809888 / 12358 / No / BlueDart / Indian / 192

BANGALORE 6 /17-QB273251
Date : 21-Jan-2013

To, Customer No. : 31702509

Mr Chetan Gurusiddappa Policy No. : 170 13387 702

NO 873
16TH MAIN VIJAYA NAGAR BANGALORE Product Name : SBI Life - Scholar 2
BANGALORE - 560040
KARNATAKA, India
Contact Details : 9845610726
Father's Name: Mr R GURUSIDDAPPA

Dear Mr Chetan Gurusiddappa,

We welcome you in the SBI Life family and thank you for your trust in our products.
Joining SBI Life family will give you access to best customer service and large range of products which caters to most of your life
insurance needs.
You will find your Policy Document and First Premium Receipt with this letter. Please check all details and make sure that it is
kept safely. Copy of the proposal form is also enclosed.
Please note this is a Regular premium payment insurance Policy. The premium due dates are : 16th of every month
Your Contact Point
For any information/ clarification, please contact:
1. Your local service branch : BANGALORE 6, SBI LIFE INSURANCE CO LTD,SHRI MANJUNATH COMPLEX, NO. 47, 2ND
FLOOR, OLD MADRAS ROAD, K R PURAM,,BANGALORE - 560036,KARNATAKA or,
2. Call us toll free at our customer service helpline 1800 22 2123/1800 22 9090/1800 425 9010 or,
your Agent/Facilitator Mrs Bhanumathi K (IA Code 990199375) , Phone
+91-9845410451
3. In case you have any complaint/grievance, you may contact the following official for resolution:
REGIONAL DIRECTOR,SBI LIFE INSURANCE CO. LTD., 23, YAMUNA COMPLEX, 2ND FLOOR,, 7TH CROSS,
MALLESWARAM,, BANGALORE, -560003
4. E mail us at info@sbilife.co.in or visit us at www.sbilife.co.in
5. Log on to http://mypolicy.sbilife.co.in to get registered in Customer Self service Portal for
a) Viewing policy Details b) Premium Paid Certificate c) Changing personal Details
6. All your servicing requests should be submitted to your local service branch as
mentioned above or nearest SBI Life branch only.
Free Look Option
In case you are not satisfied with the Terms & Conditions as mentioned in the Policy Document, you have the option to return the
policy to SBI Life Insurance Co. Ltd and cancel the cover within 15 days of receipt of the Policy Document. In such an event, the
initial premium payments will be refunded as per Terms and Conditions of this policy and in accordance with the Insurance Act,
1938 and Regulations made there under.
Looking forward to be your preferred Life Insurance Company for all your Life Insurance needs.
Yours truly,

Vivek Sthalekar
Head - New Business Processing

Note : The translated version of this letter in the regional language is printed overleaf for your convenience. However, should there be any
ambiguity, the English version shall prevail.

V-7/24-07-12

Page 1 of 28
 BANGALORE 6 /17-QB273251

Date : 21-Jan-2013

To, Customer No. : 31702509

Mr Chetan Gurusiddappa
Policy No. : 170 13387 702
NO 873
16TH MAIN VIJAYA NAGAR BANGALORE
BANGALORE - 560040 Product Name : SBI Life - Scholar 2
KARNATAKA, India
Contact Details : 9845610726
Father's Name: Mr R GURUSIDDAPPA

Dear Mr Chetan Gurusiddappa,

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or, your
Agent/Facilitator Mrs Bhanumathi K (IA Code 990199375) , Phone
+91-9845410451
3. ¯ÊÜáWæà®Ý¨ÜÃÜã ¨ÜãÃÜá/ñÜPÜÃÝÃÜá C¨ÜªÈÉ A¨Ü®Üá° ŸWæÖÜÄÓÜÆá D PæÙÜX®Ü ËÙÝÓÜPæR ÓÜí±ÜQìÓÜŸÖÜá¨Üá.
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MALLESWARAM,, BANGALORE, -560003
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Page 2 of 28
 First Premium Receipt
Sequence No : 7733964
Channel Code : 990199375
Proposal No :17-QB273251 Channel Name : Mrs Bhanumathi K
Policy No :170 13387 702 Received Date : January 08, 2013

Policy Holder
Mr Chetan Gurusiddappa
NO 873
16TH MAIN VIJAYA NAGAR BANGALORE
BANGALORE - 560040
KARNATAKA, India

Mode :Monthly Product/Plan : SBI Life - Scholar 2

Date of commencement of policy :January 16, 2013 Sum Assured: Rs.5,00,000/-

Installment Premium Rs. 2,578

Due date of Premium payment :January 16, 2013 Service Tax & Education Cess Rs.80

Payment Method :Cheque Total Premium Amount Rs.2,658/-

No. of Premiums Paid 1
Total Amount Received Rs. 8,100/-

Excess Rs.5,442/-

Next premium due on February 16, 2013

Amount of initial/first premium paid : Rs. 2,658/-

Rupees Two Thousand Six Hundred Fifty Eight Only

Received the amount as above.

Date : January 16, 2013

Note : In case of any discrepancies, you are kindly requested to advise us immediately. Call us toll free at our customer service helpline
1800 22 2123 or 1800 22 9090 or 1800 425 9010
No interest is payable on excess payments, if any, made by the policyholder. Any shortage/excess, will be adjusted against future premiums payable.
Premium paid under this policy is eligible for tax rebates under section 80C of the Income Tax Act, 1961, as applicable.

Service Tax is applicable on premium as mandated by the government , effective 10 Sep 2004.
GST is applicable for the Jammu & Kashmir policies as mandated by government of Jammu & Kashmir .

'This Premium receipt is issued subject to realization of cheque'

Service Tax Registration Number : AAFCS2530PST001

Authorized Signatory

Page 3 of 28
Page 4 of 28

Congratulations on your purchase. SBI Life Scholar II (UIN: 111N020V01) is a traditional participating child plan.
1 Aim of policy
2 Benefits of the policy
Page 5 of 28
3 Other benefits
4 Policy Surrender
5 Paid Up Value
6 Loans on the Policy
7 Exclusions
KEY FEATURES DOCUMENT
SBI Life ‐ Scholar II a participating traditional child plan has guaranteed benefits which are payable
at the regular intervals during the term of the policy.
Survival benefits during the last four policy years to fund your child’s education.
• Death Benefit:
• Basic Sum Assured plus Vested Bonus
• All future basic due premiums will be waived
• In addition to the above, Guaranteed survival benefits will be paid as per original schedule
• Survival Benefit:
• 25% of sum assured will be paid every year when the child attains age 18, 19, 20 years. At age
21, 25% of SA plus Vested bonus is paid.
• Rider Benefits: You have the option to choose from the following 3 riders
1) SBI Life – Premium Waiver Benefit (UIN: 111B005V01)
2) SBI Life – Dhanvantri Supreme ‐ Individual Critical Illness (UIN: 111C004V02)
3) SBI Life – Accidental Death & Accidental Total Permanent Disability (UIN: 111C001V01)
In case of unfortunate death of Life Assured future basic premiums will be waived off
Surrender value is available only during the Premium Payment Term (PPT).
Surrender value will be applicable (in case PPT less than 6 years) provided all due premiums are paid
for the first 24 months and (in case PPT greater than or equal to 6 years) provided all due premiums
are paid for the first 36 months. For single premium policy, policy can be surrendered at any time
after the one policy year is completed.
The surrender value will be 60% (in case PPT less than 6 years) and 65% (in case PPT greater than or
equal to 6 years) of the premiums paid less first year premiums, extra premiums and rider
premiums paid, if any.
In case of single premium the surrender value is as follows:
2nd year: 80% of the basic premium paid less any extra premiums paid.
3rd year: 85% of the basic premium paid less any extra premiums paid
4th year and onwards: 90% of the basic premium paid less any extra premiums paid.
For Regular Premium policy – If the policy has acquired surrender value and no further premiums
are paid then it can be converted to a paid up policy with a reduced sum assured.
Not allowed under the plan
Suicide: If suicide is committed, within one year from the date of issue of the policy or the date of
any reinstatement of this policy, the policy shall become null and void.
 In case rider is opted, rider exclusions as per policy booklet shall also apply.

8 Grace period 15 days for monthly mode and for all other modes it is 30 days, from the premium due date.
9 Revival Within 3 years from the date of first unpaid due premium.
10 Free‐look provision You can review the terms and conditions of the policy, within 15 days from the date of the receipt
of policy for policies sourced through any channel mode other than Distance Marketing and 30 days
for policies sourced through Distance Marketing and where you disagree with any of those terms
and conditions, you have the option to return the policy stating the reasons for your objection.
11 Tax Payable – Service Tax, Surcharge and Education Cess are payable on the installment premium and
rider premium (if any), at the applicable rates
Benefit – Tax deduction under Section 80C is available. However in case the premium paid during
the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum
assured.
Tax deduction under Section 80 (D) is available for premiums paid towards Dhanvantri Supreme ‐
Individual Critical illness rider. Tax exemption under Section 10(10D) is available, subject to
premium not exceeding 10% of the sum assured in any of the years during the term of the policy.
Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please
consult your tax advisor for details.

Page 6 of 28
12 Claim Details are mentioned in the Policy Document or contact the Company or your advisor or bank
branch, for further details
Note: This document contains brief information about the key features of the Policy. The same shall not be construed as terms and conditions of the Policy
or part thereof. For detailed terms and conditions governing the Policy, please read the Policy document.
 SBI Life Insurance Company Limited
Registered & Corporate Office : 'Natraj' , M.V Road & Western Express Highway Junction, Andheri (East), Mumbai 400069
POLICY DOCUMENT
SBI LIFE - Scholar-II
(Participating Policy)

The Proposer (who is also the Life Assured), named in the Schedule of this Policy has submitted a proposal together, with a personal
statement and has paid the first installment of premium to the SBI Life Insurance Company Limited (the “Company”, which expression
includes its assigns and successors) for grant of the insurance benefits specified in the Schedule. It is agreed that the proposal and the
personal statement together with any report or other document leading to the issue of this Policy shall form the basis of this contract of
assurance and that all benefits are subject to the schedules, and the terms and conditions and Annexures of this document. It is further
agreed that in consideration of the premium received, and subject to receipt of future premiums (where regular premium mode has been
opted for) as herein stated, the Company will pay the appropriate benefits (without interest) as herein stated to the Beneficiary (hereinafter
defined) on proof to the complete satisfaction of the Company, in its sole discretion, of the benefits under this policy having become
payable. This policy including the premium (including rider premiums, if applicable) and benefits under this policy will be subject to
taxes and other statutory levies as may be applicable from time to time, and such taxes, levies etc. will be recoverable directly and
completely from the Policyholder. It is further declared that every endorsement placed on the Policy document by the Company shall be
deemed part of the Policy.
This policy document, together with the terms and schedules contained in the Annexure(s) enclosed shall together form a single
agreement i.e. ‘Scholar II Plan 17 21/06/2012’.

your Agent/Facilitator Mrs Bhanumathi K (IA

If you require further information, please contact us or
Code 990199375) , Phone +91-9845410451

Schedule I
Policy No 170 13387 702 Date of Proposal 06/01/2013
Proposal Number 17-QB273251 Date of Commencement of Risk 16/01/2013
Date of Issue of Policy 16/01/2013

Base Cover
Benefits :

UIN : 111N020V01

Proposer / Policyholder Mr Chetan Gurusiddappa

Address NO 873
16TH MAIN VIJAYA NAGAR BANGALORE

BANGALORE - 560040
KARNATAKA, India

Life Assured Mr Chetan Gurusiddappa

Date of Birth 29/06/1978
Age Admitted^^ Yes
Gender Male

Named Child: Mr Aarush Chetan

Date of Birth September 17, 2011

Policy Details
Basic Policy Premium
Basic Premium Date of last
Sum Assured Term paying Term Premium Periodicity Date of Maturity
Payable Rs. premium due
Rs. (Years) (Years)

5,00,000 2,631.55 20.0 17.0 Monthly 16/12/2029 16/01/2033

Page 7 of 28
 Rider Benefits Sum Assured Premium Premium Term Date Last Date when
(Rs.) payable(Rs.) Periodicity (Year) Premium Due Benefit Ceases
Accidental Death and
-xx- -xx- -xx- -xx- -xx- -xx-
Permanent Disability Rider**

Dhanvantari Scheme (Critical

-xx- -xx- -xx- -xx- -xx- -xx-
Illness) Rider^

Premium Waiver Benefit

-xx- -xx- -xx- -xx- -xx- -xx-
Rider@

Total Rider Premium payable -xx- -xx- -xx- -xx- -xx-

** Please see Annexure AD & TPD for details ^ Please see Annexure CI for details
@ Please see Annexure PWB for details ^^All age references in this document means Age Last Birthday

Instalment Premium payable : 2,658 *

Due Date(s) of Premium : 16th of each month
*The installment premium stated in the Schedule, Part I of this Policy, is inclusive of applicable service tax (currently the applicable rate is
3.09%in the 1st year and 1.545%from 2nd year onwards). Premiums may vary from time to time with changes in applicable rates of service
tax.
Survival Benefit Schedule***
Survival Benefit Instalment Date Payable (DD/MM/YYYY) Amount (Rs.)
First Survival Benefit Instalment 16/01/2030 1,25,000.00
Second Survival Benefit Instalment 16/01/2031 1,25,000.00
Third Survival Benefit Instalment 16/01/2032 1,25,000.00
Fourth Survival Benefit Instalment 16/01/2033 1,25,000.00
***The Beneficiary may exercise the option, to receive an amount equal to the present value of the unpaid Survival Benefit Instalments
discounted at one per cent above the Prime Lending Rate of the State Bank of India prevailing on the date the option is exercised. On such
payment, the Policy shall automatically terminate, and all claims under the Policy shall stand extinguished. This option must be exercised by
submitting a request in writing to the Company, at least three months prior to the date on which the First Survival Benefit Installment
becomes due.
Nominee : Mrs Savitha .
Relationship to the Life Assured : Spouse
Beneficiary :The benefits under this Policy are payable to:
1. the Policyholder, or
2. the assignee where a valid assignment has been recorded, or
3. the nominee where a valid nomination has been registered by the Company, or
4. in the event of death of the Policyholder without making a valid nomination; the Executors,
Administrators or other legal representatives of the Policyholder, or
5. to such person as directed by a court of competent jurisdiction in India.
Special Provisions (if any): N.A

Signed for and on behalf of the SBI Life Insurance Company Limited at Mumbai this day of January 16, 2013

Authorised Signatory
The stamp duty of Rs 100.00/- (Rupees One Hundred Only) paid by pay order, vide GRASS DEFACE No.0000047026201213 dated 18th
Oct 2012.Government Notification Revenue and Forest Department No. Mudrank 2004/4125/CR690/M-1, dated 31/12/2004.

(Signature)
Proper Officer
Page 8 of 28
Policy Document Scholar-II 21/06/2012
Schedule-II
Benefits payable

A. Death Benefit:
In the event of death of the Life Assured whilst the Policy is in force for the full Sum Assured on the date of death;
i. the Basic Sum Assured together with the bonus vested up to the date of death, if any,
ii. Basic Premium on the policy for future Policy Years need not be paid and,
iii. any unpaid Survival Benefit Instalments shall be paid to the Beneficiary. The unpaid Survival Benefit Instalments, if any,
will be paid on the date(s) they would have normally been due, had no death claim been admitted (See Survival Benefit
Schedule contained in Schedule I of this document).

B. Survival Benefit:
i. In the event that the Life Assured survives to the policy anniversary date immediately following the date on which the Named
Child completes the age of 18 years, the Sum Assured shall be payable in four equal annual instalments (the Survival Benefit
Instalments) in accordance with the Survival Benefit Schedule contained in Schedule I of this document. Bonus vested till the
due date of the last Survival Benefit Instalment, if any, shall also be paid, along with the last Survival Benefit Instalment.
ii. The bonus is Simple Reversionary bonus and will be declared year after year after valuation.

Terms and conditions

1. Age:
a) The Admitted Age is the age derived from the Date of Birth declared on the proposal. In the event the Admitted Age is found
to be incorrect at any time, the correct age being such that it would have rendered the Life Assured ineligible for any of the
benefits under this Policy, this Policy shall stand cancelled from inception, and without prejudice to the Company’s rights
under the Insurance Act, 1938, premiums paid net of expenses incurred in connection with the issue of the Policy will be
refunded to the Policyholder without interest.
b) In the event the Admitted Age is found to be incorrect at any time, the correct age being such that the Life Assured remains
capable of being insured under this Policy,
i. the Basic Sum Assured and other benefits under this Policy shall be suitably adjusted; or
ii. the premium payable under this Policy shall be altered corresponding to the correct age of the Life Assured (the
corrected premium) from the Date of Commencement of Risk under the Policy, and the Life Assured shall pay the
difference in premium with interest at the rate stipulated by the Company from time to time. In the event of the Life
Assured’s failure to pay the difference amount as above, the same shall be treated as a debt and will be recoverable
together with interest at the above rate from any moneys payable under this Policy.
c) Where the corrected age of the Life Assured is found to be lower the premium will be recalculated based on the corrected age
and the Company will refund, without interest, the difference, if any, between the premium for the corrected age and the
premium paid on the basis of the age declared in the proposal.
2. Premium Payments:
a) A grace period of 30 days from the Due Date of Premium (as stated in Schedule I above) will be allowed for payment of
quarterly/half-yearly/yearly premiums and a grace period of 15 days will be allowed where premiums are paid monthly.
b) If, within the first three years following the Date of Commencement of Risk, the premium is not paid within the grace period,
the Policy will automatically lapse.
c) If death occurs during the grace period and the claim is admitted, the Death Benefit (as stated in Schedule-II) will be paid
after deduction of the premiums then due and all premiums falling due during that Policy Year. Subsequently, Basic Premium
on the policy for future Policy Years need not be paid.
3. Paid-up Value:
If premiums have been regularly paid for at least three consecutive years (applicable where the premium paying term is six years
or more), or, premium has been regularly paid for at least two years (applicable where the premium paying term is less than six
years), the Basic Sum Assured of the Policy shall be appropriately reduced in the proportion of the number of premiums actually
paid bears to the total number of premiums payable under the Policy. Such Policies shall not be eligible to participate in bonuses
declared subsequently. The reduced Basic Sum Assured would be payable as Survival benefit (4 equal instalments) or death
which ever is earlier.
4. Surrender Value:
The Guaranteed Surrender Values payable are as below;
Regular premium policies:
For policies with a premium paying term less than six years
The policy will acquire guaranteed surrender value after 24 months from the Date of Commencement of Risk provided all
premiums due during the first 24 months respectively have been paid in full. The cash surrender value will be 60 percent of
the premiums paid less first year premiums, extra premiums and rider premiums paid, if any.
For the policies with a premium paying term greater than or equal to six years: The policy will acquire guaranteed surrender
value after 36 months from the Date Commencement of Risk provided all premiums due during the first 36 months have been
paid in full. The cash surrender value will be 65 percent of the premiums paid less first year premiums, extra premiums and
rider premiums paid, if any.

Page 9 of 28
Policy Document Scholar-II 21/06/2012

Single premium policies:

The policy can be surrendered at any time after the expiry of a period of one year from the Date of Commencement of Risk.
The surrender value is as follows:
2nd year: 80% of the basic premium amount paid less any extra premiums paid.
3rd year: 85% of the basic premium paid less any extra premiums paid
4th year and onwards: 90% of the basic premium paid less any extra premiums paid.

A policy which has acquired a surrender value may be surrendered for Cash.
Cash Value of any existing vested bonuses will be paid along with the Surrender Value.
Any outstanding debts against the policy and the interest thereon, and any money paid under the policy will be a first charge
on the surrender value.

The surrender of the Policy shall extinguish all rights, benefits and interests to whomsoever it may belong under the Policy.
5. Revival of the Policy:
A lapsed policy may be revived during the life time of the Life Assured with in a period of 5 years from the due date of first
unpaid premium and before the Date Last Premium is Due (as stated in Schedule I), on submission of evidence of health
satisfactory to the Company and payment of arrears of premium with interest at the rate stipulated by the Company from time
to time. The Company however reserves the right to accept or reject the revival of a discontinued Policy, or accept the revival
subject to such conditions as may be stipulated at the sole discretion of the Company. The revival of a Policy will be effective
only after the Company communicates the same in writing to the Policyholder.
6. Loan:
No loan will be granted by the Company against this Policy.
7. Assignment:
An Assignment of this Policy shall be effective, as against the Company, from the date that the Company receives a written
notice of the assignment in accordance with Section 38 of the Insurance Act 1938.
The Company does not express itself upon the validity or accept any responsibility in respect of any assignment made by the
Policyholder.
8. Nomination:
Any nomination/ change in nomination, may be made by an endorsement on the Policy, and provided a notice in writing is
given to the Company, in accordance with Section 39 of the Insurance Act, 1938.
The Company does not express itself upon the validity or accept any responsibility in respect of any nomination made by the
Policyholder.
9. Forfeiture:
In case it is found that any statement in the proposal for insurance or in the personal statement or in any reports or documents
leading to the issue of this Policy is inaccurate or false or any material information has been withheld, then and in every such
case but subject to the provisions of Section 45 of the Insurance Act, 1938, this Policy shall be void and all claims to any
benefit in virtue hereof shall cease and determine and all moneys that have been paid in consequence hereof shall belong to
the Company.
10. Suicide:
If the Life Assured, whether sane or insane, commits suicide within one year from the Date of Commencement of Risk, the
Policy shall be void. In such an event, the premiums paid under the Policy shall be refunded, without interest, after deducting
the expenses incurred by the Company for the issue of the Policy.
11. Claims:
A claim must be intimated to the Company by notice in writing to the Company. In the event of a death claim under
the Policy the following supporting documents are normally required to be submitted to the Company along with the claim
intimation:
a. Original Policy Document.
b. Original Death Certificate from Municipal/Local Authorities.
c. Claim forms duly filled in.
d. Certificate from the Physician who last attended the Life Assured along with the Hospital Reports.
e. Police Panchnama and FIR copy etc where applicable
All claims shall be subject to such other requirements as stipulated by the Company and the legal title of the claimant,
satisfactory to the Company. The Company reserves the right to call for any additional information and documents required
to satisfy itself as to the validity of a claim.
12. Payment of Benefits:
The benefits payable under this Policy shall be paid only in Indian Rupees in India, at the office of the Company situated in
Mumbai. The Company may, at its absolute discretion fix an alternative place of payment for the benefits at any time before
or after the policy has become a claim.

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13. Free look period:

If the Policyholder is not satisfied with the terms and conditions of the policy, she/he can return it back, stating the reasons
for his/her objection, within 15 days for policies sourced through any channel mode other than Distance Marketing and 30
days for policies sourced through Distance Marketing from the date of receipt of the Policy document.
The premiums paid will be refunded after deducting stamp duty charges, the cost of medical examination, if any and
administrative charges.

14. Grievance Redressal Procedure

In case the Policyholder has any query or complaint/grievance, he/she may approach the nearest SBI Life Office.
In case the Policyholder is not satisfied with the decision of the above office, or has not received any response within 10
days, he/she may contact the following official for resolution:

Head Client Relationship

SBI Life Insurance Company Limited,
Central Processing Centre,
Kapas Bhawan, Sector – 10,
CBD Belapur,
Navi Mumbai – 400614.
Telephone No: 022-6645 6241
Fax: 022 – 6645 6655
Email Id: info@sbilife.co.in

In case the Policyholder is not satisfied with the decision/resolution of the Company, he/she may approach the Insurance
Ombudsman if such grievance pertains to:

• Insurance claim that has been rejected or dispute of a claim on legal construction of the Policy
• Delay in settlement of claim
• Dispute with regard to premium
• Non-receipt of insurance document

The Central Government has established an office of the Insurance Ombudsman for redressal of grievance or complaint with
respect to Life Insurance Policies.
The addresses of the Insurance Ombudsman and the Redressal of Public Grievances Rules, 1998, are, available on the
website of IRDA, http://www.IRDAIndia.org and in our website http://www. SBILife.co.in. The address of the ombudsman
at Mumbai is:
Office of the Insurance Ombudsman (Maharashtra and Goa)
3rd Floor, Jeevan Seva Annexe,
S.V. Road, Santa Cruz (W),
Mumbai – 400 054.
Telephone No.: +91 – 22 – 2610 6928
Fax No. : +91 – 22 – 2610 6052
E-mail: ombudsmanmumbai@gmail.com

The complaint to the Ombudsman should be made in writing, duly signed by the complainant or by his legal heirs, with full
details of the complaint and the contact information of complainant.

As per provision 13(3) of the Redressal of Public Grievances Rules 1998, the complaint to the Ombudsman can be made only
if:-
• The grievance has been rejected by the Grievance Redressal Machinery of the Company
• The complaint was made within a period of one year from the date of rejection by the Company
• If the complaint is not simultaneously under any litigation.
The list of addresses of insurance ombudsman has been enclosed along with this document

Section 41 of the Insurance Act, 1938:

(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an
insurance 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 prospectuses or tables of the insurer:

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Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his
own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such
acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the
insurer.

(2) Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to five hundred
rupees.

Section 45 of Insurance Act, 1938: “No Policy of life insurance effected before the commencement of this Act shall after the expiry of two years
from the date of commencement of this Act and no policy of life insurance effected after the coming into force of this Act shall, after the expiry of
two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for
insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was
inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and
that it was fraudulently made by the policy-holder and that the policy holder knew at the time of making it that the statement was false or that it
suppressed facts which it was material to disclose; Provided that nothing in this section shall prevent the insurer from calling for proof of age at any
time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on
subsequent proof that the age of the life insured was incorrectly stated in the proposal”.

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Riders Terms and Conditions

Annexure: Accidental Death and Permanent Disability Rider (AD&TPD) (UIN. 111C001V01)

1. Accidental Death and Permanent Disability Rider Benefits: The following benefits are available provided Accidental Death and
Permanent Disability Rider is opted for and this rider is in force:
a) In case the life assured dies in an accident before the expiry of the rider term, the beneficiary will receive an amount
equal to the rider sum assured.
b) The maximum aggregate amount payable for the Accidental Death and Permanent Disability Rider under all
individual policies taken from the Company on or subsequent to August 16, 2002, on the same Life Assured shall
not in any event exceed Rs. 20,00,000. If there is more than one individual Policy taken from the Company on or
subsequent to August 16, 2002 and if the total assurance for the Accidental Death and Permanent Disability Rider
exceeds Rs. 20,00,000, the benefit shall apply to the first Rs. 20,00,000 of Accidental Death & Permanent Disability
Rider Sum Assured in the order of the dates on which the policies were issued.
c) In case of the total and permanent disability of the life assured, the Sum Assured under Total Permanent Disability
Benefit Rider will be paid in 10 equal yearly instalments. In the event of the death of the Life Assured before the
date of Maturity, or on the Life Assured surviving till the Date of Maturity, the balance unpaid instalments, if any,
will be paid in one lump sum.
No benefit is payable in case of any event other than those mentioned above.
Once a claim under this rider is accepted
a) This rider gets terminated
b) The Policyholder exits from all other riders (viz. Dhanvantari Supreme (Critical Illness) rider and Premium Waiver
Benefit rider) which she / he has availed.

a) Accidental Death:
Accidental Death is defined as, if the life assured shall sustain any bodily injury resulting solely and directly from
the accident caused by the outward, violent and visible means and such injury has within 120 days of the occurrence solely,
directly and independently of all other causes result in the death of the life assured.
b) Total Permanent disability (TPD):
The Life Assured will be deemed to suffer from a Total Permanent Disability where:
a) the Life Assured has sustained any bodily injury directly and solely from an accident, which has been caused by
outward, violent and visible means,
b) the Life Assured becomes totally and permanently disabled from the date of accident due to such injury as
stated above solely, directly and independently of all other causes of becoming disabled,
c) The disability is such that the life insured can neither then, nor at any time thereafter conduct any normal work,
occupation or profession to earn or obtain wages, compensation or profit, which he/she pursued prior to the
accident resulting in the Total Permanent Disability,
and
d) The accidental injuries are such that they must independently of all other causes and within 120 days of the date
of the accident result in at least one of the following:
i. total and irrecoverable loss of sight of both eyes;
ii. loss by severance of two or more limbs at or above wrist or ankles;
iii. total and irrecoverable loss of sight of one eye and loss of one limb;
iv. the Life assured has been in coma for a period of at least 60 days.

Upon the happening of the event, the Policyholder /Beneficiary is required to notify the Company in writing in this regard and provide
a) full particulars thereof to the Company within 120 days of the occurrence of the event which results in TPD; and
b) provide proof of TPD satisfactory to the Company and without any expense to the Company, and thereafter similar proof
must be given, as and when required by the Company, of the continuance of such disability. Further, any medical examiner
nominated by the Company shall be entitled to examine the Life assured claiming such disability at such times before and/or
after a claim for TPD is accepted by the Company as it may require.
In the event, any Life assured fails to submit the proof of TPD as requested by the Company, or to submit himself/ herself for
medical examination(s) to the Company’s nominated medical examiner or in the event that a claim for TPD benefit has been
wrongly admitted is proved, the instalments of the sum assured already paid under this rider benefit, if any, shall be
recovered by the Company.

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Exclusions for Accidental Death and Permanent Disability Rider:

The Company shall not be liable to pay the Benefits to the Life assured, who opts for Accidental Death/TPD rider, if death/ TPD of
life assured is caused due to any of the following events:
a) intentional self injury, attempted suicide, insanity or immorality or whilst the Life assured is under the influence of
intoxicating liquor, drug or narcotic substances;
b) injuries resulting from riots, civil commotion, rebellion, war (whether war be declared or not), invasion, hunting,
mountaineering, steeple chasing or racing of any kind, bungee jumping, river rafting, scuba diving, paragliding or any
such adventurous sports.
c) accident while the life assured is engaged in aviation or aeronautics in any capacity other than that of a fare paying or
part paying or nonpaying passenger in any air craft which is authorized under the relevant regulations to carry such
passengers & flying between established aerodromes, the life assured having at that time no duty on board the air craft
or requiring descent there from
d) any breach of law by the Life assured.
e) arising from employment of the life assured in the armed forces or military service of any country at war (whether war
be declared or not) or from being engaged in duties of any para-military, security, naval or police organization

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Annexure: Dhanvantari Supreme (Critical Illness) Rider (CI) (UIN. 111C004V02)

Dhanvantari Supreme (Critical Illness) Rider benefits:

The following benefit is available provided Dhanvantari Supreme (Critical Illness) Rider is opted for and this rider is in force: If
at any time after six months from the Date of Commencement of Risk and before the expiry of the rider term, and the Life
Assured is diagnosed by any of the Critical Illnesses/Diseases as defined below, and the same is proved to the satisfaction of the
Company, the Company agrees to pay the Sum Assured under this rider. Upon payment of the rider Sum Assured, the liability of
the Company to the Policyholder shall extinguish all other rights, benefits and interests to the Policyholder or whomsoever it
may belong under the Policy in respect of Critical Illness.
There is no benefit payable in case of any event other than the one mentioned above.
Once a claim under this rider is accepted the Life Assured exits from all other riders (viz Accidental Death and TPD rider and
Premium Waiver Benefit rider) which she / he has availed.

Critical illnesses/diseases:
a) Cancer
A malignant tumour characterized by the uncontrolled growth and spread of malignant cells and the invasion of tissue. The
diagnosis must be histologically confirmed. The term cancer includes leukaemia but the following cancers are excluded:
• All tumors which are histologically described as pre-malignant, non-invasive or carcinoma in situ;
• All forms of lymphoma in the presence of any Human Immunodeficiency Virus;
• Kaposi’s Sarcoma in the presence of any Human Immunodeficiency Virus;
• Any skin Cancer other than invasive malignant melanoma
• Non life threatening Cancers, such as Prostatic Cancers which are histologically described as TNM classification T1 or
are of another equivalent or lesser classification

b) Coronary Artery By-pass Surgery

The actual undergoing of open heart surgery for the correction of two or more coronary arteries, which are narrowed or
blocked, by coronary artery bypass graft. Angiographic evidence to support the necessity of the surgery will be required.
Angioplasty and/or any other intra-arterial procedures are excluded from the cover.

c) Heart Attack

The death of a portion of heart muscle as a result of inadequate blood supply as evidenced by an episode of typical chest pain,
new electrocardiographic changes and by elevation of the cardiac enzymes. Diagnosis must be confirmed by a consultant
physician.

d) Kidney Failure

End stage renal failure presenting as chronic irreversible failure of both kidneys to function, as a result of which either regular
renal dialysis or renal transplant is undertaken. Evidence of end stage kidney disease must be provided and the requirement
for dialysis or transplantation must be confirmed by a consultant physician.

e) Stroke

Any cerebrovascular incident producing neurological sequelae lasting more than 24 hours and including infarction of brain
tissue, haemorrage and embolisation from an extracranial source. Evidence of permanent neurological damage must be
confirmed by a neurologist at the earliest 6 weeks after the event and no claims can be admitted earlier. Cerebral symptoms
due to migraine, cerebral injury resulting from trauma or hypoxia and vascular disease affecting the eye or optic nerve as well
as ischaemic disorders of the vestibular system are excluded.

f) Major Organ Transplant

The actual undergoing as a recipient of a transplant of a heart, liver, lung, pancreas or bone marrow as a result of chronic
irreversible failure. Evidence of end stage disease must be provided and the requirement for transplantation must be
confirmed by a consultant physician.

Exclusions for Dhanvantari Supreme (Critical Illness) Rider:

The Company will not be liable to pay the Benefits to the Life Assured, who opts for Dhanvantari Supreme (Critical Illness)
rider in the following events:
a) Any Critical Illness diagnosed within six months from the Date of Commencement of the Policy.

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Policy Document Scholar-II 21/06/2012

b) The illnesses which are not included as critical illnesses or in respect of any of those illnesses the symptoms of which
have occurred or would have been diagnosed for which the insured person received treatment during the first six months
from the date of commencement of risk.
c) Pre existing injuries or illnesses, treatment for which is not taken from recognized hospitals or doctors.
d) The illnesses/diseases has resulted from any other illnesses/diseases for which the insured persons has previously
received treatment, or which had previously been diagnosed or which he was aware of, at the commencement of the
Policy or within the first six months from the date of policy.
e) be caused by intentional self injury, attempted suicide, insanity or immorality or whilst the Life Assured is under the
influence of intoxicating liquor, drug or narcotic substances; or,
f) take place as a result of accident while the Life Assured is engaged in aviation or aeronautics in any capacity other than
that of a fare-paying passenger in any aircraft which is authorised by the relevant regulations to carry passengers and
flying between established destinations, or,
g) be caused by injuries resulting from riots, civil commotion, rebellion, war (whether war be declared or not), invasion,
hunting, mountaineering, steeplechasing or racing of any kind; or,
h) result from the Life Assured committing any breach of law.
The benefit under the Critical Illness Benefit Rider will be paid only on the Life Assured surviving 30 days from the date of
diagnosis of the Critical Illness

Premium rates under this rider may be periodically reviewed by the Company, depending upon its experience.

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Annexure: Premium Waiver Benefit Rider (PWB) (UIN: 111B005V01)

Premium Waiver Rider Benefits:

The following benefits are available provided Premium Waiver Benefit Rider is opted for and this rider is in force:

In the event that the Life Assured becomes totally and permanently disabled due to an accident before the expiry of the
rider term and she/he proves the same to the satisfaction of the Company, future premium payments for the Basic Plan
shall be waived by the Company, subject to this benefit is being in full force on the date of occurrence of the claim event.

There is no benefit payable in case of any event other than the one mentioned above. Once a claim under premium waiver
benefit rider is accepted, the Life Assured exits from all other riders (viz. Dhanvantari Supreme (Critical Illness) rider and
Accidental Death & TPD rider) which she / he has availed.

Definition of Total Permanent Disability (TPD): The Life Assured will be deemed to suffer from a Total Permanent Disability
where: the Life Assured has sustained any bodily injury directly and solely from an accident, which has been caused by
outward, violent and visible means; the Life Assured becomes totally and permanently disabled from the date of accident due
to such injury as stated above solely, directly and independently of all other causes of becoming disabled, The disability is
such that the life insured can neither then nor at any time thereafter any normal work, occupation or profession that the life
assured can ever sufficiently do or follow to earn or obtain wages, compensation or profit, which he/she used to pursue before
the event of TPD. Accidental injuries, which independently of all other causes and within 120 days of its occurrence, result in
at least one of the following:

a. total and irrecoverable loss of sight of both eyes;

b. loss by severance of two or more limbs at or above wrist or ankles;
c. total and irrecoverable loss of sight of one eye and loss of one limb
d. the Life assured has been in coma for a period of at least 60 days.

Upon the happening of the event, the Policyholder/Life Assured /Beneficiary is required to notify the Company in writing in
this regard and provide
(a) full particulars thereof to the Company within 120 days of the occurrence of the event which results in TPD; and
(b) provide proof of TPD satisfactory to the Company and without any expense to the Company, and thereafter
similar proof must be given, as and when required by the Company, of the continuance of such total and permanent
disability. Further, any medical examiner nominated by the Company shall be entitled to examine the Life Assured
claiming such disability at such times before and/or after a claim for TPD is accepted by the Company as it may
require.
In the event the Policyholder/Life Assured fails to submit the proof of TPD as requested by the Company, or to
submit himself/herself for medical examination(s) to the Company’s nominated medical examiner or in the event
that a claim for TPD benefit has been wrongly admitted and also proved, the premium waived under the base
product will be recovered and this rider benefit will automatically cease and all premiums paid to keep this rider in
force will be forfeited to the Company. Under such circumstances, the Company may at its sole discretion allow the
life assured to continue with the base product.

General Exclusions:
The Company shall not be liable to pay this benefit, if TPD of Life Assured is caused due to any of the following events:

a) intentional self injury, attempted suicide, insanity or immorality or whilst the Life Assured is under the influence of
intoxicating liquor, drug or narcotic substances;
b) injuries resulting from riots, civil commotion, rebellion, war (whether war be declared or not), invasion, hunting,
mountaineering, steeple chasing or racing of any kind, bungee jumping, river rafting, scuba diving, paragliding or any
such adventurous sports.
c) accident while the Life Assured is engaged in aviation or aeronautics in any capacity other than that of a fare paying or
part paying or nonpaying passenger in any air craft which is authorized by the relevant regulation to carry such
passengers & flying between established aerodromes, the life assured having at that time no duty on board the air craft
or requiring descent there from
d) any breach of law by the Life Assured.
e) due to AIDS and
f) arising from employment of the life assured in the armed forces or military service of any country at war (whether war
be declared or not) or from being engaged in duties of any para-military, security, naval or police organization.

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 ListofOmbudsmen*:‐
Office of the Ombudsman Name of the Ombudsman Contact Details Areas of Jurisdiction
AHMEDABAD Shri P. Ramamoorthy Insurance Ombudsman, Gujarat , UT of Dadra & Nagar Haveli,
Daman and Diu
Office of the Insurance Ombudsman, 2nd Floor,
Ambica House, Nr. C.U. Shah College, Ashram Road,
AHMEDABAD‐380 014.
Tel.:‐ 079‐27546840 Fax : 079‐27546142
Email : ins.omb@rediffmail.com
BHOPAL Insurance Ombudsman, Madhya Pradesh & Chhattisgarh

Office of the Insurance Ombudsman,

Janak Vihar Complex, 2nd Floor, 6, Malviya Nagar,
Opp. Airtel, Near New Market,
BHOPAL(M.P.)‐462 023.
Tel.:‐ 0755‐2569201 Fax : 0755‐2769203
Email : bimalokpalbhopal@airtelmail.in
BHUBANESHWAR Shri B. P. Parija Insurance Ombudsman, Orissa

Office of the Insurance Ombudsman,

62, Forest Park,
BHUBANESHWAR‐751 009.
Tel.:‐ 0674‐2596455 Fax : 0674‐2596429
Email : ioobbsr@dataone.in
CHANDIGARH Shri Manik Sonawane Insurance Ombudsman,
Ombudsman Punjab , Haryana,
Haryana Himachal Pradesh,
Pradesh
Jammu & Kashmir , UT of Chandigarh
Office of the Insurance Ombudsman,
S.C.O. No.101‐103, 2nd Floor, Batra Building. Sector 17‐D,
CHANDIGARH‐160 017.
Tel.:‐ 0172‐2706468 Fax : 0172‐2708274
Email : ombchd@yahoo.co.in
CHENNAI Insurance Ombudsman, Tamil Nadu, UT–Pondicherry Town and
Karaikal (which are part of UT of
Office of the Insurance Ombudsman,
Pondicherry)
Fathima Akhtar Court, 4th Floor, 453 (old 312),
Anna Salai, Teynampet,
CHENNAI‐600 018.
Tel.:‐ 044‐24333668 /5284 Fax : 044‐24333664
Email : chennaiinsuranceombudsman@gmail.com
NEW DELHI Shri Surendra Pal Singh Insurance Ombudsman, Delhi & Rajasthan

Office of the Insurance Ombudsman, 2/2 A,

Universal Insurance Bldg., Asaf Ali Road,
NEW DELHI‐110 002.
Tel.:‐ 011‐23239633 Fax : 011‐23230858
Email : iobdelraj@rediffmail.com
GUWAHATI Shri D. C. Choudhury Insurance Ombudsman, Assam , Meghalaya, Manipur,
Mizoram, Arunachal Pradesh, Nagaland
Office of the Insurance Ombudsman,
and Tripura
“Jeevan Nivesh”, 5th Floor,
Near Panbazar Overbridge, S.S. Road,
GUWAHATI‐781 001 (ASSAM).
Tel.:‐ 0361‐2132204/5 Fax : 0361‐2732937
Email : ombudsmanghy@rediffmail.com

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Office of the Ombudsman Name of the Ombudsman Contact Details Areas of Jurisdiction
HYDERABAD Insurance Ombudsman, Andhra Pradesh, Karnataka and UT of
Yanam – a part of the UT of
Office of the Insurance Ombudsman, 6‐2‐46,
Pondicherry
1st Floor, Moin Court, A.C. Guards, Lakdi‐Ka‐Pool,
HYDERABAD‐500 004.
Tel : 040‐65504123 Fax: 040‐23376599
Email : insombudhyd@gmail.com
KOCHI Shri R. Jyothindranathan Insurance Ombudsman, Kerala , UT of (a) Lakshadweep , (b)
Mahe – a part of UT of Pondicherry
Office of the Insurance Ombudsman,
2nd Floor, CC 27/2603, Pulinat Bldg.,
Opp. Cochin Shipyard, M.G. Road,
ERNAKULAM‐682 015.
Tel : 0484‐2358759 Fax : 0484‐2359336
Email : iokochi@asianetindia.com
KOLKATA Ms. Manika Datta Ms. Manika Datta West Bengal , Bihar , Jharkhand and UT
of Andeman & Nicobar Islands , Sikkim
Insurance Ombudsman,
Office of the Insurance Ombudsman,
4th Floor, Hindusthan Bldg. Annexe, 4, C.R.Avenue,
Kolkatta – 700 072.
Tel: 033 22124346/(40) Fax: 033 22124341
Email : :iombsbpa@bsnl.in
:iombsbpa@bsnl in
LUCKNOW Shri G. B. Pande Insurance Ombudsman, Uttar Pradesh and Uttaranchal

Office of the Insurance Ombudsman,

Jeevan Bhawan, Phase‐2, 6th Floor,
Nawal Kishore Road, Hazaratganj,
LUCKNOW‐226 001.
Tel : 0522 ‐2231331 Fax : 0522‐2231310
Email : insombudsman@rediffmail.com
MUMBAI Insurance Ombudsman, Maharashtra , Goa

Office of the Insurance Ombudsman,

S.V. Road, Santacruz(W),
MUMBAI‐400 054.
Tel : 022‐26106928 Fax : 022‐26106052
Email : ombudsmanmumbai@gmail.com
*Updated as on 07th November 2012

OFFICE OF THE GOVERNING BODY OF INSURANCE COUNCIL

Shri M.V.V. Chalam, Secretary General The Secretary
3rd Floor, Jeevan Seva Annexe, 3rd Floor, Jeevan Seva Annexe,
S.V. Road, Santacruz(W), S.V. Road, Santacruz (W),
MUMBAI – 400 021 MUMBAI – 400 021.
Tel:022‐26106245 Tel : 022‐26106980
Fax : 022‐26106949 Fax : 022‐26106949
Email‐ inscoun@gmail.com
Web: www.gbic.co.in

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