EXIDE LIFE LIFE PLUS

Transcription

1 IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER 1. Definitins and Interpretatin 1.1. Definitins EXIDE LIFE LIFE PLUS TERMS AND CONDITIONS In this Plicy, unless the cntext requires therwise, the fllwing wrds and expressins shall have the meaning ascribed t them respectively herein belw: Allcatin means alltment f Units under the varius Unit Linked Funds ffered under this Plicy; Benefits means the Death Benefit, Maturity Benefit, Surrender Benefit, Partial Withdrawal Benefit, Rider Benefit r any ther benefit, as the case may be, applicable in terms f this Plicy; Business Day means any day n which the Cmpany is pen in Bangalre t public fr transacting business and n which banks are generally pen in Mumbai t public fr transacting business; Charges means cllectively the Mrtality Charge, the Rider Premium Charge, the Premium Allcatin Charges, the Fund Management Charges, the Plicy Administratin Charges, the Switching Charges, the Surrender Charges, the Partial Withdrawal Charge, and Miscellaneus Charges, as set ut in Annex A heret and ther charges that may be levied by the Cmpany frm time t time under this Plicy with the apprval f the Regulatry Authrity; Death Benefit means the benefit payable by the Cmpany n the death f the Life Assured, which benefit is the higher f the (Sum Assured plus the Enhanced Prtectin Cver) r the Fund Value, as reduced by the Partial Withdrawals, if any, made during the twenty fur-(24) mnths perid immediately preceding the date f death f the Life Assured as prvided in Clause 3.4.1; Enhanced Prtectin Cver means the additinal cver f 5% f the Sum Assured fr every cmpleted plicy year, subject t the terms f this Plicy; Financial Year means a perid f twelve mnths cmmencing frm April 01 each year and ending with March 31 f the fllwing year; Fund Management Charges means the charges referred t as such in Annex A heret; Fund Value means the amunt represented by the number f Units multiplied by the respective Unit Price f the Units held under the varius Unit Linked Funds under this Plicy; Insurance Cver means the cver fr the Death Benefits and the Rider Benefits payable under this Plicy; Life Assured means the persn named as such in the Plicy Schedule, n whse life the Insurance Cver is effected in terms f this Plicy; UIN:114L029V0-1 - «CHDRNUM»

2 Maturity Benefit means the Fund Value n the Relevant Date payable t the Persn t whm Benefit payable under the Plicy; Miscellaneus Charges means the charge referred t as such in Annex A; Mrtality Charges means the charges referred t as such in Annex A heret; Net Asset Value f a Unit Linked Fund shall be calculated as fllws-. When the unit linked fund is a net purchaser f assets; The NAV shall be cmputed as: Market value f investment held by the fund plus the expenses incurred in the purchase f the assets plus the value f any current assets plus any accrued incme net f fund management charges less the value f any current liabilities and prvisins, if any. When the unit linked fund is a net seller f assets; The NAV shall be cmputed as: Market value f investment held by the fund less the expenses incurred in the sale f the assets plus the value f any current assets plus any accrued incme net f fund management charges less the value f any current liabilities and prvisins, if any. Nminee means the persn r persns appinted under Sectin 39 f the Insurance Act 1938 by the Life Assured, where he is the Plicyhlder, t receive the admissible Benefits, in the event f death f the Life Assured; Partial Withdrawal Benefit: means the benefit referred t as such in clause 3.4 belw; Partial Withdrawal Charge means the charges referred t as such in Annex A heret; Persn t whm Benefits payable means the Plicyhlder, including assignees under sectin 38 f the Insurance Act, 1938 r Nminees r prving executrs f administratin r ther legal representatives, as per the applicable Regulatins; Plicy means this EXIDE LIFE Life Plus; Plicy Administratin Charges means the charges referred t as such in Annex A heret; Plicy Maturity Date means the date specified as such in the Plicy Schedule; Plicy Year means a perid f twelve (12) cnsecutive mnths starting with the Date f Cmmencement f the Plicy as stated in the Plicy Schedule and ending n the day immediately preceding the fllwing anniversary date and each subsequent perid f twelve (12) cnsecutive mnths thereafter; Plicyhlder means the persn specified as such in the Plicy Schedule; Premium means cllectively the Regular Premium and the Tp-up Premium; Premium Allcatin Charges means the charges deductible frm the Regular Premium r the Tp-up Premium, as stated in Annex A heret; Premium Payment Term means the perid, expressed as the number f years, being the term fr which the Plicyhlder shall pay the Regular Premium under this Plicy, as specified in the Plicy Schedule; UIN:114L029V0-2 - «CHDRNUM»

3 Premium Redirectin means the facility allwing the Plicyhlder t mdify the Allcatin f the future Premium int a different investment pattern frm investment ptin exercised previusly; Regulatins means the laws and regulatins in effect frm time t time and applicable t this Plicy, including withut limitatin the regulatins and directins issued by the Regulatry Authrity frm time t time; Regular Premium means the premium specified as such in the Plicy Schedule; Regulatry Authrity means the Insurance Regulatry and Develpment Authrity r such ther authrity r authrities, as may be designated under the applicable laws and regulatins; Relevant Date means (i) (ii) (iii) (iv) (v) (vi) Fr the purpse f calculatin f the Death Benefits r in case f death f the Life Assured prir t the Risk Cmmencement Date, the date f receipt f written intimatin f death by the Natinal Operatins Office f the Cmpany, n any Business Day befre the Cut-ff time; Fr the purpse f calculatin f Maturity Benefit, the Plicy Maturity Date where the Plicyhlder has pted t receive the payment in lump sum n such date, r the date f payment f Maturity Benefit, where Maturity Benefit is payable n any ther date r in annual installments under the Settlement Optin; Fr the purpse f calculatin f the Surrender Benefits r the Partial Withdrawal Benefits r in case f Switches, the date f receipt f written ntice by the Natinal Operatins Office f the Cmpany n any Business Day befre the cut-ff time; The date f determinatin f the applicable Charges, in the case f deductin f the applicable Charges; The date f receipt f Premiums paid t the Cmpany by instruments/mdes ther than ECS, Standing Instructins r Aut debit fr the purpse f Premium Payments under this Plicy n a Business Day befre the Cut ff time; The date f realizatin f Premium by the Cmpany under this plicy, in case f payments made thrugh ECS, Standing Instructin, Aut Debit Instructin etc; Explanatin: Cut-ff time fr the purpse f this definitin means 3 pm n the relevant Business Day. Any request received after the Cut-Off time will be prcessed n the next fllwing Business Day. Rider means the rider, if any, issued by the Cmpany, attached t and frming part f this Plicy; Rider Benefits means the benefits payable under the Riders; Rider Premium Charge means the charges referred t as such in Annex A; Settlement Optin means the facility ffered t the Plicyhlder t receive the Maturity Benefits in installments as stated in Clause 3.8 heref; Sum Assured means the sum assured as mentined in the Plicy Schedule, r such amunt as may be endrsed n the Plicy; Surrender means the terminatin f the cntract in its entirety at the instance f the Plicyhlder; Surrender Benefit means the benefit referred t as such in clause 3.3 belw; UIN:114L029V0-3 - «CHDRNUM»

4 Surrender Charges means the charges referred t as such in Annex A heret; Switches means the facility f allwing the Plicyhlder t change the investment pattern by mving frm ne r mre Unit Linked Fund t the ther Unit Linked Funds under this Plicy; Switching Charges means the charges referred t as such in Annex A heret; Tp-up Premium means any amunt paid by the Plicyhlder in additin t the Regular Premium; Units means the interest f the Plicyhlder in the Unit Linked Fund, which cnsists f each unit representing ne undivided share in the assets f the relevant Unit Linked Fund; Unit Linked Fund means specific and separate investment funds established, ffered, perated and maintained by the Cmpany, in terms f Clause 10 belw. The Unit Linked Fund pls tgether the Premiums paid by the plicyhlder and invests the same in the prtfli assets t achieve the fund(s) bjective; Unit Price means the price f the Units f each Unit Linked Fund arrived at by dividing the Net Asset Value f the Unit Linked Fund by the ttal number f utstanding units in the Unit Linked Fund; Unit Statement f Accunt means the statement referred t in Clause 8.2 belw; 1.2. Interpretatin This Plicy is divided int numbered clauses fr ease f reference and reading. Except as stated, these divisins and the crrespnding clause headings d nt limit the Plicy r its interpretatin in any way. Wrds f ne gender shall include the ther gender and the singular shall include the plural and vice versa, unless the cntext therwise requires This Plicy cmprises f the terms and cnditins set frth in this Plicy dcument, the Plicy Schedule and the Annexures referred t herein, which shall frm an integral part f this Plicy. 2. Exide Life Life Plus Subject t the prvisins and fulfillment f the cnditins f this Plicy, the Cmpany agrees t pay t the Persn t whm the Benefits payable, the Benefits n the happening f the events in respect f which such persn shall have furnished prf f happening f the event t the satisfactin f the Cmpany, whereupn the Benefits are expressed t be payable. 3. Benefits 3.1 Death Benefit Subject t the terms and cnditins f this Plicy and the Plicy remaining in full frce and effect n the date f death f the Life Assured, in the event f death f the Life Assured after the Risk Cmmencement Date but befre the Plicy Maturity Date, the Cmpany shall pay Death Benefit t the Persn t Whm Benefits payable as n the Relevant Date. In case f death f the Life Assured prir t the Risk Cmmencement Date, the Cmpany s liability will be limited t payment f the Fund Value as n the Relevant Date. UIN:114L029V0-4 - «CHDRNUM»

5 3.1.1 Risk Cmmencement Date in certain cases: Where the Life Assured is less than twelve (12) years f age at the Plicy Cmmencement Date, the risk cver under this Plicy will cmmence at the end f 2 years frm the Plicy Cmmencement Date. 3.2 Maturity Benefits In the event the Life Assured survives the Plicy Maturity Date, the Cmpany shall pay the Fund Value as at the Relevant Date fr Plicy Maturity, as per the Settlement Optin specified in Clause Surrender Benefit Surrender Benefit: At any time after cmpletin f three Plicy Years, the Plicyhlder may surrender this Plicy by giving ntice in writing t the Cmpany. Upn Surrender f the Plicy, the Cmpany shall pay the Fund Value, as reduced by the Surrender Charges. On such payment, the Plicy shall terminate frthwith and the Cmpany will be relieved and discharged frm all bligatins thereafter. N Surrender Benefits are payable if less than 1 full year s premium have been paid. 3.4 Partial Withdrawal Benefit At any time after cmpletin f Five (5) Plicy Years, the Plicyhlder may avail ne Partial Withdrawal Benefit every plicy year nt exceeding 25% f the Fund Value, prvided the Fund Value after availing the Partial Withdrawal Benefit is nt less than 1.5 times the annualized Regular Premium r such ther amunt as may be specified by the Cmpany, with the apprval f the Regulatry Authrity. The Cmpany shall pay the Partial Withdrawal Benefit amunt, after deducting the Partial Withdrawal Charge, by cancellatin f Units f equivalent amunt. In case f death f the Life Assured after availing Partial Withdrawal Benefit, the Sum Assured under this Plicy shall be reduced t the extent f the Partial Withdrawal Benefits availed frm the Fund Value built up n accunt f Regular Premium, during the 24 mnths immediately preceding the date f death f the Life Assured Partial Withdrawal Benefit, in case f Tp-up Premiums, can be availed nly after cmpletin f three years frm the date f payment f the respective installment f the Tp-up Premium. Hwever this lck in perid f 3 years shall nt apply in cases f tp up premiums paid during the last three plicy years Partial Withdrawal Benefit shall nt be allwed in case where the Life Assured is a minr until the Life Assured attains the age f majrity. 3.5 Requirements fr maturity claims and death claims In the event f a claim fr Maturity Benefit r Death Benefit arising under this Plicy, the Persn t whm Benefits payable shall endeavur t intimate t the Cmpany in writing f the claim and prvide the fllwing dcuments t the Cmpany within 60 days f the claim arising, t enable the Cmpany t prcess the claim: In case f claim fr Maturity Benefit (i) (ii) Plicy dcument, in riginal; and Discharge Frm In case f Claim fr Death Benefit arising ut f accidents r unnatural deaths (i) Plicy dcument, in riginal; UIN:114L029V0-5 - «CHDRNUM»

6 (ii) (iii) (iv) Death Certificate, in riginal, issued by the cmpetent authrity; Cpies f the First Infrmatin Reprt and the Final Investigatin Reprt theref, duly attested by the cncerned plice fficials; and Cpy f pst-mrtem reprt duly attested by the cncerned fficials In case f claim fr Death Benefit arising ther than ut f accidents r unnatural deaths (i) (ii) (iii) Plicy dcument in riginal; Death Certificate, in riginal, issued by the cmpetent authrity; and Hspitalizatin dcuments (discharge summary alng with all investigatin reprts) if Life Assured has taken treatment fr illness leading t his death Ntwithstanding anything cntained in Clause abve, depending upn the cause r nature f the claim, the Cmpany reserves the right t call fr ther and/r additinal dcuments r infrmatin, including dcuments/infrmatin cncerning the title f the persn claiming Benefits under this Plicy, t the satisfactin f the Cmpany, fr prcessing f the claim. 3.6 Mde f payment f Benefits All Benefits and ther sums under this Plicy shall be payable in the manner and currency allwed/permitted under the Regulatins The Cmpany shall pay the applicable Benefits and ther sums payable under this Plicy at the Custmer Services Centre at the Cmpany s Natinal Operatins Office in Bangalre. Any discharge given by the Persn t whm Benefits payable, r by any persn authrized by the Persn t whm Benefits payable in writing in respect f the Benefits r the sums payable under this Plicy shall cnstitute a valid discharge t the Cmpany in respect f such payment. The Cmpany s liability under the Plicy shall be discharged by such payment and the Cmpany shall nt be required t see the applicatin f the mnies s paid. 3.7 Cancellatin f Units. Subject t the prvisins f Clause 3.5 abve, the Benefits under this Plicy shall be settled by cancellatin f required number f Units frm the respective Unit Linked Fund(s) n the applicable Relevant Date. In case there are mre than ne Unit Linked Funds, the cancellatin f Units will be effected, in the same prprtin as the aggregate value f the Units held in each Unit Linked Fund, unless specified therwise by the Plicyhlder and accepted by the Cmpany. 3.8 Settlement Optin. The Plicyhlder may receive the Maturity Benefit either as a lump sum payment r in three r five annual installments, at any time n r after the Plicy Maturity Date, subject t levy f Fund Management Charge and Plicy Administratin Charge, as specified in Annex-A. All risks inherent in receiving the Maturity Benefit in installments will be brne by the Plicyhlder. The Plicyhlder shall nt have the ptin f partial withdrawals r switches during the settlement perid. 4. Regular Premium 4.1 Payment f Regular Premium. The Plicyhlder shall pay t the Cmpany the Regular Premium in such frequency and n r befre the due date specified in the Plicy Schedule, t secure the Benefits, referred t in Clause 3 abve. If any Regular Premium is received befre the due date, the Cmpany may keep such amunt in suspense accunt and adjust such sum twards Regular Premium n the applicable due date. It is clarified that the Mrtality Charge shall be applicable even after expiratin f the Regular Premium Payment Term stated in the Plicy Schedule and shall be deducted in the manner set frth in Annex A heret. UIN:114L029V0-6 - «CHDRNUM»

7 4.2 Discntinuance f Regular Premium after paying the Regular Premium due fr at least three cnsecutive years. If the payment f the Regular Premium is discntinued, after paying the Regular Premium fr at least three cnsecutive years, the Insurance Cver under the Plicy will cntinue, subject t levying the applicable Mrtality Charges, Plicy Administratin Charges, Fund Management Charges and Rider Premium Charges if any, frm the Fund Value. Such autmatic cntinuatin f the Plicy will cease: (i) (ii) if the Fund Value falls t r equals ne full year s Regular Premium, r n expiry f 2 years frm the due date f the first unpaid Premium if such unpaid premiums have nt been paid t the Cmpany during the said perid f 2 years whichever is earlier. In such an event, the Plicy shall terminate and the Cmpany shall pay the Surrender Value t the Plicyhlder. 4.3 Discntinuance f Regular Premium within three years f the Plicy Cmmencement Date. If payment f the Regular Premium is discntinued befre cmpletin f three years frm the Plicy Cmmencement Date, the Insurance Cver shall cease with immediate effect, if the Regular Premium is nt received within 30 days f the due date fr payment, and the Plicy in such case wuld cntinue withut Insurance Cver, with deductin by the Cmpany f Charges ther than Mrtality Charges and Rider Premium Charges if any frm the Fund Value. Where premiums have been discntinued within three years f Plicy Cmmencement Date as mentined in this Clause and death f the Life Assured ccurs during such perid, the Cmpany s liability under this Plicy shall be limited t payment f Fund Value. The Plicyhlder may at any time within 2 years frm the date f cessatin f the Insurance Cver, apply t the Cmpany fr reinstatement f the Insurance Cver, and the Cmpany may at its discretin, and subject t fulfillment f the cnditins set frth in clause 5 belw, allw reinstatement f the Insurance Cver. Unless the Insurance Cver is s reinstated within 2 years, the Plicy shall terminate at the end f such perid r at the end f the 3 rd plicy year whichever is later and the Cmpany shall pay the Surrender Value, if any. 4.4 Terminatin. In the event the Fund Value is insufficient t pay the Charges, the Cmpany may terminate the Plicy frthwith. 4.5 Ntwithstanding anything cntained abve, if the payment f premium is discntinued in any Plicy year, the Enhanced Prtectin Cver will cease frm the date f such discntinuance. 5. Reinstatement f Insurance Cver 5.1 Subject t the apprval f the Cmpany and the prevailing rules f the Cmpany, the Insurance Cver under this Plicy, may be reinstated befre the Plicy Maturity Date but within tw years frm the due date fr payment f the first unpaid Regular Premium r prir t terminatin f the Plicy in terms f clause 4.2 abve, prvided, (i) (ii) (iii) (iv) this Plicy has nt been surrendered fr cash; and n claim has arisen under the Plicy; and where required by the Cmpany, a written applicatin fr reinstatement is received frm the Plicyhlder by the Cmpany, tgether with evidence f insurability and health f the Life Assured, t the satisfactin f the Cmpany; and all the Regular Premiums in arrears and ther sums necessary t reinstate this Plicy are received by the Cmpany. 5.2 Ntwithstanding anything t the cntrary cntained elsewhere in this Plicy, the Cmpany reserves the right t reinstate the Insurance Cver under this Plicy either n its riginal terms UIN:114L029V0-7 - «CHDRNUM»

8 and cnditins r n such ther r mdified terms and cnditins as the Cmpany may, specify, r t reject the reinstatement. 5.3 Subject t the prvisins f Clause 5.1 abve, the reinstatement shall cme int effect n the date when the Cmpany specifically cmmunicates it in writing t the Plicyhlder. Since the Cmpany shall be relying n the statements made by the Plicyhlder/Life Assured t the Cmpany and t its medical examiner in deciding n reinstatement f Insurance Cver, if any incrrect r untrue statement has been made r any material fact has been suppressed, the Cmpany shall be entitled t cancel the reinstatement f the Insurance Cver r repudiate the claim, if any, arising after such reinstatement and the amunts received under this Plicy including the amunts paid twards such reinstatement, shall be liable t be frfeited, at the ptin f the Cmpany. 5.4 On the reinstatement f the Insurance Cver by the Cmpany as mentined in clause 5, the Enhanced Prtectin Cver, shall als be reinstated frm the date f the first unpaid premium. 6. Frfeiture. In issuing this Plicy, the Cmpany has relied n, and may rely n, accuracy and cmpleteness f the infrmatin prvided by the Prpser /Life Assured and any ther declaratins r statements made r as may be made hereafter, by the Plicyhlder/Life Assured. Subject t the prvisins f the applicable Regulatins including Sectin 45 f the Insurance Act, 1938, in the event any such infrmatin, declaratin r statement is fund t be false r incrrect r any material infrmatin is fund t be withheld r misrepresented, the Plicy shall becme null and vid frm cmmencement, and the Cmpany shall cease t be liable fr any Benefits under this Plicy. In such a case, the Cmpany may, frfeit the amunts received under this Plicy. 7. Tp-up Premium. Subject t the payment f all Regular Premiums due in terms f this Plicy and n Regular Premium remaining in arrears the Plicyhlder shall have the ptin t pay ne r mre Tp-up Premiums, subject t a minimum f Rs. 2,000/- r such ther amunt fixed by the Cmpany, with the apprval f the Regulatry Authrity and further subject t a maximum f 25 percent f the ttal Regular Premiums received n the Plicy. The Tp-up Premium, as reduced by the applicable Premium Allcatin Charges, shall be invested in the Unit Linked Fund(s) ffered by the Cmpany and chsen by the Plicyhlder. The Cmpany clarifies that payment f Tp-up Premiums may impact the tax benefits available t the Plicyhlder. 8. Fund Value and Unit Statement f Accunt 8.1 Fund Value. Fr the purpse f this Plicy, the Cmpany will maintain an accunt called the Fund Value, t which the Regular Premium and the Tp-up Premiums received frm the Plicyhlder under this Plicy shall be credited, net f Premium Allcatin Charges as prvided fr in Annex A heret. The amunt s credited shall be utilized fr purchase f Units in the Unit Linked Funds ffered by the Cmpany and chsen by the Plicyhlder Unit Statement f Accunt. The Cmpany shall issue t the Plicyhlder, a Unit Statement f Accunt shwing the details f Units held and particulars f credits and debits in respect f the Fund Value n every Plicy Anniversary as well as whenever a transactin in the nature f receipt f Premium, Switch, Partial Withdrawal r payment f Benefits, takes place. 9. Charges 9.1 The Cmpany may levy the Mrtality Charges, Premium Allcatin Charges, Fund Management Charges, Plicy Administratin Charges, Switching Charges, Surrender Charges, Partial Withdrawal Charges, Rider Premium Charges and Miscellaneus Charges as prvided in Annexure-A f this Plicy. UIN:114L029V0-8 - «CHDRNUM»

9 10. Unit Linked Funds 10.1 Unit Linked Funds. The Cmpany may frm time t time, with the apprval f the Regulatry Authrity, establish Unit Linked Fund(s) and ffer such Unit Linked Fund (s) t the Plicyhlder. The Unit Linked Fund(s) ffered by the Cmpany at present and the investment bjectives and the indicative prtfli allcatins f the Unit Linked Fund(s) are as fllws: Debt Fund: The investment bjective f this Fund is t prvide security and mderate grwth 100% f the available funds will be invested in debt and debt related instruments Secure Fund: The investment bjective f this Fund is t invest in a mixture f bnds and equity prviding reasnable security and pprtunity fr grwth. A minimum f 10% and up t a maximum f 20% f the available funds wuld be invested in equity and equity related instruments including prperty and prperty related instruments, and the balance in debt securities and debt related instruments Balanced Fund: The investment bjective f this Fund is t prvide higher grwth with reasnable security. A minimum f 20% f the available funds and up t a maximum f 40% f the available funds wuld be invested in equity and equity related instruments including prperty and prperty related instruments and the balance in debt securities and debt related instruments Grwth Fund: The investment bjective f this Fund is t prvide high grwth pprtunities. A minimum f 40% f the available funds and up t a maximum f 60% f the available funds wuld be invested in equity and equity related instruments including prperty and prperty related instruments and the balance in debt securities and debt related instruments Equity Fund: The bjective f this Fund is t maximize grwth thrugh investments in a prtfli f equities. A minimum f 90% and upt maximum f 100% f the available funds will be invested in equities r equity related instruments including prperty r prperty related instruments and the balance in debt and debt related instruments The Plicyhlder will have an ptin t redirect the future allcatin f the net amunt f premiums available fr investment amngst ne r mre Unit Linked Funds. The Plicyhlder may als switch the Fund Value represented in any Unit Linked Fund amngst ne r mre Unit Linked Fund(s) Subject t investment nrms and plicies f the Cmpany in effect frm time t time and applicable Regulatins, the Cmpany shall have full freedm t select the investments and/r make the investments under each Unit Linked Fund, having regard t the investment bjectives f the respective Unit Linked Fund. Subject as afresaid, the Cmpany shall have abslute discretin t frmulate its investment plicies and make investments and t deal with all matters in relatin t Unit Linked Fund. The Cmpany shall have abslute legal and beneficial wnership f all investments and assets f the Unit Linked Fund (s) The Cmpany may, at its discretin, with the apprval f the Regulatry Authrity, clse r discntinue any Unit Linked Fund n the happening f an event, which, in the pinin f the Cmpany, requires the Unit Linked Fund t be clsed r discntinued. In the event the Cmpany decides t clse r discntinue any Unit Linked Fund, the Cmpany shall give at least three mnths prir written ntice t Plicyhlder. In such an event, if the Plicyhlder des nt switch the Units t anther Unit Linked Fund prir t the expiratin f the afresaid ntice perid, the Cmpany may, at its discretin, at any time thereafter, switch the Units t anther Unit Linked Fund (s). The Cmpany s decisin in selecting the Unit Linked Fund (s) shall be final and binding. UIN:114L029V0-9 - «CHDRNUM»

10 In such cases, the Cmpany shall nt levy any penalty r Switching Charges fr such switch t anther Unit Linked Fund (s) The Cmpany may, at its discretin, with the apprval f the Regulatry Authrity and with prir ntice f 30 days t the Plicyhlder, mdify the prprtins f available funds t be invested in bnds and equity/ prperty in respect f any f the abve Unit Linked Fund, depending upn the prevailing and expected investment envirnment and the applicable Regulatins Risk Factrs. This Plicy is issued n the express understanding that the investments are subject t the fllwing risks amng thers and the Plicyhlder has pted fr this Plicy with full knwledge f such risks The names f the Unit Linked Funds d nt in any manner indicate the quality f the Unit Linked Funds r their future prspects r returns. The Unit Linked Funds d nt ffer any guarantee r assure any guaranteed return; Investments in Units are subject t market and ther risks. Investment risk in investment prtfli is brne by the Plicyhlder. There is n assurance that the bjects f the Unit Linked Funds will be achieved; The Unit Price f the Units may fluctuate depending n factrs and frces affecting the capital markets and the level f interest rates prevailing in the market; Past perfrmance f the Unit Linked Fund and ther plans f the Cmpany are nt indicative f future perfrmance f any f these Funds All benefits payable under this Plicy are subject t tax laws and ther fiscal enactments in effect frm time t time The Cmpany reserves the right t suspend the allcatin, reallcatin, cancellatin and/r switching f Units under extrardinary circumstances such as extreme vlatility f assets, extended suspensin f trading n stck exchange and/r under frce majeure circumstances such as natural calamities/disasters, war, rits and ther similar events which are beynd the cntrl f the Cmpany. The right f the cmpany t suspend the allcatin, reallcatin, cancellatin and/r switching f Units under circumstances stated abve shall nt exceed 30 days frm the date f such event. Hwever if the situatin warrants suspensin f allcatin, reallcatin, cancellatin and/r switching f Units beynd 30 days the Cmpany shall d s with the prir apprval f the Regulatry Authrity. 11. Units The Units shall have a nminal value f Rs. 10/- each. The Units shall be allcated in the manner set frth hereinafter and such allcatin may be made up t five decimal places f a Unit. The Unit Price shall be cmputed t fur decimal pints. The Unit Price will be declared as sn as may be pssible after clse f every Business Day and the Unit Price s declared shall apply till the next Unit Price is declared. The Unit Price will be published n the website f the Cmpany n a daily basis Allcatin f Units. The Units in an existing and perating Unit Linked Fund will be allcated n the Relevant Date f receipt f Premium, r after receipt f cmplete infrmatin required fr allcatin f Units by the Cmpany in terms f this Plicy, r n the Plicy Cmmencement Date, whichever ccurs later. Allcatin f Units against subsequent Premiums including Tp up Premiums, shall be made UIN:114L029V «CHDRNUM»

11 after receipt f the duly filled in Tp Up frm alngwith payment f the Tp-Up Premium, n the applicable Relevant Date Partial Withdrawal, Surrender and Switching f Units. The Cmpany shall make all transactins in Units such as Switching, Partial Withdrawals and Surrender n the applicable Relevant Date All requests fr Partial Withdrawals, Surrenders, Switching f Units, payment f Tp-Ups and all intimatins pertaining t claim f Benefits shall be in writing, submitted t the Cmpany s Custmer Service Centre at its Natinal Operatins Office in Bangalre and shall take effect n the Relevant Date Valuatin f Unit Linked Funds. The Unit Price shall be cmputed t fur decimal places and the calculatin f the Cmpany in this regard is final and binding fr all purpses except in case f manifest errr. The valuatin f assets f the Unit Linked Funds shall be made as per the applicable Regulatins and valuatin nrms f the Cmpany in effect frm time t time Recvery f Charges. All the Charges, ther than the Fund Management Charges and the Premium Allcatin Charges, shall be recvered by cancellatin f required number f Units frm the respective Unit Linked Funds n the Relevant Date. In case there are mre than ne Unit Linked Funds, the cancellatin f Units will be effected, t the extent feasible, in the same prprtin as the aggregate value f the Units held in each Unit Linked Fund. Fund Management Charges shall be recvered befre arriving at the Unit Price. Allcatin Charges shall be recvered by deductin frm the amunt f the Regular Premium r Tp-up Premium received, as the case may be. Switching Charges will be charged t the surce Unit Linked Fund frm which the Units are switched and shall be recvered by cancellatin f required number f Units frm the respective Unit Linked Funds. 12. Age Admissin. The age f the Life Assured has been admitted n the basis f the declaratin made by the Plicyhlder / Life Assured in the Prpsal and/r in any statement based n which this Plicy has been issued. If the age f the Life Assured is fund t be different frm that declared, the Cmpany may, adjust the Premiums and/r the Benefits under this Plicy and/r recver the applicable balance amunts, if any, as it deems fit. This Plicy shall hwever becme vid frm cmmencement, if the age f the Life Assured at the Plicy Cmmencement Date is fund t be higher than the maximum r lwer than the minimum entry age that was permissible under the plan f this Plicy at the time f its issue and the amunts received under this Plicy shall be liable t be frfeited, at the ptin f the Cmpany. In case the age f the Life Assured has nt been admitted and subsequently the age f the Life Assured is fund t be nt acceptable as per the prduct specificatins, the plicy shall terminate and the plicyhlder shall be paid the Fund Value less Surrender Charges. 13. Assignment and Nminatin. Ntice f any assignment r nminatin must be submitted in writing t the Cmpany at its ffice issuing this Plicy r at the ffice servicing this Plicy as cmmunicated t the Plicyhlder frm time t time Assignment. An assignment f the Plicy may be made by an endrsement upn the Plicy itself r by a separate instrument signed in either case by the assignr specifically stating the fact f assignment and duly attested. Only the Plicyhlder may make the first assignment. Such assignment shall be effective, as against the Cmpany, frm and upn the service f a written ntice upn the Cmpany and the Cmpany recrding the assignment in its bks. In case f assignment under this Plicy, the assignee wuld nt be entitled t increase the Death Benefit r Rider Benefits. In registering an assignment, the Cmpany des nt accept any respnsibility r express any pinin as t its validity r legal effect. UIN:114L029V «CHDRNUM»

12 13.2. Nminatin. The Life Assured, where he is the Plicyhlder, may, at any time during the currency f this Plicy, make a nminatin fr the purpse f payment f Benefits in the event f his death. Where the Nminee is a minr, the Plicyhlder may als appint a persn t receive the mney during the minrity f the Nminee. Nminatin may be made by an endrsement n the Plicy and by cmmunicating the same in writing t the Cmpany. Any change f nminatin, which may be effected befre the terminatin f the Plicy shall als be cmmunicated t the Cmpany. In registering a nminatin, the Cmpany des nt accept any respnsibility r express any pinin as t its validity r legal effect. 14. General Cnditins 14.1 N Participatin in surplus r prfits. This Plicy des nt cnfer any rights n the Plicyhlder t participate in surplus r prfits f the Cmpany Review, revisin. The Cmpany reserves the right t review, revise, delete and/ r alter any f the terms and cnditins f this Plicy, including withut limitatin the Benefits, the Charges ther than thse charges which are specifically stated t remain unchanged in this Plicy, the methd, manner and timing f levy r recvery f the Charges r valuatin f the investments and / r assets f the Unit Linked Funds and / r determinatin f the Unit Price, with the apprval f the Regulatry Authrity Suicide. If the Life Assured cmmits suicide fr any reasn, while sane r insane, within ne year frm the Risk Cmmencement Date as specified in the Plicy Schedule r within ne year frm the date f reinstatement f the Insurance Cver under this Plicy as the case may be, in terms f clause 5 abve, this Plicy shall be treated as null and vid, and n regular Benefit shall be payable under this Plicy. Hwever the Plicy hlder shall be entitled t refund f the Fund Value Lans. N lan will be admissible under this Plicy Lien. If the age at entry f the Life Assured is 12 and abve n the Plicy Cmmencement Date, the Cmpany shall have a lien ver all the Benefits payable under this Plicy during the initial perid f six mnths frm the Risk Cmmencement Date. In case f death f the Life Assured during this initial perid, n regular Benefits shall be payable t the Plicyhlder and/r nminee/beneficiaries and the Fund Value shall be paid by the Cmpany Plicy n the Life f the Minr. If the Plicy is issued n the life f a minr, the Plicy will vest in him autmatically n his attainment f age f majrity if s pted by the Plicyhlder in the prpsal and n such vesting, the Cmpany will recgnize him t be the hlder f the Plicy Life Assured being minr: In case the Life Assured is a minr, N Rider Benefits wuld be admissible. 15. GENERAL PROVISIONS 15.1 Release and discharge. The Plicy will terminate autmatically n payment f the Death Benefits r the Maturity Benefits r the Surrender Benefit, as the case may be, and the Cmpany will be relieved and discharged frm all bligatins under this Plicy thereafter Limitatin f Liability. Except in the case f a claim fr Death Benefit, the maximum liability f the Cmpany under this Plicy shall nt, in any circumstances, exceed the Fund Value. The maximum liability f the Cmpany under this Plicy shall nt, in any circumstances, exceed the aggregate amunt f the relevant Benefits payable hereunder. UIN:114L029V «CHDRNUM»

13 15.3 Grievance Redressal /Cmplaints. Any grievance r cmplaints t the Cmpany must be made in writing and delivered t the address intimated by the Cmpany t the Plicyhlder, which is currently: Cmplaints Officer Exide Life Insurance Cmpany Limited 690, 1st Flr, Gld Hill Square, Opp Oxfrd University Cllege, Begur Hbli, Hsur Rad, Bangalre cmplaintscell@exidelife.in Tll Free Number Tel N: Fax N: Taxes, duties and levies and disclsure f infrmatin This Plicy, and the Benefits and the surrender value payable under this Plicy shall be subject t the Regulatins, including taxatin laws in effect frm time t time. All taxes, duties, levies r impsts including withut limitatin any sale, use, value added, service r ther taxes (cllectively Taxes ) as may be impsed nw r in future by any authrity (cllectively Taxes ) n the Premiums and ther sums payable t the Cmpany r the Cmpany s bligatins under the Plicy r the Benefits payable under the Plicy r in any way relating t this Plicy, shall be brne and paid by the Plicyhlder r the Persn t whm Benefits payable, as the case may be. The Premium and ther sums payable under r in relatin t the Plicy d nt include the Taxes. If, hwever, the applicable law impses such Taxes n the Cmpany, then the Cmpany shall have the right t recver the same frm the Plicyhlder r the Persn t whm Benefits payable The persns receiving the Benefits shall be slely liable fr cmplying with all the applicable prvisins f the Regulatins, including taxatin laws, and payment f all applicable Taxes. Except as therwise required by law, the Cmpany shall nt be respnsible fr any Tax liability arising in relatin t this Plicy r the Benefits payable in terms f this Plicy. In any case where the Cmpany is bliged t accunt t the revenue authrities fr any Taxes applicable t this Plicy r the Benefits payable under this Plicy, the Cmpany shall be entitled t deduct such Taxes frm any sum payable under this Plicy, and depsit the amunt s deducted with the apprpriate gvernmental r regulatry authrities In any case where the Cmpany is bliged t disclse t the revenue r ther regulatry authrities any infrmatin cncerning the Plicy, including infrmatin cncerning the Premium and the Benefits under this Plicy, the Cmpany shall be entitled t disclse the required infrmatin t the apprpriate gvernmental r regulatry authrities It shall be the respnsibility f the Plicyhlder t satisfy himself and ensure that the payment f the Tp-up Premium des nt adversely affect his entitlement r claim fr tax benefits, if any, available r admissible under this Plicy Ntice by the Cmpany under the Plicy. Any f the ntices required t be issued in terms f this Plicy may be issued, either by issuing individual ntices t the Plicyhlder, including by electrnic mail and/r facsimile, r by issuing a general ntice, including by publishing such ntices in newspapers and/r n the Cmpany s website. UIN:114L029V «CHDRNUM»

14 15.7 Entire Cntract. This Plicy cmprises the terms and cnditins set frth in this Plicy dcument, the Plicy Schedule, the terms and cnditins set frth in the Riders, if any, applicable t this Plicy and the endrsements, if any, made n r applicable t this Plicy, which shall frm an integral part and the entire cntract, evidenced by this Plicy. The liability f the Cmpany is at all times subject t the terms and cnditins f this Plicy and the endrsements made frm time t time. In the event f any incnsistency between the terms and cnditins set frth in this Plicy dcument and the terms and cnditins set frth in the Riders t this Plicy, the terms and cnditins set frth in this Plicy shall prevail Gverning Law and Jurisdictin This Plicy shall be gverned by and interpreted in accrdance with the laws f India. All actins, suits and prceedings under this Plicy shall be subject t the exclusive jurisdictin f the curts f law within whse territrial jurisdictin the registered ffice f the Cmpany is situated N actin in law r equity shall be brught against the Cmpany t enfrce any claim under this Plicy, unless the Plicyhlder has filed with the Cmpany a claim tgether with all the required dcuments, in accrdance with the requirements f this Plicy and cmplied with the requirements f the Cmpany, at least 60 days prir t the institutin f such actin. Plicyhlder s attentin is invited t Sectin 45 f the Insurance Act, 1938, which is reprduced belw fr reference: Sectin 45. Plicy nt t be called in questin n grund f mis-statement after tw years N plicy f life insurance effected befre the cmmencement f this Act shall, after the expiry f tw years frm the date f cmmencement f this Act and n plicy f life insurance effected after the cming int frce f this Act shall, after the expiry f tw years frm the date n which it was effected, be called in questin by an insurer n the grund that a statement made in the prpsal fr insurance r in any reprt f a medical fficer, r referee, r friend f the insured, r in any ther dcument leading t the issue f the plicy, was inaccurate r false, unless the insurer shws that such statement was n a material matter r suppressed facts which it was material t disclse and that it was fraudulently made by the plicy-hlder and that the plicy-hlder knew at the time f making it that the statement was false r that it suppressed facts which it was material t disclse: PROVIDED that nthing in this sectin shall prevent the insurer frm calling fr prf f age at any time if he is entitled t d s, and n plicy shall be deemed t be called in questin merely because the terms f the plicy are adjusted n subsequent prf that the age f the life insured was incrrectly stated in the prpsal. UIN:114L029V «CHDRNUM»

15 ANNEXURE - A: CHARGES (Frming part f Unit Linked Plicy N. ) The Charges in effect as f the Date f Cmmencement f this Plicy are as fllws: A.1. Mrtality Charge: Mrtality Charge is the charge levied at the beginning f each plicy mnth, fr prviding the Death Benefit. The Cmpany may determine the Mrtality Charge taking int accunt the excess f the Sum Assured ver the Fund Value n the Relevant Date, the age and gender f the Life Assured and ther factrs as the Cmpany may cnsider apprpriate. The Annual rates f mrtality charges are prvided in Annexure B which will remain unchanged during the term f the Plicy. The Cmpany may deduct the Mrtality Charge n attained age basis, mnthly in advance, frm the Fund Value. A.2 Rider Premium Charge: Rider Premium Charge means the charge levied by the Cmpany t cver cst f the Rider(s) issued. The Rider Premium Charge is payable mnthly in advance at the beginning f each plicy mnth and recverable by deducting frm the Fund Value. Rider Premium Charge is payable as lng as the Rider cntinues and may extend beynd the Regular Premium Payment Term. A.3. Premium Allcatin Charges: Premium Allcatin Charge is a percentage f the Premium apprpriated twards charges frm the Premium received and is charged at the time f receipt f the Premium. The Cmpany charges the Premium Allcatin Charges, at the fllwing rates: Plicy Year Premium Allcatin Charges as a percentage f the Premium Regular Premium First Plicy Year 17% Secnd Plicy Year 12% Third t Fifth Plicy Years 5% Sixth Plicy year nwards 0% Tp-Up Premium 1 % The balance amunt f the Premium, after apprpriatin f the Premium Allcatin Charges, shall be utilized fr purchase f the Units. The current rates f Premium Allcatin Charges as prvided herein abve shall remain unchanged during the term f the present plicy. A.4. Fund Management Charge: Fund Management Charge is a charge levied n a daily basis as a percentage f value f assets held in the respective Unit Linked Fund at the time f cmputatin f the Unit Price. The Cmpany shall apprpriate the Fund Management Charge as stated in Clause 11.6 f the Plicy Terms and Cnditins. The Fund Management Charges applicable, at present, are as fllws: Unit Linked Funds Debt Fund Secure Fund Balanced Fund Grwth Fund Equity Fund Fund Management Charges 0.75% p.a. 1.00% p.a. 1.25% p.a. 1.25% p.a. 1.50% p.a. The Cmpany reserves the right t change the Fund Management Charge, with the apprval f the Regulatry Authrity, prvided hwever that the Fund Management Charges shall nt exceed 2.50% per annum. UIN:114L029V «CHDRNUM»

16 A.5. Plicy Administratin Charges: Plicy Administratin Charges cmprises f charges, which are levied t meet expenses, ther than thse cvered by the Premium Allcatin Charges and the Fund Management Charges. The mnthly Plicy Administratin Charges wuld be Rs.750/- in the first plicy mnth and Rs. 50/- fr each subsequent mnth. The Plicy Administratin charges wuld be deducted at the beginning f each plicy mnth by cancellatin f Units frm the Fund Value. The afresaid Plicy Administratin Charges f Rs.50/- shall be increased cmpunded at 5% every Plicy year. A.6. Switching Charges: The Switching Charges are levied n switching f Units frm ne Unit Linked Fund t anther, ffered under the Plicy. The Switching Charges will be levied at the time f effecting the switch. The Switching Charges applicable at present are as fllws: First Switch in any Plicy Year Secnd Switch in any Plicy Year Any Subsequent Switch after first tw Switches in any Plicy Year Nil Nil Rs.100/- per Switch The Cmpany reserves the right t change the terms and cnditins applicable fr switches, including the number f free switches and the Switching Charges with the apprval f the Regulatry Authrity, prvided hwever that such increase shall nt exceed Rs. 500/- per switch. A.7. Surrender Charge: Surrender Charge is a charge, which is expressed as a percentage f the Plicyhlder s First Year Regular Premium. The Surrender Charges applicable at present are as fllws: Number f full years premium paid Surrender Charge applicable as a percentage f the Plicyhlder s First Year Regular Premium 1 30% 2 20% 3 10% 4 5% 5 and abve 2% The Cmpany reserves the right t change the Surrender Charges frm time t time with the requisite apprval f the Regulatry Authrity subject t a maximum f 50% f the First Year Regular Premium. A.8. Partial Withdrawal Charges: Partial Withdrawal Charge is a charge levied, expressed as a percentage f the aggregate value f the Units partially withdrawn, held in the Unit Linked Funds. The Partial Withdrawal Charge presently in effect is 1% f the aggregate value f the Units withdrawn, subject t a minimum f Rs. 100/- fr each partial withdrawal. The Cmpany reserves the right t change the Partial Withdrawal Charge frm time t time with the requisite apprval f the Regulatry Authrity, prvided hwever that the Partial Withdrawal Charge will nt exceed 5% f the aggregate value f the Units withdrawn at any ne pint in time. A.9 Miscellaneus Charges. UIN:114L029V «CHDRNUM»

17 At the time f plicy issue, a ne time Miscellaneus Charge f Rs. 50/- fr every Rs. 1,00,000 Sum Assured r part theref will be levied. Miscellaneus charges may be revised by the Cmpany with the apprval f the Regulatry Authrity, subject t a maximum f Rs. 100/- fr every Rs. 1,00,000 Sum Assured r part theref. UIN:114L029V «CHDRNUM»

18 ANNEXURE- B: MORTALITY CHARGES Annual Mrtality Charges per Rs 1,000 Sum at Risk Age Male Female The mrtality charges shwn abve are exclusive f service tax and ther cesses, if any, which shall be levied additinally at the applicable rates. Exide Life Insurance Cmpany Limited., Registratin N.114, Regd.& Crprate Office: ING Vysya Huse, 5 th Flr, N.22, M.G.Rad, Bangalre , India. Tel: Fax: Insurance is the subject matter f slicitatin. UIN:114L029V «CHDRNUM»

19 UIN:114L029V «CHDRNUM»

20 Cntact Infrmatin fr Feedback, Cmplaints & Grievances Redressal In case yu have any query r cmplaint/grievance, please feel free t apprach ur ffice thrugh any f the fllwing channels Level 1 Call Us Call ur Tll Free Us us at helpdesk@exidelife.in Cntact us at ur branch ffice nearest t yu r call tll free number t ascertain the address f the nearest branch ffice. Level 2 In case yu are nt satisfied with the decisin f the abve ffice, r have nt received any respnse within 10 days, yu may cntact the fllwing fficial fr reslutin: Cmplaints Officer Exide Life Insurance Cmpany Limited 690, 1st Flr, Gld Hill Square, Opp Oxfrd University Cllege, Begur Hbli, Hsur Rad, Bangalre cmplaintscell@exidelife.in Tll Free Number Tel N: Fax N: Please qute the reference number prvided t yu in yur earlier interactin alng with yur plicy/cntract number t help us understand and address yur cncern. Level 3 In case yu are nt satisfied with the decisin/reslutin f the Cmpany, yu may apprach the nearest Insurance Ombudsman as per the address mentined in Annexure C if yur grievance pertains t: - Insurance claim that has been rejected r dispute f a claim n legal cnstructin f the plicy - Delay in settlement f claim - Dispute with regard t premium - Nn-receipt f yur insurance dcument The cmplaint shuld be made in writing duly signed by the cmplainant r by his legal heirs with full details f the cmplaint and the cntact infrmatin f cmplainant. As per prvisin 13(3)f the Redressal f Public Grievances Rules 1998, the cmplaint t the Ombudsman can be made - nly if the grievance has been rejected by the Grievance Redressal Machinery f the Insurer - within a perid f ne year frm the date f rejectin by the insurer - if it is nt simultaneusly under any litigatin UIN:114L029V «CHDRNUM»