|
Option A – Cancer Cover |
Critical Illness Benefit
- Minor Condition: On diagnosis of Early Stage Cancer or Carcinuma in Situ (CiS) during thepolicy term while the policy is In-Force, 15% of Sum Assured for each Early Stage Cancer/CiSclaim is payable. A maximum of 2 Early Stage Cancer/CiS claims shall be payable during thepolicy term provided both claims are from different sites and/or organs subject to thecooling-off period of 180 days. In addition, the future premiums for the next 5 years from thedate of most recent early stage claim will be waived off and the policy will continue. Thisbenefit is available only on first and second valid Minor Condition claim. On completion ofthe 5 Years for which premiums have been waived, premium shall become payable by you onthe due dates for the remaining Policy Term.
- Major Condition: On diagnosis of Major Stage Cancer during the policy term while the policyis In-Force, 100% of Sum Assured less Early Stage Cancer/CiS claim(s) paid, if any, will bepayable and the policy will terminate if Term Trigger Benefit is not selected
Optional benefit
- Death Benefit: This benefit will be applicable onlyif Term Trigger Benefit is selected. In caseof death of the life insured after 365 days of survival from the date of diagnosis of any majorcondition, while the policy is in-force, we shall pay an amount equal to the Critical IllnessSum Assured. No Death Benefit will be paid if the death of the Life Insured happens beforethe expiry of 365 days from the date of diagnosis of any Major Condition. If this option isselected, then, on the diagnosis of Major Condition, all the future premiums will be waived.
- Date of Diagnosis of cancer is defined as the date on which Major stage cancer isunequivocally proven and qualifies the definition of Major stage cancer as per thedefinitions of covered Critical Illnesses mentioned later in the document. In case ofhistopathological evidence, it shall be the date of 1st such report confirming the diagnosis ofMajor stage cancer.
- Maturity Benefit: This benefit will be applicable only if the Return of Premium Benefit isselected. If the life insured survives till the maturity date while the policy is in-force, we shallpay the sum of all the premiums payable for the entire policy term after deducting anyamount paid towards claim(s), if any. The premiums payable above exclude taxes, if any.
- If Option A is opted with Term Trigger benefit then Return of Premium benefit is notavailable. Similarly, if Option A is opted with Return of Premium benefit, then Term Triggerbenefit is not available.
|
| Option B – Heart Ailment Cover |
Critical Illness Benefit
- Minor Condition: On diagnosis of Minor Heart Condition during the policy term while thepolicy is In-Force, 15% of Sum Assured for each Minor Heart Condition is payable. Amaximum of 2 Minor Heart Condition claims shall be payable during the policy term subjectto the cooling-off period of 180 days. However the second Minor Heart Condition claim isnot permissible if it occurs due to the same condition as the first Minor Heart claim. Inaddition, the future premiums for the next 5 years from the date of most recent Minor HeartCondition claim will be waived off and the policy will continue. This benefit is available onlyon first and second valid Minor Condition claim. On completion of the 5 Years for whichpremiums have been waived, premium shall become payable by you on the due dates for theremaining Policy Term.
- Major Condition: On diagnosis of Major Heart Condition during the policy term while thepolicy is In-Force, 100% of Sum Assured less Minor Heart Condition claim(s) paid, if any, will be payable and the policy will terminate
|
| Option C – Cancer & Heart Ailment |
Critical Illness Benefit
- Minor Condition: On diagnosis of Early Stage Cancer/(CiS) or Minor Heart Condition duringthe policy term while the policy is In-Force, 15% of Sum Assured for each Early StageCancer/(CiS) or Minor Heart Condition is payable. A maximum of 2 (either two Early StageCancer or two Minor Heart Condition or one each of Early Stage Cancer and Minor HeartCondition) claims shall be payable during the policy term subject to the cooling-off period of180 days (no cooling off period is applicable where the first claim is related to Early StageCancer/CiS and the second claim is related to Minor Heart Condition or vice versa) and thefollowing conditions:
- Second Early Stage Cancer/CiS claim shall be payable during the policy term provided thesecond Early Stage Cancer/CiS is from different sites and/or organs
- Second Minor Heart Condition claim is not permissible if it occurs due to the samecondition as the first Minor Heart claim
In addition, the future premiums for the next 5 years from the date of most recent MinorHeart Condition / Early Stage Cancer claim will be waived off and the policy will continue.This benefit is available only on first and second valid Minor Condition claim. On completionof the 5 Years for which premiums have been waived, premium shall become payable by youon the due dates for the remaining Policy Term.
- Major Condition: On diagnosis of either Major Stage Cancer or Major Heart Conditionwhichever is diagnosed first during the policy term while the policy is In-Force, 100% of SumAssured less Early Stage Cancer/CiS/Minor Heart Condition claim(s) paid, if any, will bepayable and the policy will terminate.
|
| Premium Discontinuance |
If Return of Premium Benefit is selected:If all the premiums for at least first three policy years have not been paid in full within the grace period, the policy shallimmediately and automatically lapse and no surrender value shall be payable by us under the policy.If all the premiums for at least first three policy years have been paid in full, and if the insurance company do not receive subsequent premiumswithin the grace period, the policy will be eligible for Surrender Benefits. The insured will be given two years from the date of first unpaid premium to revive the policy.
If Return of Premium Benefit is not selected:If any premium remains unpaid at the end of the grace period, the policy shall lapse and no benefits shall be payable.
|
| Surrender Benefit |
If Return of Premium Benefit is selected:The Policy will acquire Surrender Value only from 3rd Policy Year provided we have received full Premiums for at least firstthree Policy Years.On surrender, the Surrender Value, if any, will be immediately paid, the Policy shall be terminated and all the benefitsunder the Policy shall cease to apply.
If Return of Premium Benefit is not selected:The Policy shall not acquire any Surrender Value any time during the Policy Term.On surrender, the policy shall be terminated and all the benefits under the policy shall cease to apply. On surrender of thepolicy, we will pay the higher of Guaranteed Surrender Value or Special Surrender Value.
|
| Free Look Period |
15 days |
| Grace Period |
30 days |
