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ICICI Lombard Life Insurance Plan: Welcome Letter

This document outlines an ICICI Lombard Life Insurance Plan. It provides details such as the policy number, premium payment term of 15 years, policy term of 25 years, basic sum assured of Rs. 5,500,000, death benefit of Rs. 5,500,000 payable to the nominee in case of death of the insured, and additional benefits of accidental death benefit and critical illness benefit. It also describes terms related to premium payment, policy servicing, nomination, assignment, taxation, and grievance redressal.

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mounika.avirineni
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27 views1 page

ICICI Lombard Life Insurance Plan: Welcome Letter

This document outlines an ICICI Lombard Life Insurance Plan. It provides details such as the policy number, premium payment term of 15 years, policy term of 25 years, basic sum assured of Rs. 5,500,000, death benefit of Rs. 5,500,000 payable to the nominee in case of death of the insured, and additional benefits of accidental death benefit and critical illness benefit. It also describes terms related to premium payment, policy servicing, nomination, assignment, taxation, and grievance redressal.

Uploaded by

mounika.avirineni
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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ICICI Lombard Life Insurance Plan

Individual Non-Linked, Non-Participating, Pure Risk Premium Life Insurance Plan

Welcome Letter
Date: 08-JAN-2024
Policyholder: Ms. Sophia Martinez
Address: 222 Aspen Street, Coast City, FL 32004
Mobile No: +1 555 333 4444
Dear Ms. Sophia Martinez,
Welcome to the ICICI Lombard Family. Thank you for purchasing an ICICI Lombard product and showing your faith and
confidence in us.

Policy Schedule

Policy Number ICICI00890123456

Premium Payment Term 15 Years

Policy Term 25 Years

Payment Mode Annual

Modal Premium Amount (excluding taxes) Rs. 18,000.00

Basic Sum Assured Rs. 5,500,000.00

Definitions
Age: Age of the Insured as of her last birthday.
Annualized Premium: The premium amount payable in a Policy Year excluding taxes and rider premiums.
Nominee: The person named to receive the benefits under the policy.

Policy Benefits
Death Benefit: The nominee will receive Rs. 5,500,000.00 in case of the insured's death.
Additional Benefits: Accidental Death Benefit, Critical Illness Benefit.
Maturity Benefit: No maturity benefit payable under this policy.

Premium Payment Conditions


Grace Period: 30 days from the premium due date.
Premium Discontinuance: All benefits will cease if the premium is not paid within the grace period.

Policy Servicing Conditions


Free Look Period: 30 days from the receipt of the policy to review terms and conditions.
Revival of Lapsed Policy: Policy can be revived within 5 years from the date of first unpaid premium.

General Terms & Conditions


Nomination: In accordance with Section 39 of the Insurance Act 1938.
Assignment: In accordance with Section 38 of the Insurance Act 1938.
Taxation: As per prevailing tax laws in India.

Grievance Redressal Mechanism


For any queries or concerns, contact us at:
Email: [email protected]
Phone: 1800-2666

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