- Death Benefits : Upon death of the Insured Member, Sum Assured is payable.
Optional In-built covers to enhance coverage: The product provides four In-built Cover Options which are optional, i.e. the Master Policyholder can continue with Base Death Benefit only or choose one or more of the optional In-built Cover Options as specified below at inception or at renewal of the Policy in addition to base Death Benefit.
- Terminal Illness (TI): On diagnosis of a Terminal Illness, an amount equal to the TI Sum Assured shall be payable. In case of diagnosis of Terminal Illness, Insured Member will not be covered for any benefits on subsequent renewals. This will be an accelerated benefit i.e. the Coverage Amount under the base Death Benefit will reduce by the amount of the TI Sum Assured.
- Critical Illness (CI): On occurrence of one of the covered Critical Illness Conditions in respect of the Insured Member, subject to Survival Period, Waiting Period and exclusions as per general policy provisions (refer brochure), an amount equal to the CI Sum Assured shall be payable.
- Accidental Death Benefit (ADB) : In case of Accidental Death, an additional amount equal to the ADB Sum Assured shall be payable.
- Accidental Total & Permanent Disability (ATPD): On occurrence of Accidental Total & Permanent Disability, an amount equal to the ATPD Sum Assured shall be payable.
- Where all the optional In-built Cover Options have been opted by the Master Policyholder, a maximum of four benefits can be opted by an Insured Member as detailed below:
- Death, TI, CI, ADB
- Death, TI, ADB, ATPD
- Cover Options opted by the Master Policyholder will be available to the Insured Member to opt for.
- Optional in-built covers chosen at Policy inception can only be changed at subsequent Policy renewal.
- Accidental Total & Permanent Disability (ATPD) and Critical Illness (CI) benefit cannot be opted together.
(Age as on last birthday)
Death Benefit 79 years ;Accidental Death Benefit, Accidental Total & Permanent Disability Benefit, Critical Illness and Terminal illness: 64 Years
Death Benefit: 80 years ; Accidental Death Benefit, Accidental Total & Permanent Disability Benefit, Critical Illness and Terminal illness: 65 Years
a) 1 Year
b) Less than 1 year (1 month to 11 months)
Policy Term of 1 Year: Yearly, Half-Yearly, Quarterly and Monthly
Policy Term less than 1 Year: Single or Monthly only
Rs. 5,000 per member
Base Death Benefit: No limit, subject to BAUP
Accidental Death Benefit, Accidental Total & Permanent Disability Benefit & Terminal Illness: Rs.2,00,00,000 per member* ;
Critical Illness: Rs.50,00,000 per member*
*Capped at Sum Assured
10 membersNote: After Master Policy issuance if the group size falls below 10 members, Master Policy will continue until the renewal date, after which it will be terminated.
- All Employer-Employee (EE) groups
- Non Employer-Employee (NEE) groups where these are defined as any associations where the Member represents a particular profession / trade / domestic workers / anganwadi workers, government agencies, any co-operative societies, parents of school / college students as members and other groups such as:
- Bank account / debit card / credit card holders / group of borrowers,
- Mutual fund / asset management companies' customers,
- Members of depositor / creditor groups,
- Members of subscribers groups (e.g. ET Mobile app, Amazon, Paytm, etc.),
- Members of groups such as Clubs, Associations, Loyalty Programs etc.
- Any other group provided such a group has a clearly evident relationship between the Member and the Group Master Policyholder for services other than insurance, and has been formed for a lawful purpose other than for availing insurance.