Life quote

Nominee Gets (Monthly option)

Your nominee gets a monthly income whenever you are not around

How much monthly income you want your nominee to recieve?

Your nominee gets a monthly income whenever you are not around

Would you like to increase the monthly income every year (This ensures that your nominee is able to fight the battle with inflation)

(This ensures that your nominee is able to fight the battle with inflation)

Nominee Gets
(Lumpsum + Monthly Income option)

You can decide your nominee to get full lumpsum or part of it along with monthly income

Please choose the cover amount

What percentage of the cover amount would you like your nominee to receive at one go?

Most entered values:

25%

50%

75%

100%

Choose the additional monthly income that you want your nominee to receive

Please select the monthly amount & period to receive as additional income

TOTAL PAYABLE AMOUNT 50 Lakhs (Lumpsum) + (Additional)

Would you like to increase the monthly income every year (This ensures that your nominee is able to fight the battle with inflation)

(This ensures that your nominee is able to fight the battle with inflation)

HDFC Ergo Term Insurance

Smart Term Plan

COVER UPTO

72 years

NOMINEE GETS

₹50 lakhs (Lumpsum) +
₹50,000/month (12years)

₹359/month

COVER UPTO

72 years

NOMINEE GETS

₹50 lakhs (Lumpsum) + ₹50,000/mth. (12years)

Inbuilt Coverages

Death benefits
Life Stage benefits

Accidental Coverages

Additional Features

Death benefit

What do you get?

In an unfortunate event of Death - Sum Assured shall be payable as ‘Lump Sum’ on death and the policy terminates.

What are the exclusions?

In the event the policyholder commits suicide, within one year from the Date of Inception the insurance cover for life insured shall be void. The Company shall pay 80% of the premium(s) received without interest.

Life Stage benefit

What is a Life Stage benefit?

You get an option to increase your life cover at various stages of your life like Marriage, 1st Child, 2nd Child

What do you get?

Life Events	Coverage Boosts Up by
Marriage	Equal to 50% of the original cover subject to maximum of `5,000,000
1st Child	Equal to 25% of the original cover subject to maximum of Rs. 2,500,000
2nd Child	Equal to 25% of the original cover subject to maximum of `2,500,000

What are the limitations?

If the policy is a regular premium paying policy.
has to complete 180 days of the happening of the event.
No limit on cover amount increment (will depend on overall cover amount eligibility)
No wait period after policy issuance for exercising this option
No minimum gap needed between two life stage events

Accidental death Cover

What is Accidental death Cover?

Upon the Death of the life assured due to accident, Insured gets Additional Payout in case of death due to accident

What are the limitations?

If the death occurs after 180 days from the date of the accident
Intentionally self-inflicted injury or suicide, irrespective of mental condition
Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner
War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion
Taking part in any flying activity, other than as a passenger in a commercially licensed aircraft
Taking part in any act of a criminal nature with criminal intent
Taking part or practicing for any hazardous hobby, pursuit or race unless previously agreed to by us in writing.

Critical Illness – First Heart Attack and Cancer of specified Severity

What does this rider offer?

The chosen Critical Illness (CI) Sum Assured shall be payable upon the first diagnosis of one of the covered Critical Illnesses.

What are the limitations?

The total benefit payable should be less than or equal to Sum Assured of the base policy
The disabilities must have lasted, without interruption, for at least 180 days and must, be deemed permanent by a medical practitioner
Rider Benefit will not be paid in case of Pre-existing condition
(AIDS) or infection by any Human Immunodeciency Virus (HIV) is not covered
Self-inflicted injury
Under influence or abuse of drugs, alcohol, narcotics or psychotropic substance Please refer to brochure for further clarity

HDFC Ergo Accidental Disability Benefit Rider

What do you get?

In case insured meets with an accident that results in him/ her being subject to one (or more) of the impairments, the chosen Accidental Disability benefit is payable.

What are the limitations?

Impairment should occur within 180 days from the date of accident and independent of all other causes
The Rider Policy Term can be equal to or Less than the Base Policy Term
The rider benefit will be paid only when life insured has to be incapacitated to such an extent that he/she is unable to perform three or more Activities of Daily Living

PNB MetLife Serious Illness Rider

What does this rider offer?

provides 100% of the Rider Sum Assured on survival of 30 days following the confirmed diagnosis of the Person Insured suffering from one of the Insured Critical Illnesses.

What are the limitations?

The total benefit payable should be less than or equal to Sum Assured of the base policy
The disabilities must have lasted, without interruption, for at least 180 days and must, be deemed permanent by a medical practitioner
Rider Benefit will not be paid in case of Pre-existing condition
(AIDS) or infection by any Human Immunodeciency Virus (HIV) is not covered
Self-inflicted injury
Under influence or abuse of drugs, alcohol, narcotics or psychotropic substance Please refer to brochure for further clarity

List of CI Covered –

First Heart Attack – Of Specified Severity
Stroke Resulting in Permanent Symptoms
Cancer of Specified Severity
Open Chest CABG
Kidney Failure Requiring Regular Dialysis
Major Organ / Bone Marrow Transplant
Aorta Surgery
Total Blindness
Open Heart Replacement or Repair of Heart Valves
Permanent Paralysis of Limbs

Tax Benefit

The benefits received from this policy are exempt from tax Under Section 10 (10D) of the Income Tax Act, 1961
Premiums paid by individuals or HUF under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961

Free look period

You can cancel your policy within first 30 days and get your money back

Grace period

If you forget to pay premium on due date, you get 30 days grace period.

Revival of policy

You can revive your lapsed policy within 2 years by paying all unpaid premiums

Assignment

Assignment should be in accordance with provisions of Section 38 of the Insurance Act 1938 as amended from time to time.

Nomination

Nomination should be in accordance with provisions of Section 39 of the Insurance Act 1938 as amended from time to time

INSURER’S DESCRIPTION

:

HDFC Ergo is one of the leading life insurance companies in India. HDFC Ergo has as its shareholders MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors, MIHL and PNB being the majority shareholders.

EXISTENCE IN MARKET

:

Since 2001

SOLVENCY RATIO AS ON DATE

:

197% for FY19-2020 as of 31/3/2019.

CLAIM SETTLEMENT RATIO AS ON DATE

:

96.21%

NUMBER OF BRANCHES ACROSS INDIA

:

107 branches

INTIMATE CLAIM
SUBMIT DOCUMENTS
SETTLEMENT OF CLAIM

Upon death of the life assured, the nominee can download the claim intimation form from Member Login or you can contact Elephant on 1800 2669 693 or support@elephant.in we will assist you end to end. Upon receipt of intimation, the insurer shall contact the nominee/beneficiary for the required set of documents. Please keep the below list of documents handy for avoiding further delay.

List of Documents:

a. Death certificate issued by Govt. / Relevant Authority

b. Death claim form with claimant’s NEFT details

c. Original Policy Document

d. Claimant’s Identity Residence Prof

e. FIR, Police Inquest Report & Panchanama (in case of unnatural death)

f. Additional documentation might be requested by the insurer on a case-to-case basis

If all documents are received are in order, insurance company’s claims team will take decision on the claim.

Upon favorable decision, payment shall be made to nominee or legal heir of the insured.