accidental Death and Disability Benefit Sum Assured
Bhubneshwar Centre State of Orrisa (hereinafter referred to as “accidental cover”) under this rider benefit.
Office of Insurance
Ombudsman, In the event of such death occurring while the Life Assured is using, as a fare
62, Forest Park, paying passenger, authorised public mass surface transport namely bus or
Bhubneshwar- 751 009. train, operating under terms of such authorisation, the additional amount
payable under this benefit shall be enhanced to twice the amount of
Chandigarh Centre States of Punjab, Haryana, Himachal
accidental cover under this rider benefit.
Office of Insurance Pradesh, Jammu and Kashmir and Union
Ombudsman, territory of Chandigarh
S.C.O. No. 101, The conditions subject to which this benefit is payable, are:
102 & 103, 2nd floor,
a) The death due to accident must be caused by violent, external and
Batra Building, Sector 17-D,
visible means;
Chandigarh- 160 017.
Chennai Centre State of Tamil Nadu and Union Territories-
b) The death due to accident is not caused –
Office of Insurance Pondichery Town and Karaikal (which are
Ombudsman, part of Union Territory of Pondicherry)
Fatima Akhtar Court,
i. by attempted suicide or self inflicted injuries while sane or
4th floor, 453 (old 312),
insane, or whilst the Life Assured is under the influence of
Anna Salai, Teynampet,
any narcotic substance or drug or intoxicating liquor; or
Chennai- 600 018.
ii. by engaging in aerial flights ( including parachuting and
Delhi Centre States of Delhi and Rajasthan
skydiving) other than as a fare paying passenger on a licensed
Office of Insurance
passenger-carrying commercial aircraft (being a multi-
Ombudsman,
engined aircraft) operating on a regular scheduled route; or
2/2 A, Universal Insurance
iii. by the Life Assured committing any breach of law; or
Building,
iv. due to war, whether declared or not or civil commotion; or
Asaf Ali Road,
v. by engaging in hazardous sports / pastimes, i.e. taking part in
New Delhi- 110 002.
(or practising for) boxing, caving, climbing, horse racing, jet
Guwahati Centre States of Assam, Meghalaya, Manipur, skiing, martial arts, mountaineering, off piste skiing, pot
Office of Insurance Mizoram, Arunachal Pradesh, Nagaland and holing, power boat racing, underwater diving, yacht racing or
Ombudsman, Tripura any race, trial or timed motor sport.
Acquarius, Bhaskar Nagar,
R.G. Baruah Road, c) The accident shall result in bodily injury or injuries to the Life
Guwahati- 781 021. Assured independently of any other means;
Hyderabad Centre States of Andhra Pradesh, Karnataka and
Office of Insurance Union Territory of Yaman-a part of the Union
Policy Document - Cont
d) such injury or injuries shall, within 180 days of the occurrence of the date on which the Company has requested for the supply of such
accident, directly and independently of any other means cause the proof or submission to medical examination/s or, as the case may
death of the Life Assured. In the event of the death of the Life be, from the date on which the Life Assured is communicated of
Assured after 180 days of the occurrence of the accident, the wrongful admission of the claim, and thereafter the policy shall
Company shall not be liable to pay the Accidental Death and continue under such terms and conditions as the Company may
Disability Benefit Rider; and decide.
For the purpose of this benefit, a person shall only be regarded as
e) the death of the Life Assured shall occur before the date of ’Totally and permanently disabled’ if that person, due to accident or
termination of the Policy or before the Policy anniversary on which injury has suffered a loss such as:
his age nearer birthday is 65, whichever is earlier;
i the loss by physical separation of two limbs or the complete and
However, if the period of 180 days from the date of occurrence of irremediable loss of sight in both eyes or the loss by physical
the accident as stated in Clause (d) above continues on the Policy separation of one limb accompanied by the complete and
anniversary on which the Life Assured attains age 65 nearer irremediable loss of sight in one eye (where limb means an entire
birthday, the Company shall pay the Accidental Death and Disability hand or foot), or
Benefit rider on death of the Life Assured.
ii has been continuously disabled for a period of six consecutive
The Policy must be in force on the date of accident as well as on the months and has been determined by the Company, after
date of death. consideration of the reports and other information supplied by
the Company’s own medical practitioner, appointed to examine
(ii) Disability Benefit that person, to be incapacitated to such an extent as to render
that person unlikely ever to resume work or to attend any gainful
Subject to the conditions set out below, if whilst the policy is in force, the employment or occupation.
Life Assured is involved in an accident, but before the policy anniversary
on which his age nearer birthday is 65, resulting in his total and permanent B. Critical Illness Benefit Rider
disablement, which will disable him to work or follow any occupation or
profession, then with effect from and including the date of such disability Provided the policy is in force and the Life Assured is diagnosed to be
(hereinafter called “Disability Date”) the Company agrees to provide the suffering from any one of the Critical Illnesses (as defined below) after six
following benefit: months from the Date of issue of the Policy or commencement of this rider
but before the Policy anniversary on which he attains age 65 years nearer
1. Commencing from the first anniversary of the Disability Date and on each birthday, an amount equal to Sum Assured under this rider benefit shall fall to
anniversary thereafter pay in ten annual installments, each equal to one- be paid, subject to conditions set out below: -
tenth of the amount of accidental cover under this Rider Benefit. In the
event of the policy resulting in a claim before the receipt by the Life 1. The benefit shall not be payable in respect of any illness
Assured of the last such installment, then the installments remaining other than those defined as Critical Illness, nor shall it
unpaid shall become payable along with the claim. apply or be payable in respect of any of those said
illnesses the symptoms of which have occurred or which
The conditions subject to which the benefit is payable, are: has been diagnosed or for which the Life Assured received
treatment to or during the first 6 months from the date of
a) The disability must be caused by violent, external and visible issue of the policy or the date of commencement of this
means; rider.

b) The disability is not caused, 2. The benefit shall be payable on the Life Assured surviving
i. by attempted suicide or self inflicted injuries while sane or 28 days from such diagnosis.
insane, or whilst the Life Assured is under the influence
of any narcotic substance or drug or intoxicating liquor; or 3. The Critical Illness shall not have been caused by the
ii. by engaging in aerial flights ( including parachuting and existence of Acquired Immune Deficiency Syndrome or
skydiving) other than as a fare paying passenger on a the presence of any Human Immuno-deficiency Virus
licensed passenger-carrying commercial aircraft (being a Infection in the person of the Life Assured, self inflicted
multi-engined aircraft) operating on a regular scheduled injury, drug abuse, failure to follow medical advice, war,
route; or whether declared or not and civil commotion, pregnancy,
iii. by the Life Assured committing any breach of law; or breach of law, aviation other than as a fare paying
iv. due to war, whether declared or not or civil commotion; or passenger in a commercial licensed aircraft (being a multi-
v. by engaging in hazardous sports / pastimes, i.e. taking part engined aircraft), hazardous sports and pastimes;
in (or practising for) boxing, caving, climbing, horse
racing, jet skiing, martial arts, mountaineering, off piste 4. Written Notice of any claim for the benefit must be given
skiing, pot holing, power boat racing, underwater diving, to the Company within 60 days of such diagnosis.
yacht racing or any race, trial or timed motor sport.
5. The admission of any claim for this benefit will be subject
(c) If there are any other benefits payable under this rider benefit, then to satisfactory proof that the Life Assured is diagnosed to
all such benefits shall cease to be available on and after the be suffering from any one of the specified Critical Illness,
Disability Date. as the Company may reasonably require.

(d) The Disability must result within 180 days from the date of (7) The benefit shall automatically cease to be available when the policy is
occurrence of the accident. surrendered.

(e) Written notice of any claim for the benefit shall be served on the Note 1: A “Critical Illness “shall mean anyone of the following illnesses as
Company within 120 days of the Disability Date and the admission of defined separately hereunder occurring after 6 months from the date of
any claim for Disability Benefit will be subject to such proof (at the policy:-
expense of the Life Assured), as the Company may reasonably
require, that the Life Assured has become totally and permanently (a) Cancer - A malignant tumour characterized by uncontrolled growth and
disabled. Such proof shall be furnished to the Company along with spread of malignant cells and the invasion of tissue. The diagnosis must
the submission of the notice of the disability be histologically confirmed. The term Cancer includes Leukemia but
excludes the following;-
(g) The Company reserves the right to call for such medical i) All tumours which are histologically described as pre-
examinations as they may require and for this purpose, may advise malignant,non-invasive or carcinoma in situ;
the Life Assured to submit himself to one or more medical ii) All forms of lymphoma in presence of any Human Immuno-
examinations conducted by medical practitioner/s appointed by the deficiency Virus;
Company, the cost of which shall be borne by the company. iii) Kaposi’s Sarcoma in the presence of any Human Immuno-
deficiency virus;
(h) The payment of the Disability Benefit and the continuation thereof iv) Any Skin Cancer other than invasive malignant melanoma; and
shall be subject to such proof, as the Company may require, that the v) Early Prostate Cancer which is histologically described as T1
Life Assured has been totally and permanently disabled and has (including T1a and T1b) or another equivalent or lesser
continued to be totally and permanently disabled. If such proof is classification.
not furnished or if the Life Assured shall refuse or fail to submit for
medical examination/s when required to do so, or if at any time the (b) Coronary Artery By-Pass Graft Surgery (CABGS) – the undergoing of
Company is satisfied that a claim for benefit under this clause has open heart surgery on the advice of a Consultant Cardiologist to correct
been wrongly admitted, the Life Assured shall be deemed to have narrowing or blockage of one or more coronary arteries with by-pass
ceased to be totally and permanently disabled immediately from the grafts;
Policy Document - Cont
Angiographic evidence to support the necessity of the surgery will be
required. Balloon angioplasty, laser or any catheter-based procedures
are not covered.
Age nearest Mortality Age nearest Mortality
birthday charges birthday charges
(c) Heart attack – The death of a portion of heart muscle as a result of 41 2.65
inadequate blood supply as evidenced by an episode of typical chest
pain, new electrocardiographic changes and by elevation of the cardiac 7 0.72 42 2.82
enzymes. Diagnosis must be confirmed by a consultant physician. 8 0.72 43 3.04
9 0.75 44 3.31
(d) Kidney failure – End stage renal failure presenting as chronic
irreversible failure of both kidneys to function, as a result of which 10 0.77 45 3.62
either regular renal dialysis or renal transplant is undertaken. Evidence 11 0.85 46 3.98
of end stage kidney disease must be provided and the requirement for 12 0.96 47 4.39
dialysis or transplantation must be confirmed by a consultant physician
13 1.02 48 4.85
14 1.08 49 5.35
(e) Major Organ Transplant – The actual undergoing as a recipient of a 15 1.13 50 5.91
transplant of heart, liver, lung, pancreas or bone marrow as a result of
chronic irreversible failure. Evidence of end stage disease must be 16 1.17 51 6.51
provided and the requirement for transplantation must be confirmed by 17 1.22 52 7.15
a consultant physician. 18 1.26 53 7.85
(f) Stroke – A cerebrovascular incident resulting in permanent 19 1.29 54 8.60
neurological damage. Transient ischaemic attacks are specifically 20 1.33 55 9.39
excluded. 21 1.35 56 10.23
(g) Paralysis- Complete and permanent loss of the use of two or more 22 1.38 57 10.93
limbs as a result of injury or disease of the brain or spinal cord. To 23 1.40 58 11.83
establish permanence the paralysis must normally have persisted for at 24 1.42 59 12.93
least 6 months.
25 1.43 60 14.21
(h) Aorta-surgery- The actual undergoing of surgery (including key hole 26 1.45 61 15.69
type) for a disease or injury of the aorta needing excision and surgical 27 1.45 62 17.37
replacement of the diseased part of the aorta with a graft.
28 1.46 63 19.25
(i) Heart valve replacement/surgery- The undergoing of open heart 29 1.46 64 21.32
surgery, on the advice of a consultant cardiologist, to replace or repair 30 1.46 65 22.42
one or more heart valves
31 1.49 66 25.30
32 1.53 67 28.51
Note 2: 33 1.59 68 32.09
“Diagnosis” shall mean diagnosis made by a physician based on such 34 1.66 69 36.08
specific evidence as referred to in the definition of the particular Critical 35 1.75 70 40.51
Illness concerned or, in the absence of such specified reference, based 36 1.86 71 45.44
upon radiological, clinical, histological or laboratory tests acceptable to the
Company. In event of any doubt regarding the appropriateness or 37 1.98 72 50.92
correctness of the diagnosis, the Company shall have the right to call for 38 2.12 73 57.00
an examination of the Life Assured on the evidence used in arriving at such 39 2.30 74 63.75
diagnosis, by a Medical Specialist appointed by the Company and the
opinion of such specialist as to such diagnosis shall be considered binding 40 2.48 75 71.25
on both the Life Assured and the Company.
Notes:
“Physician” shall mean any person registered with the Indian Medical 1. The mortality charges applicable to female life assured will be those applicable to
Council to render medical or surgical services, but excluding a person who a two years younger male life assured.
is the Life Assured himself or a blood relative of the Life Assured. 2. For female life assured of age 7 and 8, the charges will be those applicable to male
life assured of age 7.
Note 3:

The charges under the Critical Illness Benefit rider are not guaranteed and
may be revised with prospective effect by giving the policyholder notice
and after approval from IRDA.

The policy shall be subject to and be governed by this policy document


and the terms and conditions of the schedule enclosed herewith
including every endorsement by the company and shall together form a
single contract (Ver U48:3)

Annexure

Standard Mortality Charges per thousand Life Insurance Cover (for male
life assured)
Policy Document - Cont
Critical Illness Benefit Rider
Standard Rider Charges per thousand Sum Assured

A g e n e a re s t
M a le s F e m a le s
b i r th d a y
18 0 .6 1 0 .5 4
19 0 .6 1 0 .5 4
20 0 .6 1 0 .5 4
21 0 .6 3 0 .5 8
22 0 .6 5 0 .6 3
23 0 .6 9 0 .6 8
24 0 .7 1 0 .7 4
25 0 .7 5 0 .8 1
26 0 .8 0 0 .8 9
27 0 .8 6 0 .9 9
28 0 .9 3 1 .1 1
29 1 .0 3 1 .2 5
30 1 .1 4 1 .4 0
31 1 .2 8 1 .5 9
32 1 .4 4 1 .7 9
33 1 .6 3 2 .0 0
34 1 .8 5 2 .2 5
35 2 .0 9 2 .5 1
36 2 .3 5 2 .7 9
37 2 .6 4 3 .1 0
38 2 .9 4 3 .4 3
39 3 .2 5 3 .7 9
40 3 .6 0 4 .1 5
41 3 .9 8 4 .5 4
42 4 .4 1 4 .9 6
43 4 .9 4 5 .4 0
44 5 .5 4 5 .9 0
45 6 .2 3 6 .4 3
46 7 .0 1 7 .0 1
47 7 .8 9 7 .6 5
48 8 .8 9 8 .3 3
49 9 .9 9 9 .0 3
50 1 1 .1 1 9 .7 3
51 1 2 .2 1 1 0 .4 0
52 1 3 .3 0 1 1 .0 6
53 1 4 .3 6 1 1 .7 0
54 1 5 .3 9 1 2 .3 3
55 1 6 .3 1 1 2 .9 5
56 1 7 .1 8 1 3 .5 9
57 1 8 .0 3 1 4 .2 9
58 1 8 .9 6 1 5 .0 6
59 1 9 .9 8 1 5 .9 3
60 2 1 .0 6 1 6 .8 4
61 2 2 .2 1 1 7 .7 8
62 2 3 .4 8 1 8 .7 4
63 2 4 .8 3 1 9 .7 3
64 2 6 .2 5 2 0 .7 0
65 2 7 .6 9 2 1 .6 8

These rates are not guaranteed. Any change would be made with approval from IRDA.

Accidental Death and Benefit Rider


Charges for all ages Rs. 0.9 per thousand Sum Assured

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