CONDITIONS AND PRIVILEGES WITHIN REFER

RED TO

1. Proof of Age : The maturity Sum Assured having been calculated on the age of
the (i) The Policy shall be assigned absolutely to and held by
the Corporation as
Life Assured as declared in the Proposal, in case the age is found different fro
m such security for the repayment of advance (s) and of the i
nterest thereon.
age, without prejudice to the Corporation's other rights and remedies, including
those (ii) Interest on the advance (s) shall be paid compounding
half-yearly to the
under the Insurance Act, 1938, the sum Assured payable on maturity as shown in t
he Corporation at the rate to be specified by the Corpora
tion when the relative
schedule will be correspondingly altered. The premiums towards optional riders,
if advance is made The first payment of interest is to be
made on the next Policy
opted for, shall be payable in such case at the rate calculated on the Rider Sum
anniversary or an the date six months before the next
Policy anniversary
Assured for the correct age at entry, and the accumulated difference between the
whichever immediately follows the date on which the re
lative advance is made
Rider premium for the correct age and the original premium, from the
and every half year thereafter, interest is charged fo
r a minimum period of six
commencement of the Policy up to the date of such payment shall be paid to the
months.
(iil) The Corporation shall be entitled to call for repaym
ent of the advance(s) with all
corporation with interest at such rate as may be fixed by the corporation from t
ime to
due interest by giving 3 months notice In the event of
failure to repay the
time compounding half-yearly provided. however that in case the Assured continue
s advance (s) when required or to pay interest on the du
e dates as herein above
to pay the premiums at the rates shown herein, and also does not pay the above
mentioned or within 30 days after each due date respec
tively the policy shall be
mentioned accumulated debt, the accumulated difference between the premium for
held without the necessity of any notice being given,
to be forfeited to the
the correct age and the original premium from the commencement of this Policy up
 to Corporation and the Corporation shall be entitled to a
pply the surrender value
the date on which the Policy becomes a claim, with interest on each instalment o
f such allowable in respect of the policy in payment of the a
dvance (s) and interest.
difference at such rate as may be prevailing at the time of claim compounding ha
lf- (iv) In case the policy shall mature or become a claim by
death, the corporation shall
yearly, shall accrue and be treated as a debt due by the Assured against the sai
d become entitled to deduct the amount of the advance(s)
or any portion thereof
Policy and will be deducted from the Policy moneys payable on the Policy becomin
g a which is outstanding together with all interest from t
he policy moneys
claim provided further that if the Assured's correct age at entry is such as wou
ld have 10. Assignments and Nominations : Notice of Assignment or Nom
ination should be
made him uninsurable under the class or terms of assurance specified in the said
submitted for registration to the office of the Corpor
ation, where this policy is
Schedule hereto, the class or terms shall stand altered to such as are granted b
y the serviced In registering an assignment or nomination th
e Corporation does not
Corporation according to the practice in force at the commencement of this Assur
ance accept any responsibility or express any opinion as to
its validity or legal effect.
2. Grace Period :- A grace period of one month but not less than 30 days will be
11. Accident Benefit (if opted for) : If at any time when thi
s policy is in force for the
allowed for payment of yearly, half yearly or Quarterly premiums If a premiums,
that full sum assured or reduced sum assured in case of partial sur
render of the policy, the
has become due is not paid before the expiry of the days of grace, the Policy la
pses Life Assured, before the expiry or the policy term or before
the policy anniversary on ,
If death occurs in the first policy year any premium that has fallen due but not
paid
r.
which the ago nearer birthday of the Life Assured is 70 years
whichever is earlier, is
and premiums, If any, falling due before the next policy anniversary shall be de
ducted involved in an accident resulting in either permanent disabili
ty as hereinafter defined or
from the claim amount
death and the same is proved to the satisfaction of the Corpor
ation, the Corporation
3. Revival of Discontinued Policies: If the Policy has lapsed It may be revived
during agrees in the case of
the life time of the Life Assured. but within period of 5 years from the due dat
e of the first (a) Disability to the Life Assured : (i) to pay in monthly ins
talments spread over 10
unpaid premium and before the date of maturity, on submission of proof of contin
ued years an additional sum equal to the Accident Benefit Sum Assu
red, under this policy. If the
insurability to the satisfaction of the Corporation and the pavMerltsf all the a
rrears of policy becomes a claim before the expiry of the said period of
10 years, the disability
re h :r r 'nt n com oundi . al ra I at suc r may tie fixed by
benefit instalments which have not fallen due will be paid alo
ng with the claim: (ii) to waive
thes,omorationtom fir elo time_The Corporation reserves the right to accept or a
ccept the payment of future premiums
with modified terms or decline the revival of discontinued Policy_ The revival o
f a The maximum aggregate limit of assurance under all pol
icies on the same life to
discontinued Policy shall take effect only after the same is approved by the Cor
poration which benefit (i) and (ii) above apply shall not in any event
exceed Rs_ 50,00,000.
and is specifically communicated to the Life Assured
If there be more policies than one and if the total assurance
exceeds Rs 50.00,000 the
4. Non-forfeiture Regulations : a) If after at least 3 full years' premiums have
been paid benefits shall apply to the first Rs_ 50,00,000 sum assured, i
n order of the date of the
in respect of this Policy, any subsequent premium be not duly paid, this Policy
shall not be policies issued
wholly void, but shall subsist as a paid-up policy for a reduced sum assured Thi
s The waiver of premium shall extinguish all options under
this Policy and the benefits
Reduced Sum Assured will be called as paid-up Policy value which shall be payabl
e in covered by para (b) of this condition except as to such assura
nces if any, As exceeds the
case of death/maturity and shall depend On the number of years for which premium
s have maximum limit of Rs. 50,00,000 and which may have been kept in
force by continued
been paid and shall be the greater of
payment of premiums.

The disability above referred to must be the disability

which is the result of an
A surn that bears the same ratio to the Maturity Sum Assured as the number of pr
emiums accident and must be total and permanent and such that there i
s neither then nor at any
actually paid shall bear to the total number of premiums originally stipulated i
n the policy. time thereafter any work, occupation or profession that the Li
fe Assured can ever
OR
)
sufficiently do or follow to earn or obtain any wages, compens
ation or profit. Accidental 1.
-The surrender value as per para 7 below assuming that the policy has been surre
ndered
injuries which independently of all other causes and within 18
0 days from the happening of -
on the date of death/ maturity as the case may be.
I: )
b) If, after the policy has been in force for at least full three years, any
subsequent such accident, result in the irrecoverable loss of the entire
sight of both eyes or in the
premium be not duly paid, in the event of death of the Life Assured within a per
iod of 12 amputation of both hands at or above the wrists, or in the amp
utation of both feet at or

above ankles or in the, amputation of one hand at or above the

wrist and one foot at or
months from the due date of first unpaid premium, but before the date of maturit
y and
above the ankle shall also be deemed to constitute such disabi
lity.
before the policyholder exercises the option to terminate the contract. the poli
cy moneys
Immediately after the happening of the disability, ful
l particulars thereof must be
excluding the sum assured under Rider benefits, will be paid as if the policy ha
d remained
given in writing to the Office of the Corporation where this p
olicy is serviced together with
in full for.
c) The non- forfeiture regulations are not applicable to rider benefits.
the then address and whereabouts of the Life Assured and withi
n 180 days after the
5. Forfeiture in certain events : In case any condition herein contained or endo
rsed happening of the disability there must be given to the servici
ng Branch Office of the
hereon shall be contravened or in case it is found that any untrue or incorrect
statement is Corporation in the manner required by it proof of disability s
atisfactory to the Corporation
contained in the proposaUpersonal statement, declaration and connected documents
or and without any expense to the Corporation and thereafter simi
lar proof must be given as
any material information is withheld, then and in every such case but subject to
 the and when required by the Corporation, of the continuance of su
ch disability Any Medical
provisions of Section 45 of the Insurance Act, 1938, wherever applicable, this P
olicy shall Examiner nominated by the Corporation shall be allowed to exam
ine the person of the Life
be void and all claims to any benefits in virtue hereof shall cease and determin
ed and all Assured in respect of any disability claimed, in such manner a
nd at such times before
moneys that have been paid in consequence hereof shall belong to the Corporation
, and/or after the disability is accepted by the Corporation as
the Corporation may require.
excepting always in so far as relief is provided in terms of the Privileges here
in contained "In the event of it being discovered at any time that a
claim under this condition has
or may be lawfully granted by the Corporation
been wrongly admitted, all premiums falling due after the Corp
oration's intimation to the
6. Suicide : This Policy shall be void of the Life Assured commits suicide ( whe
ther sane effect shall be paid on due dates and further all premiums for
which waiver was wrongly
or insane at the time ) at any time on or after the date on which the risk under
the policy has claimed and all instalments of additional sum assured which ha
ve been paid shall be paid
commenced but before the expiry of one year from the date of commencement of ris
k to the corporation in one lump sum with interest at such rate
as may be prevailing at the
under this Policy and the Corporation will not entertain any claim by virtue of
this Policy time of payment as if no disability had occurred falling which
.
except to the extend of a third party's bonafide beneficial interest acquired in
the Policy for (i) The benefits available under the policy shall stand
reduced as if the policy has;
valuable consideration of which notice had been given in writing to the branch w
here the been discountinued as on the date from which premiums have bee
n waived or the
policy is being presently serviced ( where the policy records are kept ), at lea
st one payment of the first instant of the additional sum assired whi
chever is earlier and
calendar month prior to death_
(ii) The instalments of additional Sum Assured already p
aid shall be treated as a debt
7. Surrender Value This policy can be surrendered after it has been in force for
at least 3 against the said Policy and shall be deducted with interest at
such rate as may be
full years The surrender value will be the greater of the Guaranteed Surrender V
alue or prevailing at the time of payment from the proceeds of the Pol
icy
Speual Surrender Value as given below :
(b) Death of the Life Assured To pay an Additional sum equal t
o the Accident Benefit
guaranteed Surrender Value (GSV):
Sum Assured under this policy, if the Life Assured shall susta
in any bodily injury resulting
The GSV will be equal to the 30% of the total amount of premiums paid excluding
the solely and directly from the accident caused by outward, viole
nt and visible means and
premiums for the first year and all the extra premiums and premium for accident
benefit/ such injury shall within 180 days its occurrence solely, direc
tly and independently of all
term riders.
other causes result in the death of the Life Assured. However,
such additional sum assured
Special Surrender Value1$31/1:
payable in respect of this policy, together with any such addi
tional sums payable under
The special surrender value under the policy shall be paid as the sum of (a), (5
) and (c) other policies on the life of the life assured, shall not exce
ed Rs. 50,00,000
given as under :
The Corporation will not be liable to pay the additional
sum assured referred in (a) or
a)80% of maturity sum assured if less than 4 years premiums have been paid. 90%
of the (b) above, if the disability or the death of the LifeAssured s
hall
maturity sum assured if 4 or more years but loss than 5 years premiums have been
paid (i) be caused by intentional self-injury, attempted suic
ide, insanity or immorality or
and 100% of the maturity sum assured, if 5 or more yars premiums have been paid
The whilst the LifeAssured is under the influence of intoxicating
liquor, drug or narcotic: or
maturity sum assured for this pare will be the maturity sum assured correspondin
g to the (a) take place as a result of accident while the Life As
sured is engaged in aviation
term for which premiums have been paid under the policy. If the premiums have be
en paid or aeronautics in any capacity other than that or a fare-payin
g, part-paying or non-paying
for a fraction of a year the maturity sum assured shall be worked out by way of
passenger in any aircraft which is authorised by the relevant
regulations to carry such
mathematical interpolation.
passengers and flying between established aerodromes, the Life
Assured having at that
b)The interest from the date of first unpaid premium to the date of surrender on
 (a) above. time no duties on board the aircraft or requiring descent ther
efrom: or
The period for which interest is to be paid may be taken in complete months and
fraction of (iii) be caused by injuries resulting from Hots, civil c
ommotion, rebellion, war ]
a month may be ignored. The rate of interest for this purpose shall be announced
at the (whether war be declared or not), invasion, hunting, mountaine
ering, steeple-chasing or
start of every financial year
racing of any kind, or
C) The loyalty additions, if any, as announced while declaring the results of th
e (iv) result from the LifeAssured committing any breach o
f law; or
Corporations valuation as at 31 st March immediately preceeding the date of surr
ender. (v) arise from the employment of the Life Assured in the
armed forces or military
B. Partial Surrenders : On completion of three or more years from date of
service of any country at war (whether war be declared or not)
or from being engaged in
commencement and payment of premiums for at least three full years partial surre
nders police duty in any military, naval or police organisation
shall be permitted. This will be effected by reducing the annual premium under t
he policy
The extra premium for this benefit will not be required
to be paid after all premiums
and corresponding to the amount by which the annual premium is reduced shall bec
ome
under this Policy have been paid or on and after the Policy an
niversary on which the age
payable on a partial surrender In case of rider benefits, the additional benefit
s and nearer birthday of the LifeAssured is 70 years, whichever is e
arlier.
Premiums payable will also be proportionately reduced The conditions to be satis
fied for 12. Participation in Profits Only Loyalty addition if any will
be payable under the policy
a partial surrender are given below :
Ii) The reduced annual premium excluding rider and extra premium after the parti
al which will depend upon the Corporations actual experience duri
ng the term of the policy

A Policy will bo eligible for the loyalty addition' only alter

payment of premium for full 10
surrender should not be loss than Rs. 3,000/-, where the admitted ago under this
policy is
49 years or below and Rs. 4800/- where the admitted age under this policy is 49
years or years and after completion of 10 years from the date of commen
cement. The loyalty

addition is payable along with Death Claim or Maturity Claim u

nder the policy or when the
below and Rs 4800/-where the admitted age under this policy is 50 years or above
and
should be a multiple of Rs 6001-
policy is Surrendered. "The loyalty additions declared as a re
sult of an actuarial valuation
(ii)The minimum annual premium that can be surrendered is Rs 1200/- and should b
e in shall be applicable only to policies resulting into surrender
death claim or maturity claim
muhiples of Rs. 600/- thereafter.
before the date of next valuation and shall not remain attache
d to the policy.
(10A minimum waiting period of 1 year is required between two successive surrend
ers. 13 Normal Requirement for a Claim "The normal documents which
the claimant shall
(iv) Partial surrenders will be allowed only after the full payment of loan, if
any taken out on submit while lodging the claim in case of death of the policy
holder shall be the claim forms,
this policy from the Corporation.
accompanied with original policy documents, proof of title, pr
oof of death, proof of
Subject to the above conditions, any number of partial surrenders shall be permi
tted. accident/disability, medical treatment prior to death, employe
r's certificate, whichever is)
9. Loans : Provided the Policy has acquired a paid-up value loans shall be grant
ed applicable, to the satisfaction of the Corporation If the age
is not admitted under the policy.
subject to the following terms and conditions within the surrender value of the
policy for the proof of age of the Life Assured shall also be submitted.
such amounts and on such further terms and conditions as the Corporation may he
from Where the policy results into a maturity claim, or in case
of surrender/ partial
time to time and subject to the production of satisfactory title .
surrender of the policy the Life Assured shall submit the disch
arge form along with original

policy document besides proof of ago, if the age is not admitte

d earlier.'