Page 45 - Insurance Times January 2018 Sample

a) Minor Stage Cancer benefit shall be payable once the policy anytime by surrendering the policy for a
during the entire life of the policy for Cancer of a surrender value.
particular organ.
For single premium option, surrender benefit is equal to
b) Maximum 4 times Minor Stage Cancer benefit is
payable upto a maximum of sum assured, for separate single premium including extra premium for substandard
organs, in the entire life of the policy. lives, if any (exclusive of Goods & Services Tax) multiplied
by surrender value factor as given below:
c) The policy will terminate once the Sum Assured is
exhausted.
Policy Year of Guaranteed Surrender Value Factor
d) Sum Assured shall be highest of the following: Surrender as a percentage of Premium
10 times Annualised Premium, or 1 56%
105% of total premiums paid as on date of claim 2 42%
event, or
3 28%
Maturity Sum Assured which is NIL. 4 14%
Absolute amount payable on death which is NIL. 5 NIL
Sum Assured
Grace Period:
$ Not applicable for single premium plan.
You get a grace period of 30 days for annual mode / 15
# Lump Sum benefit on diagnosis of Major Stage Cancer is
days for monthly mode from the premium due date to pay
Sum Assured minus Lump Sum benefits paid during Minor
your missed premium. During this grace period, you will
Stage Cancer.
continue to be insured and be entitled to receive the
benefits. If a valid claim arises under the policy during the
Benefits Grace Period, but before the payment of due premium,
Free Look Period: In case you disagree with any of the the claim will be honoured. In such cases, the due premium
terms and conditions of the policy, you can return the will be deducted from the benefit payable.
policy to the company within 15 days (30 days if policy is
sold through direct marketing mode) of its receipt for Tax Benefits:
cancellation, stating your objections. Future Generali will The Premium(s) paid by you are eligible for tax benefit as
refund the policy premium after the deduction of stamp may be available under the provisions of Section(s) 80D as
duty charges, medical expenses, if any and proportional applicable. For further details, consult your tax advisor. Tax
risk premium for period of cover, if any. benefits are subject to change from time to time.

Surrender Value: There is no surrender value applicable Target Group
under regular pay option. For the customers who want to financially protect
themselves and their family from the medical and non
The policy acquires a Surrender Value immediately after medical expenses that are incurred in case Cancer is
payment of single premium. The policyholder may terminate diagnosed and also save taxes

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- Editor

The Insurance Times, January 2018 45

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