Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 2K views

    Coi Pmjjby

    Uploaded by

    ashok1259
    The document summarizes the key terms of an insurance policy under the Pradhan Mantri Jeevan Jyoti Bima Yojana group insurance scheme. The policy provides a one-year renewable term life insurance cover of Rs. 200,000 to eligible savings bank account holders between 18-50 years of age. In the event of death of the insured member during the policy term, the death benefit will be paid to the nominee. The premium is paid annually by the master policyholder (ICICI Bank). The insurance cover will terminate upon the member reaching the terminal age of 50 years or closure of the bank account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Coi Pmjjby

    Uploaded by

    ashok1259
    2K views4 pages
    The document summarizes the key terms of an insurance policy under the Pradhan Mantri Jeevan Jyoti Bima Yojana group insurance scheme. The policy provides a one-year renewable term life insurance cover of Rs. 200,000 to eligible savings bank account holders between 18-50 years of age. In the event of death of the insured member during the policy term, the death benefit will be paid to the nominee. The premium is paid annually by the master policyholder (ICICI Bank). The insurance cover will terminate upon the member reaching the terminal age of 50 years or closure of the bank account.

    Original Description:

    Coi Pmjjby

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document summarizes the key terms of an insurance policy under the Pradhan Mantri Jeevan Jyoti Bima Yojana group insurance scheme. The policy provides a one-year renewable term life insurance cover of Rs. 200,000 to eligible savings bank account holders between 18-50 years of age. In the event of death of the insured member during the policy term, the death benefit will be paid to the nominee. The premium is paid annually by the master policyholder (ICICI Bank). The insurance cover will terminate upon the member reaching the terminal age of 50 years or closure of the bank account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2K views4 pages

    Coi Pmjjby

    Uploaded by

    ashok1259
    The document summarizes the key terms of an insurance policy under the Pradhan Mantri Jeevan Jyoti Bima Yojana group insurance scheme. The policy provides a one-year renewable term life insurance cover of Rs. 200,000 to eligible savings bank account holders between 18-50 years of age. In the event of death of the insured member during the policy term, the death benefit will be paid to the nominee. The premium is paid annually by the master policyholder (ICICI Bank). The insurance cover will terminate upon the member reaching the terminal age of 50 years or closure of the bank account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    Group Insurance Scheme for

    Pradhan Mantri Jeevan Jyoti Bima Yojana

    UIN: 105G146V01

    CERTIFICATE OF INSURANCE
    ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED
    ICICI Prulife Towers, 1089, Appasaheb Marathe Marg,
    Prabhadevi, Mumbai- 400 025
    This policy is a ONE YEAR RENEWABLE TERM Policy.
    Name Of Scheme
    Master Policy Number
    Name of the Master Policyholder (Proposer)
    Address of the Master Policyholder
    Name of the Life Assured
    Date of birth of the Life Assured (as per KYC
    document)
    Age of the Life Assured as on Policy
    Commencement Date/ Renewal Date
    Member Identification Number
    Savings Bank Account Number
    Aadhaar Number
    Sum Assured
    Date of Commencement of Cover
    Date of Termination of Cover
    Annual Renewal Date of Master Policy
    PAN No
    Folio No
    Nominee
    Premium

    Group Insurance Scheme for Pradhan Mantri Jeevan Jyoti Bima Yojana
    00002273
    ICICI Bank Limited
    ICICI Bank Towers, Bandra Kurla Complex, Bandra (E) Maharashtra
    Mumbai 400051
    MR ASHOK KRISHNA K .
    15 Aug 1984
    31
    037601512566
    037601512566
    200000
    01 Jun 2015
    31 May 2016
    01 Jun 2016
    BDQPK2386B
    KODEBOYINASAISMARAN
    330

    Premium Payment Mode

    Yearly

    The Master Policyholder has applied vide proposal dated 01 Jun 2015 to ICICI Prudential Life Insurance Company Limited
    (hereinafter referred to as the Company) for grant of the Benefits specified herein.
    Benefits payable and other conditions : as specified in the Master policy document and this certificate
    Please Note : The Cover to the Members will terminate if the Master Policyholder surrenders the policy or does not pay the due
    premium before the Annual Renewal Date of the Master Policy. As this is a group policy, the members cover will cease if the
    member ceases to be a member of the group. The premium is guaranteed for the period of cover and subject to change on
    policys annual renewal date.
    In case there are any differences in interpretation of the benefits payable, premium, terms and conditions mentioned in
    this Certificate of Insurance, the terms of the Master Policy shall prevail. For complete details, please refer to the policy
    document as available with the Master Policyholder.
    Signed for and on behalf of the ICICI Prudential Life Insurance Company Limited, at MUMBAI on 01 Jun 2015

    Authorised Signatory
    This is a summary of the Master Policy issued to the Master Proposer and contains important terms and conditions about the
    Benefits.

    Group Insurance Scheme for


    Pradhan Mantri Jeevan Jyoti Bima Yojana

    UIN: 105G146V01

    Terms and Conditions of the Policy:


    1. Definitions:
    Unless excluded by or repugnant to the context: -

    a.
    b.
    c.
    d.
    e.
    f.
    g.

    h.
    i.

    "Beneficiary" means the insured Member or the person nominated by the Member as the recipient of the benefits under
    the Rules of the Scheme.
    "Benefits" means the Cover provided to the Members, under the Master Policy.
    "Cover" means the Group Term Insurance and provided to a Member under this Master Policy.
    "Master Policyholder" means the Participating Bank under the Pradhan Mantri Jeevan Jyoti Bima Yojana.
    "Company" means ICICI Prudential Life Insurance Company Limited which expression shall include its successors and
    assigns.
    "Group" means a group of Members accepted by the Company as constituting a Group for the purpose of the Master
    Policy.
    "Date of commencement of Cover" means
    I. the date of commencement of cover for the individual members under the Master Policy.
    II. at the time of issuance of the Master Policy the date of acceptance of risk subject to receipt of member data and
    premium towards these members.
    III. for new members joining during the term of the Master Policy, will be the date of acceptance of risk subject to
    receipt of Member data and premium towards these members. Member Data means the necessary details of the
    Members required to provide risk cover including a self-certificate of good health in a form acceptable to the
    Company.
    "Terminal date" means the date when a Member attains the Terminal age as per last birthdate or the date on which he
    ceases to be a Member of the Scheme whichever is earlier.
    "Terminal Age" is the age as stipulated by the Master Policyholder under Rules of Scheme, on which the Membership
    ceases.

    2. Eligibility for Membership:


    a) Persons who are at least the minimum age at entry (last birthday) and not more than the maximum age at entry (nearer
    birthday) or the Terminal Age, whichever is lower, as specified under the Rules of Scheme, as on the Policy
    Commencement Date, will be eligible for Membership of the Scheme.
    b) Persons who join the Group on or after the Policy Commencement date shall be eligible for Membership of the
    Schemeby payment of full Annual premium for prospective cover along with a self-certificate of good health in a form
    acceptable to the Company, subject to them being within the age limits specified above.
    c) The eligibility of a Member to join the scheme as specified in (a) and (b) above is subject to the Company receiving an
    intimation of eligibility of the Member and premium amount within 30 days of the Member becoming eligible.
    d) The cover of a Member shall terminate on an annual renewal date upon the happening of any of the following events
    and no benefit will become payable thereunder:I. On attaining Terminal age on annual renewal date.
    II. Closure of account with Master Policy holder or insufficiency of balance to keep the insurance in force.
    III. If Master Policy is terminated/discontinued for any reason
    IV. he/she ceases to satisfy any of the eligibility criteria;
    V. he/ she ceases to be a Member for whatsoever reason;
    VI. his/her relationship with the Master Policyholder ceases for any reason whatsoever;

    Group Insurance Scheme for


    Pradhan Mantri Jeevan Jyoti Bima Yojana

    UIN: 105G146V01

    3. Benefits payable under the Policy:


    a) Provided the cover is in force, on death of a member during policy term, death benefit equal to the sum assured will be
    payable to the nominee of such member.
    b) No benefit shall be payable on maturity of the policy.
    4. Premium:
    a) Premium under the Master Policy is payable in advance for each Member.
    b) Premium shall be payable with respect to each member covered under the Policy. The Master Policyholder shall be
    responsible for such premium payment.
    5. Termination of Life Insurance:
    The cover of a Member shall terminate on an annual renewal date upon the happening of any of the following events and no
    benefit will become payable thereunder:a)
    b)
    c)
    d)
    e)
    f)

    On attaining Terminal age (as specified under the Rules of scheme) on annual renewal date.
    Closure of account with Master Policy holder or insufficiency of balance to keep the insurance in force.
    If Master Policy is terminated/discontinued for any reason
    he/she ceases to satisfy any of the eligibility criteria; s
    he/ she ceases to be a Member for whatsoever reason;
    his/her relationship with the Master Policyholder ceases for any reason whatsoever;

    In case a Member is covered under this Scheme through more than one Bank account, and premium is received inadvertently,
    insurance cover will be restricted to Rs. 2 (two) Lakh and the premium shall be liable to be forfeited.
    In the event of the personal statement/ declaration of good health, if any or any other factor relating to the insurability of a life not
    being to the satisfaction of the Company, it may terminate the Cover for such a person/ Member. The decision of the Company
    thereon shall be final and binding on the Master Policyholder and the Member.
    The Master Policyholder and the Company reserve the right to discontinue the scheme at any time or to amend the Rules thereof
    on any annual renewal date subject to giving 1 (one) months notice. Any amendment to the Rules of the Scheme will be done
    based on mutual agreement between the Master Policy holder and the Company. On discontinuance of Scheme by the
    government, the Master Policyholder and the Company may decide to terminate the policy.
    6. Payment of Claim:
    The claim payment will be as per Scheme Rules. The Master Policyholder will raise claims to avail Benefits with the following
    documents:
    a)
    b)
    c)
    d)

    Claim intimation form


    Member Policy Schedule, as applicable
    Death certificate issued by the local authority in case of death claim
    Any other documents or information as may be required by the Company for processing of the claim depending on the
    cause of the claim
    e) The Company reserves the right to call for additional information, documents or particulars, in such form and manner as
    the Company would prescribe, and the Benefits would be paid only after receipt of such additional information,
    documents or particulars.
    f) The claim payment will be made to the account of the member.
    g) All claims payments will be made in Indian currency in accordance with the prevailing exchange control regulations and
    other relevant laws and regulations in India.
    h) The settlement of claim is subject to correct information provided by the member related to his/her personal information
    & in declaration of good health, if applicable. The Company reserves the right to reject the claim of a member in case
    incorrect information related to member is provided for the Cover. The decision of the Company regarding the settlement
    of the Cover shall be binding on the Master Policyholder.

    Group Insurance Scheme for


    Pradhan Mantri Jeevan Jyoti Bima Yojana

    UIN: 105G146V01

    7. Non-disclosure and Fraud:


    In case of non-disclosure and fraud, the policy shall be cancelled immediately, subject to the non-disclosure/fraud being
    established by the Company in accordance with Section 45 of the Insurance Laws (amendment) Act, 2015.
    8. Customer service
    If at any time you need any clarification or assistance, please contact your relationship manager.
    By mail at:
    Address: ICICI Prudential Life Insurance Co. Ltd.,
    Group Service Desk
    Ground Floor & Upper Basement,
    Unit No. 1A & 2A, RahejaTipco Plaza,
    Rani Sati Marg, Malad (East),
    Mumbai - 400 097
    Maharashtra.
    E-mail : grouplife@iciciprulife.com

    You might also like