EXIDE LIFE MAXIMISING LIFE MONEY BACK PLAN CONDITIONS APPLICABLE ONLY TO THE BASIC POLICY 1. Benefit: This Plicy prvides that the Cmpany, in cnsideratin f the payment f premiums as mentined in the Schedule and subject t the terms and cnditins mentined in the plicy and the plicy being in full frce, shall pay the Benefits in such manner depending upn the Premium Term and the ccurrence f Events described in the table belw. In case f Plicy with Premium Term: 16 years Events Benefits On Death f the Life Assured after the Date f Risk Cmmencement under the Plicy but befre the Date f Plicy Maturity 100% Sum Assured under Basic Plicy On Life Assured surviving 4 years frm the Date f Plicy Cmmencement 20% Sum Assured under Basic Plicy On Life Assured surviving 8 years frm the Date f Plicy Cmmencement 20% Sum Assured under Basic Plicy On Life Assured surviving 12 years frm the Date f Plicy Cmmencement 20% Sum Assured under Basic Plicy On Survival f the Life Assured t the Date f Plicy Maturity 40% Sum Assured under Basic Plicy In case f Plicy with Premium Term: 20 years Events On Death f the Life Assured after the Date f Risk Cmmencement under the Plicy but befre the Date f Plicy Maturity On Life Assured surviving 5 years frm the Date f Plicy Cmmencement Benefits 100% Sum Assured under Basic Plicy 20% Sum Assured under Basic Plicy On Life Assured surviving 10 years frm the Date f Plicy Cmmencement 20% Sum Assured under Basic Plicy On Life Assured surviving 15 years frm the Date f Plicy Cmmencement 20% Sum Assured under Basic Plicy On Survival f the Life Assured t the Date f Plicy Maturity 40% Sum Assured under Basic Plicy In case f Plicy with Premium Term: 24 years Events On Death f the Life Assured after the Date f Risk Cmmencement under the Plicy but befre the Date f Plicy Maturity On Life Assured surviving 6 years frm the Date f Plicy Cmmencement Benefits 100% Sum Assured under Basic Plicy 20% Sum Assured under Basic Plicy On Life Assured surviving 12 years frm the Date f Plicy Cmmencement 20% Sum Assured under Basic Plicy On Life Assured surviving 18 years frm the Date f Plicy Cmmencement 20% Sum Assured under Basic Plicy On Survival f the Life Assured t the Date f Plicy Maturity 40% Sum Assured under Basic Plicy The Sum Assured under Basic Plicy, the Date f Risk Cmmencement, the Date f Plicy Cmmencement, the Premium Term f the Basic Plicy and the Date f Plicy Maturity are as shwn in the Schedule. 2. Minr Lives: If the Plicy is issued n the life f a minr, the Plicy will autmatically vest in the Life Assured n his attaining majrity. 3. Participatin in Prfits: The Cmpany shall determine yearly, as a Bnus, that part f the divisible surplus if any, as may be distributed t this Plicy. Payment f such bnuses shall be as per nrms described in the Plicy Bnuses prvisin f this Plicy. - 1 - «CHDRNUM»
4. Plicy Bnuses: Cash bnuses, if any declared under this Plicy, will becme payable n Plicy anniversary fllwing declaratin f bnus, prvided the Plicy is in frce fr the full Sum Assured. Depending upn the ptin exercised by the Plicyhlder the Cash Bnus is either payable in cash r adjusted twards future premiums r left t accumulate with nn-guaranteed interest at the rate set by the Cmpany frm time t time. 5. Guaranteed Cash Surrender Value: If at least three full years premiums have been paid, the Plicy may be surrendered fr cash surrender value, which will be determined by the Cmpany frm time t time. The minimum cash surrender values payable under the Plicy shall be the Guaranteed Cash Surrender Values after three full years premiums have been paid and are calculated as 20% f the ttal f full years, premiums paid, excluding all extra premiums LESS 20% f all survival benefits paid, if any. The guaranteed Cash Surrender Value fr the fractinal number f years f premiums paid shall be calculated by interplatin. The net cash surrender value payable shall be the cash surrender value less any indebtedness under the Plicy, including any Plicy lans, interest due n such lans and any premiums due but unpaid. Any remaining bnus accumulatin at the time f surrender is payable tgether with the net cash surrender value. The Plicy terminates upn the payment f the net cash surrender value. 6. Nn-Frfeiture Prvisins: If three full years premiums have been paid and if any subsequent premium due has nt been received by the Cmpany and the Plicy has acquired a cash surrender value, the plicy shall be cntinued withut further premiums as a nn-participating paid up assurance fr the remaining duratin f the Plicy with the fllwing benefits btained by cnverting the cash surrender value available at the then attained age f the life assured and n the terms and cnditins prevailing and ascertained at that time. 1. A reduced paid-up Sum Assured t be paid n death f the Life Assured befre the Date f Plicy Maturity 2. A reduced paid-up Survival Benefit t be paid n survival f the Life Assured at the Date f Plicy Maturity The minimum amunt f benefits under the paid-up assurance shall be calculated as per the frmulae given belw. 1. Reduced paid-up sum assured payable n death befre the Date f Plicy Maturity The reduced paid-up Sum Assured = [Number f premiums paid] Ttal number f premiums payable X [Sum Assured under Basic Plicy] 2. Reduced paid-up survival benefit payable n survival f the Life Assured t the end f Date f Plicy Maturity The reduced paid-up Sum Assured = [Number f premiums paid] Ttal number f premiums payable X [Sum Assured under Basic plicy] LESS Ttal f Survival Benefits already paid, if any - 2 - «CHDRNUM»
The reduced paid-up Sum Assured and the reduced paid-up Survival Benefit will be applicable subject t the amunt being a minimum f Rs.100/-. A reduced paid-up Plicy shall cease t participate in the prfits f the Cmpany frm the earliest date at which the premium was due and nt paid. Any remaining bnus accumulatin at the time f cnversin int paid-up assurance, may be withdrawn by the Plicyhlder r left t accumulate until the Date f Plicy Maturity, when it becmes payable. After the Plicy is made paid-up fr a reduced sum assured, any subsequent survival benefit as prvided under cnditin 1 (ne) abve titled Benefit shall cease t becme payable. Any lan under the plicy alng with any accrued interest due n such lan will be deducted frm the benefits paid under the Plicy. The Surrender values and Nn-frfeiture prvisins apply nly t the Basic Plicy mentined in the Schedule and nt t any Riders. 7. Plicy Lan: At any time after three full years premiums have been paid, if any net Cash surrender value is available under the Plicy, the Plicyhlder may btain a lan n the sle security f the Plicy and n its prper assignment t the Cmpany. The maximum amunt f lan that will be advanced will nt exceed 80% f the available cash surrender value and prvided that the amunt f lan is nt less than Rs.1000/-. The rates f interest payable n the lan and ther terms and cnditins f the lan shall be as determined by the Cmpany frm time t time. Any further lan will be given after deducting any previus lan with interest. All utstanding lan and interest theren, shall be deducted frm any benefits payable under the Plicy. If at any pint f time, the lan alng with utstanding accrued interest exceeds the value f benefits payable under the plicy, the plicy will be frfeited and n benefits will be payable. The cmpany will retain the right t call fr re-payment f the lan alng with interest by giving a ntice t the Plicyhlder at least ne mnth in advance. CONDITIONS APPLICABLE TO BASIC POLICY AND RIDERS 1. Preamble: This life insurance plicy (hereinafter called the Plicy ) is granted by Exide Life Insurance Cmpany Limited (hereinafter called the Cmpany ) t the persn described in the Schedule as Prpser n the life f the persn mentined therein as the Life Assured. The Plicy is issued upn receipt f the first premium and the Prpsal and Declaratin frm the Prpser and the Life Assured and upn the Cmpany and the Prpser agreeing that the said Prpsal and Declaratin and any statements made r referred t therein shall be the basis f the Plicy. 2. Payment f Benefits: Payment f the Sums Assured under the Basic Plicy and the Riders as shwn in the Schedule shall be subject t deductin f any indebtedness r lien under the Plicy. Payment f all such sums shall be subject t receipt by the Cmpany f prf t its satisfactin, a. Of the Benefits having becme payable as set ut in the Plicy; b. Of the title f the persn r persns claiming payment; and c. Of the crrectness f the age f the Life Assured as stated in the Prpsal, if nt previusly admitted. 3. Beneficiaries: Benefits will be paid t the Plicyhlder r t his nminees r assignees r prving executrs r ther legal representatives. 4. Entire Cntract: The Schedule, the Basic Plicy, the Riders, the Plicy Cnditins and the Endrsements applicable t the Plicy shall tgether frm the entire cntract evidenced by the Plicy.The liability f the Cmpany is at all times subject t the Cnditins f the Basic Plicy and the Riders and t any Endrsements cntained herein. - 3 - «CHDRNUM»
5. Payment f Premiums and Grace Perid: After the Date f Plicy Cmmencement, any premium due must be paid nt later than 30 days frm its due date. Any unpaid premium is deductable frm the benefits that may arise during the 30-day grace perid. If the premiums due are nt paid within the grace perid, the Plicy lapses. The date f lapse shall be the due date f the earliest unpaid premium. The Cmpany shall immediately theren, cease t be liable t pay the Sums Assured under such lapsed Plicy, except as stated under the nn-frfeiture prvisins f this Plicy, until and unless the Plicy has been fully reinstated. A lapsed Plicy shall cease t participate in the prfits f the Cmpany frm the lapse date. 6. Reinstatement: Subject t the apprval f the Cmpany, this Plicy may be reinstated within five years frm the due date f the first unpaid premium prvided, I. the Plicy has nt been surrendered fr cash; and II. a written applicatin fr reinstatement is received frm the Plicyhlder by the Cmpany, tgether with evidence f insurability and health f the Life Assured, if required, t the satisfactin f the Cmpany; III. and all amunts necessary t reinstate the Plicy, as per the then prevailing rules f the Cmpany, are received by the Cmpany. The Cmpany reserves the right t accept the reinstatement f a lapsed Plicy n its riginal terms r n mdified terms r t reject the reinstatement. The reinstatement shall cme int effect n the date when it is specifically cmmunicated t the Plicyhlder by the Cmpany. Since the Cmpany shall be ttally relying n the statements made by the Plicyhlder/ Life Assured t the Cmpany and t its medical examiner in deciding n reinstatement f a lapsed plicy, 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 Plicy r repudiate the claim, if any, arising ut f such reinstatement and the entire amunt paid twards such reinstatement shall be frfeited. 7. Age: The age f the Life Assured has been admitted n the basis f the declaratin made by the Life Assured/Prpser in the prpsal and/ r in any relevant statement based n which this Plicy has been accepted. In cases where age has nt been admitted, the cmpany reserves the right t call fr prf f age, at any time, n r befre the maturity date f the Plicy. If the age f the Life Assured is fund t be different frm that declared, the Cmpany shall alter the plan r term and/ r adjust the premiums r benefits under the Plicy as it deems fit. If the age f the Life Assured at the Date f Plicy Cmmencement is fund t be higher than the maximum r lwer than the minimum entry age that was permissible under the plan f the Plicy at the time f its issue and where n adjustment is pssible, the Plicy shall becme vid frm cmmencement and the premiums paid under the Plicy will be refunded, after deducting any amunts paid under the Plicy and all expenses incurred and the indebtedness under the Plicy, if any, and n ther benefits under this Plicy shall becme payable. 8. Suicide: If the Life Assured cmmits suicide fr any reasn, while sane r insane, within ne year frm the Date f Risk Cmmencement as shwn in the Schedule, the Plicy shall be treated as null and vid, n benefit shall be payable under the Plicy and all the premiums paid n the Plicy shall stand frfeited t the Cmpany. 9. Nminatin and Assignment: Ntice f any nminatin r assignment must be submitted in writing t the Cmpany at its ffice issuing the Plicy r at the ffice servicing the Plicy as cmmunicated t the Plicyhlder frm time t time. In registering a nminatin r an assignment, the Cmpany neither accepts any respnsibility nr expresses any pinin as t its validity r legal effect. 10. Frfeiture in certain events: In case the premiums have nt been duly paid r in case any cnditins mentined under this Plicy have been cntravened r vilated r in case it is fund that any untrue r incrrect statement is cntained in the Prpsal, declaratin r any persnal statement and cnnected dcuments r that any material infrmatin is withheld r misrepresented, then in every such case but subject t the prvisins f Sectin 45 f the Insurance Act 1938, the Plicy shall becme null and vid and the Cmpany shall immediately theren, cease t be liable fr any benefits payable under the Plicy and the mneys paid under the Plicy shall belng t the Cmpany. - 4 - «CHDRNUM»
11. Mdificatin: Any mdificatin, based upn a prir agreement between the Cmpany and the Plicyhlder, made n this Plicy, shall nt be valid unless such mdificatin is in writing and duly signed and attested by the fficials f the Cmpany wh have been authrized t d s. 12. Jurisdictin: Fr reslutin f any dispute that may arise n the Plicy, the aggrieved party shall apprach nly the curts f law within whse territrial jurisdictin the ffice f the Cmpany in which the Plicy is serviced is situated. - 5 - «CHDRNUM»
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 Number 1800 419 8228 Email Us Email 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 560068 Email: cmplaintscell@exidelife.in Tll Free Number 1800-419 8228 Tel N: 080 4134 5212 Fax N: 080 4110 0700 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 - 6 - «CHDRNUM»
Annexure C Jurisdictin Gujarat, UT f Dadra & Nagar Haveli, Daman and Diu Orissa Tamil Nadu, UT Pndicherry Twn and Karaikal (which are part f UT f Pndicherry) Assam, Meghalaya, Manipur, Mizram, Arunachal Pradesh, Nagaland and Tripura Kerala, UT f (a) Lakshadweep, (b) Mahe a part f UT f Pndicherry Uttar Pradesh and Name and Address f Ombudsman Office f the 2nd Flr, Ambica Huse, Nr. C.U. Shah Cllege, Ashram Rad, AHMEDABAD-380 014. Tel.:- 079-27546840 Fax : 079-27546142 Email ins.mb@rediffmail.cm Office f the 62, Frest Park, BHUBANESHWAR-751 009. Tel.:- 0674-2596455 Fax : 0674-2596429 Email ibbsr@datane.in Shri V. Ramasaamy, Office f the Fathima Akhtar Curt,4th Flr, 453 (ld 312), Anna Salai, Teynampet, CHENNAI-600 018. Tel.:- 044-24333668 /5284 Fax : 044-24333664 Email insmbud@md4.vsnl.net.in Shri Sarat Chandra Sarma, Office f the Jeevan Nivesh, 5 th Flr, Near Panbazar Overbridge, S.S. Rad, GUWAHATI-781 001 (ASSAM). Tel.:- 0361-2132204/5 Fax : 0361-2732937 Emailmbudsmanghy@rediffmail.cm Office f the 2nd Flr, CC 27/2603, Pulinat Bldg., Opp. Cchin Shipyard, M.G. Rad, ERNAKULAM-682 015. Tel : 0484-2358759 Fax : 0484-2359336 Email ikchi@asianetindia.cm Office f the Jeevan Bhawan, Phase-2, 6 th Flr, Nawal Kishre Rad, Jurisdictin Madhya Pradesh & Chhattisgarh Punjab, Haryana, Himachal Pradesh, Jammu & Kashmir, UT f Chandigarh Delhi & Rajasthan Andhra Pradesh, Karnataka and UT f Yanam a part f the UT f Pndicherry West Bengal, Bihar, Jharkhand and UT f Andaman & Nicbar Islands, Sikkim Maharashtra, Ga Name and Address f Ombudsman Office f the Janak Vihar Cmplex, 2 nd Flr, 6, Malviya Nagar, Opp. Airtel, Near New Market, BHOPAL(M.P.)-462 023. Tel.:- 0755-2569201 Fax : 0755-2769203 Email bimalkpalbhpal@airtelmail.in Office f the S.C.O. N.101-103, 2nd Flr, Batra Building. Sectr 17-D, CHANDIGARH-160 017. Tel.:- 0172-2706468 Fax : 0172-2708274 Email mbchd@yah.c.in Shri Surendra Pal Singh Office f the 2/2 A, Universal Insurance Bldg., Asaf Ali Rad, NEW DELHI-110 002. Tel.:- 011-23239633 Fax : 011-23230858 Email ibdelraj@rediffmail.cm Shri K Chandrahas Office f the 6-2-46, 1 st Flr, Min Curt, A.C. Guards, Lakdi-Ka-Pl, HYDERABAD-500 004. Tel : 040-65504123 Fax: 040-23376599 Email insmbudhyd@gmail.cm Ms. Manika Datta Office f the Hindustan Building Annexe, 4th Flr, 4, Chittaranjan Avenue, KOLKATA-700 072. Phne: 033-2212 4339/4340 Fax: 033-2212 4341 Email imbsdpa@bsnl.in Shri S Viswanathan Office f the 3rd Flr, Jeevan Seva Annexe, - 7 - «CHDRNUM»
Uttaranchal Hazaratganj, LUCKNOW-226 001. Tel : 0522-2231331 Fax : 0522-2231310 Email insmbudsman@rediffmail.cm S.V. Rad, Santacruz(W), MUMBAI-400 054. Tel : 022-26106928 Fax : 022-26106052 Email mbudsmanmumbai@gmail.cm Standard requirements fr submissin f a Claim are mentined belw (Depending n the circumstances f a claim, additinal relevant infrmatin may be required which wuld be case specific) Maturity Claims Original Plicy Dcument. Discharge frm Death Claim Plicy Dcument - Original. Death Certificate - Original. Death Certificate issued by Medical Attendant/Hspital. Hspitalisatin dcuments (Discharge summary, all investigatin reprts) if Life Assured has taken treatment fr illness leading t death. Last Medical Attendants Certificate. Family Dctr s Certificate. Emplyer s Certificate and Cpy f Medical leave if availed frm the Emplyer. Age prf and Pht Identificatin f the Life Assured Pht Identificatin f the Nminee Obituary intimatin in the newspaper (if any) Burial/ Crematin Certificate Claim Frm. In case f unnatural deaths including accidents (in additin t abve) First Infrmatin Reprt (FIR) attested by the plice fficials, Final investigatin Reprt attested by the plice fficials & Pst-Mrtem Reprt (PMR) attested by the plice fficials. Plice Inquest Reprt and Panchnama reprt attested by the plice fficials. Newspaper clippings f the incident (if any) - 8 - «CHDRNUM»
Change in Cmmunicatin Address Dated: Ref.: Plicy N: Plicy Hlder: Frm (Old Address) (Please fill in capital letters and leave a space between each part f the address) Flat/Bldg. N Street Area City State Res: Off: MbileN: PinCde: E-mail: Land Mark: T (New Address) (Please fill in capital letters and leave a space between each part f the address) *Flat/Bldg. N *Street *Area *City *State *PinCde: * Res: MbileN: * Off: E-mail: Land Mark: *Mandatry Fields Please send all future crrespndence t the new address mentined abve. Nte: In case f any change in cmmunicatin address, a valid address prf is required List f Valid prfs: Telephne Bill, Bank Letter / Accunt statement, Water Bill, Electricity Bill, Valid Passprt, Valid Driving License, Ratin card, ESI Card, Dmicile certificate, Cmpany Lease Agreement / Rent Receipt, Emplyer s Certificate, Ratin Card. Statements/Receipt/Bill shuld nt be mre than six mnths ld frm the request submissin date. Signature f Plicy Hlder: - 9 - «CHDRNUM»