Annexure 5 Policy Doc SUD Guaranteed Money Back Plan Final

8/12/2019 Annexure 5 Policy Doc SUD Guaranteed Money Back Plan Final

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Policy document - Star Union Dai-ichis Guaranteed Money Back Plan

UIN: 142N036V01Policy Document Star Union Dai-ichis Guaranteed Money Back Plan V.6.0 Page 1 of 19

The Proposer and/or the Life Assured named in the Schedule of this Policy having submitted aproposal together with a Personal Statement and Declaration together with the first installment ofpremium specified in the Schedule to the STAR UNION DAI-ICHI LIFE INSURANCE COMPANYLIMITED [the Company which expression shall include its assigns and successors] for grant of thebenefits specified in the Schedule, it is agreed by the Company and the Proposer and/or the LifeAssured (the Parties) that the proposal, the Personal Statement and the Declaration together withany report or other document leading to the issue of this Policy shall form the basis of this contract of

assurance do hereby further agree that in consideration of the receipt of future premiums as stated inthe Schedule, the Company will pay such benefits [without interest] as herein stated, to theBeneficiary, on proof to the complete satisfaction of the Company of the benefits under the Policyhaving become payable in accordance with the terms and conditions hereof and of the Beneficiarysentitlement to them. It is further agreed by and between the Parties that any endorsement executed

either on the Policy itself or through a separate instrument by the Company and any special provisionssubject to which this Policy has been issued and any Annexures and Addendums hereto shall togetherform part of the Policy. It is also agreed that this Policy shall be governed by the laws of India in forcefrom time to time and all premiums and benefits shall be payable in Indian Rupees only. The benefitsattached to and the Premiums payable under this Policy will be subject to taxes and other statutorylevies as may be applicable from time to time, and such taxes, levies etc will be recovered, directlyand completely from the Policyholder.


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SCHEDULE I

Policy Details

Date of Application: < > Application Number: < >

Policy Number < > Client ID: < >

Date of Commencement

of Policy:

< > Date of Commencement of

Risk

< >

Sum Assured < > Basic Premium: < >

Policy Term < > Premium Paying Term 10 Years

Due Date of Last

Premium:

< > Premium Periodicity

Life Assured Details

Name of the Life

Assured /Policyholder

Age Admitted

Date of Birth of theLife Assured

Age

Gender

Address

Nominee Details

Name of the Nominee: Nominee Relationshipwith the Life Assured

Date of Birth of theNominee:

Age:

Name of theAppointee (In casethe nominee is aminor):

Age:

Appointeerelationship with

the nominee

Sum Assured Details

Sum Assured Policy Term Premium

Payment Term

Expiry /

Maturity Date

Base Plan < > < > 10 years < >

Benefits are payable to: The Policyholder/ Life Assured, the assignee where a validassignment/endorsement has been recorded ( in accordance with Section 38 of the Insurance Act,

1938), or in the event of death of the Life Assured; the Beneficiary where a valid nomination has beenregistered with the Company (in accordance with section 39 of the Insurance Act, 1938), 0or in the


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event of death of the Life Assured without making a valid nomination, the Executors, Administratorsor other legal representatives of the Policyholder, or the beneficiary earmarked in the policy under theprovisions of Sec. 6 of the Married Women Property Act, 1874 or to such person as directed by acourt of competent jurisdiction in India. (the person/s to whom the benefits are payable under thisPolicy are herein referred to as the Beneficiary). The benefits payable are limited at all times to themonies payable under this Policy.

The Company will pay the benefits (without interest) as herein stated under the Policy, havingbecome payable, to the Beneficiary / Policyholder on proof to the complete satisfaction of theCompany, in its sole discretion.

Special Provisions (if any) :>

Signed for and on behalf of the Star Union Dai-ichi Life Insurance Company LimitedMumbai,

Authorised Signatory

The Stamp Duty of Rs. (Rupee Only)

The life cover under this Policy shall commence only on the Date of Commencement of Risk.

SCHEDULE II

This is a Non-Linked Non-Participating Money Back product.

Definitions:

In this Policy unless the context otherwise requires.-

Age refers to the age last birthday of the Life Assured and Beneficiary

Annualised Premium means the premiums payable under this policy for a full policy year

Application refers to the proposal form as defined under IRDA (Protection of PolicyholdersInterest) regulations, 2002

BasicPremium or Regular Premium means the Premiumpayable periodically under the policy.

Beneficiary refers to the person(s)whom the benefits of the policy shall be payable as described inSchedule I above.

Business Day or Working Day means the day on which the offices of the Company remain openfor transactions with the public at the place where the concerned transaction is to be carried out.

Cover or Coverage, unless specifically mentioned, collectively refers to the Life Cover

Date of Commencement of Policy is the date as mentioned in Schedule I


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Date of Commencement of Risk means the later of

(a) the date on which the proceeds of the instrument of payment of the deposit towards the firstpremium are realized by the Company;

(b) the date on which the Company accepts the risk under the application for insurance as evidencedby the date of the First Premium Receipt ;

Death Benefit means the benefit payable on death of the Life Assured as specified in the policydocument.

Distance marketing includes every activity of solicitation (including lead generation) and sale ofinsurance products through the following modes: (i) Voice mode, which includes telephone-calling(ii) Short Messaging service (SMS) (iii) Electronic mode which includes e-mail, internet andinteractive television (DTH) (iv) Physical mode which includes direct postal mail and newspaper &magazine inserts and (v) Solicitation through any means of communication other than in person

Grace Period means the time granted by the insurer from the due date of payment of premium,without any penalty/late fee, during which time the policy is considered to be in-force with the riskcover without any interruption as per the terms of the policy.

IRDA means the Insurance Regulatory and Development Authority;

IRDA Rules means the regulations made and the guidelines, directives and circulars issued by theIRDA from time to time.

Lapsed PolicyA policy which has been terminated for non-payment of premiums where premium isnot paid within grace period

Life Cover means, the coverage granted by us for payment of the Death Benefit referred to in thesection Benefit Payableof this Schedule, in the event of death of the Life Assured while the Policyis in force;

Life Assured is the person at whose death / survival or happening of any other insured event, theinsurance proceeds will be payable

Maturity Benefit means the benefit which is payable on maturity as specified in the policydocument.

Maturity Date refers to the maximum date up to which the contract between the Policyholder andthe Company exists as per the terms and conditions specified in the policy document..

Paid up Sum Assured is the reduced sum assured payable on death or maturity under the Reduced

Paid Up policy.

Policy Anniversary is the date corresponding numerically with the Date of Commencement of thepolicy after every Policy Year;


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Policy holder refers to the Proposer and /or the Life Assured and includes an absolute assignee ofthis Policy.

Policy Month means a period of one month each reckoned from the date corresponding numericallywith the Date of Commencement of the policy.

Policy Term is the period as mentioned in Schedule I

Policy Year means a period of twelve consecutive policy months commencing from the Date ofCommencement of the policy and every period of twelve consecutive policy months followingthereafter;

Premium, unless specified otherwise, refers to the Basic Premium.

Reduced Paid up is the status acquired by the policy on discontinuance of due premiums afterpayment of at least full three years premiums.

Reinstatement means restoration of the policy, which was discontinued due t o non-payment ofpremium, after acquiring paid up value, by the insurer with all the benefits mentioned in thisdocument, with or without rider benefits if any, upon the receipt of all the premiums due and othercharges/late fee if any, as per the terms and conditions of the policy upon being satisfied as to the thecontinued insurability of the insured/policyholder on the basis of the information, documents andreports furnished by the policyholder, in accordance with the Companys Board approvedUnderwriting guidelines.

Revival of the policy is the act of putting a lapsed policy, which has not acquired any value as ondate of first unpaid premium, into force, after the grace period has expired. The company may requireevidence of insurability and will always require the insured to pay the total amount of overdue pastpremiums.

Sum Assured or Basic Sum Assured means the Sum Assured under Life Cover as chosen at theinception of the Policy.

We, Us, Our, Company or Ours refers to Star Union Daiichi Life Insurance CompanyLimited

You, Your or Yours refers to the Policy holder

Benefits Payable

1. Death BenefitSum Assured Plus Accrued Guaranteed Additions will be payable upon death during thepolicy term without deducting any survival benefits already paid, provided the policy is inforce and all due premiums are paid


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2. Survival BenefitsSurvival Benefits as mentioned below will become payable, provided the policy is in force and alldue premiums are paid under the policy.

If the Policy term is 10 years, 200% of the Annualised Premium (excluding taxes and extrapremiums, if any) will become payable immediately on survival to the 5

th Policy

Anniversary.


thPolicy Anniversary

and 10thPolicy Anniversary each.


thPolicy Anniversary,

10thPolicy Anniversary and on 15

thPolicy Anniversary each.

3. Maturity BenefitOn the date of maturity of the policy, Sum Assured plus Accrued Guaranteed Additions lesssurvival benefits already paid will be payable, provided the policy is in force and all due

premiums are paid.4. Surrender Benefit

The policy acquires a surrender value provided that policy is in force and all premiums havebeen paid for at least three consecutive full years. On surrender of the policy a lumpsumamount equal to higher of Special Surrender Value and Minimum Guaranteed SurrenderValue as defined in Section 6 of Schedule III will be paid to the policyholder and the contractgets terminated.

5. Guaranteed AdditionsThe Guaranteed Additions payable under the policy depends on the policy term chosen by thepolicyholder. Provided the policy is in force, the guaranteed additions for each completed year,

for which premiums have been paid will be payable at the end of the term of the policy or upondeath during the term of the policy.

For a Policy Term 10 years: 4% of annualized premium (excluding extra premiums & taxes, ifany) for each policy year will accrue throughout the policy term, provided the policy is inforce

For Policy Term 15 years: 5% of annualized premium (excluding extra premiums & taxes ifany) for each policy year will accrue throughout the policy term, provided the policy is in

force


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For Policy Term 20 years: 6% of annualized premium (excluding extra premiums & taxes ifany) for each policy year will accrue throughout the policy term, provided the policy is inforce

6. Rider Benefit(s)Not Applicable

SCHEDULE III

Terms and conditions

1. Age:a) The age of the Life Assured has been admitted under the Policy on the basis of the date of birth

declared in the Proposal/Application form (the Admitted Age). The Admitted Age is used tocalculate the Basic Premium and Extra Mortality Premium on Basic Cover.

b) In the event the Admitted Age is found to be incorrect at any time and the correct age of theLife Assured as determined by the Company (the Correct Age), which determination is solely

within the discretion of the Company, being such that it would have rendered the Life Assuredineligible for grant of the Life Cover, the relevant Cover(s) shall stand cancelled from inception,and the Company will refund to the Policyholder without interest, the Premium Paid (net ofexpenses incurred by the Company)

c) If the Correct Age is found to be higher than the Admitted Age but the Life Assured remainseligible of being insured under this Policy, then, subject to fresh underwriting, Basic Premiumand Extra Mortality Premiums, if any will be recalculated as per the Correct Age from the Date ofCommencement of Risk and the Policyholder shall pay to the Company the difference betweenthe premiums paid and premiums payable as per the Correct Age together with interest at theapplicable rate of interest (currently 9% p.a.)

d) If the Correct Age is found to be lower than the Admitted Age, the Basic Premium and ExtraMortality Premium, if any will be recalculated as per the Correct Age from the Date ofCommencement of Risk and the Company shall refund, without interest, the difference between

the premiums paid by the policyholder on the basis of the Admitted Age and the premiumscalculated as per the Correct Age.

2. Change in OccupationThe life assured should inform the Company if there is a change in occupation after the issue ofthe policy. Persons working in hazardous occupations will be screened suitably or will be offeredthe product at higher premium rates commensurate with the extra risk as per the Board approvedUnderwriting guidelines of the policy.

3. Payment of Premiums:


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a. The proposal deposit for the first Premium must be paid along with submission of the fullycompleted proposal form. Renewal Premiums are payable in full on the due date(s) as per thefrequency as stated in Schedule I. Partial premium payment is not accepted.

b. A grace period of 30 days following the due date of subsequent premium is allowed for annual,half-yearly and quarterly frequency. A grace period of 15 days following the due date ofsubsequent premium is allowed for monthly frequency.

c. Where premiums are received in advance, it will be adjusted on the relevant Due Date for suchpremiums.

d. The Policyholder will be liable to pay all applicable taxes as levied by the Government/ statutoryauthorities from time to time.

e. Premiums are payable on their due date till the end of the premium paying term or until the deathof the policyholder, whichever is earlier, even if renewal notice for the payment of premium is notreceived by the Policy holder .

4. Grace PeriodA grace period of 30 days following the due date of subsequent premium is allowed for annual,half-yearly and quarterly frequency. A grace period of 15 days following the due date ofsubsequent premium is allowed for monthly frequency.

If death occurs during the grace period, the full sum assured along with the accrued guaranteedadditions under the policy will be paid after deductions of the premiums then due and allpremiums falling due during the policy year.

5. Discontinuance of due premiumsLapse

If the policyholder has not paid the due premiums within the grace period, the policy lapses. If thepolicy lapses within the first three policy years, the life cover ceases and no benefits are payable

under the lapsed policy

Reduced Paid-Up Policy

If the premiums for at least three full years have been paid and subsequent premiums are not paid,

then the policy will acquire Reduced Paid-Up status and the Sum Assured gets reduced to Paid-Up Sum Assured , the amount of which will be equal to,

AssuredSumXpayablepremiumsofnumberTotal

paidpremiumsofnumberTotal

No further guaranteed additions will accrue to the reduced paid-up policy. However, all

Guranteed Additions accrued till the date of paid up, will continue to remain attached to thepolicy.


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The benefits under the reduced paid up policies are as defined below

Death:

In case of death of the life assured during the policy term, the Paid-Up Sum Assured (as definedabove) Plus the Accrued Guaranteed Additions without deducting any survival benefits alreadypaid will be payable.

Maturity:

In case of survival of the life assured till maturity, the Paid-Up Sum Assured (as defined above)

Plus the Accrued Guaranteed Additions Less Survival benefits already paid, if any, will bepayable at the time of maturity of the policy.

Survival Benefits:

Policy will not be entitled to any future Survival Benefits after acquiring Reduced Paid-Up status.

6. Surrender BenefitThe policy acquires a surrender value provided that policy has been in force and all premiumshave been paid for at least three consecutive full years.

Surrender Value payable would be higher of Minimum Guaranteed Surrender Value andSpecial Surrender Valueas defined below

6.A Minimum Guaranteed Surrender Value:

Minimum Guaranteed Surrender Value

Guaranteed Surrender Value + Surrender Value of the Guaranteed Additions already accrued tothe policy

Whereas Guaranteed Surrender Value is as defined below:

Guaranteed Surrender Value Factor x Total premiums paid (upto the date of surrender, excludingtaxes and extra premiums if any) less Survival Benefit paid, if any.

The Guaranteed Surrender Value Factors are given below.

Policy Term

Policy Year 10 15 20

1 0% 0% 0%

2 0% 0% 0%

3 30% 30% 30%

4 50% 50% 50%5 50% 50% 50%


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6 50% 50% 50%7 50% 50% 50%

8 70% 60% 60%

9 90% 65% 65%

10 90% 70% 65%

11 0% 75% 70%

12 0% 80% 70%

13 0% 85% 75%

14 0% 90% 75%

15 0% 90% 80%

16 0% 0% 80%17 0% 0% 85%

18 0% 0% 85%

19 0% 0% 90%

20 0% 0% 90%

Surrender Value of the Accrued Guaranteed Additions

The Surrender Value of the Accrued Guaranteed Additions is calculated as

Accrued Guaranteed Additions * Surrender Value Factors for Accrued Guaranteed Additions.

6.B Special Surrender Value:

Subject to the Minimum Guaranteed Surrender Value, the company may however pay a SpecialSurrender Value calculated according to the basis and method in use from time to time aftergetting IRDAs approval.

The Surrender Value payable will be subject to any statutory or any other restrictions as may beapplicable.

7. Revival of the Policy:Policy can be revived within a period of 2 years from the due date of the first unpaid premium onproduction of proof of continued insurability to the satisfaction of the Star Union Dai- ichi andpayment of all arrears of premium with interest at the applicable rate of interest (currently 9%p.a., the revision of this revival interest rate is subject to approval of IRDA) at the time of

payment, and on submission of the satisfactory medical evidence as per the board approvedunderwriting rules applicable at that time. The cost of the required medical examination, if any

will be borne by the policyholder.

The company reserves the right to accept or reject the revival of the lapsed policy. In case of nonrevival of policy the company has no liability to refund the medical cost.

8. Termination:a. Termination of Life Cover


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Life Cover shall cease on the occurrence of the earliest of the following events:

i. On the death of the Life Assured after settlement/repudiation of death benefit,ii. On the Surrender of the Policy

iii. On policy being lapsediv. On the maturity of the Policy after settlement of maturity benefit.9. Loan:No loan will be granted by the company against this policy.

10.Assignment

Assignment will be done as per Section 38 of the Insurance Act, 1938.

An assignment of a Policy issued under this plan, may be made by an endorsement upon the Policy

itself or by a separate instrument signed in either case by the assignor or his duly authorised agent andattested by at least one witness, specially stating the fact of assignment and duly attested. The firstassignment may be only made by the Proposer. Such assignment shall be effective, from and upon theserving of a written notice upon the Company and the Company recording the assignment in itsbooks.

Assignment will not be permitted if the policy is issued under the Married Womens property Act,

1874.

The Company does not express itself upon the validity or legality of any assignment made by thePolicyholder.

Upon the receipt of the notice of assignment in writing, the insurer shall record the fact of suchassignment together with the date thereof and the name of the assignee and shall, on the request of theperson by whom the notice was given, or of the assignee, grant a written acknowledgment of thereceipt of such notice.

Assignment of a policy made in accordance with section 38 of the Insurance Act, 1938 shallautomatically cancel a nomination.

11.NominationNomination will be done as per Section 39 of the Insurance Act, 1938.

The Policyholder, where he is also the Life Assured under the Policy, may at any time before the endof the Policy Term nominate one or more person(s) to receive the Death Benefits in the event of thedeath of the Life Assured while the Policy is in force for the full Sum Assured.

Where the Beneficiary is a minor, Policyholder may also appoint any person who is a major (theAppointee), to receive the Death Benefits during the minority of the Beneficiary. Any other child orindividual can be nominated, though the original structure, as per the Schedule, (save for the changein Beneficiary) of the Policy will not change. The Company will not recognize a nomination or achange in nomination for the Policy or of the appointment /change of appointment of an Appointee,


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until it receives a written notice of the same from the Policyholder at its office. Policyholder canmake a nomination only with regard to the entire Policy. If no Beneficiary is alive at the time of deathof the Life Assured, the Policyholders estate shall be deemed to be the Beneficiary.

The Company does not express itself upon the legality or validity or accept any responsibility inrespect of any nomination/ appointment of Appointee made by the Policyholder.

12.Incorrect information and Non DisclosureThe policy holder under the policy has an obligation to disclose every fact material to assessment ofthe risk of issuing the policy. However, if any of the information provided is incomplete or incorrect,the company reserves the right to vary the benefits, at the time of payment of such benefit or during

the term of the policy and further if there has been non disclosure of a material fact then the companymay treat the policy as null and void .

13.ForfeitureIn case of fraud or misrepresentation, the policy shall be cancelled immediately by paying thesurrender value, subject to the fraud or misrepresentation being established in accordance withSection 45 of the Insurance Act, 1938.

14.SuicideIn the event the Life Assured commits Suicide, whether sane or insane at that time, within twelve

months from the date of inception of Policy, the insurance cover shall be void and the nominee of thepolicyholder shall be entitled to 80% of the premiums paid (excluding extra premiums and taxes, ifany)

In the event the Life Assured commits Suicide, whether sane or insane at that time, within twelvemonths from the date of the last reinstatement/revival of the policy, the insurance cover shall be voidand the nominee of the policyholder shall be entitled to only surrender value, (higher of MinimumGuaranteed Surrender Value and Special Surrender Value) if any.

15.ClaimsIn the event of any claim under the Policy, the following documents are required to be submitted to

the Company along with the claim intimation:

1) Original Policy document.2) Original/Attested Death Certificate of the Life Assured from Municipal/Local Authorities (in caseof death claim).3) Claim forms duly filled in.4) Any other document/s or information as may be required by the Company for processing of the

claim depending on the cause of the claim.

Claim payment will be made only in Indian currency at the office of the Company situated inMumbai. The Company may, at its absolute discretion fix an alternative place in India for payment ofthe benefits at any time before or after the policy has become a claim.


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It is very important that the Policyholder immediately communicates any change of address ornomination to enable the Company to service his Policy effectively.

20.Grievance Redressal Procedure1. In case of any grievance please contact your agent, whose code and contact details are given

below.

Agent Code: >Contact Details: >

2. In case you are not satisfied with the decision of the above officer, or has not received anyresponse within 10 days, you may contact the following office for resolution, on the addressmentioned:

Customer Service Desk,Star Union Dai-ichi Life Insurance Company Ltd.,Corporate Office,

11th Floor, Raghuleela Arcade,IT Park, Sector 30 A,Opposite Vashi Railway Station,Vashi, Navi Mumbai 400 703Contact No: 022 39546300Email ID:[email protected]

3. In case he is not satisfied with the decision of the above officer, or has not received any responsewithin 10 days, he may contact the following official for resolution, on the address mentionedabove.

Sr. Vice President - Operations & Customer Service

Star Union Dai-ichi Life Insurance Company Ltd.,Corporate Office,11th Floor, Raghuleela Arcade,IT Park, Sector 30 A,Opposite Vashi Railway Station,Vashi, Navi Mumbai 400 703Contact No: 022 39546240

Email ID:[email protected]

4. In case he is not satisfied with the decision of the above officer, or has not received any responsewithin 10 days, the Policy holder/ Beneficiary may contact the following official for resolution, onthe address mentioned above.

Principal Compliance Officer
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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Star Union Dai-ichi Life Insurance Company Ltd.,Corporate Office,16th Floor, Raghuleela Arcade,IT Park, Sector 30 A,Opposite Vashi Railway Station,Vashi, Navi Mumbai 400 703

Email ID: [email protected]

5. In case the Policy holder / Beneficiary is not satisfied with the decision/resolution of theCompany, he may approach the Insurance Ombudsman at the address given below if his/her issuespertains to the following and to provision 12(1) of the Redressal of public grievances rules 1998:

o Insurance claim that has been rejected or dispute on legal construction of the policywith regard to a claim

o Delay in settlement of claimo Dispute with regard to premiumo Non-receipt of any insurance documento Any dispute in regard to premium paid or payable in terms of the policy.

Address of the Insurance Ombudsman:

Office of the

Ombudsman

Contact Details Areas of Jurisdiction

AHMEDABAD Insurance Ombudsman Office of theInsurance Ombudsman2 nd floor, Ambica HouseNr. C.U. Shah College5, Navyug Colony, Ashram Road,AHMEDABAD380 014 Tel.079-27546150Fax:079-27546142E-mail:[email protected]

Gujarat , UT of Dadra & NagarHaveli, Daman and Diu

BHOPAL Insurance OmbudsmanOffice of the Insurance Ombudsman Janak

Vihar Complex, 2 nd floorMalviya Nagar,

BHOPALTel. 0755-2769201/02 Fax:0755-2769203E-mail:[email protected]

Madhya Pradesh & Chhattisgarh

BHUBANESHWAR Insurance OmbudsmanOffice of the Insurance Ombudsman 62,Forest Park

BHUBANESHWAR751 009

Tel.0674-2596461(Direct)Secretary No.:0674-2596455Tele Fax - 0674-2596429

Orissa


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E-mail: [email protected]

CHANDIGARH Insurance Ombudsman Office of theInsurance Ombudsman S.C.O. No.101, 102 &103 2 nd floor, Batra BuildingSector 17-D ,

CHANDIGARH160 017

Tel.: 0172-2706196Fax: 0172-2708274E-mail:[email protected]

Punjab , Haryana, HimachalPradesh, Jammu & Kashmir , UT ofChandigarh

CHENNAI Insurance Ombudsman Office of theInsurance Ombudsman Fatima Akhtar Court ,4 th floor, 453 (old 312) Anna Salai,

Teynampet,CHENNAI600 018

Tel. 044-24333678Fax: 044-24333664E-mail:[email protected]

Tamil Nadu, UTPondicherryTown and Karaikal (which are partof UT of Pondicherry)
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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NEW DELHI Insurance Ombudsman Office of the

Insurance Ombudsman 2/2 A, UniversalInsurance Bldg. Asaf Ali Road

NEW DELHI110 002

Tel. 011-23239611Fax: 011-23230858

E-mail:[email protected]

Delhi & Rajashthan

GUWAHATI Insurance Ombudsman Office of the

Insurance Ombudsman Jeevan Nivesh, 5 thfloor

Nr. Panbazar Overbridge , S.S. Road

GUWAHATI781 001Tel. : 0361-2131307 Fax:0361-2732937E-mail:[email protected]

Assam , Meghalaya, Manipur,

Mizoram, Arunachal Pradesh,Nagaland and Tripura

HYDERABAD Insurance OmbudsmanOffice of the Insurance Ombudsman6-2-46 , 1 st floor, Moin Court Lane Opp.

Saleem Function Palace, A.C.Guards,Lakdi-Ka-Pool

HYDERABAD500 004

Tel. 040-23325325Fax: 040-23376599

E-mail:[email protected]

Andhra Pradesh, Karnataka and UTof Yanama part of the UT ofPondicherry

ERNAKULAM Insurance OmbudsmanOffice of the Insurance Ombudsman2 ND Floor, CC 27/2603, Pulinat Building ,

Opp. Cochin Shipyard,M.G. Road ,

ERNAKULAM682 015

Tel: 0484-2358734Fax:0484-2359336

E-mail: [email protected]

Kerala , UT of (a) Lakshadweep ,(b) Mahea part of UT ofPondicherry

KOLKATA Insurance Ombudsman Office of TheInsurance Ombudsman

Hindusthan Building Annexe, 4

th

Floor,4 Chittaranjan AvenueKOLKATA -700 072

Phone.: 033 2212 4339/4340Fax : 033 2212 4341Email:[email protected]

West Bengal , Bihar , Jharkhandand UT of Andeman & Nicobar

Islands , Sikkim

LUCKNOW Insurance OmbudsmanOffice of the Insurance OmbudsmanJeevan Bhawan, Phase 2,6 th floor, Nawal Kishore Rd. Hazratganj,

LUCKNOW226 001

Tel.:0522-2201188

Fax: 0522-2231310E-mail:[email protected]

Uttar Pradesh and Uttaranchal
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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UIN: 142N036V01

document leading to the issue of the policy, was inaccurate or false , unless the insurer shows thatsuch statement was on a material matter or suppressed facts which it was material to disclose and thatit was fraudulently made by the policyholder and that the policyholder knew at the time of making itthat the statement was false or that it suppressed facts which it was material do disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at anytime if he is entitled to do so, and no policy shall be deemed to be called in question merelybecause the terms of the policy are adjusted on subsequent proof that the age of the life insuredwas incorrectly stated in the proposal.

Governing Laws & Jurisdiction:

The terms and conditions of the Policy shall be governed by and subject to the laws of Republicof India. The parties shall be subject to the jurisdiction of the law courts situated at Mumbai or asprescribed in the relevant Laws/ Acts, for all matters and disputes arising from or relating to orconcerning the Application and the Policy.

Documents

Annexure 5 Policy Doc SUD Guaranteed Money Back Plan Final