TERMS & CONDITIONS
Dear customers, please note that as per the policy terms and conditions, Maximum Compensation in respect of the policy shall not exceed 5 times of your Annual Income and hence you will be required to submit the Income Proof at the time of claiming the benefit under the policy. (Income proof shall mean the previous year’s returns filed with the Income Tax Department). I have read the terms and condition in respect of maximum compensation eligibility under the plan and confirm that the Sum Insured opted by me is not more than the 5 times of the Annual Income.
Persons engaged in military service, professional sports, mine workers, fire workers, firefighters, water vessel crew, oil field/oil rig workers, structural workers, window cleaners, junk/salvage workers, sawmill workers, security guards and similar hazardous occupations are excluded under the plan.
- I /We hereby declare on my behalf and on behalf of all persons proposed to be insured that the above statements are true and complete in all respects to the best of my knowledge and that I/We am/are authorised to propose on behalf of these other persons.
- I understand that the information provided by me will form the basis of insurance policy, is subject to the Board approved underwriting policy of the Insurance company and that the policy will come into force only after full receipt of the premium chargeable.
- I/We further declare that I/We will notify in writing any change occurring in the occupation or general health of the life to be insured/ proposer after the proposal has been submitted but before communication of the risk acceptance by the company.
- I/we declare and further consent to the company. seeking medical information from any doctor or from a hospital who at anytime has attended on the life to be insured/ proposer or from any past or present employer concerning anything which affects the physical and mental health of the life to be assured/proposer and seeking information from any insurance company to which an application for insurance on the life to be assured/ proposer has been made for the purpose of underwriting the proposal and/or claim settlement.
- I/We authorize the company to share information pertaining to my proposal including the medical records for the sole purpose of proposal underwriting and/or claims settlement and with any Governmental and/or Regulatory Authority.
- I authorize HDFC ERGO General Insurance and associate partners to contact me via email, phone, SMS.
- The Proposer agrees that the receipt of the Proposal Form by HDFC ERGO along with the premium payment does not tantamount to the acceptance of the Proposal for insurance by HDFC ERGO and does not result in a concluded contract of insurance.
- The acceptance of the Proposal for insurance shall be at the Company’s sole and absolute discretion. In the event of acceptance of the Proposal for insurance by HDFC ERGO, such acceptance shall be specifically intimated to the Proposer by HDFC ERGO along with the date from which the insurance cover shall become effective.
FRAUD WARNING: Any person who, knowingly and with intent to defraud the insurance company or any other person, files a proposal for insurance containing any false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which will render the policy voidable at the sole discretion of the insurance company and result in a denial of insurance benefits.
ANTI-REBATING WARNING: As per Section 41 of the Insurance Act 1938, as amended, the practice of rebating is prohibited, as follows: No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance policy in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the insurer. Violations of Section 41 of the Insurance Act 1938, as amended, shall be punishable with a fine which may extend to five hundred (500) Rupees.
TERMS & CONDITIONS FOR STANDING INSTRUCTION FOR AUTO RENEWAL:
- Please note that your account will be debited 15 days prior to the expiry of your current policy.
- SMS will be sent before debiting the premium amount from your account. Subsequently, 3 attempts will be made to debit your account basis your Standing instructions. After the first unsuccessful attempt, subsequent attempts will be made after every 7 days. Only the account number whose registration on Standing instruction for renewal of your policy provided by you will be tagged in our systems. Kindly note that policy will be issued subject to successful debit attempt being made from your registered account number.
- In the case of cancellation of standing instructions please call on HDFC ERGO toll-free number 1800 2 700 700. Your Cancellation request will be processed within 7 working days of receipt of your request.