Page 48 - Insurance Times December 2018

o Event to be reported within 48 hours to Insurance o Event to be reported within 48 hours to Insurance
Company by the Farmers, Banks, Block/Tehsil/District/ Company by the Farmers, Banks, Block/Tehsil/District/
State administration directly or through common call State administration directly or through common call
centre centre
o Loss assessment to be completed in 10 days o Loss assessment to be completed in 10 days
o Claims = Sum Insured X %age of estimated loss o Claims = Sum Insured X %age of estimated loss
o Payment of claim only after premium receipt o Payment of claim only after premium receipt

Important Conditions
Localized Calamity Claim
o Complete premium should have been receipted before
o Crops damaged at individual farm level due to
claim payment
o Hailstorm,
o Loan sanctioning and premium remittance without
o Cloud Burst, Natural Fire due to lightening raising crops doesn't guarantee insurance acceptance
o Landslide o Negligence/willful non-adherence by Banks lead to
o Inundation claim payment by the banks itself.
o This cover is available across the country o Substantial misrepresentation by insured/banks , the
o This could be localized event or wide spread event concerned entity will only be responsible

Continued from page 45

 India Multi-Cap Equity Fund At the end of Wealth Booster
 Equity II Fund
10th Policy Year 2.90%
 Growth Plus Fund
15th Policy Year & thereafter at 1.50%
 Balanced Plus Fund interval of every 5 Policy Years

 Debt Fund
 Liquid Fund Other Benefits
Change in Premium Payment Term:You have the flexibility
Loyalty Additions to change your Premium Payment Term anytime after
paying first 5 Policy Years Premiums, in order to align it
Your plan offers regular loyalty additions in the form of
extra allocation of units to your Unit Linked Fund(s), with your changing financial situation.
provided that all due Premiums till date have been paid.
The increase or decrease in Premium Payment Term will
These regular loyalty additions will be added to the Unit be subject to acceptance by the Company as per its
Linked Fund(s) at the end of the each Policy Year, starting Underwriting Policy and terms & conditions of this plan.
from the 6th Policy Year onwards till the end of chosen
Policy Term. Each loyalty additions will be 0.5% of the Increase or Decrease of Sum Assured:You can choose to
average Fund Values of the last 12 monthly Policy
alter your Sum Assured based on your protection needs,
anniversaries.
from the 6th Policy Year subject to underwriting
acceptance.
Wealth Boosters
This plan also offers the additional allocation of units which Settlement Option:You can choose to receive your
will be added to the Unit Linked Fund(s) at specific Policy maturity benefit through Settlement Option in installments
intervals provided all due Premiums till date have been as per the frequency chosen by you, over a maximum
paid. These Wealth Boosters will be a percentage of the period of 5 years. There will not be any life cover
average Fund Value of last 60 monthly Policy anniversaries. during this period and you may opt for complete
The percentages of Wealth Boosters are as mentioned withdrawal of Fund Value at any time during this
below: period.

48 The Insurance Times, December 2018