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ICICI Lombard Life Insurance Plan: Welcome Letter

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mounika.avirineni
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17 views1 page

ICICI Lombard Life Insurance Plan: Welcome Letter

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: 07-JAN-2024
Policyholder: Mr. James Anderson
Address: 111 Willow Street, Keystone City, PA 19101
Mobile No: +1 555 111 2222
Dear Mr. James Anderson,
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 ICICI00789012345

Premium Payment Term 22 Years

Policy Term 32 Years

Payment Mode Quarterly

Modal Premium Amount (excluding taxes) Rs. 22,000.00

Basic Sum Assured Rs. 6,000,000.00

Definitions
Age: Age of the Insured as of his 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. 6,000,000.00 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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