Welcome Kit Term Plan-PS - PDF2

Ref.
: 50179997 / 01568152 / K33 PART-A FORWARDING LETTER
Date : 25th November 2019

MR ABHISHEK SENGUPTA
P-139 C I T ROAD
SCHEME 6 M KANKURGACHI
KOLKATA WEST BENGAL INDIA KOLKATA
LANDMARK :
WEST BENGAL 700054
Tel : 9874118158
Future Generali Triple Anand Advantage

Limited Premium Payment Traditional Non Linked Participating endowment
Dear MR ABHISHEK SENGUPTA

Welcome to Future Generali
We thank You for choosing Us for Your insurance needs and are committed to providing You with world-class
products and professional service. We are pleased to enclose herewith Your original Policy Document along with the
First Premium Receipt of Your Policy No. 01568152
Under this Policy, Premium must be paid in the manner specified in this Policy terms and conditions and the benefits
specified in this Policy terms and conditions will become payable on the occurrence of the events described in this
Policy.
Your Free Look Period
You have the right to cancel this Policy within 15 days of receipt of the Policy Document (30 days if You have
purchased this Policy through Distance Marketing Mode) if You disagree with any of the terms and conditions by
giving Us a written request for cancellation of this Policy which states the reasons for Your objections. We will cancel
this Policy and refund the premium received after deducting proportionate risk Premium for the period on cover,
stamp duty charges and expenses incurred by Us on the medical examination of the Life Assured (if any).
On receipt of the Policy Document, You are requested to review the terms and conditions in detail and verify that
Your details and the Life Assured’s details are accurately set out in the Schedule. If any changes are required to Your
details or the Life Assured’s details or if You need any clarifications on the terms and conditions of this Policy, please
contact Your insurance agent or Us on the details set out below.
During the Policy Term
If any of the benefits under this Policy become payable or You wish to exercise any rights under this Policy or if Your
details or the Life Assured’s details or the Nominee’s details are to be updated, please contact Your insurance agent or
Us on the details set out below and We will be pleased to assist You.
We also look forward to, and shall appreciate Your feedback on Our products and services. We are happy to be Your
Total Insurance Solutions Provider.
At any stage during the Policy Term, if You should have any queries or require any clarifications on the terms and
conditions of this Policy or the manner/procedure for the payment of the benefits, please contact Your insurance
agent on the details specified in the Schedule below or Us on any of the contact details set out below:
Future Generali India Life Insurance Company Limited

Corporate Office: Indiabulls Finance Center, Tower 3, 6th Floor, Senapati Bapat Marg, Elphinstone(W), Mumbai - 400013. Tel: 91-22-4097 6666 Fax: 91-22-4097 6600
Branch Office:Future Generali India Life Insurance Company Limited Lodha i-Think Techno Campus, 1st Floor, A-wing, Off Eastern Express Highway, Pokharan Road No.2
Thane West-400601 At present all thecommunication letters having Toll Free No.:- 1800 102 2355
(IRDA Regn. No.: 133) . CIN : U66010MH2006PLC165288 01568152 Page 1 of 34
Future Generali India Life Insurance Company Limited:
Toll Free Number: 1800 102 2355
Email: care@futuregenerali.in .
Operations Hub Address:
Lodha i - Think techno campus, A wing - 1st floor, Pokhran Road -2, Off Eastern Express Highway, Behind TCS
Bldg, Thane West - 400607.
Registered and Corporate Office Address:
Indiabulls Finance Center, Tower 3, 6th Floor, Senapati Bapat Marg, Elphinstone(W), Mumbai - 400013.
Tel: 91-22-4097 6666;Fax: 91-22-4097 6600; Website: www.futuregenerali.in
We trust that Your insurance plan will meet Your requirements. We assure You of Our best services always.
Insurance is the subject matter of the solicitation.
Future Planning Advisor/Intermediary/Employee

Name SHELLY SENGUPTA
Code 80172368
Authorised signatory
Mr. S. Mahesh Contact Details 8240565254
Head - Operations
Future Generali India Life Insurance
Company Limited

Thane West-400601 At present all thecommunication letters having Toll Free No.:- 1800 102 2355
First Premium Receipt
MR ABHISHEK SENGUPTA Receipt No. 15154489

P-139 C I T ROAD , SCHEME 6 M KANKURGACHI Date 14/11/2019
KOLKATA WEST BENGAL INDIA, KOLKATA
WEST BENGAL, 700054

Customer GSTIN : -
Dear MR ABHISHEK SENGUPTA,
This is to certify that payments towards your application no D00576085 , have been accounted by us towards the
first premium for your policy number 01568152 . The particulars of the payment are as given below:
Plan details and premium amount Amount (Rs.)
Future Generali Triple Anand Advantage 65,191.00
Backdation interest*** 0.00
Goods and Services Tax 2,934.00
a. Taxable Value 16,300.00
b. CGST @9% 1,467.00
c. SGST / UTGST @9% 1,467.00
d. IGST @18% 0.00
Total Amount Adjusted 68,125.00
Amount Received 68,125.00
Balance in deposit** 0.00
The next Annual installment premium is due on 11/11/2020

Premium(s) payment to Future Generali India Life Insurance Company Limited are eligible for tax
benefit as may be available under the provisions of Section(s) 80C, 80CCC(1), 80D, as applicable.
Following is the details of your FGLI branch:
State Name West Bengal
State Code 19
FGLIC GSTIN 19AABCF0190Q1Z9
FG Address(Principal place of the business 3RD FLOOR, SAKET BUILDING, NO.44 PARK
in the state) STREET, KOLKATTA - 700 016

Thane West-400601 At present all the communication letters having Toll Free No.:- 1800 102 2355
First Premium Receipt
Consolidated Mudrank Revenue stamp duty paid by MUDRANK order no. CSD/216/2019/5509/19, Dated
19/11/2019, Applicable if receipt amount is greater than Rs 5000
** Balance in deposit till Rs 200 will be adjusted against future dues.
*** The rate of interest charged for backdation is 12% p.a.
The rate of the Goods and Services Tax is charged as per prevailing rate,notified by Government. Tax
laws are subject to amendments from time to time.
HSN- 9971 Life Insurance Services (excluding Reinsurance Services)
Whether tax payable on reverse charge - NO
Taxable Value shall have same meaning as defined in CGST/ IGST Act 2017 and as amended from time
to time.

Policy Schedule

Limited Premium Payment Traditional Non Linked Participating endowment insurance
THIS SCHEDULE IS PART OF THIS POLICY AND IS SUBJECT TO AND HAS TO BE READ ALONG WITH
THE ATTACHED POLICY DOCUMENT.
Policy number : 01568152 Customer ID : 50179997
Application Date : 07/11/2019
Name of the MR ABHISHEK Age of the Policyholder : 40
Policyholder: SENGUPTA Gender : Male
Name of the Life MR ABHISHEK SENGUPTA Age of the Life Assured : 40 years
Assured : Age Admitted: Yes/No : Y
Date of birth of Life 20/07/1979 Gender : Male

Assured :
Address : P-139 C I T ROAD, Mobile No : 9874118158
SCHEME 6 M
KANKURGACHI,
KOLKATA WEST BENGAL
INDIA, KOLKATA, WEST
BENGAL, 700054
Nominee(s) : MRS PERENA SENGUPTA Appointee (if Nominee is a minor) :
Relationship with Policyholder : Wife Age of Nominee : 33

Future Planning SHELLY SENGUPTA Future Planning 80172368
Advisor/ Advisor/
Intermediary/ Intermediary/
Employee name : Employee code :
Email : - Future Planning
Advisor/
Intermediary/
Employee License No.:
Address : FUTURE GENERALI Mobile/Landline 8240565254
INDIA LIFE INSURANCE Telephone Number :
CO.LTD, INDIABULLS
FINANCE CENTRE,,
TOWER 3, 6TH FLOOR,
SENAPATI BAPAT MARG,
ELPHINSTONE (W),
MUMBAI, 400013
Policy & Rider Benefits

List of UIN Policy Risk Maturity Sum Policy Premium Extended
coverage Commence Comm Da Assured/ Term/ Payment Cover End
ment Date/ encement te/Rider Rider Rider Term Date
Rider Date Expiry Sum Term
Commence Date Assured( ₹)
ment Date
Future 11/11/2019 700,000.00 40 15

Generali 133N055V0 14/11/2019 11/11/2039 11/11/2059
Triple 1
Anand
Advantage

Premium Details
List of coverage Instalment Relevant Goods and Total Premium Premium Last
Annualised Premium Modal Services Instalment Frequency Due Dates Premium
Premium (₹) Factor Tax Premium ( Due Date
in ( ₹) ₹)
Future Generali 65,191.00 65,191.00 1.0000 2,934.00 68,125.00 Annual 11/11 11/11/2033
Triple Anand every year
Advantage
First Year Renewal Years

Total Instalment Premium including Riders 65,191.00 65,191.00
Total Goods and Services Tax 2,934.00 1,466.80
Total Instalment Premium after Goods and 68,125.00 66,657.80
Services Tax
Survival Benefit
SI No. Survival Benefit Payment Date Survival Benefit Amount
1 11/11/2034 70,000.00
2 11/11/2035 70,000.00
3 11/11/2036 70,000.00
4 11/11/2037 70,000.00
5 11/11/2038 70,000.00
6 11/11/2039 350,000.00

The rate of the Goods and Services Tax is charged as per prevailing rate,as notified by government. Tax laws are
subject to amendments from time to time. Total Premium is subject to change in case of any variance in the present
rates or in the event of any new or additional tax/levy being made applicable/ imposed on the premium(s). As per
Section 10 (10D) of the Income Tax Act 1961, any sum received under a life insurance policy will only be exempt from
tax provided the annual premium payable in any of the years during the term of the policy does not exceed 10% of the
actual capital sum assured. Tax laws are subject to change.
Only the Riders mentioned above are applicable to this Policy. Any other Riders specified elsewhere in the Policy
Document will not apply to the Policy.
Further sum/s may be allocated to the Basic Policy by way of Bonuses/Guaranteed Additions, if any, as per Part C
Benefit details are given in the accompanying Policy Document.
On examination of this Policy, if You notice any mistake, then it is to be returned to Us immediately for
correction.
For and on behalf of Future Generali India Life Insurance Company Ltd.
Authorized Signatory
Mr. S. Mahesh
Head - Operations
The stamp duty of 205.40 (TWO HUNDRED FIVE RUPEES AND FORTY PAISE ONLY) Paid by order
number CSD/124/2019/4099/19 dated 21/08/2019. Government Notification Revenue and Forest
Department No. Mudrank 2004/4125/CR 690/M-1, Dt.31/12/2004
Digitally signed by S Mahesh

Date: 2019.11.29 22:26:54 +05:30

Copy of Your Application Form
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Copy of Your Benefit Illustration
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Terms and Condition of your Policy
Policy Preamble 3) “Appointee” means the person named in the
Schedule to whom the Death Benefit shall become
We have issued this contract of insurance with You on
payable if the Nominee is less than Age 18 when the
receipt of the first premium and on the basis of the details
Death Benefit becomes payable.
contained in the Proposal Form, other information and
4) “Death Benefit” means the benefit which becomes
documentation submitted to Us in relation to the
payable on the Life Assured’s death in accordance
proposal for insurance cover on the life of the Life
with Part C of this Policy.
Assured and the medical evidence provided (if any). The
5) “Distance Marketing Mode” means insurance
details and declarations contained in the Proposal Form
solicitation/lead generation by way of telephone
are the basis on which this contract of insurance has been
calling/ Short Messaging Service (SMS)/other
issued.
electronic modes such as e-mail, internet and
We agree to pay the benefits specified in this Policy on interactive television (DTH)/direct mail/newspaper
the occurrence of the insured events described in Part C and magazine inserts or any other means of
of this Policy while this Policy is in force, subject to the communication other than in person.
terms and conditions of this Policy and including the 6) “Endorsement” means a written endorsement
receipt of premium. issued by Us on the Schedule to record any changes
For and on behalf of Future Generali India Life to the applicable terms and conditions of this Policy or
Insurance Company Ltd the details contained in the Schedule. Endorsements
shall form a part of this Policy and shall be binding on
You and Us. It is agreed that the terms of an
Endorsement shall supersede any conflicting
(Authorized Signature) provisions in this Policy Document, Rider or Schedule.
Date: 14/11/2019 7) “Financial Year” means the twelve month period
IMPORTANT: You are requested to read this between 1st April of each calendar year and 31st
Policy Document thoroughly. On examination of March of next calendar year.
this Policy, if any error or incorrect description is 8) “Grace Period” means the period of time, as
found, this Policy should be returned to Us specified in Part F, from the Premium Due Date which
immediately for correction. is specified in this Policy during which You can pay the
due Instalment Premium to Us. During the Grace
PART B - DEFINITIONS &
Period, this Policy will be considered to be in force
INTERPRETATION
with the risk cover and without any interruption, as
per the terms of this Policy.
Definitions: The terms defined below are important
9) “Indebtedness” means unpaid Instalment Premiums,
terms which apply under this Policy. These terms are used
any unpaid loans granted by Us under this Policy and
with initial capitals in the Policy Document and shall have
accrued interest thereon and any other amounts You
the meaning ascribed to them below wherever they
owe Us in accordance with the terms of this Policy,
appear in the Policy Document:
including all accrued interest on these amounts. Part
1) “Age” means age as on last birthday which is the
D of this Policy will specify whether loans will be
number of completed years on the last birthday.
granted by Us under this Policy.
2) “Annualised Premium” means the amount specified
10) “Instalment Premium” means the premium
in the Schedule which is the total Installment Premium
amount specified in the Schedule which is payable
payable for a Policy Year.
01568152 Page 18 of 34
under this Policy at the frequency and in the modes 21) “Policy Commencement Date” means the date
specified in the Schedule. specified in the Schedule on which this Policy
11) “IRDAI” means the Insurance Regulatory and commenced.
Development Authority of India. 22) “Policy Term” means the period specified in the
12) “Lapse” means the status of the Policy where due Schedule which is the number of years from the Policy
Instalment Premium ,for the period as specified in the Commencement Date to the Maturity Date.
Part C of the Policy, have not been paid within the 23) “Policy Year” means a period of 12 consecutive
Grace Period and where policy benefits ,if any, shall calendar months from the Policy Commencement
become payable in accordance with Part C. Date and every subsequent Policy Anniversary,
13) “Life Assured” means the person named in the thereafter.
Schedule on whose life the insurance cover under this 24) “Premium Paying Term” means the period
Policy has been granted. specified in the Schedule during which the Instalment
14) Maturity Benefit” means the benefits which become Premiums are payable.
payable on or after the Maturity Date in accordance 25) “Premium Due Date” means date specified in the
with Part C of this Policy. Part C will specify whether Schedule on which the Instalment Premium will
a Maturity Benefit is payable under this Policy. become due.
15) “Maturity Date” means the date specified in the 26) “Proposal Form” means the proposal form
Schedule on which the Maturity Benefit (if any) provided by Us which is completed by You in utmost
becomes payable if the conditions specified in Part C good faith and sets out the various particulars which
of this Policy are satisfied. form the basis of the insurance cover under this
16) “Nominee” means the person named in the Schedule Policy.
to whom the Death Benefit shall become payable if 27) “Reduced Paid-up Policy” means a Policy on which
the conditions specified in Part C of this Policy are due Instalment Premiums are not received after a
satisfied. specified number of Instalment Premiums have been
17) “Policy” means the contract of insurance entered received. Part C of this Policy will specify whether and
into between the Policyholder and Us as evidenced by under which conditions this Policy may be considered
the “Policy Document” to be a Reduced Paid-up Policy. If this Policy is
18) “Policy Document” means this policy document, converted to a Reduced Paid-up Policy, then only
the Proposal Form, the Schedule and any additional those reduced benefits specified in Part C of this
information or documentation provided to Us in Policy will be payable on the occurrence of the
relation to the Proposal Form, any Endorsements insured events.
issued by Us and any Riders attached to this Policy. 28) “Revival” means restoring the lapsed or a Reduced
19) “Policyholder” means the person named in the Paid-up Policy to an inforce Policy as per the revival
Schedule on whom the contract under this Policy is conditions mentioned in Part D of the Policy.
executed and owns this Policy and, subject to the 29) “Revival Period” means a period of 2 consecutive
terms and conditions of this Policy, holds all the rights years from the first Premium Due Date on which the
under the Policy. Instalment Premium was unpaid during which a lapsed
20) “Policy Anniversary” means the same date as the Policy or a Reduced Paid-up Policy may be revived in
Policy Commencement Date in each Policy Year accordance with the terms of Part D of this Policy.
during the Policy Term. 30) “Rider” means a rider contract which is attached to
and forms a part of this Policy. The Schedule will
01568152 Page 19 of 34
specify whether any Riders are applicable under this defined herein shall, unless the context specifies
Policy and the premium amounts payable for such otherwise, have the same meaning as defined in the
Riders. In su ran ce A ct 19 38 a nd/ or t he
31) “Risk Commencement Date” means the date rules/regulations/guidelines made thereunder as may
specified in the Schedule on which the risk under this be amended from time to time.
Policy commences.
PART C - POLICY BENEFITS & PREMIUM
32) “Schedule” means the policy schedule which is issued
PAYMENT CONDITIONS
by Us and attached to this Policy together with any
amendments to the Schedule or Endorsements which The benefits available under this Policy are specified in this
may be issued by Us from time to time. Part C below. Benefit amounts payable on the occurrence
33) “Sum Assured” means the amount specified in the of the events specified below are set out in the Schedule.
Schedule Benefits due will become payable to You / Life Assured or
34) “ Su rr en d er ” me an s th e c om pl et e Your assignee or Nominee or to Your legal heirs,
withdrawal/termination of the entire Policy. Part D of executors, administrators or legal representatives, as
this Policy will specify whether and under which applicable.
conditions this Policy can be Surrendered. In order to secure the full benefits available under this
35) “Surrender Value” means the amount payable, if Policy, Installment Premiums must be paid in full and on
any, on the Surrender of this Policy. Part D of this time for the Premium Paying Term. If the Installment
Policy will specify the manner of calculation of the Premiums are not received on time, then the
Surrender Value, if any. non-forfeiture provisions in this Part C will apply.
36) “Vesting Date” means the Policy Anniversary
Amendments to this Policy shall be effective only if such
coinciding with or immediately following the Life
amendments are carried out only through Endorsements
Assured attaining Age 18 if the Life Assured was a
issued by Us.
minor on the Risk Commencement Date. Part C of
this Policy will specify whether and under which 1) Commencement of Risk Cover under this
conditions this Policy will vest with the Life Assured. Policy
37) “We, Us, Our” means Future Generali India Life The risk cover under this Policy shall commence
Insurance Company Limited. only on the Risk Commencement Date.
38) “You, Your” means the policyholder of this Policy as 2) Death Benefit
named in the Schedule. a) If the Life Assured dies on or after the Risk
Interpretation: Commencement Date but during the Policy Term
1) References in this Policy to the singular shall include the Death Sum Assured payable shall be as
the plural and vice versa. follows, provided that the Policy has not lapsed or
2) References in this Policy to one gender shall include been converted into a Reduced Paid-up Policy in
the other gender. accordance with the provisions of this Part C
3) References in this Policy to any statutes, rules, below
regulations or guidelines shall include any ii) Death benefit payable shall be higher of:
re-enactments or amendments to the same. 1) 105% of all the premiums paid (excluding
4) Section/paragraph headings are for ease of reference taxes, rider premiums and extra premiums, if
only and shall not have any interpretative value. any) as on date of death; and
Words and expressions used in this Policy but not
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2) Death Sum Assured plus vested Compound 6) Participation in Profits and Bonus
Reversionary Bonuses, if any plus Terminal a) This Policy, if not lapsed or not been converted
Bonus, if any. into a Reduced Paid-up Policy in accordance with
Where, Death Sum Assured shall be the highest of the provisions of this Part C below, shall
the following: participate in the profits of the Company’s
• Sum Assured Participating Life Assurance Policyholder’s Fund
• 10 times Annualized Premium from the Policy Commencement Date. It gets a
• Maturity Sum Assured share of the profits emerging from the Company’s
• Absolute amount payable on death Participating Life Assurance Policyholder’s Fund in
Note: the form of Bonuses.
Maturity Sum Assured is equal to 50% of Sum Assured; b) Compound Reversionary Bonuses are declared as
and a percentage rate, which apply to the Sum
Absolute Amount assured to be paid on death is equal to Assured plus the reversionary bonuses already
Sum Assured. attaching on this Policy. They are declared
annually at the end of each financial year based on
3) Survival Benefit
the statutory valuation carried out under
a) Provided the Life Assured is alive at the time of
prevailing Regulations.
Survival Benefit Payment Dates as specified in this
c) Once declared, they form a part of the guaranteed
Schedule and that the Policy has not lapsed or
benefits of the Policy.
been converted into a Reduced Paid-up Policy in
accordance with the provisions of this Part C d) Terminal Bonus , if any, will be paid on death
below, a Survival Benefit Amount equal to 10% of during the Policy Term or on survival to the end
Sum Assured, as specified in this Schedule, shall be of the Policy Term and will be used for the exits in
paid to You on the Survival Benefit Payment the following financial year
Dates. 7) Premium Payment Conditions
4) Maturity Benefit a) Payment of Instalment Premium:
a) If the Life Assured is alive on the Maturity Date Installment Premiums shall be payable in full on
and if all Instalment Premiums have been received the Premium Due Dates until the expiry of the
in full, the Maturity Sum Assured equal to 50% of Premium Paying Term. The Instalment Premiums
the Sum Assured plus Vested Compound shall be deemed to have been paid only when they
Reversionary Bonuses, if any, plus Terminal Bonus, have been received at Our head office or any
if any, shall be paid other office authorized by Us for that purpose.
5) Extended Cover b) Change in Premium Payment Frequency:
a) After the expiry of Policy Term, an extended We will permit any change to be made to the
benefit equal to the Sum Assured shall be payable frequency at which the Instalment Premium is
either on death of the Life Assured or Life payable as recorded in the Policy Schedule. Such
Assured being alive on the Extended Cover End change will be allowed with effect from next
Date as specified in this Schedule, whichever is Policy Anniversary.
earlier. Extended Cover End Date is the date c) Deduction of Instalment Premiums from
corresponding to Policy Anniversary on which the the Claim Amount:
Life Assured attains Age 80.
01568152 Page 21 of 34
If this Policy is in force and the Death Benefit Policy Years from Policy
becomes payable in accordance with the Part C, Commencement Date and this Policy
any Instalment Premiums due till the next Policy will terminate thereafter. In case the
Anniversary, shall be deducted from the Death Life Assured dies during the Revival
Benefit payable under this Policy. Period, this lapse value will be payable
d) Cessation of Payment of Instalment on death of the Life Assured.
Premium: (b) Provided the Policyholder has not paid
due Instalment Premiums for first two
If the Life Assured dies during the Policy Term,
Policy Years in full, no lapse value
any Instalment Premiums that would otherwise
(benefit) shall be payable on the date
have been due on or after the next Policy
of expiry of Revival Period, and this
Anniversary following the death of the Life
Policy will terminate.
Assured are not required to be paid to Us.
ii) Conversion of this Policy to a Reduced
8) Non-Forfeiture Provisions
Paid-up Policy
If any Instalment Premium remains unpaid at the end
of the Grace Period (Refer Part F), this Policy will be (1) If after the receipt of Instalment Premiums for
subject to the non-forfeiture provisions below. the first 3 Policy Years in full, any subsequent
Instalment Premium remains unpaid upon the
i) Lapse of this Policy
expiry of the Grace Period, this Policy will be
(1) If due Instalment Premiums for the first three
converted into a Reduced Paid Up Policy.
Policy Years have not been paid within the
(2) If this Policy is converted to a Reduced
Grace Period, this Policy shall lapse the Death
Paid-Up policy, it shall not participate in the
Benefit shall not be payable if the Life Assured
profits of the Company’s Participating Life
dies after this Policy has lapsed and before it
Assurance Policyholder’s Fund from the
has been revived in accordance with Part D of
first Premium Due Date on which the
this Policy.
Instalment Premium was unpaid.
(2) This Policy may be revived within the Revival (3) If the Life Assured dies after this Policy has
Period in accordance with Part D of this Policy. been converted to a Reduced Paid-up Policy
(3) If this Policy is not revived within the and before this Policy has been revived in
Revival Period, accordance with Part D of this Policy, the
(a) Provided the Policyholder has paid Death Benefit payable will reduce in
Instalment Premium for atleast first proportion to the number of Instalment
two Policy Years and subsequent due Premiums received to the total number of
Premiums have not been paid , a lapse Instalment Premiums payable for the Premium
value equal to 30% of the Instalment Paying Term. This reduced Death Benefit
Premiums received (excluding taxes amount shall be payable in the manner set
and extra premiums, if any) shall be out in the Death Benefit provisions in this Part
payable on the date of expiry of C above.
Revival Period and this Policy will (4) If the Life Assured is alive and this Policy is a
terminate thereafter. The Policyholder Reduced Paid-up Policy on the Survival
has the option to take the lapse value Benefit Payment Dates, the Survival Benefit
anytime after completion of three
01568152 Page 22 of 34
payable will reduce in proportion to the c) on the date of payment of Extended Cover
number of Instalment Premiums received to Benefit; or
the total number of Instalment Premiums d) on the date of receipt of Free Look request in
payable for the Premium Paying Term. This accordance with Part D of this Policy; or
reduced Survival Benefit Amount shall be e) on the expiry of the Revival Period provided We
payable in the manner set out in the Survival have not received the due unpaid regular
Benefit provisions in this Part C above Premiums along with interest from You till the
(5) If the Life Assured is alive and this Policy is a expiry of such period and this Policy is not under
Reduced Paid-up Policy on the Maturity Date, the Reduced Paid-Up status. on the date of
the Maturity Benefit payable will reduce in payment of Lapse Value, if any
proportion to the number of Instalment
Premiums received to the total number of
Instalment Premiums payable for the Premium PART D - POLICY SERVICING
Paying Term. This reduced Maturity Benefit CONDITIONS
amount shall be payable in the manner set
out in the Maturity Benefit provisions in thisThe procedure and conditions applicable to various policy
Part C above. servicing aspects pertaining to this Policy are specified in
(6) Extended Cover under Paid Up Policy - this Part D below.
After the expiry of Policy Term and this 1) Free Look Period
Policy is a Reduced Paid-up Policy, the a) You may return this Policy within 15 days of
Extended Benefit will reduce in proportion to receipt of the Policy Document (30 days if You
the number of Instalment Premiums received have purchased this Policy through Distance
to the total number of Instalment Premiums Marketing Mode) if You disagree with any of the
payable for the Premium Paying Term. This terms and conditions by giving Us a written
reduced Extended Benefit amount shall be request for cancellation of this Policy which is
payable in the manner set out in the Extended dated and signed by You which states the reasons
Cover provisions in this Part C above for Your objections. We will cancel this Policy and
(7) A Reduced Paid-up Policy may be revived refund the Instalment Premium received after
within the earlier of the expiry of the Revival deducting proportionate risk premium for the
Period and the Maturity Date or may be period on cover, stamp duty charges and
Surrendered in accordance with Part D of this expenses incurred by Us on the medical
Policy. examination of the Life Assured (if any).
9) Termination of the Policy 2) Surrender
This Policy will cease immediately and automatically on a) This Policy will acquire Surrender Value after the
the happening of the earliest of any of the following: due Instalment Premiums have been received in
a) on the date of payment of the entire Death full for first 3 Policy Years. Once this Policy has
Benefit upon the death of the Life Assured; or acquired a Surrender Value, this Policy or the
b) on the date of payment of Surrender Value of this Reduced Paid-up Policy may be surrendered
Policy; or during the Policy Term and We will pay You the
Surrender Value.
01568152 Page 23 of 34
b) The Surrender Value on this Policy will depend on 11 52% 50% 25% 12%
the Premium Payment Term and the Policy Year
12 54% 52% 28% 14%
of surrender and it shall be higher of the Special
Surrender Value and the Guaranteed Surrender 13 56% 53% 33% 16%
Value (as defined below): 14 58% 55% 38% 19%
i) “Guaranteed Surrender Value” means an 15 60% 56% 43% 21%
amount which is calculated in the following
16 62% 58% 50% 25%
manner:
Guaranteed Surrender Value = X% of total 17 64% 59% 57% 28%
Instalment Premiums received under this Policy 18 66% 61% 66% 33%
(excluding taxes and extra premiums, if any) plus 19 68% 62% 76% 38%
Y% of vested Compound Reversionary Bonus,
20 70% 64% 87% 43%
if any, less any Benefits already paid to
YouWhere X% and Y% are as given as follows: 21 70% 65% 87% 50%
22 70% 67% 87% 57%
Y% (GSV Factor 23 70% 68% 87% 66%
for Vested 24 70% 70% 87% 76%
X%(GSV Factor
Compound
for Premiums) 25 70% 70% 87% 87%
Reversionary
Bonus) 26 and 70% 70% 87% 87%
above
Policy
Year of Premium Premium
Surrender Payment Term Payment Term
ii) “Special Surrender Value” means an

15 20 15 20 amount which is calculated in the following
years years years years manner:
3 30% 30% 8% 4% Special Surrender Value =
4 50% 50% 9% 5% Special Surrender Value Factor for Sum Assured x
(Number of Instalment Premiums received /Total
5 50% 50% 11% 5%
number of Instalment Premiums payable for the
6 50% 50% 12% 6% Premium Paying Term ) * Sum Assured
7 50% 50% 14% 7% Plus
8 50% 50% 16% 8% Special Surrender Value Factor for Vested Bonus
x (Vested Compound Reversionary Bonus)
9 50% 50% 19% 9%
The Special Surrender Value Factors shall be
10 50% 50% 21% 11%
determined based on Our past financial and
demographic experience of the product / group of
similar products and likely future experience and may
be reviewed from time to time depending on changes
01568152 Page 24 of 34
in internal and external experience and likely future i) If this Policy has acquired Surrender Value,
experience. With prior approval from IRDAI loan is available under the policy to the extent
c) This Policy shall automatically terminate on of 85% of the Surrender Value.
Surrender. ii) The minimum amount of Policy loan that can be
3) Revival taken is Rs 10,000 /-
iii) Interest shall accrue on Policy loan at a rate which
a) If this Policy has lapsed or is a Reduced Paid-up
shall be determined by Us from time to time
Policy, it may be revived within the earlier of the
based on current market interest rate on 10-year
expiry of the Revival Period and the Maturity Date
Government Securities (G-Sec) + 2% rounded to
unless this Policy has been Surrendered in
nearest 1%. G-Sec rates are as declared by
accordance with this Part D. Revival Period is 2
FIMMDA (Fixed Income Money Market and
consecutive years from the first Premium Due
Derivatives Association of India). The interest rate
Date on which the Instalment Premium was
applicable for the financial year will be declared at
unpaid.
start of the financial year. The current interest rate
b) In order to revive this Policy, You must give Us a
for the Financial Year 2017-18 applicable on loans
written request for revival along with:
is 9% per annum compounded half-yearly.
i) The Life Assured’s health declaration and iv) Any unpaid interest shall be added to the
other evidence of insurability to Our principal loan and bear interest at the
satisfaction. prevalent rate.
ii) Payment of all overdue Instalment Premiums v) Interest shall be payable on the next Policy
in full (along with the Goods and Services Tax Anniversary or six months before the next
or any other taxes, cesses or levies, if any) and Policy Anniversary if earlier, after the loan
interest at such a rate as may be determined date; and every six months thereafter until the
by Us from time to time. loan is repaid.
iii) The current rate of interest used is 9% per vi) You have the option to repay the principal
annum compound . We may decide to change and accrued interest in full or any part of the
the interest charged on revival from time to loan anytime.
time with prior approval from IRDAI. vii) Any unpaid loan or interest on this Policy will
c) On Revival, all the bonuses declared while the be deducted from any payment or proceeds
Policy was in Reduced Paid-up/Lapse status will be under this Policy (including any Survival
added back to the Policy. Benefit) at the time of settlement. Our claim
d) This Policy will be revived in accordance with Our for any loan including outstanding interest will
board approved underwriting policy. have priority over the claim of any credit or
e) Any revival shall only cover the loss or insured assignee.
event which occurs after the Revival Date. The viii) Provided the Policy is in Reduced Paid-Up
revival of a rider, if any, will take place only with status, in the event of failure to pay the loan
the revival of this Policy and not in isolation. interest on the due dates, under
4) Loans circumstances when the loan with outstanding
interest together with any indebtedness
a) Loan will be provided under this Policy subject to
exceeds the Surrender Value, this Policy shall
the following conditions:
be terminated. This provision will not apply in
01568152 Page 25 of 34
the event this Policy is in inforce status or all 2) This Policy is a non-linked insurance product, so no
Premiums payable under this Policy stand paid. funds or fund options are available.
ix) Until such time as the loan persists in our books,
your Policy shall remain assigned to us.
x) Policy loan will not be extended beyond the PART F - GENERAL TERMS & CONDITIONS
Maturity Date. 1. Non-Disclosure& Fraud
5) Policy Vesting Provisions Please note the terms of Section 45 of the Insurance Act,
The following provisions apply only if the Life Assured 1938, as amended from time to time, which states as
is less than Age 18 on the Risk Commencement Date: follows:
a) If this Policy is in force or has otherwise acquired (1) No policy of life insurance shall be called in question
a Surrender Value on the Vesting Date, this Policy on any ground whatsoever after the expiry of three
shall automatically vest in the Life Assured on the years from the date of the policy, i.e., from the date of
Vesting Date. issuance of the policy or the date of commencement of
b) If You die when the Life Assured is less than Age risk or the date of revival of the policy or the date of
18: the rider to the policy, whichever is later.
i) No immediate benefit will be payable under (2) A policy of life insurance may be called in question at
this Policy, but this Policy may be continued any time within three years from the date of issuance
for the remainder of the Policy Term with the of the policy or the date of commencement of risk or
appointment of the Life Assured’s parents or the date of revival of the policy or the date of the rider
legal guardian as the Policyholder under this to the policy, whichever is later, on the ground of fraud:
Policy for all purposes. Provided that the insurer shall have to communicate in
ii) If this Policy has been converted to a Reduced writing to the insured or the legal representatives or
Paid-up Policy and a new policyholder is not nominees or assignees of the insured the grounds and
available or interested in continuing this Policy materials on which such decision is based.
on Your death, this Policy may either remain a
Explanation I.- For the purposes of this sub-section, the
Reduced Paid-up Policy for the remainder of
expression "fraud" means any of the following acts
the Policy Term or may be Surrendered in
committed by the insured or by his agent, with intent
accordance with the provisions of Part D of
to deceive the insurer or to induce the insurer to issue
this Policy by the Life Assured’s parents or
a life insurance policy:-
legal guardian provided that the necessary
(a) the suggestion, as a fact of that which is not true
permission of the Indian courts/authorities has
and which the insured does not believe to be true;
been obtained.
iii) If this Policy has not been converted to a (b) the active concealment of a fact by the insured
Reduced Paid-up Policy and a new having knowledge or belief of the fact;
policyholder is not available or interested in (c) any other act fitted to deceive; and
continuing this Policy on Your death, this (d) any such act or omission as the law specially
Policy will automatically lapse and the declares to be fraudulent.
provisions of Part C of this Policy shall apply. Explanation II.- Mere silence as to facts likely to affect
Applicable Charges, Funds & Fund Options the assessment of the risk by the insurer is not fraud,
unless the circumstances of the case are such that
1) No charges or fees are applicable under this Policy.
01568152 Page 26 of 34
regard being had to them, it is the duty of the insured insured within a period of ninety days from the date of
or his agent keeping silence, to speak, or unless his such repudiation.
silence is, in itself, equivalent to speak. Explanation.- For the purposes of this sub-section, the
(3) Notwithstanding anything contained in sub-section(2), misstatement of or suppression of fact shall not be
no insurer shall repudiate a life insurance policy on the considered material unless it has a direct bearing on
ground of fraud if the insured can prove that the the risk undertaken by the insurer, the onus is on the
mis-statement of or suppression of a material fact was insurer to show that had the insurer been aware of the
true to the best of his knowledge and belief or that said fact no life insurance policy would have been
there was no deliberate intention to suppress the fact issued to the insured.
or that such mis-statement of or suppression of a (5) Nothing in this section shall prevent the insurer from
material fact are within the knowledge of the insurer: calling for proof of age at any time if he is entitled to
Provided that in case of fraud, the onus of disproving do so, and no policy shall be deemed to be called in
lies upon the beneficiaries, in case the policyholder is question merely because the terms of the policy are
not alive. adjusted on subsequent proof that the age of the life
Explanation.- A person who solicits and negotiates a insured was incorrectly stated in the proposal.
contract of insurance shall be deemed for the purpose 2. Prohibition of Rebates
of the formation of the contract, to be the agent of the
Please note the terms of Section 41 of the Insurance
insurer.
Act,1938, as amended from time to time, which states as
(4) A policy of life insurance may be called in question at follows:
any time within three years from the date of issuance
“ (1)No person shall allow or offer to allow, either
of the policy or the date of commencement of risk or
directly or indirectly, as an inducement to any person
the date of revival of the policy or the date of the rider
to take or renew or continue an insurance in respect of
to the policy, whichever is later, on the ground that any
any kind of risk relating to lives or property in India,
statement of or suppression of a fact material to the
any rebate of the whole or part of the commission
expectancy of the life of the insured was incorrectly
payable or any rebate of the premium shown on the
made in the proposal or other document on the basis
policy, nor shall any person taking out or renewing or
of which the policy was issued or revived or rider
continuing a policy accept any rebate, except such
issued:
rebate as may be allowed in accordance with the
Provided that the insurer shall have to communicate in
published prospectuses or tables of the insurer:
writing to the insured or the legal representatives or
nominees or assignees of the insured the grounds and Provided that acceptance by an insurance agent of
materials on which such decision to repudiate the commission in connection with a policy of life insurance
policy of life insurance is based. taken out by himself on his own life shall not be
deemed to be acceptance of a rebate of premium
Provided further that in case of repudiation of the
within the meaning of this sub-section if at the time of
policy on the ground of mis-statement or suppression
such acceptance the insurance agent satisfies the
of a material fact, and not on the ground of fraud, the
prescribed conditions establishing that he is a bona fide
premiums collected on the policy till the date of
insurance agent employed by the insurer.
repudiation shall be paid to the insured or the legal
representatives or nominees or assignees of the
01568152 Page 27 of 34
(2) Any person making default in complying with the reduced to the amount that the Installment
provisions of this section shall be liable for a penalty Premiums received would have purchased at
which may extend to ten lakh rupees.” the actual age of the Life Assured.
3. Grace Period: iii) If the actual Age of the Life Assured is lower
than the declared Age and lower Installment
Any Installment Premium which is not received in full by
Premiums should have been charged per Our
the Premium Due Date may be paid in full during the
board approved underwriting policy, We will
Grace Period of 30 days for yearly, half yearly and
refund any excess premiums received, without
quarterly Premium frequencies and 15 days for monthly
any interest.
Premium frequency from the Premium Due Date. This
Policy will remain in force during the Grace Period. If the 5. Claims Procedures
Life Assured dies during the Grace Period, the Death Payment of Death Benefits
Benefit in accordance with the provisions of Part C above
a) The death of the Life Assured must be notified
shall be payable after deducting the due premium.
immediately to Us in writing.
4. Statement of Age
b) Affirmative proof of death and any appropriate
a) This Policy is issued at the Age shown in the Schedule documents as required by Us must be completed
which is the Life Assured’s declared Age as at the and furnished to Us, within 90 days from the date
Policy Commencement Date. In the event the of death of the Life Assured, unless specified
declared Age as at the Policy Commencement Date is otherwise. However, a notification of claim
found to be different from the actual age on the Policy received after 90 days may be accepted, if the
Commencement Date, without prejudice to Our claimant proves to Our satisfaction that there was
other rights and remedies, including those under the sufficient cause for not filing the claim within the
Insurance Act, 1938, one of the following actions may aforesaid period. The condonation of delay shall
be taken: be solely at Our discretion.
i) If the actual Age of the Life Assured is such c) The following documentation must necessarily be
that the Life Assured would not have been submitted to Us for Us to establish a death claim
eligible under this insurance product either on to Our satisfaction:
Policy Commencement Date or on date of i) Original Policy Document;
Death for insurance coverage, this Policy shall ii) Original death certificate;
be cancelled with effect from the Policy iii)Post mortem report / FIR, where applicable;
Commencement Date and the Installment iv) Claim forms duly completed as required by
Premium received shall be refunded after the Us;
deduction of the stamp duty charges and costs v) Certificate from physician/hospital last
incurred by Us on the medical examination of attended showing cause of death wherever
the Life Assured, if any. applicable;
ii) If the actual Age of the Life Assured is higher vi) Legal evidence of title of the claimant where
than the declared Age and higher Installment no valid nomination or assignment under this
Premiums should have been charged per Our Policy exists or in cases where the title is in
board approved underwriting policy, the dispute;
benefits payable under this Policy shall be
01568152 Page 28 of 34
vii) Proof of Age, if the Age has not been admitted (2) An insurer may, accept the transfer or assignment, or
earlier. decline to act upon any endorsement made under sub-section
d) We may, however, call for additional documents, (1) , where it has sufficient reason to believe that such transfer
if found necessary, in support of the claim. or assignment is not bonafide or is not in the interest of the
policy-holder or in public interest or is for the purpose of
6. The Policyholder's Rights
trading of insurance policy.
a) You are the policyholder of this Policy. Unless
(3) The insurer shall, before refusing to act upon the
provided otherwise in the terms of this Policy or
endorsement, record in writing the reasons for such refusal and
through the provisions of applicable Indian law, only
communicate the same to the policy-holder not later than thirty
You can, during the lifetime of the Life Assured,
days from the date of the policy-holder giving notice of such
exercise all rights, privileges and options provided
transfer or assignment.
under this Policy subject to any Nominee’s vested
interest or any assignee’s rights, if any. (4) Any person aggrieved by the decision of an insurer to
decline to act upon such transfer or assignment may within a
7. Suicide Exclusion
period of thirty days from the date of receipt of the
If the Life Assured’s death arises directly or indirectly communication from the insurer containing reasons for such
through or in consequence of suicide within 12 months refusal, prefer a claim to IRDAI.
: (5) Subject to the provisions in sub-section (2) ,the transfer or
i. from the date of commencement of the Policy , assignment shall be complete and effectual upon the execution
the nominee or beneficiary shall be entitled to of such endorsement or instrument duly attested but except
80% of the premiums paid, provided the Policy is ,where the transfer or assignment is in favour of the insurer
in force, or ,shall not be operative as against an insurer, and shall not
ii. from the date of revival of the Policy, the confer upon the transferee or assignee, or his legal
Nominee or beneficiary shall be entitled to an representative, any right to sue for the amount of such policy or
amount which is higher of 80% of premiums paid the moneys secured thereby until a notice in writing of the
till the date of death or the Surrender Value , if transfer or assignment and either the said endorsement or
any, as available on the date of death. instrument itself or a copy thereof certified to be correct by
both transferor and transferee or their duly authorized agents
8. Assignment and transfer of insurance policies
have been delivered to the insurer:
Please note the terms of Section 38 of the Insurance Act, Provided that where the insurer maintains one or more places
1938, as amended from time to time, which states as of business in India, such notice shall be delivered only at the
follows: place in where the policy is being serviced.
(1) A transfer or assign-ment of a policy of insurance, wholly or (6) The date on which the notice referred to in sub-section (5)
in part, whether with or without consideration, may be made is deli-vered to the insurer shall regulate the priority of all
only by an endorsement upon the policy itself or by a separate claims under a transfer or assignment as between persons
instrument, signed in either case by the transferor or by the interested in the policy; and where there is more than one
assignor or his duly authorised agent and attested by at least instrument of transfer or assignment, the priority of the claims
one witness, specifically setting forth the fact of transfer or under such instruments shall be governed by the order in which
assignment and the reasons thereof , the antecedents of the the notices referred to in sub-section (5) are delivered:
assignee and the terms on which the assignment is made.
01568152 Page 29 of 34
Provided that if any dispute as to the priority of payment (a) the proceeds under the policy shall become payable to
arises as between assignees, the dispute shall be referred to the policyholder or the nominee or nominees in the
the IRDAI. event of either the assignee or transferee predeceasing
(7) Upon the receipt of the notice referred to in sub-section (5), the insured ;or
the insurer shall record the fact of such transfer or assignment (b) The insured surviving the term of the policy, shall be
together with the date thereof and the name of the transferee valid:
or the assignee and shall, on the request of the person by Provided that a conditional assignee shall not be entitled to
whom the notice was given, or of the transferee or assignee, on obtain a loan on the policy or surrender a policy.
payment of such fee as may be specified by regulations , grant (11) In the case of the partial assignment or transfer of a
a written acknowledgment of the receipt of such notice; and policy of insurance under sub-section (1), the liability of the
any such acknowledgment shall be conclusive evidence against insurer shall be limited to the amount secured by partial
the insurer that he has duly received the notice to which such assignment or transfer and such policy-holder shall not be
acknowledgment relates. entitled to further assign or transfer the residual amount
(8) Subject to the terms and conditions of the transfer or payable under the same policy.
assignment, the insurer shall, from the date of the receipt of 9. Nomination by policyholder
the notice referred to in subsection (5), recognise the
transferee or assignee named in the notice as the absolute Please note the terms of Section 39 of the Insurance Act,
transferee or assignee entitled to benefit under the policy, and 1938, as amended from time to time, which states as
such person shall subject to all liabilities and equities to which follows:
the transferor or assignor was subject at the date of the (1) The holder of a policy of life insurance on his own life, may,
transfer or assignment and may institute any proceedings in when effecting the policy or at any time before the policy
relation to the policy, obtain a loan under the policy or matures for payment, nominate the person or persons to
surrender the policy without obtaining the consent of the whom the money secured by the policy shall be paid in the
transferor or assignor or making him a party to such event of his death:
proceedings. Provided that, where any nominee is a minor, it shall be
Explanation.- Except where the endorsement referred to in lawful for the policyholder to appoint any person in the manner
sub-section (1) expressly indicates that the assignment or laid down by the insurer, to receive the money secured by the
transfer is conditional in terms of subsection (10) hereunder, policy in the event of his death during the minority of the
every assignment or transfer shall be deemed to be an nominee.
absolute assignment or transfer and the assignee or transferee, (2) Any such nomination in order to be effectual shall, unless it
as the case may be, shall be deemed to be the absolute is incorporated in the text of the policy itself, be made by an
assignee or transferee respectively. endorsement on the policy communicated to the insurer and
(9) Any rights and remedies of an assignee or transferee of a registered by him in the records relating to the policy and any
policy of life insurance under an assignment or transfer such nomination may at any time before the policy matures for
effected prior to the commencement of the Insurance Laws payment be cancelled or changed by an endorsement or a
(Amendment) Act, 2015 shall not be affected by the provisions further endorsement or a will, as the case may be, but unless
of this section. notice in writing of any such cancellation or change has been
delivered to the insurer, the insurer shall not be liable for any
(10) Notwithstanding any law or custom having the force of
payment under the policy made bona fide by him to a nominee
law to the contrary, an assignment in favour of a person made
upon the condition that -
01568152 Page 30 of 34
mentioned in the text of the policy or registered in records of (7) Subject to the other provisions of this section, where the
the insurer. holder of a policy of insurance on his own life nominates his
(3) The insurer shall furnish to the policyholder a written parents , or his spouse ,or his children, or his spouse and
acknowledgment of having registered a nomination or a children ,or any of them , the nominee or nominees shall be
cancellation change thereof, and may charge a fee as may be beneficially entitled to the amount payable by the insurer to
specified by regulations for registering such cancellation or him or them under sub-section (6) unless it is proved that the
change. holder of the policy, having regard to the nature of his title to
the policy, could not have conferred any such beneficial title on
(4) A transfer or assignment of a policy made in accordance
the nominee.
with section 38 shall automatically cancel a nomination:
(8) Subject as aforesaid, where the nominee, or if there are
Provided that the assignment of a policy to the insurer who
more nominees than one , a nominee or nominees , to whom
bears the risks on the policy at the time of the assignment, in
sub-section (7) applies, die after the person whose life is
consideration of a loan granted by that insurer on the security
insured but before the amount secured by the policy is paid ,
of the policy within its surrender value, or its re--assignment on
the amount secured by the policy, or so much of the amount
repayment of the loan shall not cancel a nomination, but shall
secured by the policy as represents the share of the nominee
affect the rights of the nominee only to the extent of the
or nominees so dying (as the case may be), shall be payable to
insurer's interest in the policy:
the heirs or legal representatives of the nominee or nominees
Provided further that the transfer or assignment of a policy, or the holder of a succession certificate, as the case may be,
whether wholly or in part, in consideration of a loan advanced and they shall be beneficially entitled to such amount.
by the transferee or assignee to the policyholder, shall not
(9) Nothing in sub-sections (7) and (8) shall operate to destroy
cancel the nomination but shall affect the rights of the nominee
or impede the right of any creditor to be paid out of the
only to the extent of the interest of the transferee or assignee,
proceeds of any policy of life insurance.
as the case may be, in the policy:
(10) The provisions of sub-sections (7) and (8) shall apply to all
Provided also that the nomination, which has been
policies of life insurance maturing for payment after the
automatically cancelled consequent upon the transfer or
commencement of the Insurance Laws (Amendment) Act,
assignment. the same nomination shall stand automatically
2015.
revived when the policy is reassigned by the assignee or
retransferred by the transferee in favour of the policy-holder on (11) Where a policy-holder dies after the maturity of the policy
repayment of loan other than on a security of policy to the but the proceeds and benefit of his policy has not been made
insurer. to him because of his death, in such a case, his nominee shall
be entitled to the proceeds and benefit of his policy.
(5) Where the policy matures for payment during the lifetime
of the person whose life is insured or where the nominee or, if (12) The provisions of this section shall not apply to any policy
there are more nominees than one, all the nominees die before of life insurance to which section 6 of the Married Women's
the policy matures for payment, the amount secured by the Property Act, 1874 , applies or has at any time applied:
policy shall be payable to the policy-holder or his heirs or legal Provided that where a nomination made whether before or
representatives or the holder of a succession certificate, as the after the commencement of the Insurance Laws (Amendment)
case may be. Act, 2015, in favour of the wife of the person who has insured
(6) Where the nominee or if there are more nominees than his life or of his wife and children or any of them is expressed,
one, a nominee or nominees survive the person whose life is whether or not on the face of the policy, as being made under
insured, the amount secured by the policy shall be payable to this section, the said section 6 shall be deemed not to apply or
such survivor or survivors. not to have applied to the policy.
01568152 Page 31 of 34
10. Loss of Policy Document means of telecommunication, established by or on
Our behalf, for and in respect of this Policy or its
If the Policy Document is lost or misplaced, You should
terms, or Our other products and services, shall
submit to Us a written request stating the fact and the
constitute legally binding and valid transactions when
reason for the loss. If We are satisfied that the Policy
done in adherence to and in compliance with Our
Document is lost or misplaced, then, We will issue You a
terms and conditions for such facilities, as may be
duplicate Policy Document by charging an amount as
prescribed from time to time.
decided by Us from time to time. Upon the issue of the
duplicate Policy Document, the original Policy Document 14. Policy Currency
will automatically cease to have any validity with a) All amounts payable either to or by Us under this
immediate effect. Policy shall be in Indian Rupees only.
You agree to indemnify us and hold us free and harmless
from any costs, expenses, claims, awards or judgments
15. Address for Correspondence
arising out of or in relation to the original Policy
Document. a) Any notice, information, request or instruction to Us
must be in writing and delivered to the address
11. Restrictions on Travel, Residence &
intimated by Us to You, which is currently intimated
Occupation
to You as follows:
This Policy does not impose any restrictions on to travel, Chief - Operations
residence or occupation, unless specified otherwise in Future Generali India Life Insurance Co.
Part C of this Policy or under applicable Indian law. Ltd.
12. Governing Law & Jurisdiction Ground floor of Lodha i - Think techno
campus
a) This Policy shall be governed by and is subject to Indian A wing - 1 st floor, Pokhran Road -2
law. Off eastern express Highway
b)Any and all disputes arising under or in relation to this Behind TCSBldg.
Policy shall be subject to the jurisdiction of the Indian Thane (West)
courts. Thane 400607
c) The terms and conditions of this Policy, including the b) We may change the address stated above and intimate
premiums and benefits payable under this Policy are You of such change in writing.
subject to variation in accordance with directions of the c) Any notice, information or instruction from Us to You
IRDAI and the relevant provisions of Indian law. shall be mailed to Your address stated in the Schedule
or to the changed address as intimated by You to Us
13. Electronic Transactions
in writing.
a) You agree and confirm that all transactions effected by
d) Please communicate any change in Your address or
or through facilities for conduction of remote
any other communication details immediately, as it
transactions including the Internet, world wide web,
helps Us to reach to You faster. The correct address
electronic data interchange, call centers, teleservice
ensures that all our communications reach to you
operations (whether voice, video, data or combination
timely.
thereof) or by means of electronic, computer,
automated machines network or through other
01568152 Page 32 of 34
16. Applicable Taxes & Duties Behind TCS Bldg
The tax benefits on this Policy shall be as per the Thane (West)
prevailing tax laws in India and amendments thereto from Thane 400607
time to time. In respect of any payment made or to be Contact No: 1800 102 2355
made under this Policy, We will deduct or charge or Email: gro@futuregenerali.in
recover taxes, including Goods and Services Tax and c) In case Our decision/resolution of the grievance is
other levies, as applicable at such rates as notified by the not satisfactory the IRDAI (Insurance Regulatory
government or such other body authorised by the and Development Authority of India) through the
government from time to time. Tax laws are subject to Integrated Grievance Management System (IGMS)
change. may be approached on the following contact
PART G - Grievance Redressal Procedure & List of details.The IGMS provides a gateway for
Insurance Ombudsmen policyholders to register complaints with
insurance companies first and if required the same
1) In case of any grievance, please approach the following
can be escalated to the IRDAI Grievance Cell.
in the order given below:
IRDAI Grievance Call Centre (IGCC)
a) In the event of any complaint/grievance under this
CallCenter: TOLL FREE NUMBER (155255) for
Policy, a reference may be made to Our office at
voice calls
the following address giving the nature and full
Email ID: complaints@irda.gov.in
particulars of the grievance:-
A complaint may also be registered online at:
Grievance Redressal Department http://www.igms.irda.gov.in/
Future Generali India Life Insurance Address for communication for complaints by
Company Limited paper/fax:
Ground floor of Lodha i - Think techno campus, Consumer affairs Department,
A wing - 1st floor, Pokhran Road -2, Insurance Regulatory and Development Authority
Off eastern express Highway, of India,
Behind TCS Bldg 9th Floor, United Towers,
Thane (West) Basheerbagh,
Thane 400607 Hyderabad -500 029
Email ID:care@futuregenerali.in Fax 91 - 40 - 66789768
Our website: http://life.futuregenerali.in d) Insurance Ombudsman
b) In case the decision of the above office is not i) In case Our decision/resolution is not
satisfactory, or there is no response from the satisfactory, the Insurance Ombudsman
office within 10 days, the following official for Appointed under the provisions of Insurance
resolution of the grievance may be contacted:- Ombudsman Rules, 2017 may be approached
Grievance Redressal Officer if the grievance pertains to:
Future Generali India Life Insurance a) delay in settlement of claims, beyond the
Company Limited time specified in the regulations, framed
Ground floor of Lodha i - Think techno campus, under the Insurance Regulatory and
A wing - 1st floor, Pokhran Road -2, Development Authority of India Act, 1999;
Off eastern express Highway,
01568152 Page 33 of 34
b) any partial or total repudiation of claims by after the insurer received his
the life insurer, General insurer or the representation; or
health insurer ; iii) the complainant is not satisfied with the
c) disputes over premium paid or payable in reply given to him by the insurer;
terms of insurance policy; b) The complaint is made within one year-
d) misrepresentation of policy terms and i) after the order of the insurer rejecting
conditions at any time in the policy the representation is received; or
document or policy contract;
ii) after receipt of decision of the insurer
e) legal construction of insurance policies in which is not to the satisfaction of the
so far as the dispute relates to claim; complainant;
f) policy servicing related grievances against iii) after expiry of a period of one month
insurers and their agents and from the date of sending the written
intermediaries; representation to the insurer if the
g) issuance of life insurance policy, general insurer fails to furnish reply to the
insurance policy including health insurance complainant
policy which is not in conformity with the The Insurance Ombudsman is an organization that
proposal form submitted by the proposer; addresses grievances that are not settled to Your
h) non-issuance of insurance policy after satisfaction. The list of Insurance Ombudsmen offices is
receipt of premium in life insurance and provided as Annexure I to this Policy. Further, the list of
general insurance including health Insurance Ombudsmen offices is also available at the
insurance; and website below:
i) any other matter resulting from the http://www.ecoi.co.in
violation of provisions of the Insurance
Act, 1938 or the regulations ,circulars,
guidelines or instructions issued by the
IRDAI from time to time or the terms and
conditions of the policy contract, in so far
as they relate to issues mentioned at
clauses (a) to (f)
ii) Further, As per Rule 14(3) of the Insurance
Ombudsman Rules 2017, the complaint to the
Insurance Ombudsman can be made only if:
a) the complainant makes a written
representation to the insurer named in the
complaint and-
i) either the insurer had rejected the
complaint; or
ii) the complainant had not received any
reply within a period of one month
01568152 Page 34 of 34

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: 50179997 / 01568152 / K33 PART-A FORWARDING LETTER

Date : 25th November 2019

Future Generali Triple Anand Advantage

Dear MR ABHISHEK SENGUPTA

Future Generali India Life Insurance Company Limited

Future Planning Advisor/Intermediary/Employee

Future Generali India Life Insurance Company Limited

MR ABHISHEK SENGUPTA Receipt No. 15154489

WEST BENGAL, 700054

Dear MR ABHISHEK SENGUPTA,

The next Annual installment premium is due on 11/11/2020

Future Generali India Life Insurance Company Limited

** Balance in deposit till Rs 200 will be adjusted against future dues.

*** The rate of interest charged for backdation is 12% p.a.

Future Generali India Life Insurance Company Limited

Future Generali Triple Anand Advantage

Date of birth of Life 20/07/1979 Gender : Male

Future Generali India Life Insurance Company Limited

Policy & Rider Benefits

Future 11/11/2019 700,000.00 40 15

Future Generali India Life Insurance Company Limited

First Year Renewal Years

Future Generali India Life Insurance Company Limited

Digitally signed by S Mahesh

Future Generali India Life Insurance Company Limited

ii) “Special Surrender Value” means an

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