Page 47 - Insurance Times January 2018 Sample

Sum Insured Increased Sum Assured on maintaining healthy
The Insured's Declared Value (IDV) of the vehicle will be lifestyle-
deemed to be the 'Sum Insured,' fixed at the commence- During the policy term, we will offer you another chance
ment of each policy period for the insured vehicle. The IDV to avail our Super Elite Premium Rates, in case you were
of the vehicle is fixed on the basis of the manufacturer's eligible for these rates while applying for this policy.
listed selling price for the specific brand and model of the
On successful completion of 25 months of your policy, you
insured vehicle at the time of commencement of the insur-
can undergo medical tests at our cost. If your medical evalu-
ance or renewal, and adjusted for depreciation.
ation turns out to be favorable as per our underwriting
guidelines, we will increase your policy sum assured. This
The table below lists the schedule of age-wise depreciation,
increase will come to you at no addition premium amount
for fixing IDV.
and will be applicable from your 4th policy year onwards.
Age of the Vehicle % of Depreciation
Option for Family Income Benefit of 5 or 10 years-
for fixing IDV
While applying for this plan, you can choose how you would
Not exceeding 6 months 5%
like your nominee to receive policy payouts. There are 3
Exceeding 6 months but not 15%
flexible pay-out options to choose from:
exceeding 1 year
Payout Option How is the Illustration:
Exceeding 1 year but not 20%
pay-out made? Sum Assured =
exceeding 2 years
Rs. 2 Crore
Exceeding 2 years but not 30%
Option A: 100% Sum Assured Rs. 2 Crore is
exceeding 3 years
Lumpsum is paid in a paid as lump sum
Exceeding 3 years but not 40%
Payout single pay-out
exceeding 4 years
Option B: 50% of Sum Rs. 1 crore as
Exceeding 4 years but not 50%
Lumpsum Assured is paid as Lump sum
exceeding 5 years Payout lumpsum and +
0.95% of Sum Rs. 1.9 lakhs
Key Benefits Assured is paid every month for

Substantial Life Cover at affordable premiums- every month for 60 months
60 months (5 years) (5 years)
Under this plan, you can benefit from lower premiums if
you are leading a healthier lifestyle. You will have to un- Option C: 1.07% of Sum Rs. 2.14 lakhs
dergo a medical examination to purchase this plan. Family Income Assured is paid every month for
Y If you do not smoke or consume tobacco, you are of- Benefit (FIB) every month for 120 months
fered preferential premium rates. 120 months (10 years)
(10 years)
Y If your medical evaluation turns out to be favorable as
per our underwriting guidelines, you may be eligible for Option for policy term extension by 5 or 10 years-
our Super Elite Premium Rates.
You can choose to increase your policy term by 5 or 10 years
Y We offer further premium discounts when you choose
by agreeing to pay a higher premium without any change
a sum assured of Rs. 5 Crores and above.
in the premium payment term. This option is only
Y Lower Premium rates are applicable for females. availableto regular pay policies at inception only.

!! Hearty Congratulations !!
Thanks readers for excellent response for our Insurance Quiz published in our December 2017 issue. This month the
lucky winner of the Quiz is Sharad Sharda & M. L. Juliet.
Who will be the next?????
Who will be the next?????
Who will be the next?????
Who will be the next?????
Who will be the next?????
The Insurance Times, January 2018 47

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