LICs

LIC's NEW JEEVAN ANAND (WITH PROFITS) New

nR>mH$Z hoVw WmZ JEEVAN
SPACE FOR ENDORSEMENT
EbAmBgr H$m `y OrdZ AmZX (bm^ g{hV) ANAND
(UIN: 512N279V01)
(OrdZ ~r_m {ZJ_ A{Y{Z`_, 1956 mam gWm{nV)/(Established by the Life Insurance Corporation Act, 1956) PLAN NO: 815

^maVr` OrdZ ~r_m {ZJ_ H$mo ({Ogo BgHo$ ~mX {ZJ_ H$hm Om`oJm) `hm ZrMo gX{^V AZwgyMr _| C{ {IV ~r{_V `p V go EH$ Vmd VWm KmofUm Ama W_ r{_`_ H$s m{ hmoZo na Ama C V Vmd
VWm KmofUm Ama Cg_| {X`o J`o Ama gX{^V {ddaU Bg ~r_m nm{bgr Ho$ AmYma na C V VmdH$ Ama {ZJ_ mam Cgo drH$ma {H$`o OmZo na Bg AZwgyMr _o {ZYm[aV ~mX Ho$ r{_`_m| na {dMma H$aVo h`o
Ama CZH$s C{MV m{ {ZJ_ Ho$ Cg emIm H$m`mb` na {hVbm^ H$m {~Zm `mO Ho$ ^wJVmZ H$aZo Ho$ {b`o `hm `h Cg `p V `m `p V`m| H$mo `h nm{bgr Xr OmVr h, {Oho C V AZwgyMr Ho$ AZwgma `h
Xo` hmoJr, bo{H$Z BZ bm^m| Ho$ g~Y _o {ZJ_ H$s gVw{> Ho$ {b`o Bg ~mV H$m _mU VwV H$aZo na {H$ AZwgyMr _o {ZYm[aV aH$_ Ho$ Xo` hmoZo na Cg `p V `m `p V`m| H$mo hH$ H$m, Omo ^wJVmZ H$m Xmdm H$a
ahm hmo/aho hm|, H$s Vmd _o Cpb{IV ~r{_V `p V H$s Am`w H$s g`Vm Ho$ ~mao _o Xo` hmoJm, `{X dh nhbo Zht {X`m J`m hmo.
Ama EVXmam `h Kmo[fV {H$`m OmVm h `h nm{bgr BgHo$ n> ^mJ na A{H$V eVm] Ama gw{dYmAm| Ho$ AmYrZ hmoJr VWm Cn`w V AZwgyMr d {ZJ_ mam A{H$V `oH$ n>mH$Z nm{bgr Ho$ AJ _mZo Om`|J|.
THE LIFE INSURANCE CORPORATION OF INDIA (hereinafter called the Corporation) having received a Proposal along with Declaration and the first
premium from the Proposer and the Life Assured named in the Schedule referred to herein below and the said Proposal and Declaration with the
statements contained and referred to therein having been agreed to by the said Proposer and the Corporation as basis of this assurance do by this Policy
agree, in consideration of and subject to the due receipt of the subsequent premiums as set out in the Schedule, to pay the Benefits as set out in schedule
but without interest, at the Branch Office of the Corporation where this Policy is serviced to the person or persons to whom the same is payable in terms of
the said Schedule, on proof to the satisfaction of the Corporation of the Benefits having become payable as set out in the Schedule, 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 previously admitted.
And it is hereby declared that this Policy of Assurance shall be subject to the Conditions and Privileges printed on the back hereof and that the following
Schedule and every endorsement placed on the Policy by the Corporation shall be deemed part of the Policy.
_S>b H$m`mb`/DIVISIONAL OFFICE AZwgy{M/SCHEDULE emIm H$m`mb`/BRANCH OFFICE
nm{bgr g`m/Policy No.: _yb ~r_mH$V am{e ` _yb `moOZm Ho$ {b`o r{_`_ {H$V r{_`_ Xo` {V{W:
Basic Sum Assured ` (`)/Instalment Premium Due date of premium:
for Basic Plan `
r{_`_ ^wJVmZ H$s {d{Y:
nm{bgr ma^ H$s {V{W/Date of Mode of payment of premium:
Commencement of policy:
A{V_ r{_`_ H$s Xo` {V{W:
Due Date of Payment of Last premium for:
Omo{I_ H$s {V{W/Date of XKQ>Zm {hVbm^ ~r_m YZ EbAmBgr H$m XKQ>Zmde _`w
i) _yb `moOZm:
Commencement of Risk: (`)/Accident Benefit Ed AnJVm bm^ amBS>a {H$V
Basic Plan:
Sum Assured ` r{_`_ `/LIC's Accidental ii) EbAmBgr H$m XKQ>Zmde _`w Ed AnJVm bm^ amBS>a:
Death and Disability
Benefit Rider Instalment LIC's Accidental Death and Disability Benefit Rider:
`moOZm Ed_ Ad{Y: premium `
Plan and Policy Term: ~r{_V `p V H$s O_ {V{W:
Date of birth of the Life Assured:

~r{_V `p V H$s Am`w:

nyUmd{Y H$s {V{W: Hw$b r{_`_ {H$V (`)/Total Age of the Life Assured:
Date of Maturity: Instalment premium `
`m Am`w drH$V h?
Whether age Admitted?
~r_m A{Y{Z`_, 1938 H$s Ymam 39 H$o AVJV Zm{_V/Nominee under section 39 of the InsuranceAct, 1938: Vmd g`m:
Proposal No.:
Vmd H$s {V{W:
AJa Zm{_V Ad`H$ hmo, Vmo {Z`w$ `{$ H$m Zm_/If Nominee is a minor, the name of the Appointee: Date of the Proposal:
bm^ {MU gX^ H$.:
Benefit Illustration Reference No.:
VmdH$ H$m Zm_ Ama nVm/Name & Address of the Proposer: ~r{_V `{$ H$m Zm_ Ama nVm/Name & Address of the Life Assured:

do KQ>ZmE {OZHo$ hmoZo na bm^ Xo` h: BgHo$ {ddaU nrN>o H$s Amoa {XE JE h./Events on the happening of which benefits are payable: Details are mentioned overleaf.

~r_m YZ {H$gH$mo {_boJm/ VmdH$ `m ~r{_V `{$ `m ~r_m A{Y{Z`_ 1938 Ho$ AZwN>oX 38 Ho$ AVJV CgHo$ g_ZwXo{e{V `m ~r_m A{Y{Z`_ 1938 Ho$ AZwN>oX 39 Ho$
{Q>nUr `{X AmnH$mo H$moB {eH$m`V/naoemZr hmo Vmo Amn {eH$m`V {ZamH$aU A{YH$mar/bmoH$nmb go gnH$ H$a gH$Vo h {OZH$m nVm ZrMo {X`m Om ahm h AVJV CgHo$ Zm{_{V`m| `m CZ m_m{UH$ ~YH$m| `m emgH$m| `m A` {d{YH$ {V{Z{Y`m| H$mo {X`m OmEJm, {Oh| CgH$s gnXm `m Ho$db Bg nm{bgr
NOTE: In case you have any complaint/grievance, you may approach Grievance Redressal Officer/Insurance Ombudsman whose address is as under: Ho$ AVJV Xo` am{e Ho$ {bE ^maV gK Ho$ {H$gr am` `m jo Ho$ {H$gr `m`mb` go AnZo {V{Z{Y hmoZo H$m _mU-n m hmoJm.
To whom Sum Assured payable The Proposer or Life Assured or his Assignee under Section 38 of the Insurance Act 1938 or Nominees under
Section 39 of the Insurance Act 1938 or proved Executors or Administrators or other Legal Representatives
emIm H$m`mb` H$m nVm {eH$m`V {ZamH$aU A{YH$mar H$m nVm bmoH$nmb H$m nVm who should take out representation to his/ her Estate or limited to the moneys payable under this Policy from
Address of Branch Office Address of Grievance Redressal Officer Address of Insurance Ombudsman any Court of any State or Territory of the Union of India.
r{_`_ MwH$mZo H$s Ad{Y/Period [ZYm[aV A{V_ {H$V ^wJVmZ H$s {V{W VH$ `m BgHo$ nyd ~r{_V `p V H$s _`w hmoZo na.
during which premium payable Till the stipulated due date of the payment of last premium or earlier death of the Life Assured.
r{_`_ ^wJVmZ H$aZo H$s {V{W/Dates
when premium payable _| nyd {ZYm[aV A{V_ VmarI/On the stipulated due date in _____________________
{deof mdYmZ: {ddaU AJbo nR> na {X`m J`m h/Special Provisions: Details are mentioned overleaf.
{ZJ_ H$s Amoa go Cn`w V emIm H$m`mb` _o hVmj[aV {OgH$m nVm A{V_ n> na {X`m J`m h Ama {Og nVo na nm{bgr Ho$ g~Y _| g^r nMma {H$`m OmZm Mm{hE.
Signed on behalf of the Corporation at the above-mentioned Branch Office, whose address is given on the last page and to which all communications relating to the policy should be addressed:

{Q>nUr BZ {Z~YZm| VWm eVm}o Ama {deof mdYmZm|/eVm] H$s `m`m Ho$ g~Y _| H$moB {ddmX hmoZo na AJoOr ^m` {d{Y_m` hmoJm & {V{W/Date:
NOTE: In case of dispute in respect of interpretation of these terms and conditions and special provisions/conditions the English version shall stand valid.
OmM H$Vm/Examined by: H$Vo _wI/d[a>/emIm ~YH$
Amngo AZwamoY h {H$ Bg nm{bgr H$s OmM H$a b| Ama `{X H$moB JbVr {XImB Xo Vmo gwYmaZo Ho$ {bE Bgo VwaV bmQ>m X|. n H$./Form No.: p.Chief/Sr./ Branch Manager:
You are requested to examine this policy, and if any mistake be found therein, return it immediately for correction.
EO|gr H$moS>/Agency Code EO|gr H$m Zm_/Agency Name EO|Q> H$m _mo~mBb/Q>o{b\$moZ Z~a
AmB Ama S>r E AmB nOrH$aU g`m 512 Agent's Mobile Number / Landline Number
IRDAI Regn. No.: 512

Size : 12(H) x 7.5(W) inch

 do KQ>ZmE {OZHo$ hmoZo na bm^ Xo` h/Events on the happening of which benefits are payable : ^rVa VWm n[an$Vm {V{W Ho$ nyd {ZJ_ H$mo gVV ~r_m `mo`Vm H$m gVmofX _mU date of the first unpaid premium and before the end of the policy term, on
VwV H$aZo na VWm g^r ~H$m`m {{_`_mo Ho$ gmW {ZJ_ Zo g_` g_` na {ZYm[aV submission of proof of continued insurability to the satisfaction of the Corporation
KQ>ZmE/Events Xo` bm^/Benefits Payable and the payment of all the arrears of premium together with interest
{H$`o Xa go (N> _mhr MH$d{) `mO Ho$ gmW ^wJVmZ H$aHo$ nwZ d{VV H$am`m Om
H${WV nm{bgr Ad{Y H$s g_m{ go nhbo ~r{_V `{$ H$s _`w hmoZo na, _`w bm^, {Ogo ""_`w na ~r_mH$V am{e'' Ama {Z{hV `md{VV ~moZgm| Ed A{V_ A{V[a$ ~moZgm| Ho$ $n _|, `{X H$moB hmo, (compounding half-yearly) at such rate as fixed by corporation from time to time.
gH$Vm h& VWm{n {ZJ_ ~X nm{b{g`m| Ho$ dVZ H$mo _yb eVm] na drH$ma `m gemo{YV
~eV}nm{bgr AVZ r{_`_ Ho$ ^wJVmZ mam nyU $n go Mmby hmo. n[a^m{fV {H$`m J`m h, Xo` hmoJm. Ohm ""_`w na ~r_mH$V am{e'' _yb ~r_mH$V am{e Ho$ 125% `m dm{fH$sH$V r{_`_ Ho$ The Corporation, however, reserves the right to accept at original terms, accept
eVm] na drH$ma `m AdrH$ma H$aZo H$m A{YH$ma AnZo nmg gwa{jV aIVm h& ~X with modified terms or decline the revival of a discontinued policy. The revival of
10 JwZm _| A{YH$ Ho$ $n _| n[a^m{fV h. `h _`w bm^ _`w H$s {V{W na ^wJVmZ H$s JB g^r r{_`_m| Ho$ 105% go H$_ nm{bgr H$m nwZ dVZ V^r ^mdr hmoJm O~ {ZJ_ mam Cgo AZw_mo{XV {H$`m OmEJm VWm the discontinued policy shall take effect only after the same is approved by the
Zht hmoJm. Ohm r{_`_|, Cnamo$ r{_`_m| _| H$a, A{V[a$ r{_`_ Ama amBS>a r{_`_, `{X H$moB hmo, em{_b Zht h.
~r{_V `{$ H$mo {deof $n go gy{MV {H$`m OmEJm& Corporation and is specifically communicated to the Life Assured.
On death of the Life Assured before the end of Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary
stipulated Policy Term, provided the policy is in full Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death Revival of Rider(s), if opted for, will only be considered along with the revival of the
force by paying upto-date premiums. is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This amBS>a(am|) H$m nwZ: dVZ, `{X BgH$m M`Z {H$`m J`m h, Vmo CgH$m _yb nm{bgr Ho$ nwZ:
Basic policy and not in isolation.
death benefit shall not be less than 105% of all the premiums paid as on date of death. The dVZ Ho$ gmW hr {dMma {H$`m Om`oJm, AbJ go Zht.
premiums mentioned above exclude tax, extra premium and rider premiums, if any.
H${WV nm{bgr Ad{Y H$s g_m{ Ho$ ~mX ~r{_V `{$ H$s _`w hmoZo na, _yb ~r_mH$V am{e Xo` hmoJr. 4. OVr go gwajm g~Yr {Z`_: AJa Bg nm{bgr Ho$ g~Y _| VrZ df go H$_ H$s r{_`_ 4. Non-forfeiture Regulations: If less than three years' premiums have been paid in
~eV}nm{bgr nyU $n go Mmby hmo. H$m ^wJVmZ {H$`m J`m h Ama {H$gr AmJm_r r{_`_ H$m {Z`_mZwgma ^wJVmZ Zht {H$`m respect of this policy and any subsequent premium be not duly paid, all the
On death of the Life Assured after the end of the Basic Sum Assured shall be payable. J`m h, Vmo Bg nm{bgr Ho$ AVJV g_V bm^ W_ AXm r{_`_ H$s {V{W go [a`m`V benefits under this policy shall cease after the expiry of grace period from the date
stipulated Policy Term, provided the policy is in full force. of first unpaid premium and nothing shall be payable.
Ad{Y H$s g_m{ Ho$ ~mX W{JV hmo OmEJo Ama Hw$N> ^r Xo` Zht hmoJm.
nm{bgr Ad{Y H$s g_m{ na (`mZr n[an dVm na) OrdZ ~r{_V `{$ {Z{hV gab `md{VV ~moZgm| Ed A{V_ A{V[a$ ~moZg, `{X H$moB hmo, Ho$ gmW _yb ~r_mH$V am{e Xo` hmoJr. However, if after at least three full years' premium have been paid in respect of this
hmbm{H$, `{X Bg nm{bgr Ho$ g~Y _| H$_ go H$_ VrZ nyU dfm] Ho$ r{_`_ H$m ^wJVmZ
Ho$ {d_mZ ahZo na, ~eV}nm{bgr AVZ r{_`_ Ho$ ^wJVmZ mam nyU policy and any subsequent premiums be not duly paid, this policy shall not be
H$aZo Ama {H$gr AZwdVu r{_`_ H$m ^wJVmZ {Z`_mZwgma Z H$aZo Ho$ ~mX, `h nm{bgr
$n go Mmby hmo. wholly void, but shall subsist as a paid-up policy. The Basic Sum Assured shall be
Basic Sum Assured along with vested simple reversionary bonuses and Final Additional
nyUV: AdY Zht hmoJr, ~pH$ MwH$Vm nm{bgr Ho$ $n _| ahoJr. _yb ~r_mH$V am{e Eogr
On Life Assured surviving at the end of the Policy reduced to such a sum, called Paid-up Sum Assured and shall bear the same ratio
Term (i.e. on maturity), provided the policy is in full bonus, if any, shall be payable. am{e _| go H$_ hmo OmEJr, {Ogo MwH$Vm ~r_mH$V am{e H$hm OmVm h Ama BgH$m _yb
to the Basic Sum Assured as the number of premiums actually paid shall bear to
force by paying upto-date premiums. ~r_mH$V am{e go dhr AZwnmV hmoJm Omo dmV{dH$ $n go Xm r{_`_m| H$s g`m H$m
the total number of premiums originally stipulated for in the policy.
{deof mdYmZ Special Provisions: nm{bgr _| _ybV: `$ r{_`_m| H$s Hw$b g`m go hmoJm.
LIC's Accidental Death and Disability Benefit Rider (UIN: 512B209V01): The policy so reduced shall thereafter be free from all liabilities for payment of the
EbAmBg r H$s XKQ>Zmde _`w Ed AnJVm {hVbm^ gawjm (UIN: 512B209V01): `{X Bg H$ma KQ>r hB ~r_mH$V am{e H$s nm{bgr CgHo$ ~mX Bg_| Cbo{IV r{_`_ Ho$
within mentioned premiums, but shall not be entitled to participate in future profits.
If LIC's Accidental Death and Disability Benefit rider is opted for and the
EbAmBg r H$s XKQ>Zmde _`w Ed AnJVm {hVbm^ gawjm H$m {dH$n MZwm J`m h Ama dh Mmby h: same is inforce: Condition No.11 of Conditions and Privileges shall apply for ^wJVmZ Ho$ Xm{`d go _w$ hmoJr, bo{H$Z dh ^mdr bm^m| _| {V^m{JVm H$s A{YH$mar Zht However, the existing vested bonuses, if any, will remain attached to the reduced
"eV] Ed g{wdYmE' H$s eV g. 11 XKQ>Zm {hVbm^ ~r_m am{e H$o ~am~a am{e H$o {bE bmJy hmJor. an amount equal to the Accident Benefit Sum Assured. If LIC's Accidental hmoJr. `{n, dV_mZ {Z{hV ~moZg, `{X H$moB hmo, H$_ hB MwH$Vm nm{bgr go gb ahoJm. paid-up policy. On the policy becoming paid-up the special provisions mentioned in
`{X EbAmBg r H$s XKQ>Zmde _`w Ed AnJVm {hVbm^ gawjm H$m {dH$n Zht {b`m J`m h: Death and Disability Benefit rider is not opted for: Condition No.11 of nm{bgr Ho$ MwH$Vm hmoZo na AZwgyMr _| Cbo{IV {deof mdYmZ bmJy hmoZo go W{JV hm|Jo. the schedule will cease to apply. This Paid-Up Sum Assured along with vested
"eV] Ed g{wdYmE' H$s eV g. 11 bmJy Zht hmJor. Conditions and Privileges shall not apply.
`h MwH$Vm ~r_mH$V am{e, {Z{hV ~moZgm| Ho$ gmW, `{X H$moB hmo, `m Vmo nm{bgr Ad{Y Ho$ bonuses, if any, shall be payable either on death before Policy Term or on payment of
nhbo _`w hmoZo na `m n[an dVm bm^ Ho$ ^wJVmZ na Xo` hmoJm. nm{bgr Ad{Y Ho$ ~mX maturity benefit on expiry of the policy term. On death of the Life Assured after Policy
Bg nm{bgr _o Xr JB eV] d gw{dYm`| CONDITIONS AND PRIVILEGES WITHIN REFERRED TO ~r{_V `{$ H$s _`w hmoZo na Ho$db MwH$Vm ~r_mH$V am{e Xo` hmoJr. Term only Paid-up Sum Assured shall be payable.
1. Am`w _mU : Vmd n na Kmo{fV H$s JB ~r{_V `p V H$s Am`w na r{_`_ H$s JUZm 1. Proof of Age: The premiums having been calculated on the age of the Life Assured Cnamo$ H$WZ Ho$ ~mdOyX, `{X Bg nm{bgr Ho$ AVJV H$_ go H$_ VrZ nyU dfm] Ho$ Notwithstanding what is stated above, if atleast 3 full years' premiums have been
as declared in the Proposal, in case the age is found higher than such age, without r{_`_m| H$m ^wJVmZ {H$E OmZo Ho$ ~mX, {H$gr AZwdVu r{_`_ H$m ^wJVmZ {Z`_mZwgma paid in respect of this policy, and any subsequent premium be not duly paid, in the
hmo OmZo Ho$ CnamV `{X Am`w Cg Am`w go A{YH$ nmB OmVr h Vmo ~r_m A{Y{Z`_ 1938 prejudice to the Corporation's other rights and remedies, including those under Zht {H$`m OmVm h, Vmo W_ AXm r{_`_ H$s {Z`V {V{W go 6 _mh Ho$ ^rVa ~r{_V event of the death of the Life Assured within six months from the due date of first
Ho$ AVJV CnbY A{YH$mam| Ama CnMmam| na H$moB {VHy$b ^md S>mbo {~Zm, Eogo _m_bo the Insurance Act, 1938, the premiums shall be payable in such case at the rate unpaid premium, 125% of the Basic Sum Assured along with vested simple
`p V H$s _`w hmoZo H$s Xem _|, {ZZ{b{IV H$mQ>H$a _yb ~r_mH$V am{e Ho$ 125% H$m
_|, r{_`_ doe Ho$ g_` ghr Am`w Ho$ AmYma na {ZH$mbr JB Xa go Xo` hmoJm Ama calculated on the Basic Sum Assured for the correct age at entry, and the reversionary bonuses and final additional bonus, if any, will be paid after
^wJVmZ, {Z{hV gab `md{VV ~moZgm| Ed A{V[a$ ~moZg, `{X H$moB hmo (H$) _yb ~r_m
accumulated difference between the premiums for the correct age and the deduction of (a) the premium or premiums for the basic policy unpaid with
nm{bgr Ama^ hmoZo go boH$a Eogo ^wJVmZ H$s {V{W VH$ _yb r{_`_ Ama ghr Am`w Ho$ nm{bgr Ho$ VhV AXm r{_`_, _`y {XZmH$ VH$ `mO g{hV - Cht eVm] na Ogo {H$
original premiums, from the commencement of the Policy upto the date of such interest thereon upto the date of death, on the same terms as for revival of the
r{_`_ Ho$ ~rM Ho$ AVa H$s g{MV am{e Ama Cg na Cgr Ad{Y Ho$ {b`o {ZJ_ mam Cg payment shall be paid to the Corporation with interest at such rate as fixed by the
Cg g_` nm{bgr _| nwZ dVZ hoVw {H$`m OmVm, Ama (I) _yb nm{bgr Ho$ VhV AJbr
Policy during such period and (b) the unpaid premiums for the basic policy falling
g_` M{bV Xa go `mO g{hV ^wJVmZ H$aoJm, VWm{n mdYmZ h {H$ `{X ~r{_V `p V Corporation from time to time, however, that in case the Life Assured/Proposer
nm{bgr dfJmR>| Ho$ nyd AXm r{_`_ H$m ^wJVmZ Cgr H$ma {H$`m OmEJm Ogo {H$ nm{bgr
due before the next policy anniversary.
continues to pay the premiums at the rates shown herein, and also does not pay nyU n go Mmby ahr hmo.
Bg_| Cpb{IV r{_`_ H$s Xa go ^wJVmZ H$aVm aho Ama Cn`w V g{MV F$U am{e H$m Notwithstanding what is stated above, if at least five full years' premiums have
the above mentioned accumulated debt, the accumulated difference between the Cnamo$ H$WZ Ho$ ~mdOyX, `{X Bg nm{bgr Ho$ AVJV H$_ go H$_ nmM nyU dfm] Ho$
^wJVmZ Z H$ao Vmo nm{bgr ma^ hmoZo H$s {V{W go nm{bgr Ho$ Xmdm ~ZZo H$s {V{W VH$ been paid in respect of this policy, any subsequent premium be not duly paid, in
premiums for the correct age and the original premiums from the r{_`_m| H$m ^wJVmZ {H$E OmZo Ho$ ~mX, {H$gr AZwdVu r{_`_ H$m ^wJVmZ {Z`_mZwgma
ghr Am`w Ho$ r{_`_ Ama _yb r{_`_ Ho$ ~rM Ho$ AVa H$s g{MV am{e Ama Eogo AVa H$s the event of death of the Life Assured within 12 months from the due date of first
commencement of this Policy up to the date on which the Policy becomes a Zht {H$`m OmVm h, Vmo W_ AXm r{_`_ H$s {Z`V {V{W go 12 _mh Ho$ ^rVa ~r{_V unpaid premium, 125% of the Basic Sum Assured along with vested simple
`oH$ {H$V na Xmdo Ho$ g_` M{bV Xa go `mO Ho$ gmW Xo` hmoJr, Cgo nm{bgr na claim, with interest on each instalment of such difference at such rate as may be `p V H$s _`w hmoZo H$s Xem _|, {ZZ{b{IV H$mQ>H$a _yb ~r_mH$V am{e Ho$ 125% H$m reversionary bonuses and final additional bonus, if any, will be paid after
~r{_V `p V mam Xo` F$U _mZm Om`oJm VWm nm{bgr Ho$ AVJV Xmdm hmoZo na nm{bgr prevailing at the time of claim, shall accrue and be treated as a debt due by the Life ^wJVmZ, {Z{hV gab `md{VV ~moZgm| Ed A{V[a$ ~moZg, `{X H$moB hmo (H$) _yb ~r_m deduction of (a) the premium or premiums for the basic policy unpaid with
Assured / Proposer against the said Policy and shall be deducted from the Policy nm{bgr Ho$ VhV AXm r{_`_, _`y {XZmH$ VH$ `mO g{hV - Cht eVm] na Ogo {H$
H$s YZam{e go H$mQ> {b`m Om`oJm. interest thereon upto the date of death, on the same terms as for revival of the
moneys payable on the Policy becoming a claim.
Cg g_` nm{bgr _| nwZ dVZ hoVw {H$`m OmVm, Ama (I) _yb nm{bgr Ho$ VhV AJbr Policy during such period and (b) the unpaid premiums for the basic policy falling
`h ^r mdYmZ h {H$ doe Ho$ g_` ~r{_V `{$ H$s ghr Am`w Omo C$ Vm{bH$m _| {Z{X> Provided further that if the Life Assured's correct age at entry is such as would nm{bgr dfJmR>| Ho$ nyd AXm r{_`_ H$m ^wJVmZ Cgr H$ma {H$`m OmEJm Ogo {H$ nm{bgr due before the next policy anniversary.
~r_m dJ `m eVm] Ho$ AYrZ ~r_m Ho$ {bE Cgo A`mo` ~Zm Xo Vmo Cgo Bg nm{bgr Ho$ ma^ _| have made him/her uninsurable under the class or terms of assurance specified nyU n go Mmby ahr hmo. These provisions do not apply to optional riders as they do not acquire any paid up
M{bV Wm Ho$ AZwgma {ZJ_ mam XmZ {H$E OmZo dmbo Eogo ~r_m H$s `moOZm go ~r_m dJ in the said Schedule hereto, the class or terms shall stand altered to such Plan of
`o mdYmZ dH$pnH$ amBS>am| Ho$ {bE bmJy Zht hmoVo h, `m|{H$ CZH$m H$moB Xm _y` Zht value and the rider benefits cease to apply, if policy is in lapsed condition.
Assurance as are granted by the Corporation according to the practice in force at
`m ghVm] H$mo n[ad{VV H$a {X`m OmEJm, ~eV}{H$ ~r{_V `{$ H$mo drH$ma hmo, A`Wm hmoVm h Ama amBS>a bm^ W{JV hmo OmVo h, `{X nm{bgr H$mbmVrV pW{V _| h.
the commencement of this policy subject to the consent of the Policyholder,
nm{bgr {ZaV hmo OmEJr. otherwise the policy will be cancelled. 5. H$a: H$a godmH$a g{hV, `{X H$moB hmo, H$a H$mZyZ Ho$ AZwgma hmoJm Ama H$a H$s Xa 5. Tax: Taxes including Service Tax, if any, shall be as per the Tax laws and the rate of
M{bV Xa na bmJy hmoJr. tax shall be as applicable from time to time.
2. r{_`_ H$m ^wJVmZ: dm{fH$, AY}dm{fH$ AWdm _m{gH$ r{_`_mo Ho$ ^wJVmZ Ho$ {b`o 2. Payment of Premiums: A grace period of one month but not less than 30 days
[a`m`V Ad{Y EH$ _mh qH$Vw H$_ go H$_ 30 {XZ _m{gH$ r{_`_m| Ho$ {b`o 15 {XZ H$s M{bV Xam| Ho$ AZwgma H$a H$s am{e nm{bgr YmaH$ mam r{_`_m| na Xo` hmoJr, {OZ_| The amount of tax as per the prevailing rates shall be payable by the policyholder on
shall be allowed for payment of yearly or half-yearly or quarterly premiums and 15
[a`m`V Ad{Y Xr Om`oJr. `{X r{_`_ H$m ^wJVmZ [a`m`V Ad{Y g_m hmoZo go nwd Zht A{V[a$ r{_`_| Ed amBS>a r{_`_| em{_b h, `{X H$moB hmo. Xm H$a H$s am{e na premiums including extra premiums and rider premiums, if any. The amount of tax
days for monthly premiums. If the premium is not paid before the expiry of the
{H$`m OmVm h Vmo nm{bgr H$mbmVrV hmo Om`oJr. `moOZm Ho$ AVJV Xo` bm^m| H$s JUZm Ho$ {bE {dMma Zht {H$`m OmEJm. paid shall not be considered for the calculation of benefits payable under the plan.
days of grace, the Policy lapses.
Bg Ad{Y Ho$ XmamZ Ama Cg d V Xo` r{_`_ H$m ^wJVmZ H$aZo go nyd hr `{X ~r{_V
If the death of the Life Assured occurs within the grace period but before the 6. Forfeiture in Certain Events: In case any condition herein contained or endorsed
`p V H$s _`w hmo OmVr h Vmo ^r nm{bgr dY ahoJr Ama ~r_mYZ H$m ^wJVmZ C V 6. {deof n[apW`m| _| OVr: `{X Bg_| g_m{d> `m n>m{H$V {H$gr eV H$m CbKZ
payment of the premium then due, the policy will still be valid and the benefits hereon shall be contravened or in case it is found that any untrue or incorrect
r{_`_ VWm AJbr dfJmR> Ho$ nyd Xo` hmoZo dmbo AXm r{_`_ H$s H$Q>mVr Ho$ CnamV {H$`m OmVm h `m `{X nm`m OmVm h {H$ Vmd n, `p VJV H$WZ, KmofUm Ama
shall be paid after deductions of the said unpaid premium as also the unpaid statement is contained in the proposal, personal statement, declaration and
premium/s falling due before the next anniversary of the policy.
g~{YV boIm| _| H$moB Ag` `m JbV H$WZ gp_{bV h AWdm H$moB VmpdH$
{H$`m Om`oJm. connected documents or any material information is withheld, then and in every
OmZH$mar {N>nmB JB h Vmo Eogo `oH$ _m_bo _| `h nm{bgr AdY hmo OmEJr VWm Bg
`{X nm{bgr H$mbmVrV Zht hmoVr h Ama nm{bgr Ho$ VhV _`w H$s Xem _| Xmdm {H$`m J`m If the policy has not lapsed and the claim is admitted in case of death under a such case this policy shall be void and all claims to any benefit in virtue of this
nm{bgr Ho$ gX^ _| bm^ Ho$ g^r Xmdo ~r_m A{Y{Z`_, 1938 H$s Ymam 45 H$s g_`-
hmoJm Ohm r{_`_ ^wJVmZ H$m VarH$m dm{fH$ Ho$ Abmdm hmoJm, ^wJVmZ Z {H$E JE Policy where the mode of payment of premium is other than yearly, unpaid policy shall be subject to the provisions of Section 45 of the Insurance Act, 1938,
g_` na gemo{YV VWm bmJy hmo gH$Zodmbr `dWmAm| Ho$ AYrZ hmoJo&
r{_`_, AJa Hw$N> hmo Vmo, AJbr nm{bgr dfJmR> Ho$ nhbo AmZodmbr, H$mo Xmdo H$s aH$_ go premium, if any, falling due before the next policy anniversary shall be deducted as amended from time to time.
H$mQ> {b`m OmEJm. from the claim amount.
Xo` r{_`_ ""Hw$b {H$V r{_`_'' hmoJm {Og_| {ZZ em{_b hmoJm : The premium payable will be total instalment premium which includes 7. Am_h`m: `h nm{bgr AdY hmo OmEJr 7. Suicide: This policy shall be void
(i) _yb `moOZm Ho$ {b`o {H$V r{_`_ i) `{X ~r{_V `{$ (_mZ{gH$ $n go dW `m AdW) Omo{I_ ew$ hmoZo H$s {V{W go
(i) Instalment premium for Basic Plan and I) If the Life Assured (whether sane or insane) commits suicide at any time within 12
12 _mh Ho$ ^rVa {H$gr ^r g_` Am_h`m H$a boVm h Vmo {ZJ_ mam Bg nm{bgr Ho$
(ii) AJa EbAmBgr H$s XKQ>Zmde _`w Ed AnJVm bm^ gwajm {dH$n MwZm J`m h, Vmo (ii) Instalment premium for LIC's Accidental Death and Disability Benefit Rider, if LIC's months from the date of commencement of risk and Corporation will not entertain
EbAmBgr H$s XKQ>Zm Ed AnJVm bm^ gwajm Ho$ {bE {H$V r{_`_. AVJV {H$gr ^r Xmdo na {dMma Zht {H$`m OmEJm, Xm r{_`_m| Ho$ 80% H$mo N>moS>H$a, any claim under this policy except to the extent of 80% of the premiums paid
Accidental Death and Disability Benefit Rider option has been exercised. {Og_| H$moB H$a, A{V[a$ r{_`_ Ed amBS>a r{_`_, `{X H$moB h, em{_b Zht h,
excluding any taxes, extra premium and rider premiums, if any, provided the
~eV}{H$ nm{bgr Mmby AdWm _o hmo.
policy is inforce.
3. ~X nm{b{g`m| H$m nwZ: dVZ: ~X nm{b{g`m| H$m nwZ dVZ `{X nm{bgr [a`m`V 3. Revival of Discontinued Policies: If the Policy has lapsed due to
ii) `{X ~r{_V `{$ (_mZ{gH$ $n go dW `m AdW) nZwOrdZ H$s {V{W go 12
Ad{Y Ho$ ^rVa Xo` {{_`_ H$m ^wJVmZ Zm H$aZo Ho$ H$maU ~X hmo OmVr h, Vmo Cgo ~r{_V non payment of due premium within the days of grace, it may be revived during ii) If the Life Assured (whether sane or insane) commits suicide within 12 months
_mh H$o ^rVa {H$gr ^r g_` Am_h`m H$a bVom h Vmo _`w H$s {V{W VH$ Xm r{_`_m| from date of revival, an amount which is higher of 80% of the premiums paid till
`{$ Ho$ OrdZH$mb _| W_ AXm r{_`_ H$s {V{W go 2 H$_mJV df H$s Ad{Y Ho$ the lifetime of the Life Assured, but within a period of 2 consecutive years from the

Size : 12(H) x 7.5(W) inch

 H$o 80% (H$mBo H$a, A{V[a$ r{_`_ Ed amBS>a r{_`_, `{X H$mBo h, H$mo N>mSo >H$a) `m
A`nU _y`, Omo ^r am{e A{YH$ hm,o X`o hmJor, ~eVn}m{bgr Mmby AdWm _o hm.o {ZJ_
mam Bg nm{bgr H$o AVJV {H$gr ^r A` Xmdo na {dMma Zht {H$`m OmEJm.
8. A`nU _y`: H$_ go H$_ VrZ nyU dfm] VH$ r{_`_m| H$mo ^wJVmZ {H$E OmZo Ho$ ~mX {H$gr
^r g_` Bg nm{bgr H$mo ZH$Xr Ho$ {bE A`{nV {H$`m Om gH$Vm h.
nm{bgr Ad{Y Ho$ XmamZ JmaQ>rS> A`nU _y` Xm Hw$b r{_`_m| H$m {VeV hmoJr (H$a
H$s {Zdb) {Og_| H$moB A{V[a$ r{_`_| Ed amBS>am| Ho$ {bE r{_`_|, `{X Bgo MwZm J`m
hmo, em{_b Zht h. `h {VeV nm{bgr Ad{Y Ed Cg nmbgr df na AmYm[aV hmoJm,
{Og_| nm{bgr H$mo A`{nV {H$`m J`m h Ama Bg boI Ho$ {bE n[a{e>-& Ho$ $n _|
gb h.
BgHo$ A{V[a$, {Z{hV gab `md{VV ~moZgm|, `{X H$moB h, H$m A`nU _y` ^r Xo`
hmoJm, Omo {Z{hV ~moZgm| Ho$ {bE bmJy A`nU _y` KQ>H$ _| {Z{hV ~moZgm| Ho$ JwUm Ho$
~am~a h. `o KQ>H$ nm{bgr Ad{Y Ed Cg nmbgr df na AmYm[aV hmoJm, {Og_| nm{bgr
H$mo A`{nV {H$`m J`m h Ama Bg boI Ho$ {bE n[a{e>-&& Ho$ $n _| gb h.
`{n Bg nm{bgr Ho$ AVJV {deof A`nU _y` Xo` hmoJm, `{X `h nm{bgrYmaH$
Ho$ {bE A{YH$ {hVH$a hmo. {deof A`nU _y` MwH$Vm ~r_mH$V am{e (eV 4 _|
~VmE AZwgma) Ed {Z{hV gab `md{VV ~moZg H$m [a`m`Vr _y` hmoJm. Bg nm{bgr Ho$
{bE bmJy `o [a`m`V KQ>H$ AmBAmaS>rEAmB Ho$ nyd AZw_moXZ Ho$ gmW g_`-g_` na
~Xb gH$Vo h.
amBS>am| na H$moB A`nU _y` CnbY Zht hmoJm, `{X H$moB h.
9. F$U: nm{bgr Ad{Y Ho$ XmamZ F$U {b`m Om gH$Vm h, ~eV} H$_ go H$_ VrZ nyU dfm] Ho$
r{_`_m| H$m ^wJVmZ {H$`m J`m hmo, Omo {ZZm{H$V {Z`_m| d eVm] VWm Eogo AmJm_r {Z`_m|
d eVm] Ho$ AYrZ hmoJm, Omo {ZJ_ g_`-g_` na V` H$a gH$Vm h, VWm Omo Eogr am{e Ho$
{bE nm{bgr Ho$ A`nU _y` Ho$ ^rVa hmoJm.
i) {bE JE F$U Ama Cg na Xo` `mO H$s dgybr Ho$ {bE O_mZV Ho$ $n _| nm{bgr nyUV:
{ZJ_ Ho$ Zm_ na g_ZwXo{eV H$s OmEJr Ama CgHo$ mam aIr OmEJr.
ii) {ZJ_ H$mo F$U na `mO H$m ^wJVmZ g~{YV F$U drH$V H$aVo g_` {ZJ_ mam
{ZYm[aV Xa go N>_mhr MH$d{ AmYma na {H$`m OmEJm. `mO H$m W_ ^wJVmZ AJbr
nm{bgr dfJmR> `m N>: _mh nd AmZo dmbr {V{W, BZ_| Omo ^r g~{YV F$U XoZo Ho$ VH$mb
~mX AmE, na {H$`m OmEJm Ama CgHo$ ~mX `oH$ N>_mhr AmYma na {H$`m OmEJm. `mO
H$_ go H$_ N>: _mh Ho$ {bE {b`m OmEJm;
iii) {ZJ_ VrZ _mh H$s ndy gM y Zm XHo$a g_V `mO g{hV F$U am{e H$s AXm`Jr H$s _mJ
H$aZo H$o {bE A{YH$V hmJom. Amd`H$Vm hmZoo na F$U H$s AXm`Jr Z hmo nmZo H$s Xem _| `m
`hm Cnamo$ {Z`V {V{W`m| na `m H$_e: `Ho$ {Z`V {V{W H$o ~mX 30 {XZm| H$o ^rVa
`mO H$s AXm`Jr Z H$a nmZo H$s Xem _,| {ZJ_ mam nm{bgr H$m,o H$mBo gMyZm {XE OmZo H$s
Amd`H$Vm H$o ~Ja ~X H$a {X`m OmEJm Ama {ZJ_ F$U d `mO H$o ^JwVmZ _| nm{bgr H$o
g~Y _| AZ_w{V`mo` A`nU _y` bmJy H$aZo H$m A{YH$mar hmJom. `{n nUyV: MHw$Vm `m
^mdr nm{b{g`m| H$o _m_bo _| Ch| ~X H$aZo H$s H$m`dmhr bmJy Zht hmJor.
iv) nm{bgr Ho$ n[an d hmoZo H$s pW{V _| `m _`w Xmdo H$s pW{V _| {ZJ_ F$U am{e
`m CgHo$ {H$gr ^mJ H$m, Omo ~H$m`m hmo, nm{bgr YZ go `mO g{hV H$mQ>Zo H$m A{YH$mar
hmoJm.
10. g_ZwXoeZ Ama Zm_mH$Z:
A) g_ZwXoeZ Bg bmZ Ho$ AVJV ~r_m A{Y{Z`_ 1938 H$s$ Ymam 38 Ho$ AZwgma
g_ZwXoeZ H$s AZw_{V h& Ymam 38 H$s dV_mZ bmJy `dWmE Bg nm{bgr XVmdoO Ho$
n[a{e> - III _| g_m{d> h&
g_ZwXoeZ H$s gyMZm {ZJ_ Ho$ {Og H$m`mb` go nm{bgr godm Xr Om ahr h, dhm na
nOrH$aU Ho$ hoVw VwV H$s OmZr Mm{hE&
~) Zm_mH$Z g_`-g_` na gemo{YV ~r_m A{Y{Z`_ 1938 H$s Ymam 39 Ho$
AZwgma OrdZ ~r_m nm{bgr YmaH$ H$mo Zm_mH$Z H$aZm Amd`H$ h& Ymam 39 H$s dV_mZ
bmJy `dWmE Bg nm{bgr XVmdoO Ho$ n[a{e> - IV _| g_m{d> h&
Zm_mH$Z `m Zm_mH$Z _| n[adVZ H$s gyMZm {ZJ_ Ho$ {Og H$m`mb` go nm{bgr godm Xr Om
ahr h, dhm na nOrH$aU Ho$ hoVw VwV H$s OmZr Mm{hE& Zm_mH$Z H$m nOrH$aU H$aZo na
{ZJ_ H$moB Xm{`d drH$ma Zhr H$aoJm `m CgH$s dYVm `m dYm{ZH$ n[aUm_ na H$moB
{Q>nUr Zht H$aoJm&
11. EbAmBgr H$m XKQ>Zmde _`w Ed AnJVm {hVbm^ amBS>a: Bg nm{bgr Ho$ Co` 11. LIC's Accidental Death and Disability Benefit Rider: An Accident for the purpose
go EH$ XKQ>Zm H$mo Bg H$ma n[a^m{fV {H$`m J`m h : ""EH$ XKQ>Zm AMmZH$,
A`m{eV Ed AdpN>H$ $n go hmoZo dmbr KQ>Zm h, Omo ~m, qhgH$ Ed
{XImB XoZo `mo` gmYZm| go hmo.''
EbAmBgr H$m XKQ>Zmde _`w Ed AnJVm {hVbm^ A{V[a$ r{_`_ Ho$ ^wJVmZ na
CnbY h.
EH$ ^mdr nm{bgr Ho$ AVJV XKQ>Zmde _`w Ed AnJVm bm^ amBS>a H$mo r{_`_
^wJVmZ Ad{Y Ho$ ^rVa {H$gr ^r g_`, bo{H$Z Cg nm{bgr dfJmR> Ho$ nhbo MwZm Om
gH$Vm h, {Og na OrdZ ~r{_V `{$ Ho$ {ZH$Q> O_{XZ H$s Am`w 70 df h. Ohm ^r
nm{bgr Ho$ AVJV Bg amBS>a H$mo MwZm J`m h, dhm ~r_m gwajm nm{bgr Ad{Y Ho$ XmamZ
`m Cg nm{bgr dfJmR> Ho$ nhbo CnbY hmoJr, {Og na ~r{_V `{$ Ho$ {ZH$Q> O_{XZ
H$s Am`w 70 df h, Omo ^r OXr hmo, ~eV} XKQ>Zm H$s {V{W na nm{bgr nyU ~r_mH$V
am{e Ho$ {bE Mmby AdWm _o hmo.
Size : 12(H) x 7.5(W) inch
the date of death (excluding any taxes, extra premium and rider premiums, if any,)
or the surrender value, shall be payable. The Corporation will not entertain any
other claim under this policy.
8. Surrender Value: The policy can be surrendered for cash at any time provided
atleast three full years' premiums have been paid.
The Guaranteed Surrender Value during the Policy Term shall be a percentage of
total premiums paid (net of tax) excluding any extra premiums and premiums for
riders, if opted for. This percentage will depend on the Policy Term and policy year
in which the policy is surrendered and is enclosed as Annexure I to this
document.
In addition, the surrender value of vested simple reversionary bonuses, if any,
shall also be payable, which is equal to vested bonuses multiplied by the
Surrender Value factor applicable to vested bonuses. These factors will depend
on the Policy Term and policy year in which the policy is surrendered and is
enclosed as Annexure II to this document.
However, under this policy, Special Surrender Value will be payable, if it is more
favorable to the Policyholder. The Special Surrender Value will be the discounted
value of the Paid-up Sum Assured (as defined in Condition 4) and vested simple
reversionary bonuses. These discounting factors applicable to this policy may
change from time to time with prior approval of IRDAI.
No surrender value will be available on Riders, if any.
9. Loans: Loan can be availed under this policy provided atleast three full years'
premiums have been paid subject to the following terms and conditions, within
the surrender value of the policy for such amounts and on such further terms and
conditions as the Corporation may fix from time to time:
(i) The Policy shall be assigned absolutely to and held by the Corporation as security
for the repayment of Loan and of the interest thereon;
(ii) Interest on Loan shall be paid on compounding half-yearly basis to the
Corporation at the rate to be specified by the Corporation at the time of taking loan
under this policy. The first payment of interest is to be made on the next Policy
anniversary or on the date six months before the next Policy anniversary
whichever immediately follows the date on which the Loan is sanctioned and
every half year thereafter. Interest is charged for a minimum period of six months;
(iii) Corporation shall be entitled to call for repayment of the Loan with all due interest
by giving 3 months' notice. In the event of failure to repay the Loan when required
or to pay interest on the due dates as herein above mentioned or within 30 days
after each due date respectively the policy shall be without the necessity of any
notice being given, foreclosed by the Corporation and the Corporation shall be
entitled to apply the surrender value allowable in respect of the policy in payment
of the Loan and interest. However, in case of fully paid up or inforce policies
foreclosure action shall not be applicable;
(iv) In case the policy shall mature or become a claim by death, the Corporation shall
become entitled to deduct the amount of the Loan or any portion thereof which is
outstanding, together with all interest from the policy moneys.
10. Assignments and Nominations:
a) Assignments: Assignment is allowed under this plan as per section 38 of the
Insurance Act, 1938, as amended from time to time. The current provisions of
Section 38 are enclosed in Annexure-III of this policy document.
The notice of assignment should be submitted for registration to the office of the
Corporation, where the policy is serviced.
b) Nominations: Nomination by the holder of a policy of life assurance is required
as per section 39 of the Insurance Act, 1938, as amended from time to time. The
current provisions of Section 39 are enclosed in Annexure-IV of this policy
document.
The notice of nomination or change of nomination should be submitted for
registration to the office of the Corporation, where the policy is serviced. In
registering nomination the Corporation does not accept any responsibility or
express any opinion as to its validity or legal effect.
of this policy is defined as An Accident is a sudden, unforeseen and
involuntary event caused by external, violent and visible means.
LIC's Accidental Death and Disability Benefit Rider is available on payment of
additional premium.
Under an inforce policy the Accidental Death and Disability Benefit Rider can be
opted for at any time within the premium paying term but before the policy
anniversary on which the age nearer birthday of the Life Assured is 70 year.
Wherever this rider has been opted for under the policy, the cover will be available
during the policy term or before the policy anniversary on which the age nearer
birthday of the Life Assured is 70 years, whichever is earlier, provided the Policy is
in force for the full Sum Assured as on date of accident.
Bg {hVbm^ Ho$ {bE A{V[a$ r{_`_ Ho$ ^wJVmZ H$s Amd`H$Vm Bg nm{bgr Ho$
AVJV g_V r{_`_m| H$m ^wJVmZ hmo OmZo Ho$ ~mX `m Cg nm{bgr dfJmR> na Ama
CgHo$ ~mX Zht hmoJr, {Og na OrdZ ~r{_V `{$ Ho$ {ZH$Q>V_ O_{XZ na Am`w 70
df hmo, Omo ^r nhbo hmo. `{n Cg _yb nm{bgr Ho$ AVJV r{_`_, {OgHo$ gmW `h
amBS>a gb h, H$m ^wJVmZ 70 df H$s Am`w Ho$ ~mX ^r V~ VH$ Omar ahoJm, O~ VH$
nm{bgr Ad{Y g_m Zht hmo OmVr, Omo ^r bmJy hmo.
^maVr` OrdZ ~r_m {ZJ_ Ho$ gmW Cgr OrdZ na, {Og na AJm{H$V bm^ bmJy hmoVo h,
d`{$H$ nm{b{g`m| Ama gmW hr g_yh nm{b{g`m| Ho$ AVJV br JB g^r nm{b{g`m|,
{OZ_| nhbo go hr XKQ>Zm {hVbm^ dmbr nm{b{g`m em{_b h, Ho$ AVJV ~r_m H$s
A{YH$V_ g_o{H$V gr_m {H$gr ^r Xem _| XKQ>Zm bm^ ~r_mH$V am{e Ho$ . 100 bmI
go A{YH$ Zht hmoJr. AJa Bg_| EH$ go A{YH$ nm{b{g`m h Ama AJa Hw$b XKQ>Zm
{hVbm^ . 100 bmI go A{YH$ hmoVm h, Vmo Omar nm{b{g`m| H$s {V{W Ho$ H$_ _| W_
. 100 bmI XKQ>Zm bm^ ~r_mH$V am{e Ho$ {bE {hVbm^ bmJy hm|Jo.
`{X {H$gr ^r g_`, O~ `h nm{bgr nyU ~r_mH$V am{e Ho$ {bE ^md _| h, ~r{_V `{$
{H$gr XKQ>Zm go g~ hmoVm h, Ohm Eogr XKQ>Zm AMmZH$, A`m{eV Ed AdpN>H$
$n go hmo, Omo ~m, qhgH$ Ed {XImB XoZo `mo` gmYZm| go hmo Ama Eogr MmoQ> AHo$bo,
`j Ed A` g_V H$maUm| go AbJ hmoH$a BgHo$ hmoZo Ho$ 180 {XZm| Ho$ ^rVa hmoJr,
{OgHo$ n[aUm_d$n (H$) WmB Ed gnyU AnJVm hmo, Ogm {H$ `hm n[a^m{fV {H$`m
J`m h `m (I) ~r{_V `{$ H$s _`w hmo Ama Cgo {ZJ_ H$s gVw{> hmoZo VH$ {g {H$`m
J`m hmo, Vmo {ZJ_ BZ _m_bm| _| gh_V hmoVm h :
(H$) ~r{_V `{$ H$s AnJVm : (i) Bg nm{bgr Ho$ AVJV 10 dfm] _| {dVm[aV g_mZ
_m{gH$ {H$Vm| _| XKQ>Zm {hVbm^ ~r_mH$V am{e Ho$ ~am~a A{V[a$ am{e H$m ^wJVmZ.
`{X 10 dfm] H$s H${WV Ad{Y Ho$ H$mbmVrV hmoZo go nhbo nm{bgr _`w `m n[an dVm Ho$
mam H$moB Xmdm ~ZVr h, Vmo AnJVm bm^ {H$V| Omo ~H$m`m Zhr hB hm|, H$m ^wJVmZ Xmdo Ho$
gmW {H$`m OmEJm Ama (ii) XKQ>Zm {hVbm^ ~r_mH$V am{e H$s gr_m VH$ nm{bgr Ho$
AVJV AmXo` ^mdr r{_`_m| (_yb `moOZm Ho$ AVJV r{_`_ g{hV) Ho$ ^wJVmZ H$s
_m\$s. {H$gr A` amBS>a Ho$ {bE, `{X Cgo MwZm J`m h, r{_`_ H$m ^wJVmZ Omar ahoJm.
r{_`_ Ho$ ^wJVmZ H$s Ny>Q> go Bg nm{bgr Ho$ AVJV g^r {dH$n Ama Bg IS> Ho$ (I)
_| em{_b {hVbm^ g_m hmo OmEJo, {gdm` CZ ~r_m| Ho$, `{X H$moB hm|, Omo ~r{_V `{$
H$s g^r _mOyXm nm{b{g`m| Ho$ AVJV Hw$b XKQ>Zm bm^ ~r_mH$V am{e go A{YH$ hm| Ama
Omo r{_`_ Ho$ gVV ^wJVmZ mam Mmby aIo JE hm|.
`h Amd`H$ h {H$ Cnamo$ AnJVm {H$gr XKQ>Zm H$m n[aUm_ hmo Ama nyU d WmB hmo.
XKQ>Zmde MmoQ>| Omo A` g^r H$maUm| go dV hmo Ama Eogr XKQ>Zm Ho$ hmoZo go 180
{XZm| Ho$ ^rVa hmoZo Ho$ \$bd$n Eogr AnJVm pW{V hmo {OgHo$ H$maU ~r{_V `{$
`mrH$s` CnH$aU, {deof {S>dmBgm| `m A` gmYZm| g{hV {H$gr ~m ghm`Vm/ghmao
Ho$ ~Ja X{ZH$ OrdZ H$s {ZZm{H$V J{V{d{Y`m| _| go H$_ go H$_ 4 (Mma) J{V{d{Y`m
(ZrMo n[a^m{fV) WmB $n go H$aZo _| Ag_W hmo, Vmo Eogr AnJVm H$mo gnyU Ed WmB
Ho$ $n _| _mZm OmEJm. {ZJ_ mam A{YH$V {M{H$gH$s` narjH$ mam gnyU Ed WmB Ho$
$n _| AnJVm H$mo n> H$aZo Ho$ {bE ~r{_V `{$ H$m narjU {H$`m OmEJm.
X{ZH$ OrdZ H$s J{V{d{Y`m h :
H$nS>o nhZZm - g^r Amd`H$ H$nS>o, H${_ hmW-na `m A` e`-
{M{H$gH$s` CnH$aU, Omo {M{H$gH$s` $n go Amd`H$ hm|, H$mo YmaU H$aZo `m CVmaZo
H$s j_Vm.
YmoZm - gm\$-g\$mB Ama `{$JV dN>Vm H$m EH$ n`m Va ~ZmE aIZo Ho$ {bE
YmoZo H$s j_Vm.
ImZm - ^moOZ Ho$ V`ma d CnbY hmo OmZo Ho$ ~mX {H$gr boQ> `m H$Q>moao go _wh VH$ ^moOZ
WmZmV[aV H$aZo H$s j_Vm.
emM - emMmb` H$m Cn`moJ H$aZo `m A`Wm _b Ed _y H$m`m] Ho$ ~YZ H$s j_Vm
Vm{H$ `{$JV dN>Vm Ho$ EH$ gVmofX Va H$mo ~ZmE aIm Om gHo$.
J{VerbVm - Ka Ho$ ^rVa {Zdmg Ho$ gm_m` WmZ na g_Vb gVh na EH$ H$_ao go
Xgao H$_ao _| AmZo-OmZo H$s j_Vm.
WmZmVaU - {H$gr {~Va go CR>H$a {H$gr grYr Hw$gu `m hrb Mo`a na ~R>Zo `m BgHo$
{dnarV H$aZo H$s j_Vm.
XKQ>Zmde MmQo>| Omo A` g^r H$maUm| go dV hmo Ama Eg o r XKQ>Zm H$o hmZoo go 180 {XZm|
H$o ^rVa hm,o {OgH$o \$bd$n XmZom| AmI m| H$s gnUy {> `m ~mb
o Zo H$s `m gZwZo H$s j{V
hmo OmE `m EH$/XmZom| hmW/hmWm| H$m AJN>XoZ H$bmB go `m Cggo D$na go hmo OmE `m
EH$/XmZom| na/nam| H$m AJN>XoZ Q>IZm| na `m Cggo D$na hmo OmE, `m {H$ht _I w AJm|
`m CZH$s H$m`Vm H$s j{V hmo OmE, Cgo ^r Eg o r AnJVm hmZom _mZm OmEJm.
AnJVm H$o VH$mb ~mX CgH$m naym `mam Ama ~r{_V `{$ H$m VH$mbrZ nVm Ama
{R>H$mZm {b{IV $n _| {ZJ_ H$o Cg H$m`mb ` H$mo Xo {X`m OmE Ohm go Bg nm{bgr H$mo gdom
CnbY H$admB OmVr h Ama AnJVm hmZoo H$o 90 {XZ H$o ^rVa AnJVm H$m {OgH$m H$mBo
`` {ZJ_ dhZ Zht H$aJom Ama O~ H$^r {ZJ_ _mJ,o AnJVm Omar ahZo H$m Eg o m _mU
{X`m OmE. {H$gr ^r AnJVm Xmdo H$o g~Y _| gMyZm {_bZo H$o ~mX {ZJ_ mam A{YH$V
{M{H$gH$s` narjH$ mam ~r{_V `{$ H$m narjU {H$`m OmEJm Ama Cgo _m{UV {H$`m
OmEJm. BgH$o Abmdm, `{X Amd`H$Vm hB Vmo AbJ-AbJ _m_bm| H$o AmYma na AnJVm
H$o Omar ahZo H$o g`mnZ H$o {bE {M{H$gH$s` narjU {H$E Om gH$Vo h.
The additional premium for this Rider will not be required to be paid after all
premiums under this Policy have been paid or on and after the policy anniversary on
which the age nearer birthday of the Life Assured is 70 years, whichever is earlier.
However, the premium under the basic policy with which this rider is attached shall
continue to be paid beyond age 70 years till the end of policy term, wherever
applicable.
The maximum aggregate limit of assurance under all policies including policies
with in-built Accident Benefit taken with Life Insurance Corporation of India under
individual policies as well as group policies on the same life to which following
benefits apply shall not in any event exceed Rs.100 lakhs of Accident Benefit Sum
Assured. If there be more policies than one and if the total Accident Benefit Sum
Assured exceeds Rs.100 lakhs, the benefits shall apply to the first Rs.100 lakhs
Accident Benefit Sum Assured in order of date of policies issued.
If the Life assured is involved in an accident at any time when this Policy is in force
for the full Sum Assured, and such injury shall within 180 days of its occurrence
solely, directly and independently of all other causes result in (a) either permanent
and total disability, as hereinafter defined or (b) death of the Life assured and the
same is proved to the satisfaction of the Corporation, the Corporation agrees in
case of:
(a). Disability to the Life Assured: (i) pay additional sum equal to the Accident Benefit
Sum Assured in equal monthly instalments spread over 10 years under this
Policy. If the policy becomes a claim by the way of death or maturity before the
expiry of the said period of 10 years, the disability benefit instalments which have
not fallen due will be paid along with the claim and (ii) waive the payment of future
premiums chargeable, if any, under the policy (including the premium under basic
plan) to the extent of Accident Benefit Sum Assured. The premium for any other
Rider, if opted for, shall continue to be paid.
The waiver of premium shall extinguish all options under this policy and the
benefits covered by (b) of this clause except as to such assurances, if any, as
exceeds the total accident benefit sum assured under all the existing policies of
the life assured and which may have been kept in force by continued payment of
premiums.
The disability above referred to must be disability which is the result of an
'Accident' and must be total and permanent. Accidental injuries which
independently of all other causes and within 180 days from the happening of such
accident result in such disability due to which life assured is unable to perform at
least 4 (four) of the following Activities of Daily Living (defined below)
permanently without any external help/support including the use of mechanical
equipment, special devices or other aids, then such disability shall be treated as
Total and Permanent. Medical Examiner authorized by the Corporation shall
examine the life assured to certify the disability as Total and Permanent.
The Activities of Daily Living are:
Dressing - the ability to put on and take off all necessary garments, artificial limbs
or other surgical appliances that are medically necessary
Washing - the ability to wash to maintain an adequate level of cleanliness and
personal hygiene
Feeding - the ability to transfer food from a plate or bowl to the mouth once food
has been prepared and made available
Toileting - the ability to use the lavatory or otherwise manage bowel and bladder
functions so as to maintain a satisfactory level of personal hygiene
Mobility - the ability to move indoors from room to room on level surfaces at the
normal place of residence
Transferring - the ability to move from a bed to an upright chair or wheel chair and
vice versa
Notwithstanding what is mentioned above, Accidental injuries which
independently of all other causes and within 180 days from the happening of such
accident, result in the irrecoverable loss of the entire sight of both eyes or in the
amputation of both hands at or above the wrists or in the amputation of both feet at
or above ankles, or in the amputation of one hand at or above the wrist and one
foot at or above the ankle, shall also be deemed to constitute such disability.
After the happening of the disability, full particulars thereof must be given in
writing to the office of the Corporation where this Policy is serviced together with
the then address and whereabouts of the Life Assured and within 90 days of the
happening of the disability, must be given to the servicing Office of the
Corporation, in the manner required by it, proof of disability satisfactory to the
Corporation and without any expense to the Corporation. Medical Examiner
authorized by the Corporation shall examine the Life Assured and certify in
respect of any disability claimed after the intimation. Further, medical examination
may be done to validate the continuity of disability on case to case basis, if
required.
 {H$gr ^r g_` `h nmE OmZo H$s Xem _|, {H$ Bg IS> Ho$ AVJV H$moB Xmdm JbVr go
drH$ma H$a {b`m J`m h, {ZJ_ H$s Bg Ame` H$s gyMZm H$s {V{W Ho$ ~mX Xo` hmoZo dmbr
g^r {V{W`m| H$m ^wJVmZ {H$`m OmEJm Ama AmJm_r g^r r{_`_ {OZHo$ {bE Ny>Q> H$m
Xmdm JbV VarHo$ go {H$`m J`m Wm Ama A{V[a$ ~r_mH$V am{e H$s g^r {H$V| Omo ~r{_V
`{$ H$mo ^wJVmZ H$s JB h, {ZJ_ H$mo `mO g{hV EH$_wV am{e Ho$ $n _| Cg Xa na
bmQ>mB OmEJr, Omo {ZJ_ mam g_`-g_` na V` H$s OmE, Ogo {H$ H$moB AnJVm Zht hB
h, Eogm Z H$aZo na
(i) Bg nm{bgr Ho$ AVJV CnbY bm^ Cgr H$ma go H$_ hmo OmEJo, Ogo nm{bgr Cg {V{W
na ~X hB h, O~ go r{_`_m| H$mo _m\$ {H$`m J`m h `m {Og na A{V[a V ~r_mH$V am{e
H$s nhbr {H$V H$m ^wJVmZ hAm h, Omo ^r OXr hmo, Ama
(ii) nhbo hr ^wJVmZ H$s Om MwH$s A{V[a$ ~r_mH$V am{e H$s {H$Vm| H$mo H${WV nm{bgr na
EH$ F$U Ho$ $n _| {b`m OmEJm Ama nm{bgr H$s m{`m| go ^wJVmZ go g_` na {ZJ_ mam
V` H$s JB Xam| na `mO g{hV H$mQ>m OmEJm.
A{V[a$ ~r_mH$V am{e H$s H$moB AmJm_r {H$V/V| Xo` Zht hmo|Jr {Oh| Bg Vah g_Pm
OmEJm {H$ H$moB AnJVm Zht hB h.
(I)~r{_V `pV H$s _`w hmoZo Ho$ _m_bo _|: Bg nm{bgr Ho$ AVJV _yb ~r_mH$V am{e Ho$
A{V[a$, XKQ>Zm {hVbm^ ~r_mH$V am{e Ho$ ~am~a EH$ A{V[a$ am{e Xo` hmoJr. `{n
nm{bgr H$mo XKQ>Zm Ho$ g_` na ^mderb hmoZm Mm{hE, Mmho dh _`w Ho$ g_` na
^mderb hmo `m Z hmo.
{ZJ_ (H$) `m (I) _| gX{^V A{V[a$ am{e XoZo Ho$ {bE CmaXm`r Zht hmoJm, `{X OrdZ
~r{_V `{$ H$s AnJVm `m _`w :
(i) OmZ~yP H$a AnZo H$mo MmoQ> nhMmZo, Am_h`m H$m `mg H$aZo, nmJbnZ AWdm
AZ{VH$ AmMaU Ho$ H$maU AWdm {H$gr _mXH$ d nXmW, Amf{Y `m Zerbr dVwAm|
(O~ VH$ CnMma Ho$ EH$ ^mJ Ho$ $n _| {M{H$gH$ mam Bgo {bIm Z J`m hmo) H$s godZ
H$aZo go hmoJr AWdm,
(ii) XJm|, Ag{ZH$ Cndm|, ge {dmoh, `wX (^bo hr `wX H$s KmofUm H$s JB hmo `m Z H$s
JB hmo), AmH$_U, {eH$ma, ndVmamohU, b~r N>bmJ `m {H$gr ^r H$ma H$s ^mJXmS>,
nambmBqS>J `m nameyqQ>J, amo_mMH$ Iobm| _| ^mJ boZm Ho$ \$bd$n MmoQ> bJZo Ho$ H$maU
hmoJr AWdm,
(iii) ~r{_V `{$ mam Amnam{YH$ BamXogoH$mBoAmnam{YH$ H$` H$aZoH$o n[aUm_d$n hm;o `m
(iv)(A) ~r{_V `p V Ho$ ge goZm `m g` godm _| ZmH$ar _| hmoZo Ho$ H$maU hmo. `h
AndOZ V~ bmJy Zht hmoJm, `{X ~r{_V `{$ V~ {H$gr XKQ>Zm go g~ Wm, O~ dh
S>yQ>r na Zht Wm `m h_mao Xoe _| mH${VH$ AmnXmAm| go bS>Vo g_` {H$gr ~Mmd
A{^`mZ go g~ Wm.
(~) Ag{ZH$ ~bm| Ho$ Abmdm {H$gr nw{bg gJR>Z _| nw{bg S>yQ>r _| g~ hmoZo Ho$
\$bd$n hmo ({Og_| emg{ZH$ H$m`^ma em{_b Zht h). `h AndOZ dhm bmJy Zht
h, Ohm nw{bg S>yQ>r _| g~ ahVo hE hmoZo dmbr XKQ>Zm na XKQ>Zmde _`w Ed AnJVm
bm^ Ho$ {bE {dH$n H$mo MwZm J`m hmo; `m
(v) ~r{_V `p V Ho$ XKQ>ZmJV hmoZo H$s {V{W go 180 {XZm| Ho$ ~mX hmoJr.
12. {ZJ_ H$o bm^ _| {V^m{JVm: ~eV} {H$ nm{bgr nUy $n go ^mdr hm,o Vmo {ZJ_ H$o AZ^wd
H$o AmYma na `h nm{bgr bm^ _| ^mJrXmar H$aJor Ama `h nm{bgr Cg Xa na Ed CZ eVm]
na EH$ gab `md{VV ~mZog H$o `mo` hmJor, Omo{ZJ_ mam Km{ofV H$s Om gH$Vr h.
gab `md{VV ~mZogm| H$mo `Ho$ {dmdf H$o AV _| dm{fH$ $n go Km{ofV {H$`m OmEJm,
~eVn}m{bgr nUy $n go ^mderb hm.o EH$ ~ma Km{ofV H$a {XE OmZo H$o ~mX, do `mO o Zm H$o
JmaQ>rS> bm^m| H$m {hgm ~Z OmVo h. gab `md{VV ~mZog nm{bgr H$o ew$ hmZoo H$s {V{W
go MZwr JB nm{bgr Ad{Y VH$ `m _`w VH$, `{X `h nhbo hmVor h, em{_b {H$E OmEJ.o
{H$gr MHw$Vm nm{bgr H$s Xem _| {Z{hV ~mZogm| H$m ^JwVmZ H$odb V^r {H$`m OmEJm, O~ H$_
go H$_ 3 nUy nm{bgr dfm] H$s r{_`_m| H$m ^JwVmZ H$a {X`m J`m hm.o r{_`_m| H$m ^JwVmZ
{Z`_mZg w ma Z {H$E OmZo H$s Xem _,| bm^m| _| nm{bgr H$s {V^m{JVm W{JV hmo OmEJr, Mmho
nm{bgr ZoMHw$Vm _y` (H$_ H$s JB_b y ~r_mH$V am{e) m {H$`m hmo`m Z {H$`m hm.o
nm{bgr H$mo A`{nV {H$E OmZo H$s Xem _|, {Z{hV ~moZgm| H$m ZH$X _y`, `{X H$moB h,
Ogm ^r A`nU H$s {V{W na bmJy hmo, Cnamo$ eV 8 _| {Z{X> {H$E AZwgma Xo` hmoJm.
`moOZm Ho$ AVJV Cg df _| A{V_ (A{V[a$) ~moZg ^r Kmo{fV {H$E Om gH$Vo h,
O~ nm{bgr Ad{Y Ho$ XmamZ nm{bgr _`w Xmdo _| n[a{UV hmo OmE `m n[an dVm
bm^ ^wJVmZ H$m ^wJVmZ Z hmoZo Ho$ H$maU H$mbmVrV hmo JB h, Ho$ {bE ~H$m`m hmo OmE,
~eV} nm{bgr Hw$N> `yZV_ Ad{Y Ho$ {bE ^mderb aho.
A{V_ (A{V[a$) ~moZg H$_ H$s JB MwH$Vm nm{b{g`m| Ho$ AVJV Xo` Zht hmoJm.
13. Xmdo Ho$ {bE gm_m` AnojmE: nm{bgrYmaH$ H$s _`w hmoZo na XmdoXma mam Xmdm VwV
H$aVo g_` Xo` gmYmaU XVmdoOm| _| Xmdm \$m_, _yb nm{bgr XVmdoO, dm{_d H$m
_mU, _`w H$m _mU, XKQ>Zm/AnJVm H$m _mU, _`w go nyd H$m dH$s` CnMma,
{Z`mo Vm H$m _mUn, BZ_| go Omo bmJy hmo, {ZJ_ H$mo gVmofX $n _| noe H$aZm hmoJm.
AJa nm{bgr Ho$ AVJV Am`w drH$V Zht H$s JB h, Vmo ~r{_V `p V H$s Am`w H$m _mU
^r VwV H$aZm hmoJm.
Size : 12(H) x 7.5(W) inch
In the event of it being discovered at any time that a claim under this clause has
been wrongly admitted, all premiums falling due after the date of the Corporation's
intimation to that effect shall be paid on due dates and further all premiums for
which waiver was wrongly claimed and all instalments of additional sum assured
which have been paid to the life assured shall be returned to the Corporation in
one lump sum with interest, at such rate as fixed by the Corporation from time to
time, as if no disability had occurred, failing which
(i) the benefits available under the policy shall stand reduced as if the policy has been
discontinued as on the date from which premiums have been waived or on the
payment of the first instalment of the additional sum assured, whichever is earlier
and
(ii) the instalments of additional sum assured already paid shall be treated as a debt
against the said policy and shall be deducted with interest at such rate as fixed by
the Corporation from time to time from the proceeds of the policy.
No further instalment/s of additional Accident Benefit Sum Assured shall be
payable considering as if no disability had occurred.
(b) Death of the Life Assured: In addition to Basic Sum Assured, an additional sum
equal to the Accident Benefit Sum Assured shall be payable under this policy.
However, the policy shall have to be in force at the time of accident irrespective of
whether or not it is in force at the time of death.
The Corporation shall not be liable to pay the additional sum referred in (a) or (b)
above, if the disability or the death of the Life Assured shall:
(i) be caused by intentional self injury, attempted suicide, insanity or immorality or
whilst the Life Assured is under the influence or consumption of intoxicating
liquor, narcotic or drug (unless prescribed by doctor as a part of treatment); or
(ii) be caused by injuries resulting from taking any part in riots, civil commotion,
rebellion, war (whether war be declared or not), invasion, hunting,
mountaineering, steeple chasing, racing of any kind, paragliding or parachuting,
taking part in adventurous sports; or
(iii) result from the Life Assured committing any criminal act with criminal intent; or
(iv) (a) arise from employment of the Life Assured in the armed forces or military
service. This exclusion is not applicable if the Life Assured was involved in an
accident when he is not on duty or was involved in any rescue operations while
combating natural calamities in our country
(iv) (b) arise from being engaged in police duty (which excludes administrative
assignments) in any police organization other than paramilitary forces. This
exclusion is not applicable where the option to cover Accidental Death and
Disability Benefit arising on accident while engaged in police duty, has been
chosen; or
(v) occur after 180 days from the date of accident of the Life Assured.
12. Participation in the Profits of the Corporation: Provided the policy is in full force,
depending upon the Corporation's experience the policy shall participate in profits
and will be eligible for a Simple Reversionary Bonus at such rate and on such
terms as may be declared by the Corporation.
Um{b VwV H$s h, Ohm na nOrH$V nm{bgr YmaH$ AnZm AgVmof / {eH$m`V `j XO
Simple Reversionary Bonuses shall be declared annually at the end of each
financial year provided the policy is in full force. Once declared, they form part of
the guaranteed benefits of the plan. Simple Reversionary Bonuses will be added JmhH$ co_crmgrv@licindia.com Bg B-_ob AmBS>r na gnH$ H$a gH$Vo h&
from the date of commencement of policy until the selected policy term or till
death, if it occurs earlier.
In case of a paid up policy vested bonuses shall be payable only if at least 3 full
years' premiums have been paid. In case the premiums are not duly paid, the
policy shall cease to participate in profits irrespective of whether or not the policy
has acquired paid up value (reduced Basic Sum Assured)
In the event of policy being surrendered, the surrender value of vested bonuses, if
any, as applicable on the date of surrender, will be payable as specified in
Condition 8 above.
Final (Additional) bonus may also be declared under the plan in the year when the
policy results into death claim during the policy term or due for the maturity
benefit payment, provided the policy has run for certain minimum term.
Final (Additional) Bonus shall not be payable under reduced paid-up policies.
13. Normal requirements for a claim: The normal documents which the claimant g{_Vr Ho$ nmg ^oOZo H$m {dH$n CnbY h& C `m`mb` / {Obm `m`mb` Ho$ godm {Zdm
shall submit while lodging the claim in case of death of the Life Assured shall be
claim forms, as prescribed by the Corporation, accompanied with original policy
document, NEFT mandate from the claimant for direct credit of the claim amount
to the bank account, proof of title, proof of death, proof of accident/disability,
medical treatment prior to the death; employer's certificate, whichever is
applicable, to the satisfaction of the Corporation. If the age is not admitted under
the policy, the proof of age of the Life assured shall also be submitted.
Ohm nm{bgr nyUmd{Y Xmdo _| n[ad{VV hmoVr h `m nm{bgr Ho$ A`nU H$s Xem _|, ~r{_V
`{$ mam Am`w _mU-n, AJa Am`w nhbo drH$V Zht hwB h, Ho$ gmW {d_w{$ n Ama
_yb nm{bgr boI, ~H$ ImVo _| Xmdo H$s am{e grYo O_m H$aZo Ho$ {bE XmdmH$Vm H$s Amoa
go EZBE\$Q>r AmXoe n VwV {H$`m OmEJm.
Ohm nm{bgr {H$gr XKQ>Zmde AnJVm/_`w Xmdo _| n[ad{VV hmo, {ZZm{H$V gyMr go
bmJy d$` CZ n[apW{V`m| H$s OmM H$o {bE ~b w mE Om gH$Vo h, {OZ_| _`/wAnJVm hB h :
1. W_ gyMZm {VdoXZ (E\$AmBAma) H$s EH$ _m{UV {V.
2. nw{bg AZwgYmZ {VdoXZ H$s EH$ _m{UV {V.
3. nMZm_o H$s {V.
4. _`w Ho$ g^m{dV H$maU H$mo OmZZo Ho$ {bE nmoQ> _mQ>_ [anmoQ>. AJa nmoQ> _mQ>_ _|
AmVm| H$mo ga{jV {H$`m J`m hmo, Vmo CgH$s {df`-dVwAm| H$mo OmZZo Ho$ {bE
amgm`{ZH$ {dbofH$ {VdoXZ, {H$ ~r{_V `{$ Zo eam~, Zerbr XdmAm|,
ZmaH$mo{Q> g `m Oha H$m godZ Vmo Zht {H$`m Wm.
5. g_mMma n H$s H$VaZ Ohm XKQ>Zm {Vdo{XV hB hmo.
6. AJa _`w dmhZ XKQ>Zm Ho$ H$maU hB h, Vmo S>mBqdJ bmBg|g H$s {V, `{X dmhZ
~r{_V `{$ mam Mbm`m Om ahm Wm.
7. _`w Ho$ ~mao _| g~-{S>{dOZb _{OQ>oQ> H$m A{V_ {ZU` - Bggo _`w H$m
dJuH$aU "dm^m{dH$/Am_h`m/XKQ>Zmde_ Ho$ $n _| hmoJm.
8. AJa XKQ>Zm H$mo n{wbg m{YH$m[a`m| H$mo {Vd{oXV Zht {H$`m J`m h, Og o H$wmm `m gmn
H$mQ>Zo go _`,w Vmo dH$pnH$ gm`, Og
o `jXeu gmjr H$m d$`, Jm_gdoH$ `m
emgH$s` A{YH$m[a`m| H$m enW-n, h_mam AnZm nNy>VmN> {VdXoZ, BbmO H$aZo
dmbo{M{H$gH$ `m AnVmb H$o {VdXoZ Am{X n`m hmogH$Voh.
9. AnVmb CnMma A{^boI, Am{X.
14. dYm{ZH$ n[adVZ: Bg nm{bgr Ho$ AVJV Xo` r{_`_m| Ama {hVbm^m| g{hV {Z`_
Ama eV] g~{YV H$mZyZm| Ama {d{Z`_m| Ho$ AZwgma n[adVZr` h.
15. Hy$qbJ Am\$ Ad{Y: `{X nm{bgrYmaH$ nm{bgr Ho$ ""{Z`_ Ama eVm]__ go gVw> Zht h
Vmo dh nm{bgr m hmoZo H$s {V{W go 15 {XZm| Ho$ AXa Amn{m`m| H$m H$maU ~VmVo h`o
{ZJ_ H$mo nm{bgr bmQ>m gH$Vm h. BgHo$ m hmoZo na {ZJ_ nm{bgr {ZaV H$aHo$, O_m
H$s JB r{_`_ H$s am{e go [aH$ r{_`_ (_yb `moOZm Ama amBS>a AJa H$moB hmo,) Ed
{M{H$gH$s` narjU, {deof {VdoXZm|, `{X H$moB hmo, Ed Q>n ewH$ Ho$ {bE ewH$m| H$s
H$Q>mVr Ho$ ~mX dm{ng H$a XoJm.
16. bm^ {MU: _mZH$ OrdZ nydYmaUm na AmYm[aV AmnH$m AZwHy${bV bm^ {MU Bg
boI Ho$ gmW gb h.
~r_m A{Y{Z`_, 1938 H$s Ymam 45
~r_m A{Y{Z`_, 1938 H$s Ymam 45 H$s `dWmE g_`-g_` na gemoYZ Ho$ AZwgma bmJy
hmo OmEJr& dV_mZ `dWmE Bg nm{bgr XVmdoO Ho$ n[a{e>-V _| g_m{d> h&
{eH$m`V {ZamH$aU aMZm
JmhH$m| H$s {eH$m`Vm| H$m {ZamH$aU H$aZo hoVw {ZJ_ Zo emIm / {d^mJ /jor / H|$r`
H$m`mb` Ho$ Va na {eH$m`V {ZamH$aU A{YH$mar H$s {Z`w{$ H$s h& JmhH$m| H$s {eH$m`Vm| H$m
OX {ZamH$aU gw{ZpMV H$aZo hoVw {ZJ_ Zo AnZo JmhH$ nmoQb (do~gmBQ>)
http://www.licindia.in, Ho$ _m`_ go JmhH$ gMmbZ `mo` EH$mp_H$ {eH$m`V `dWmnZ
complaint/ grievance and track its status. Customers can also contact at e-mail id
H$a gH$Vo h, VWm CgH$s pW{V H$m AdbmoH$Z H$a gH$Vo h& {eH$m`Vm| Ho$ {ZamH$aU Ho$ hoVw
In case the customer is not satisfied with the response or do not receive a response
`{X JmhH$ {_bo Odm~ go gVw> Zhr h `m h_go 15 {XZm| Ho$ ^rVa Odm~ Zht nmVm h, Vmo dh
JmhH$ AmBAmaS>rEAmB Ho$ {eH$m`V H$j go {H$gr ^r {ZZ{b{IV _mJ go gnH$ H$a gH$Vo h&
Q>mob \$s g`m 155255/ 18004254732 (`m{Z AmBAmaS>rEAmB {eH$m`V
H$j H|$) na H$mb H$a|&
complaints@irda.gov.in na B-_ob ^oO H$a&
http://www.igms.irda.gov.in na {eH$m`V XO H$a|&
JmhH$ _m_bm {d^mJ, ^maVr` ~r_m {Z`U VWm {dH$mg m{YH$aU, 9dt _{Ob,
`wZmBQ>oS> B{S>`m Q>mdg, ~era~mJ, hXam~mX - 500029, AmY Xoe Ho$ nVo na
{eH$m`V nmam / Hw$[a`a mam ^oO H$a&
040-66789768 na AnZr {eH$m`V \ g na ^|O Xo&
_`w Xmdm n[a`mJ Ho$ {ZU` go AgVw> XmdoXmam| Ho$ nmg AnZo _m_bm| H$m nwZ arjU H$aZo Ho$
{bE jor H$m`mb` Xmdm {ddmX {ZamH$aU g{_Vr `m H|$r` H$m`mb` Xmdm {ddmX {ZamH$aU
Central Office Claims Dispute Redressal Committee. A retired High Court/ District
`m`m{Ye `oH$ Xmdm {ddmX {ZamH$aU g{_{V Ho$ gX` ah|Jo& Xmdm| Ho$ gX^ _o {eH$m`Vm| Ho$
{ZamH$maU hoVw XmdoXma ~r_m bmoH$nmb go ^r gnH$ H$a gH$Vo h, Omo JmhH$m| H$mo H$_ I{Mbm
VWm ObX _`W {ZU` XoZo H$m ~Y H$aVo h&
Where the policy results into a maturity claim or in case of surrender of a policy,
the Life Assured shall submit the discharge form along with the original policy
document, NEFT mandate from the claimant for direct credit of the claim amount
to the bank account besides proof of age, if the age is not admitted earlier.
Where policy results into a accidental disability/death claim the applicable
statements from the following list may be called to ascertain circumstances
under which death / disability took place:-
1) A certified copy of first information report (FIR).
2) A certified copy of police inquest report.
3) Copy of panchanama.
4) Post mortem report to know the probable cause of death. If viscera is
preserved in post mortem, then chemical analyzer report to know the
contents i.e. whether life assured has consumed liquor, drugs, narcotics or
poison.
5) News paper cuttings where accident is reported.
6) If death is due to vehicle accident, then copy of driving licence, if life assured
was driving the vehicle.
7) Sub-divisional magistrate final verdict about death- this will give
classification of death as 'natural/suicide/accidental'
8) When accident is not reported to police authorities, like death due to dog or
snake bite, then alternate proofs such as statement of eye witness, affidavit
of gramsevak or govt. officials, our own enquiry report, attending physician
or hospital reports may be sufficient.
9) Hospital treatment records, etc.
14. Legislative Changes: The Terms and Conditions including the premiums and
benefits payable under this policy are subject to variation in accordance with the
relevant Legislation & Regulations.
15. Cooling-off Period: If the Policyholder is not satisfied with the Terms and
Conditions of the policy, he/she may return the policy to the Corporation within
15 days from the date of receipt of the policy stating the reason of objections. On
receipt of the same the Corporation shall cancel the policy and return the amount
of premium deposited after deducting the proportionate risk premium (for basic
plan and rider(s), if any) for the period on cover and charges for medical
examination, special reports, if any and stamp duty.
16. Benefit illustration: Your customized Benefit Illustration based on standard life
assumption is enclosed to this document.
Section 45 of Insurance Act, 1938:
The provision of Section 45 of the Insurance Act, 1938 shall be applicable as amended
from time to time. The current provisions are contained in Annexure-V of this policy
document.
Grievance Redressal Mechanism:
The Corporation has Grievance Redressal Officers at Branch/ Divisional/ Zonal/
Central Office to redress grievances of customers. For ensuring quick redressal of
customer grievances the Corporation has introduced Customer friendly Integrated
Complaint Management System through our Customer Portal (website) which is
http://www.licindia.in, where a registered policy holder can directly register
co_crmgrv@licindia.com for redressal of any grievances.
from us within 15 days, then the customer may approach the Grievance Cell of the
IRDAI through any of the following modes:
Calling Toll Free Number 155255 / 18004254732 (i.e. IRDAI Grievance Call
Centre)
Sending an email to complaints@irda.gov.in
Register the complaint online at http://www.igms.irda.gov.in
Address for sending the complaint through courier / letter:
Consumer Affairs Department, Insurance Regulatory and Development Authority
of India, 9th Floor, United India Towers, Basheerbagh, Hyderabad 500 029,
Andhra Pradesh.
Sending the complaint by Fax to 040-66789768
Claimants not satisfied with the decision of death claim repudiation have the option of
referring their cases for review to Zonal Office Claims Dispute Redressal Committee or
Court Judge is member of each of the Claims Dispute Redressal Committees. For
redressal of Claims related grievances, claimants can also approach Insurance
Ombudsman who provides for low cost and speedy arbitration to customers.
 n[a{e> III Annexure - III

AZwbZH$/ANNEXURE - I g_ZwXoeZ-~r_m H$mZyZ (gemoYZ) A{Y{Z`_, 2015 mam `Wmgemo{YV ~r_m

A{Y{Z`_, 1938 H$s Ymam 38 Ho$ AZwgma
Assignment - As per Section 38 of the Insurance Act 1938, as amended by the
Insurance Laws (Amendment) Act, 2015
(1) A transfer or assignment of a policy of insurance, wholly or in part, whether
1. ~r_m nm{bgr H$m AVaU `m g_ZwXoeZ, nyUV: `m AeV: {V\$bg{hV `m BgHo$ {~Zm,
Hw$b Xm r{_`_ Ho$ {bE bmJy JmaQ>rS> A`nU _y` H$maH$ Ho$db nm{bgr na hr n>mH$Z `m AbJ go BQ>_oQ> mam {H$gr ^r _m_bo _| AVaUH$Vm
with or without consideration, may be made only by an endorsement upon the
policy itself or by a separate instrument, signed in either case by the transferor
`m g_ZwXoeH$ `m CZHo$ A{YH$V EOoQ> mam {H$`m Om gH$Vm h, {Ogo H$_ go H$_ EH$ or by the assignor or his duly authorised agent and attested by at least one
Guaranteed Surrender Value factors applicable to total premiums paid gmjr mam g`m{nV {H$`m OmZm Mm{hE, {deof $n go AVaU `m A`nU Ho$ V` Ama witness, specifically setting forth the fact of transfer or assignment and the
reasons thereof, the antecedents of the assignee and the terms on which the
nm{bgr Ad{Y/Policy Term ({VeV _|/in percentage)
H$maU, g_ZwXo{eV Ho$ nyddm Ama g_ZwXoeZ H$s eVm] H$m CboI H$aVo hE& assignment is made.
Ad{Y/Year 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 2. ~r_mH$Vm Cn-Ymam (1) H$o AVJV {H$E JE {H$gr AVaU `m g_ZXweoZ H$mo drH$ma H$a (2) An insurer may, accept the transfer or assignment, or decline to act upon any
1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 gH$Vm h `m {H$gr n>mH$Z H$mo drH$ma H$aZo go _Zm H$a gH$Vm h, AJa CgH$o nmg `h endorsement made under sub-section(1), where it has sufficient reason to
2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 believe that such transfer or assignment is not bonafide or is not in the interest
3 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 _mZZo H$m n`mV H$maU hmo {H$ `h AVaU `m g_ZXweoZ dmV{dH$ Zht h `m nm{bgrYmaH$
4 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 of the policyholder or in public interest or is for the purpose of trading of
H$o {hV _|`m OZ{hV `m ~r_m nm{bgr H$s Q>qoS>J H$o `mOo Z hVowCn`w V Zht h& insurance policy.
5 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00
6 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 3. ~r_mH$Vm, n>mH$Z na A_b H$aZo go BH$ma H$aZo go nhbo AnZr AdrH${V Ho$ H$maU (3) The insurer shall, before refusing to act upon the endorsement, record in
7 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00
8 54.29 53.75 53.33 53.00 52.73 52.50 52.31 52.14 52.00 51.88 51.76 51.67 51.58 51.50 51.43 51.36 51.30 51.25 51.20 51.15 51.11 H$mo {b{IV _| XO H$aoJm VWm nm{bgrYmaH$ mam Eogo AVaU `m g_ZwXoeZ H$m Zmo{Q>g writing the reasons for such refusal and communicate the same to the
9 58.57 57.50 56.67 56.00 55.45 55.00 54.62 54.29 54.00 53.75 53.53 53.33 53.16 53.00 52.86 52.73 52.61 52.50 52.40 52.31 52.22 XoZo H$s {V{W go 30 {XZm| Ho$ AXa Eogr AdrH${V go nm{bgrYmaH$ H$mo gy{MV H$aoJm& policyholder not later than thirty days from the date of the policy-holder giving
10 62.86 61.25 60.00 59.00 58.18 57.50 56.92 56.43 56.00 55.63 55.29 55.00 54.74 54.50 54.29 54.09 53.91 53.75 53.60 53.46 53.33 notice of such transfer or assignment.
11 67.14 65.00 63.33 62.00 60.91 60.00 59.23 58.57 58.00 57.50 57.06 56.67 56.32 56.00 55.71 55.45 55.22 55.00 54.80 54.62 54.44 4. ~r_mYmaH$ mam Eogo AVaU `m n>mH$Z na A_b H$aZo go BH$ma H$aZo go ^m{dV H$moB (4) Any person aggrieved by the decision of an insurer to decline to act upon such
12 71.43 68.75 66.67 65.00 63.64 62.50 61.54 60.71 60.00 59.38 58.82 58.33 57.89 57.50 57.14 56.82 56.52 56.25 56.00 55.77 55.56 `p V ~r_mH$Vm go H$maU g{hV BH$ma H$s gyMZm {_bZo H$s {V{W go 30 {XZm| Ho$ AXa
13 75.71 72.50 70.00 68.00 66.36 65.00 63.85 62.86 62.00 61.25 60.59 60.00 59.47 59.00 58.57 58.18 57.83 57.50 57.20 56.92 56.67 transfer or assignment may within a period of thirty days from the date of
14 80.00 76.25 73.33 71.00 69.09 67.50 66.15 65.00 64.00 63.13 62.35 61.67 61.05 60.50 60.00 59.55 59.13 58.75 58.40 58.08 57.78 m{YH$mar Ho$ nmg AnZm Xmdm aI gH$Vm h& receipt of the communication from the insurer containing reasons for such
15 80.00 80.00 76.67 74.00 71.82 70.00 68.46 67.14 66.00 65.00 64.12 63.33 62.63 62.00 61.43 60.91 60.43 60.00 59.60 59.23 58.89 refusal, prefer a claim to the Authority.
16 80.00 80.00 77.00 74.55 72.50 70.77 69.29 68.00 66.88 65.88 65.00 64.21 63.50 62.86 62.27 61.74 61.25 60.80 60.38 60.00 5. Cn-Ymam (2) Ho$ mdYmZm| Ho$ AYrZ, AVaU `m g_ZwXoeZ nyU hmoJm VWm Eogo n>mH$Z
17 80.00 80.00 77.27 75.00 73.08 71.43 70.00 68.75 67.65 66.67 65.79 65.00 64.29 63.64 63.04 62.50 62.00 61.54 61.11 `m {d{YdV g`m{nV BQ>_oQ> na A_b ^mdr hmoJm, {gdm` dhm Ohm AVaU `m (5) Subject to the provisions in sub-section (2), the transfer or assignment shall be
18 80.00 80.00 77.50 75.38 73.57 72.00 70.63 69.41 68.33 67.37 66.50 65.71 65.00 64.35 63.75 63.20 62.69 62.22 complete and effectual upon the execution of such endorsement or instrument
19 80.00 80.00 77.69 75.71 74.00 72.50 71.18 70.00 68.95 68.00 67.14 66.36 65.65 65.00 64.40 63.85 63.33 g_ZwXoeZ ~r_mH$Vm Ho$ nj _| h, ~r_mH$Vm Ho$ {d$ ^mdr Z hmoJm, VWm `h AV[aVr duly attested but except, where the transfer or assignment is in favour of the
20 80.00 80.00 77.86 76.00 74.38 72.94 71.67 70.53 69.50 68.57 67.73 66.96 66.25 65.60 65.00 64.44 `m g_ZwXo{eV `m CZHo$ H$mZyZr {V{Z{Y H$mo Eogr nm{bgr Ho$ AVJV am{e Ho$ {bE insurer, shall not be operative as against an insurer, and shall not confer upon
21 80.00 80.00 78.00 76.25 74.71 73.33 72.11 71.00 70.00 69.09 68.26 67.50 66.80 66.15 65.56
22 80.00 80.00 78.13 76.47 75.00 73.68 72.50 71.43 70.45 69.57 68.75 68.00 67.31 66.67 H$mZyZr Xmdm H$aZo `m CZHo$ mam YZam{e H$mo gwa{jV H$aZo H$m A{YH$ma Zht XoVm h& the transferee or assignee, or his legal representative, any right to sue for the
23 80.00 80.00 78.24 76.67 75.26 74.00 72.86 71.82 70.87 70.00 69.20 68.46 67.78 AVaU `m g_ZwXoeZ H$m {b{IV _| Zmo{Q>g `m C V n>mH$Z `m BQ>_oQ> H$s {V, {Ogo amount of such policy or the moneys secured thereby until a notice in writing of
24 80.00 80.00 78.33 76.84 75.50 74.29 73.18 72.17 71.25 70.40 69.62 68.89 the transfer or assignment and either the said endorsement or instrument itself
25 80.00 80.00 78.42 77.00 75.71 74.55 73.48 72.50 71.60 70.77 70.00 O~ VH$ {H$ AVaUH$Vm VWm AV[aVr XmoZm| `m CZHo$ {d{YdV A{YH$V EOoQ>g mam or a copy thereof certified to be correct by both transferor and transferee or
26 80.00 80.00 78.50 77.14 75.91 74.78 73.75 72.80 71.92 71.11 g` hmoZo Ho$ {bE g`m{nV {H$`m J`m hmo, ~r_mH$Vm H$mo gmnm Zht OmVm h&
27 80.00 80.00 78.57 77.27 76.09 75.00 74.00 73.08 72.22 their duly authorised agents have been delivered to the insurer:
28 80.00 80.00 78.64 77.39 76.25 75.20 74.23 73.33 ~eV] Ohm ~r_mH$Vm Ho$ ^maV _| EH$ `m A{YH$ H$mamo~ma Ho$ WmZ hmo, dhm Zmo{Q>g H$mo Provided that where the insurer maintains one or more places of business in
29 80.00 80.00 78.70 77.50 76.40 75.38 74.44 India, such notice shall be delivered only at the place where the policy is being
30 80.00 80.00 78.75 77.60 76.54 75.56 Ho$db dht na {X`m OmZm h, Ohm go nm{bgr H$mo godm XmZ H$s Om ahr h&
31 80.00 80.00 78.80 77.69 76.67 serviced.
6. {Og {V{W H$mo Cn-Ymam (5) _| gX[^V Zm{oQ>g ~r_mH$Vm H$mo gnwXw {H$`m OmVm h, Cggo
32 80.00 80.00 78.85 77.78 (6) The date on which the notice referred to in sub-section (5) is delivered to the
33 80.00 80.00 78.89 dh nm{bgr _| {hV aIZo dmbo g^r `p V`m| H$o ~rM AVaU `m g_ZXweoZ H$o AVJV g^r insurer shall regulate the priority of all claims under a transfer or assignment as
34 80.00 80.00 Xmdm| H$o {bE mW{_H$Vm H$mo {d{Z`{_V H$aJor, VWm Ohm AVaU `m g_ZXweoZ H$o EH$ go
35 80.00
between persons interested in the policy; and where there is more than one
A{YH$ BQ>_oQ> hm| dhm Eg
o o BQ>_oQ>g H$o AVJV Xmdm| H$s mW{_H$Vm Cg H$_ mam instrument of transfer or assignment the priority of the claims under such
em{gV hmJor, {Og_|Cn-Ymam (5) _|gX{^V Zm{oQ>g gnwXw{H$E JE h& instruments shall be governed by the order in which the notices referred to in
sub-section (5) are delivered:
g_ZwXo{eVm| Ho$ ~rM ^wJVmZ H$s mW{_H$Vm Ho$ ~mao _| H$moB {ddmX CnZ hmoZo na Cgo Provided that if any dispute as to priority of payment arises as between
m{YH$mar H$mo gX{^V {H$`m OmEJm& assignees, the dispute shall be referred to the Authority.
7. Cn-Ymam (5) _| gX{^V Zmo{Q>g Ho$ mV hmoZo na, Eogo AVaU `m g_ZwXoeZ Ho$ V` (7) Upon the receipt of the notice referred to in sub-section (5), the insurer shall
H$mo CgH$s {V{W VWm AV[aVr `m g_ZwXo{eV Ho$ Zm_ Ho$ gmW XO H$aoJm VWm Zmo{Q>g XoZo record the fact of such transfer or assignment together with the date thereof

AZwbZH$/ANNEXURE - II dmbo `p V mam AZwamoY {H$E OmZo na, `m AJa AV[aVr `m g_ZwXo{eV, {d{Z`_m| mam
{ZYm[aV H$s JB \$sg Ho$ ^wJVmZ na, Eogo Zmo{Q>g Ho$ mV hmoZo H$s {b{IV nmdVr XoVm h;
and the name of the transferee or the assignee and shall, on the request of the
person by whom the notice was given, or of the transferee or assignee, on
payment of such fee as may be specified by the regulations, grant a written
Ama Eogr {H$gr nmdVr H$mo ~r_mH$Vm Ho$ {d$ Bg ~mV H$m {ZH$fu gm` _mZm OmEJm acknowledgment of the receipt of such notice; and any such acknowledgment
{Z{hV ~moZg Ho$ {bE bmJy A`nU _y` H$maH$ {H$ Cgo nmdVr go g~{YV Zmo{Q>g {d{YdV mV hAm h& shall be conclusive evidence against the insurer that he has duly received the
notice to which such acknowledgment relates.
Surrender value factors applicable to vested bonuses 8. AVaU `m g_ZwXoeZ Ho$ {Z`_m| VWm eVm] Ho$ AYrZ, ~r_mH$Vm mam, Cn-Ymam (5) _|
gX{^V Zmo{Q>g H$s mpV H$s {V{W go, nm{bgr Ho$ AVJV bm^ Ho$ nm AV[aVr `m
(8) Subject to the terms and conditions of the transfer or assignment, the insurer
shall, from the date of the receipt of the notice referred to in sub-section (5),
nm{bgr Ad{Y/Policy Term ({VeV _|/in percentage)
g_ZwXo{eV H$s nhMmZ H$aoJm `m Eogm `p V CZ g^r Xm{`VmAm| VWm Bp d{Q>`m| Ho$ recognize the transferee or assignee named in the notice as the absolute
AYrZ hmoJm, {OgH$m {H$ AVaU `m g_ZwXoeZ H$s {V{W H$mo AVaUH$Vm `m g_ZwXoeH$ transferee or assignee entitled to benefit under the policy, and such person shall
Ad{Y/Year 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 be subject to all liabilities and equities to which the transferor or assignor was
1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 nm Wm VWm dh nm{bgr Ho$ g~Y _| H$moB H$madmB H$a gH$Vm h, dh nm{bgr Ho$ AVJV
2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 subject at the date of the transfer or assignment and may institute any
3 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94 14.13 13.20 12.06 10.61 6.01 6.01 3.06 2.00
F$U mV H$a gH$Vm h `m AVaUH$Vm `m g_ZwXoeH$ H$s gh_{V mV {H$E {~Zm proceedings in relation to the policy, obtain a loan under the policy or surrender
4 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94 14.13 13.20 12.06 10.61 6.01 6.01 3.06 nm{bgr H$mo A`nU H$a gH$Vm h `m Cgo Eogr H$madmB H$s EH$ nmQ>u ~Zm gH$Vm h& the policy without obtaining the consent of the transferor or assignor or making
5 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94 14.13 13.20 12.06 10.61 6.01 6.01 him a party to such proceedings.
6 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94 14.13 13.20 12.06 10.61 6.01 n>rH$aU - {gdm` BgHo$ {H$ Ohm Cn-Ymam (1) _| gX[^V n>mH$Z n> $n go
7 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94 14.13 13.20 12.06 10.61 CboI H$aVm hmo {H$ g_ZwXoeZ `m AVaU, `hm Xr JB Cn-Ymam (10) Ho$ AVJV Explanation Except where the endorsement referred to in sub-section (1)
8 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94 14.13 13.20 12.06 expressly indicates that the assignment or transfer is conditional in terms of
9 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94 14.13 13.20 geV h, `oH$ g_ZwXoeZ `m AVaU H$mo nyU g_ZwXoeZ `m AVaU _mZm OmEJm VWm subsection (10) hereunder, every assignment or transfer shall be deemed to be
10 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94 14.13 g_ZwXo{eV `m AV[aVr H$mo, Ogr ^r pW{V hmo, H$_e: nyU g_ZwXo{eV `m AV[aVr
11 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 14.94
an absolute assignment or transfer and the assignee or transferee, as the case
12 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 15.13 _mZm OmEJm& may be, shall be deemed to be the absolute assignee or transferee respectively.
13 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42 15.28 (9) Any rights and remedies of an assignee or transferee of a policy of life
14 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 15.42
9. ~r_m H$mZyZ (gemoYZ) A{Y{Z`_ 2015 Ho$ Ama^ hmoZo go nhbo {H$E JE {H$gr
insurance under an assignment or transfer effected prior to the
15 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72 15.55 g_ZwXoeZ `m AVaU go OrdZ ~r_m H$s nm{bgr Ho$ {H$gr g_ZwXo{eV `m AV[aVr Ho$ commencement of the Insurance Laws (Amendment) Act, 2015 shall not be
16 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93 15.72
17 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 15.93
A{YH$ma d CnMma Bg Ymam Ho$ mdYmam| mam ^m{dV Zht hm|Jo& affected by the provisions of this section.
18 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58 16.22 10. {H$gr H$mZyZ Ho$ hmoZo Ho$ ~mdOyX `m JmhH$ H$s H$mZyZ Ho$ {VHy$b ~m`Vm hmoZo na, `p V (10) Notwithstanding any law or custom having the force of law to the contrary, an
19 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 16.58
20 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 17.03 Ho$ nj _| g_ZwXoeZ Bg Xem _| {H$`m Om gH$Vm h {H$ assignment in favour of a person made upon the condition that-
21 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58 17.58 A. nm{bgr Ho$ AVJV YZam{e nm{bgrYmaH$ `m Zm{_V `p V `m Zm{_V `p V`m| H$mo a. The proceeds under the policy shall become payable to the policyholder or
22 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66 17.58
Cg Xem _| Xo` hmo gH$Vr h AJa g_ZwXo{eV `m AV[aVr H$s _`w ~r_mYmaH$ go the nominee or nominees in the event of either the assignee or transferee
23 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 17.66
24 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16 17.85 predeceasing the insured; or
25 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 18.16
nhbo hmo OmVr h; `m
b. The insured surviving the term of the policy , shall be valid:
26 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 18.60 ~. ~r_mYmaH$ nm{bgr H$s Ad{Y VH$ Or{dV ahVm h, _m` hmoJm:
27 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 19.18 VWm{n geV g_ZwXo{eV nm{bgr H$mo A`nU H$aZo `m nm{bgr na F$U boZo H$m nm Provided that a conditional assignee shall not be entitled to obtain a loan on the
28 35.00 30.00 27.06 25.05 23.38 21.99 20.85 19.93 policy or surrender a policy.
29 35.00 30.00 27.06 25.05 23.38 21.99 20.85 Zht hmoJm&
30 35.00 30.00 27.06 25.05 23.38 21.99 (11) In the case of the partial assignment or transfer of a policy of insurance under
31 35.00 30.00 27.06 25.05 23.38 11. Cn-Ymam (1) Ho$ AVJV ~r_m nm{bgr Ho$ Am[eH$ g_ZwXoeZ `m AVaU H$s Xem _|, sub-section (1), the liability of the insurer shall be limited to the amount secured
32 35.00 30.00 27.06 25.05 ~r_mH$Vm H$s Xm{`Vm Am{eH$ g_ZwXoeZ `m AVaU mam gwa{jV H$s JB am{e VH$ by partial assignment or transfer and such policyholder shall not be entitled to
33 35.00 30.00 27.06
gr{_V hmoJr VWm Eogm nm{bgrYmaH$ Cgr nm{bgr Ho$ AVJV Xo` eof am{e Ho$ {bE nwZ: further assign or transfer the residual amount payable under the same policy.
34 35.00 30.00
35 35.00 g_ZwXoeZ `m AVaU H$aZo H$m nm Zht hmoJm&
n[a{e> IV
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nm{bgr Ho$ n[an d hmoZo go nhbo {H$gr ^r g_`, {H$gr `p V `m `p V`m| H$mo Zm{_V
H$a gH$Vm h, {Ogo/{Oh| CgH$s _`w H$s pW{V _| nm{bgr mam ga[jV am{e H$m
^wJVmZ {H$`m OmEJm&eV `h h {H$, AJa Zm{_V `p V Zm~m{bJ hmo, Vmo nm{bgrYmaH$
Ho$ {bE `h H$mZyZZ C{MV hmoJm {H$ ~r_mH$Vm mam {ZYm[aV VarHo$ go {H$gr `p V H$mo
{Z`w V H$ao Omo {H$ Zm{_V `p V Ho$ Zm~m{bJ ahZo Ho$ XmamZ nm{bgrYmaH$ H$s _`w hmoZo
na nm{bgr mam ga{jV am{e H$mo mV H$a gHo$&
2. Eg o o {H$gr Zm_mH$Z H$mo ^mdr hmZoo H$o {bE, AJa dh nm{bgr H$s eX `mO o Zm _| {ZJ{_V Zht
h, Vmo Cgo ~r{_V H$aZo H$o {bE g{yMV nm{bgr na n>mH$Z VWm nm{bgr go g~{YV [aH$mS>g
_| CgH$o mam nO rH$aU H$o O
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n[an d hmZoo go nhbo {H$gr ^r g_` ^JwVmZ go ndy {H$gr n>mH$Z `m dgr`V, Og
pW{V hm,o mam a {H$E `m ~Xbo Om gH$Vo h, b{oH$Z AJa Bg H$ma {ZaVrH$aU `m
n[adVZ H$o {bE ~r_mH$Vm H$mo {b{IV _| gMyZm Z Xr JB hmo Vmo ~r_mH$Vm nm{bgr H$o AVJV
CgH$o mam dmV{dH$ ~ZmE JE nm{bgr H$s eX `mO o Zm _| C{b{IV `m ~r_mH$Vm H$o
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`m ~Xbo OmZo Ho$ ~mao _| {b{IV nmdVr XoJm VWm {d{Z`_m| mam {d{ZYm[aV Eogo
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4. Ymam 38 Ho$ AZwH$_ _| nm{bgr _| {H$gr AVaU `m g_ZwXoeZ go Zm_mH$Z dV: a hmo
OmEJm:
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na Omo{I_ H$m dhZ H$aVm hmo, Cg ~r_mH$Vm mam nm{bgr H$s O_mZV na, CgHo$
A`nU _y` `m nwZ: g_ZwXoeZ Ho$ AVJV hmo, F$U d$n H$s ^anmB H$aZo na
Zm_mH$Z a Zht hmoJm, bo{H$Z Zm{_V Ho$ A{YH$ma Ho$db Cg hX VH$ ^m{dV hm|Jo,
{OVZm {H$ nm{bgr _| ~r_mH$Vm H$m {hV hmo:
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F$U Ho$ {V\$b d$n nm{bgr H$m AVaU `m g_ZwXoeZ, Mmho `h nyUV: hmo `m AeV:,
Zm_mH$Z a Zht hmoJm, bo{H$Z Zm_m{H$V `p V Ho$ A{YH$mam| H$mo Cgr hX VH$ ^m{dV
H$aoJm, Omo {H$ nm{bgr _| AV[aVr `m g_ZwXo{eV H$m {hV hmoJm:
eV `h ^r h {H$ Zm_mH$Z Omo {H$ AVaU `m g_ZwXoeZ na CgHo$ n[aUm_d$n AnZo
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^wJVmZ na {gdm` ~r_mH$Vm H$mo nm{bgr H$s O_mZV na, nwZ: AVaU go dV: nwZ:
Mm{bV hmo OmEJm&
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nm{bgr Ho$ ^wJVmZ hoVw n[an d hmoZo go nhbo _a OmVo h, dhm nm{bgr Ho$ AVJV gwa{jV
am{e H$m ^wJVmZ nm{bgrYmaH$ `m CgHo$ Cmam{YH$m[a`m| `m H$mZyZr {V{Z{Y`m| `m
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Or{dV ahVo h, {OgHo$ OrdZ H$mo ~r{_V {H$`m J`m h, Vmo nm{bgr mam gwa{jV H$s JB
am{e H$m ^wJVmZ Eogo CmaOrdr `m CmaOr{d`m| H$mo {H$`m OmEJm&
7. Bg Ymam Ho$ A` mdYmZm| Ho$ AYrZ, Ohm ~r_m nm{bgr Ho$ YmaH$ Zo AnZo OrdZ na
AnZo _mVm/{nVm `m AnZo OrdZgmWr `m AnZo ~Mm| `m AnZo OrdZ gmWr Ama ~Mm|
`m CZ_| go {H$gr H$mo Zm{_V {H$`m hmo, Eogo Zm{_V Cn-Ymam (6) Ho$ AVJV ~r_mH$Vm
mam Xo` am{e Ho$ {bE bm^mWu hm|Jo, O~ VH$ {H$ `h gm{~V Zht hmoVm {H$ nm{bgr H$m
YmaH$, nm{bgr _| CgHo$ Q>mBQ>b H$s H${V Ho$ AZwgma Zm_m{H$V H$mo Eogm bm^mWu
Q>mB{Q>b XmZ Zht H$a gH$Vm h&
8. Cnamo V H$ho JE Ho$ AYrZ, Ohm Zm{_V `m AJa EH$ go A{YH$ Zm{_V hm|, {OZ na Cn-
Ymam (7) bmJy hmoVr h, nm{bgr mam gwa{jV am{e Ho$ ^wJVmZ go nhbo, bo{H$Z Cg
`p V {OgHo$ OrdZ Ho$ ~r{_V {H$`m J`m h, Ho$ ~mX _a OmVm h Vmo nm{bgr mam gwa{jV
am{e `m _aZodmbo Zm{_V `m Zm{_Vm| Ogr ^r pW{V hmo Ho$ {hgo H$m {V{Z{Yd H$aZo
dmbr nm{bgr mam gwa{jV am{e H$m ^wJVmZ Zm{_V `m Zm{_Vm| Ho$ Cmam{YH$m[a`m| `m
H$mZyZr {V{Z{Y`m| `m Cmam{YH$ma _mUn Ho$ YmaH$, Ogr ^r pW{V hmo, H$mo {H$`m
OmEJm VWm do Eogr am{e H$mo nmZo Ho$ {bE A{YH$V bm^mWu hm|Jo&
9. Cn-YmamAm| (7) Ama (8) _| Hw$N> ^r OrdZ ~r_m H$s {H$gr nm{bgr H$s Am_X{Z`m| go
{H$gr CYmaXmVm Ho$ A{YH$ma H$mo Z> `m g_mV Zht H$aoJm&
10. Cn-YmamAm| (7) Ama (8) Ho$ mdYmZ ~r_m H$mZyZ (gemoYZ) A{Y{Z`_ 2015 Ho$
Ama^ hmoZo Ho$ ~mX ^wJVmZ Ho$ {bE n[an d hmoZo dmbr OrdZ ~r_m H$s g^r nm{b{g`m| na
bmJy hm|Jo&
11. Ohm nm{bgrYmaH$ H$s _`w nm{bgr Ho$ n[an d hmoZo Ho$ ~mX hB hmo, bo{H$Z nm{bgr H$s
Am` Ama {hVbm^ H$m ^wJVmZ Cgo CgH$s _`w Ho$ H$maU Z hE hm|, Vmo CgHo$ mam Zm{_V
CgH$s nm{bgr Ho$ AVJV Am_XZr Ama {hVbm^ H$mo nmZo H$m nm hmoJm&
12. Bg Ymam Ho$ mdYmZ OrdZ ~r_m H$s Eogr {H$gr nm{bgr na bmJy Zht hm|Jo, {Og na Ymam
6, {ddm{hV r gn{m A{Y{Z`_ 1874 bmJy hmoVm hmo `m H$^r bmJy{H$`m J`m hmo&
eV `h h {H$, Ohm ~r_m H$mZyZ (gemoYZ) A{Y{Z`_, 2015 Ho$ Ama^ hmoZo go nhbo
~r{_V `p V Ho$ nZr `m CgH$s nZr VWm ~Mm| `m CZ_| go {H$gr Ho$ nj _| A{^` V
$n go Zm_mH$Z {H$`m J`m hmo, Mmho dh nm{bgr na A{H$V hmo `m Zht, Ogm {H$ Bg Ymam
Ho$ AVJV {H$`m J`m h, H${WV Ymam 6 nm{bgr na bmJy Zht _mZr OmEJr `m bmJy Zht
hmoJr&
Annexure- IV
Nomination - As per Section 39 of the Insurance Act 1938, as amended by the
Insurance Laws (Amendment) Act, 2015
(1) The holder of a policy of life insurance on his own life may, when effecting the
policy or at any time before the policy matures for payment, nominate the
person or persons to whom the money secured by the policy shall be paid in the
event of his death:
Provided that, where any nominee is a minor, it shall be lawful for the policy
holder to appoint any person in the manner laid down by the insurer, to receive
the money secured by policy in the event of his death during the minority of the
nominee.
(2) Any such nomination in order to be effectual shall, unless it is incorporated in
the text of the policy itself, be made by an endorsement on the policy
`m g_ZwXo{eVm| H$mo {b{IV _| CZ AmYmam| VWm V`m| Ho$ ~mao _| gy{MV H$aZm hmoJm,
communicated to the insurer and registered by him in the records relating to the
policy and any such nomination may at any time before the policy matures for
r ^r payment be cancelled or changed by an endorsement or a further endorsement
or a will, as the case may be, but unless notice in writing of any such
cancellation or change has been delivered to the insurer, the insurer shall not be
liable for any payment under the policy made bona fide by him to a nominee
mentioned in the text of the policy or registered in records of the insurer.
(3) The insurer shall furnish to the policy holder a written acknowledgement of
having registered a nomination or a cancellation or change thereof, and may
charge such fee as may be specified by regulations for registering such
cancellation or change.
(4) A transfer or assignment of a policy made in accordance with section 38 shall
automatically cancel a nomination:
Provided that the assignment of a policy to the insurer who bears the risk on the
policy at the time of the assignment, in consideration of a loan granted by that
insurer on the security of the policy within its surrender value, or its
reassignment on repayment of the loan shall not cancel a nomination, but shall
affect the rights of the nominee only to the extent of the insurer's interest in the
policy:
Provided further that the transfer or assignment of a policy, whether wholly or
in part, in consideration of a loan advanced by the transferee or assignee to the
policyholder, shall not cancel the nomination but shall affect the rights of the
nominee only to the extent of the interest of the transferee or assignee, as the
case may be, in the policy:
Provided also that the nomination, which has been automatically cancelled
consequent upon the transfer or assignment, the same nomination shall stand
automatically revived when the policy is reassigned by the assignee or
retransferred by the transferee in favour of the policyholder on repayment of
loan other than on a security of policy to the insurer.
(5) Where the policy matures for payment during the lifetime of the person whose
life is insured or where the nominee or, if there are more nominees than one, all
the nominees die before the policy matures for payment, the amount secured
by the policy shall be payable to the policyholder or his heirs or legal
representatives or the holder of a succession certificate, as the case may be.
(6) Where the nominee or if there are more nominees than one, a nominee or
nominees survive the person whose life is insured, the amount secured by the
policy shall be payable to such survivor or survivors.
(7) Subject to the other provisions of this section, where the holder of a policy of
insurance on his own life nominates his parents, or his spouse, or his children,
or his spouse and children, or any of them, the nominee or nominees shall be
beneficially entitled to the amount payable by the insurer to him or them under
sub-section (6) unless it is proved that the holder of the policy, having regard to
the nature of his title to the policy, could not have conferred any such beneficial
title on the nominee.
(8) Subject as aforesaid, where the nominee, or if there are more nominees than
one, a nominee or nominees, to whom sub-section (7) applies, die after the
person whose life is insured but before the amount secured by the policy is
paid, the amount secured by the policy, or so much of the amount secured by
the policy as represents the share of the nominee or nominees so dying (as the
case may be), shall be payable to the heirs or legal representatives of the
nominee or nominees or the holder of a succession certificate, as the case may
be, and they shall be beneficially entitled to such amount.
(9) Nothing in sub-sections (7) and (8) shall operate to destroy or impede the right
of any creditor to be paid out of the proceeds of any policy of life insurance.
(10) The provisions of sub-sections (7) and (8) shall apply to all policies of life
insurance maturing for payment after the commencement of the Insurance
Laws (Amendment) Act, 2015.
(11) Where a policyholder dies after the maturity of the policy but the proceeds and
benefit of his policy has not been made to him because of his death, in such a
case, his nominee shall be entitled to the proceeds and benefit of his policy.
(12) The provisions of this section shall not apply to any policy of life insurance to
which section 6 of the Married Women's Property Act, 1874, applies or has at
any time applied;
Provided that where a nomination made whether before or after the
commencement of the Insurance Laws (Amendment) Act, 2015, in favour of
the wife of the person who has insured his life or of his wife and children or any
of them is expressed, whether or not on the face of the policy, as being made
under this section, the said section 6 shall be deemed not to apply or not to have
applied to the policy.
n[a{e> V
~r_m H$mZyZ (gemoYZ) A{Y{Z`_, 2015 mam `Wmgemo{YV ~r_m A{Y{Z`_,
1938 H$r Ymam 45 Ho$ AZwgma
1. OrdZ ~r_m H$s {H$gr nm{bgr H$mo, nm{bgr H$s {V{W go AWmV nm{bgr Ho$ Omar hmoZo H$s
{V{W `m Omo{I_ Ho$ Ama^ hmoZo H$s {V{W go `m nm{bgr Ho$ nwZMbZ H$s {V{W go `m
nm{bgr na amBS>a H$s {V{W go VrZ dfm] H$s g_mpV na, Omo ^r ~mX _| hmo, {H$gr ^r
AmYma na Z Ho$ {bE ~wbm`m Zht Om gH$Vm h&
2. OrdZ ~r_m H$s {H$gr nm{bgr H$m,o nm{bgr H$o Omar hmZoo H$s {V{W `m Om{oI_ Ama^ hmZoo H$s
{V{W `m nm{bgr H$o nZwMbZ H$s {V{W go `m nm{bgr H$o amBS>a H$s {V{W go VrZ dfm] H$o AXa
{H$gr ^r g_`, Omo^r ~mX _|hm,o YmI o YoS>r H$o AmYma na Z H$o {bE ~b w m`m Om gH$Vm h&
eV `h h {H$ ~r_mH$Vm mam ~r_mYmaH$ H$mo `m ~r_mYmaH$ Ho$ H$mZyZr {V{Z{Y `m Zm{_Vm|
{OZHo$ AmYma na `h \$gbm {b`m J`m h&
n>rH$aU I : Bg Cn-Ymam Ho$ `moOZ hoVw, YmoIoYS>r H$m AW h ~r_mYmaH$ `m
CgHo$ EOoQ> mam ~r_mH$Vm H$mo YmoIm XoZo `m ~r_mH$Vm H$mo OrdZ ~r_m nm{bgr Omar
H$aZo Ho$ {bE ^m{dV H$aZo Ho$ BamXo go {H$`m J`m {ZZ{b{IV _| go H$moB H$m`:
A. gwPmd, Omo {H$ V` $n _| ghr Zht h VWm {OgHo$ gM hmoZo na ~r_mYmaH$ H$mo
{ddmg Zht h;
~. ~r_mYmaH$ mam {H$gr V` H$mo {N>nmZm, Omo CgH$s OmZH$mar _| Wm `m CgH$s
dmV{dH$Vm na Cgo {ddmg Wm;
g. YmoIoYS>r Ho$ BamXo go CR>m`m J`m H$moB A` H$X_; VWm
X. H$moB A` Eogm H$X_ `m ^yb-MyH$ {Ogo H$mZyZ {deof $n go YmoImYS>r _mZVm hmo&
n>rH$aU II: ~r_mH$Vm mam Omo{I_ Ho$ AmH$bZ H$mo ^m{dV H$aZo dmbo V`m| Ho$ ~mao
_| {g\$ Mwn ahZm YmoImYS>r Zht h, O~ VH$ {H$ _m_bo H$s n[apW{V`m| Ho$ AZwgma,
~r_mYmaH$ `m CgHo$ EOoQ> H$m `h H$V` h& ~mobZo go Mwn ahZm `m A`Wm CgH$s
Im_moer AnZo Amn _| ~mobZo Ho$ ~am~a hmo&
3. CnYmam (2) _| H$wN> ^r {Z{hV hmZoo H$o ~mdOXy, H$mBo ^r ~r_mH$Vm {H$gr OrdZ ~r_m nm{bgr
H$mo YmI
o YoS>r H$o AmYma na AdrH$V Zht H$a gH$Vm h, AJa ~r_mYmaH$/bm^mWu `h
_m{UV H$a gH$o {H$ CgH$o mam H$s JB JbV~`mZr CgH$s A{YH$V_ OmZH$mar H$o
AZg w ma ghr Wr Ama CgZo OmZ~P y H$a V`m| H$mo {N>nmZo H$s H$m{oee Zht H$s `m H${WV
JbV~`mZr `m _hdnUyV` H$mo{N>nm`m OmZm ~r_mH$VmH$s OmZH$mar _|Wm&
YmoIoYS>r Ho$ _m_bo _| Bgo JbV gm{~V H$aZo H$m Xm{`d bm^m{W`m| na h AJa
nm{bgrYmaH$ Or{dV Zht h&
n>rH$aU - H$moB `p V Omo ~r_m H$s g{dXm H$m AmJh Ama CgH$s gmXo~mOr H$aVm h
Cgo g{dXm Ho$ `moOZ Ho$ {bE ~r_mH$Vm H$m EOoQ> _mZm OmEJm&
4. OrdZ ~r_m H$s {H$gr nm{bgr H$mo nm{bgr Ho$ Omar H$aZo H$s {V{W go `m Omo{I_ Ho$ Ama^
hmoZo H$s {V{W go `m nm{bgr Ho$ nwZMbZ H$s {V{W go `m nm{bgr Ho$ amBS>a H$s {V{W go
VrZ dfm] Ho$ AXa, Omo ^r ~mX _| hmo, {H$gr ^r g_`, Bg AmYma na Z Ho$ {bE ~wbm`m
Om gH$Vm h {H$ ~r{_V `p V Ho$ OrdZH$mb go g~{YV {H$gr V` H$mo Vmd n _|
`m {H$gr A` H$mJOmV _|, {OgHo$ AmYma na nm{bgr Omar H$s JB Wr `m nwZMm{bV H$s
JB Wr `m amBS>a Omar {H$`m J`m Wm, {N>nm`m J`m Wm `m JbV {XIm`m J`m Wm&
eV `h h {H$ ~r_mH$Vm mam ~r_mYmaH$ H$mo `m ~r_mYmaH$ Ho$ H$mZyZr {V{Z{Y `m
Zm_m{H$V `p V`m| `m g_ZwXo{eVm| H$mo {b{IV _| CZ AmYmam| VWm V`m| Ho$ ~mao _|
gy{MV H$aZm hmoJm, {OZHo$ AmYma na OrdZ ~r_m H$mo nm{bgr H$mo AdrH$V H$aZo H$m `h
\$gbm {b`m J`m h& AmJo eV `h h {H$ _hdnyU V` H$s JbV~`mZr `m {N>nmE OmZo Ho$
AmYma na nm{bgr H$mo AdrH$V {H$E OmZo VWm YmoIoYS>r H$s pW{V Z hmoZo na,
AdrH${V H$s {V{W VH$ nm{bgr na O_m {H$E JE g^r r{_`_m| H$m ^wJVmZ ~r_mYmaH$
`m ~r_mYmaH$ Ho$ H$mZyZr {V{Z{Y `m Zm{_Vm| `m g_ZwXo{eVm| H$mo Eogr AdrH${V H$s
{V{W go Z~o {XZm| Ho$ AXa H$a {X`m OmEJm&
n>rH$aU - Bg Cn-Ymam Ho$ `moOZ hoVw, {H$gr V` H$s JbV~`mZr `m {N>nmE OmZo
H$mo V~ VH$ _hdnyU Zht _mZm OmEJm, O~ VH$ {H$ CgH$m ~r_mH$Vm mam drH$ma {H$E
JE Omo{I_ na H$moB `j ^md Z hmo, `h _m{UV H$aZo H$m Xm{`d ~r_mH$Vm H$m hmoJm
{H$ AJa ~r_mH$Vm H$mo Wm{nV V` H$s OmZH$mar hmoVr Vmo dh ~r_mYmaH$ H$mo `h OrdZ
~r_m nm{bgr Omar Zht H$aVm&
5. Bg Ymam _| {Z{hV Hw$N> ^r ~r_mH$Vm H$mo {H$gr ^r g_` C_ H$m _mU _mJZo go Zht
amoH$Vr h, AJa dh BgHo$ {bE A{YH$V h VWm {H$gr nm{bgr H$mo {g\$ Bg{bE Z Ho$
{bE ~wbm`m Zht Om gH$Vm h `mo{H$ Vmd _| JbV CboI H$s JB ~r{_V `p V H$s
C_ H$mo g~yV Ho$ AmYma na ~mX _| g_m`mo{OV {H$`m J`m Wm&
Annexure- V
Section 45 as per the Insurance Act 1938, as amended by the Insurance Laws
(Amendment) Act, 2015
(1) No policy of life insurance shall be called in question on any ground
whatsoever after the expiry of three years from the date of the policy, i.e.
from the date of issuance of the policy or the date of commencement of risk
or the date of revival of the policy or the date of the rider to the policy,
whichever is later.
(2) A policy of life insurance may be called in question at any time within three
years from the date of issuance of the policy or the date of commencement of
risk or the date of revival of the policy or the date of the rider to the policy,
whichever is later on the ground of fraud:
Provided that the insurer shall have to communicate in writing to the insured or
the legal representatives or nominees or assignees of the insured the grounds
and materials on which such decision is based.
Explanation I- For the purposes of this sub-section, the expression fraud
means any of the following acts committed by the insured or by his agent, with
the intent to deceive the insurer or to induce the insurer to issue a life insurance
policy:-
(a) the suggestion, as a fact of that which is not true and which the insured
does not believe to be true;
(b) the active concealment of a fact by the insured having knowledge or belief
of the fact;
(c) any other act fitted to deceive; and
(d) any such act or omission as the law specially declares to be fraudulent.
Explanation II- Mere silence as to facts likely to affect the assessment of the
risk by the insurer is not fraud, unless the circumstances of the case are such
that regard being had to them, it is the duty of the insured or his agent, keeping
silence to speak, or unless his silence is, in itself, equivalent to speak.
(3) Notwithstanding anything contained in subsection (2), no insurer shall
repudiate a life insurance policy on the ground of fraud if the insured can prove
that the misstatement of or suppression of a material fact was true to the best of
his knowledge and belief or that there was no deliberate intention to suppress
the fact or that such misstatement of or suppression of a material fact are within
the knowledge of the insurer:
Provided that in case of fraud, the onus of disproving lies upon the
beneficiaries, in case the policyholder is not alive.
Explanation A person who solicits and negotiates a contract of insurance
shall be deemed for the purpose of the formation of the contract, to be the
agent of the insurer.
(4) A policy of life insurance may be called in question at any time within three
years from the date of issuance of the policy or the date of commencement of
risk or the date of revival of the policy or the date of the rider to the policy,
whichever is later, on the ground that any statement of or suppression of a fact
material to the expectancy of the life of the insured was incorrectly made in the
proposal or other document on the basis of which the policy was issued or
revived or rider issued:
Provided that the insurer shall have to communicate in writing to the insured or
the legal representatives or nominees or assignees of the insured the grounds
and materials on which such decision to repudiate the policy of life insurance is
based:
Provided further that in case of repudiation of the policy on the ground of
misstatement or suppression of a material fact, and not on the ground of fraud
the premiums collected on the policy till the date of repudiation shall be paid to
the insured or the legal representatives or nominees or assignees of the insured
within a period of ninety days from the date of such repudiation.
Explanation - For the purposes of this sub-section, the misstatement of or
suppression of fact shall not be considered material unless it has a direct
bearing on the risk undertaken by the insurer, the onus is on the insurer to show
that had the insurer been aware of the said fact no life insurance policy would
have been issued to the insured.
(5) Nothing in this 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 deemed to be
called in question merely because the terms of the policy are adjusted on
subsequent proof that the age of the life insured was incorrectly stated in the
proposal.