Frequently Asked Questions

Frequently asked questions (FAQs) regarding spurious offers made on phone or through emails/sms

  • EligibilityEligibility
  • Product DetailsProduct Details
  • Purchase ProcessPurchase Process
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    • QWho can buy this plan?

      This plan is ideal for you if:

      • You are the sole breadwinner of your family and they are dependent on you for financial security;
      • You would like your insurance cover to adequately cover your life stage needs which are likely to increase over time;
      • You have a young child whose education you wish to provide for even in your absence;
      • You wish to provide an income for your family in your absence;
      • You also want cover against accidental events - accidental death or disability or against terminal illness;
      • You wish to provide life insurance cover for your spouse as well;
      • You are looking for pure life insurance cover and not looking for investments or savings;
      • You are between 18 yrs - 70 yrs of age;
      • You are looking to cover yourself for the next 5 yrs - 40 yrs (provided maximum maturity age is 80 years).
    • QWhat are the plan options and who can I cover under this plan?

      You can choose one of the following options:

      Only Me: Life insurance cover for yourself which provides cover against death and Terminal Illness

      My Spouse and I: Life insurance cover for yourself and your spouse (which also provides cover against Terminal Illness). The spouse cover is fixed at INR 25,00,000.

    • QWhat are the kinds of coverage I can opt for?

      Level cover: Your insurance cover (sum assured) will be fixed for the policy term.

      Increasing cover: Your insurance cover (sum assured) will increase by 25% every 5 years, up to the 20th policy year so as to suffice for the increased life stage needs.

    • QWhat else is covered under this plan?

      Other than death, iSelect can also provide coverage against the following:

      Terminal Illness: This is an in-built cover which pays the death benefit in the event of diagnosis of terminal illness.

      Accidental Death: This is an optional cover which provides aan additional amount in addition to your sum assured, in the event of accidental death.

      Accidental Total and Permanent Disability: This is an optional cover which pays the plan benefit in the event of such disability (and the policy terminates).

    • QWhat will my family receive in case of my unfortunate demise?

      Basis the coverage options chosen by you, your family will receive:

      On Death: Sum Assured

      On Accidental Death (if you had opted for Accidental Death cover): Sum Assured + accidental death cover

      If you had opted for 'My Spouse and I', in the event of death of the spouse (including accidental death), the fixed sum assured with respect to your spouse (i.e. INR 25,00,000) would be paid and his/ her insurance cover would terminate. Your insurance cover would continue as planned with a reduced premium.

    • QWhat will my family receive if I am diagnosed with terminal illness?

      In the event of Terminal Illness, your family will receive the sum assured amount.

      In case you had opted for 'My Spouse and I', if your spouse is unfortunately diagnosed with terminal illness, the sum assured with respect to your spouse (i.e. INR 25,00,000) would be paid and his/ her insurance cover will terminate. Your insurance cover would continue as planned with a reduced premium.

    • QWhat will I receive if I suffer from total and permanent disability?

      If you had opted for Accidental Total and Permanent Disability cover: In the event of accidental total and permanent disability, you will receive the sum assured.

    • QHow are the plan benefits paid out?

      Basis the financial need you foresee for your family, you can choose any one of the benefit payout options listed below. Please note that the payout option cannot be changed (by you or by your beneficiaries) once the policy is issued.

      Lump Sum: Entire benefit amount will be paid out as a one-time lump sum.

      Lump Sum + Monthly Income: 50% of the benefit amount will be paid out immediately as a lump sum. The rest of the benefit will be paid out in equal monthly instalments over 120 months.

      Monthly Income for a fixed term: The entire benefit amount will be paid out in equal monthly instalments over 120 months.

      Monthly Income till the end of your policy term: The entire benefit amount will be paid out in equal monthly instalments till the end of your planned policy term.

      The monthly income payout will be calculated starting from the date of the event (i.e. death/ terminal illness/ ATPD) and the payout will start from the first monthly anniversary following claim admission.

    • QWhat are eligibility conditions?
      Age at entry Life Assured: 18 years – 70 years
      Spouse (if opted for): 18 years - 50 years
      Maximum age at maturity 80 years
      (If Accidental Death or Disability covers have been opted for: 75 years)
      Policy term 5 years - 40 years
      Policy term of 5 years - 9 years is available only for age at entry of 35 years and above.
      Sum Assured (inclusive of Terminal Illness) Life assured: Rs. 25,00,000 & above (subject to underwriting)
      Spouse: Rs. 25,00,000 (fixed)
      Sum Assured if optional in-built covers are opted Cover Minimum Maximum
      Accidental Death Rs. 25,00,000 Rs. 3,00,00,000
      Accidental Total and Permanent Disability Rs. 25,00,000 Rs. 1,00,00,000
      Premium payment mode Yearly/ monthly.
      Please note, If you have opted for monthly mode, please note that it is mandatory to pay first 3 month's premium in advance.
      Premium Payment Term Regular premium payment (Same as Policy Term)
    • QHow much will my premium be?

      Your actual premium will depend on company's assessment of risks on your health, lifestyle, occupation etc. Please refer to our website to calculate your premium .

    • QWhat are benefits of opting for higher sum assured?
      The premium rates would be lower for higher sums assured (i.e. for sum assured of INR 50 lac or more).
    • QWhat are tax benefits under the plan?

      You may be entitled for tax benefits under Section 80C and Section 10(10D), as per the Income tax Act, 1961. Do consult your tax advisor for tax related queries.

    • QWhy are the rates for tobacco user much higher than non-tobacco use?

      Nicotine users pay higher insurance premiums is because of tobacco-related illnesses that may occur and cause premature death, such as lung cancer, heart attack, emphysema, severe asthma, stroke, and other forms of cancer.

    • QWhen will my life insurance cover begin?

      The insurance cover under this policy shall commence on the date the Company underwrites the risk, subject to realization of full premium.

    • QWhat are the non-medical limits under the plan?

      Basis your response to the health questions, you may not be required to undergo medical tests if you have opted for a sum assured of less than INR 50 lac and your age is 45 yrs or less.

    • QWhat medical test will I need to go through for this product?

      The medical tests will depend on the age and the sum assured that you have opted for.

    • QCan medicals be done at home?

      We give an option to our customers where panel medical examiner/technician will go directly to your house to conduct the required medical examination.

      Home visit will not be possible for CXR (Chest X Ray) or TMT (Treadmill Test) or Ultrasound. The customer is required to visit the allocated diagnostic centre for this.

    • QCan nominee be a minor?

      The nominee can be a minor. In case the nominee is less than 18 years of age, the policy holder is required to provide an appointee.

    • QWhat happens in case the life assured commits suicide?

      If death of Life Assured occurs due to suicide or attempted suicide within 12 months of the date of commencement or date of reinstatement of the policy, no benefit is payable except premiums received under the policy However, in case suicide after 12 months of policy issuance/revival, the Sum Assured as opted would be payable.

    • QCan I avail a loan under this plan?

      No, policy loan is not available under this plan.

    • QWhat is free look cancellation?

      In case you do not agree with the terms and conditions of the policy, you have the right to cancel the policy within 30 days from the date of receipt of the policy document, stating the reasons for such cancellation.

    • QWhat are the exclusions for Terminal Illness?
      • Terminal Illness due to Acquired Immuno-Deficiency Syndrome (AIDS) is excluded.

      Accidental Death Benefit:

      Accidental death benefit will be paid in lump sum over and above the death benefit. The accidental death benefit will remain same as chosen at the policy commencement throughout the policy term. If the accident occurs before the end of policy term, but death occurs after the end of the policy term and within 180 days of the accident, accidental death benefit will be payable.

    • QWhat are the exclusions under Accidental Death Benefit?

      Accidental Death of Life Assured arising directly or indirectly from any of the following are specifically excluded:

      • Any condition, ailment or injury or related condition(s) for which you had signs or symptoms, and / or were diagnosed, and / or received medical advice / treatment within 48 months to prior to this policy issued by the insurer or at the time of reinstatement of the policy.
      • Death directly or indirectly, wholly or partly due to an Acquired Immuno-Deficiency Syndrome (AIDS) or infection by any Human Immunodeficiency Virus (HIV).
      • The life assured taking part in any hazardous sport or pastimes (including hunting, mountaineering, racing, steeple chasing, bungee jumping, etc., any underwater or subterranean operation or activity and racing of any kind other than on foot.
      • The Life Assured flying in any kind of aircraft, other than as a bonafide passenger (whether fare-paying or not) on an aircraft of a licensed airline.
      • Self-inflicted injury, suicide or attempted suicide-whether sane or insane
      • Under the influence or abuse of drugs, alcohol, narcotics or psychotropic substance not prescribed by a registered medical practitioner.
      • Service in any military, air force, naval or paramilitary organization.
      • War, civil commotion, invasion, terrorism, hostilities (whether war be declared or not).
      • The life assured taking part in any strike, industrial dispute and riot.
      • The life assured taking part in any criminal or illegal activity with criminal intent or committing any breach of law including involvement in any fight or affray.
      • Exposure to Nuclear reaction, Biological, radiation or nuclear or chemical contamination.
      • Physical handicap or mental infirmity.

      Accidental Total and Permanent Disability Benefit

      This cover can be availed only with level coverage option.

      If the life assured suffers total and permanent disability due to accident anytime during the policy term, the Accidental Total and Permanent Disability Benefit (i.e. the sum assured) will be paid as per the benefit payout option chosen by you. Accidental Total & Permanent Disability ("ATPD") shall mean the occurrence of any of the following conditions as a result of accidental bodily injury:

      • Loss of use or loss by severance of two or more limbs at or above wrists or ankles. Limb means the whole hand at or above the wrist or the whole foot at or above the ankle. The diagnosis has to be confirmed by a specialist.
      • Loss of sight shall mean total, permanent and irrecoverable loss of sight of both eyes as a result an Accident. The blindness must be confirmed by an Ophthalmologist. The blindness is evidenced by :
        • corrected visual acuity being 3/60 or less in both eyes or ;
        • the field of vision being less than 10 degrees in both eyes.
      • The diagnosis of blindness must be confirmed and blindness must not be correctable by aides or surgical procedures.
      • Loss of speech shall mean total and irrecoverable loss of the ability to speak as a result of injury to the vocal cords. The inability to speak must be established for a continuous period of 12 months. This diagnosis must be supported by medical evidence furnished by an Ear, Nose, Throat (ENT) specialist.
      • Loss of hearing shall mean total and irreversible loss of hearing in both ears as a result of Accident. This diagnosis must be supported by pure tone audiogram test and certified by an ENT specialist. Total means " the loss of hearing to the extent that the loss is greater than 90 decibels across all frequencies of hearing" in both ears.

      The above disability must have persisted for at least 6 consecutive months (except for "Loss of Speech" where the disability must be established for a continuous period of 12 months) and must, in the opinion of a registered medical practitioner appointed by Us, be deemed total and permanent. If the Accident occurs before the end of Policy Term, but Total and Permanent Disability occurs after the end of the Policy Term and within 180 days of the Accident, Accidental Total and Permanent Disability Benefit will be payable. The above mentioned 180 days period will not be applicable for disabilities due to loss of limbs by severance.

    • QWhat are the exclusions under Accidental Total and Permanent Disability Benefit?

      Accidental Death of Life Assured arising directly or indirectly from any of the following are specifically excluded :

      • Any condition, ailment or injury or related condition(s) for which you had signs or symptoms, and / or were diagnosed, and / or received medical advice / treatment within 48 months to prior to this policy issued by the insurer or at the time of reinstatement of the policy.
      • Disability directly or indirectly, wholly or partly due to an Acquired Immuno-Deficiency Syndrome (AIDS) or infection by any Human Immunodeficiency Virus (HIV).
      • The life assured taking part in any hazardous sport or pastimes (including hunting, mountaineering, racing, steeple chasing, bungee jumping, etc., any underwater or subterranean operation or activity and racing of any kind other than on foot.
      • The Life Assured flying in any kind of aircraft, other than as a bonafide passenger (whether fare-paying or not) on an aircraft of a licensed airline.
      • Self-inflicted injury, suicide or attempted suicide-whether sane or insane
      • Under the influence or abuse of drugs, alcohol, narcotics or psychotropic substance not prescribed by a registered medical practitioner.
      • Service in any military, air force, naval or paramilitary organization.
      • War, civil commotion, invasion, terrorism, hostilities (whether war be declared or not).
      • The life assured taking part in any strike, industrial dispute, riot.
      • The life assured taking part in any criminal or illegal activity with criminal intent or committing any breach of law including involvement in any fight or affray.
      • Exposure to Nuclear reaction, Biological, radiation or nuclear, biological or chemical contamination.
      • Physical handicap or mental infirmity.

      If any of the exclusions mentioned above are disclosed at proposal stage, then the Accidental Total and Permanent Disability and Accidental Death Benefit options will not be offered.

    • QIf the premiums are not paid on time, what will happen to my policy?

      We recommend that you pay your premiums before the due date. However, we provide a grace period of 30 days (15 days, in case you have opted for the monthly mode) to pay the premium without any impact on the benefits in your policy. Your cover will lapse in case we do not receive the due premium within the grace period.

    • QWhat if the cover gets lapsed?

      The insurance cover will cease immediately. No benefit shall be payable upon death/ diagnosis of terminal illness/ disability (as applicable).

      You can make a request for revival of your policy anytime during the revival period of 2 years from the due date of first unpaid premium.

    • QWhat are conditions for reviving the policy?

      Revival Request can be given any time, within the 2 years from the first unpaid (FUP) due date of the premium. The revival of the policy will be either on its original terms or on modified terms as per the Board Approved Underwriting Policy of the Company.

      Basis the day you send in the revival request, the following are the requirements for revival:

      Within 31-180 days from FUP: Regular premium due and reinstatement interest; underwriting required only if any existing policy/ proposal on the Life Assuredd are rated up, declined, postponed or pending for issuance.

      After 180 days from FUP- Regular premium due, reinstatement interest, policy reinstatement form, medical tests (if applicable as per the medical grid).

    • QWhat are various premium payment modes under this product?
      Annual and monthly modes are available with this plan.
    • QHow can I pay the premium?

      First Year: - Credit Card/Direct Debit/Net banking only

      Renewal: The different options are:

      Electronic Payment –

      • SI on his/her bank account via
        • Direct Debit (Partner Bank account)
        • ECS (Electronic Clearing System) in case of payment through non partner. NACH (National Automated clearing house) will be applicable post the go live date
      • SI on his/her Credit Card
      • Electronic Billing Presentment and Payment service (EBPP
      • Online customer portal via Net Banking, Credit and Debit Card
      • Pay at Branch (Canara and OBC)
      • IVR Payment
      • Card swipe at hubs

      Physical Payment –

      Cheque / DD/ Bankers Cheque

    • QCan I set up ECS* for my policy? How do I do that?

      You can change the method of payment to ECS. The requirements for the same are:

      • Policy servicing form A signed by Policy Holder (available on the E smart website or any of our hubs)
      • Original SI mandate with cancelled cheque.

      Please note that ECS registration takes up to 35 -40 days

    • QCan I use my family member's credit card for purchase of the plan?
      As per IRDAI guidelines payment should only be made if the credit card is in the name of the policy holder.
    • Q What documents are needed to apply for cover?

      The documents required are mentioned below:

      As per existing underwriting guidelines

      ID and Age Proof:
      • Driving License
      • Pan Card
      • Passport
      • Baptism or Marriage certificate
      • Birth Certificate
      • Domicile certificate
      • Employer service record
      • Government employment certificate
      • Identity card by defense department
      • School or college certificate

      Address Proof:

      • Electricity Bill
      • Driving License
      • Passport
      • Telephone bill
      • Bank Account statement
      • credit card statement
      • employer's certificate
      • letter from a recognized public authority
      • MOA declaration/ ration card
      • RC book copy
      • Rent agreement or sale agreement
      • voter id

      Income Proof:

      • Form 16
      • Latest ITR
      • latest 3 months Salary Slips
      • latest audited P&L account and balance sheet statement

      No upload of password protected documents

      No utility bills older than six months

      PAN card in case the annualized premium is greater than or equal to INR 50,000.

      Photograph (scanned or otherwise) (if premium is greater than INR 10,000)

    • QI am an NRI/NRE/PIO? What is the process applicable for me?
      We would request you to submit "Passport" as mandatory age proof.
    • QCan I upload pictures of my documents rather than scanned images?
      We do accept JPEG format for documents that is usually the format for pictures hence the same is accepted.
    • Q How can I resume application?
      "Resume your application" screen is available on the home page and you would have to enter your application number and date of birth to resume the details where you left it at
    • QWhat do you mean by PEP?

      PEPs are individuals who are or have been associated with a political party/politician or holding any senior role in any ministry/government/state owned enterprises / judicial body / military/police in India or abroad or those individuals who have any close family members or associates in the said capacity.

    • QWhich conditions can my application for insurance can get rejected?

      The insurance cover can be rejected basis the Company's Board Approved Underwriting Policy.

    • QMy payment is successful and I have received the transaction notice. When will the policy get issued to me?

      Once your payment has been successfully made, there are usually two more steps to be completed before your policy can be issued –

      • Submission of KYC documents (refer list <>). You can submit your documents <> or email them to <>
      • Submission of Medical Requirements (if any. List of medicals that you may be required to undergo is determined basis your sum assured and age)

      Once you have submitted your documents and if required, completed your medical tests, your application will be reviewed by the Company and you will be notified via email and sms as soon as the policy is issued.

    • Q What is service tax?

      Service Tax is a tax imposed by Government of India on services provided in India. The service provider collects the tax and pays the same to the government. It is charged on all services except the services in the negative list of services. The current rate is 15% on gross value of the service.

    • QCan I take a print of online form and make a cheque payment at any of Canara, OBC or HSBC branches?

      Currently, only online payment of the first premium is accepted hence cheque/DD is currently not accepted while making payment.

    • QHow can I send KYC and Income document to you?

      You can upload the documents by browsing and attaching the document .Currently, allowed formats are - BMP, JPEG/JFIF, GIF, PNG, PDF, XLS, PPT, DOC, XLSX, PPTX, DOCX, and OOXML.

    • QIf my age changes before the acceptance of my application, will I have to make additional payment? How will I make this payment?

      There may be cases where, DOB would have changed while resuming the application. Age as on the date of resuming the application is taken into account for calculation of revised premium.

    • QHow much time is allowed to submit the pending requirement s/ documents?

      In case further documents have been called by an underwriter to assess the case, requirements will be raised. You will have 35 days from the date of requirement raised date to submit the documents. On 36th Day your proposal will get cancelled.

    • QIf my case gets cancelled owing to non submission of documents, can I still submit the required documents against the same proposal for further processing?

      Yes, we have a reversal process in place where proposal gets cancelled due to non receipt of documents against the requirements called for. We need a customer request for reversing any case along with required documents,. If customer signed date on given letter is less than 180 days from proposal sign date case can be reversed.

    • QWhy are additional questionnaires sent to me?

      These questionnaires are basis the details that you have provided to us and help us understand your profile better. Hence we would request you to kindly fill them and upload the same at earliest.

    • QWhy was I rated up? What is counter offer letter? What do I need to do once I receive counter offer?

      Based on the information provided by you and the medical test reports evaluated by the underwriters, an additional risk is attached to your life because of many reasons like occupation risk, health risk etc. If you wish to receive the policy, you will have to resume application on our website, pay the additional premium as mentioned on the counter offer screen.

    • QHow do I generate premium receipt for submission at my office for tax benefits?

      The first premium receipt is available in the policy document. You can generate receipts online from our customer portal 24/7 at a time of your convenience or you could also call our customer service team from Monday to Friday (8am to 8pm) and on Saturday (9am to 6pm). For your convenience, we also dispatch a physical copy of the premium receipt to your registered address as soon as the premium is updated in the policy.

    • QWill I get hard copy of policy document?

      A hard copy of the Policy Document is dispatched within 7 days from the date of issuance.

    • QCourier of my policy was not delivered at my home. What should I do?

      In case if the policy documents are returned to origin due to reason "Premises Locked (House/Office)" we attempt there-dispatch to the customer within 10 days from the date of receipt of Policy document at our office).

    • QWhy am I not able to resume my application on the website?

      We apologize for the inconvenience. You can resume your application with your e quote number. In case if you are disconnected due to any reason out of the process before the E-quote no generation, you can't reach to the same screen.

    • QIf due to some reason (browser closed, power failure, system shutdown, virus,) my application did not get completed. What should I do? Do I need to start all over again?

      You can resume your application with your E- Quote number. In case if you are disconnected due to any reason out of the process before the E-quote no generation, you can't reach to the same screen.

    • QIs my personal information safe on your website?

      Yes. We've taken several steps to ensure all information received from our online visitors is secure from unauthorized access and use. All transactions are completed on a secured server. In addition, we do not store any credit card information and no credit card information is stored in our website or accessible through our website. t ordering

    • QWhat is the minimum resolution for scanned documents?

      The minimum resolution for scanned documents is 200 dpi in Black & White. Furthermore, they should readable/viewable format

    • QCan I apply using a smart phone or a tablet? Which devices are supported?

      Currently, compatibility with Smart phones, mobile browsers is not supported.

    • QWhat is maximum file size of the documents that can be uploaded?

      Ideally, file size should be between 100-200KB, but not exceed 1 MB in any case. However, the upload speed will depend on the user's internet bandwidth,

    • QWhat operating system is compatible?

      Our website is compatible with browsers in all operating system.

    • QImportant Definitions and Exclusions:

      Life Assured:

      The policyholder. In this plan, the policyholder and the premium payor are the same. In case of the primary life assured pre-deceasing the spouse (if spouse cover is opted for), the spouse can become the policyholder and premium payor to the extent of the spouse benefit only; he or she cannot change any of the options chosen at policy inception.

      Increasing Cover:

      Sum Assured for the Life Assured increases by 25% after completion of every 5th Policy Year throughout the Policy Term subject to a maximum of 100% of the original Sum Assured (i.e. the last increase in Sum Assured would happen after completion of 20th Policy Year), and the Sum Assured thereafter would remain same. The Sum Assured for the Life Assured under this option will increase as per the following table:

      Death in Policy Year Sum Assured for the Life Assured (as a % of Sum Assured)
      1 – 5 100%
      6 – 10 125%
      11 – 15 150%
      15 – 20 175%
      21 onwards 200%

      Spouse Sum Assured (if any) and Accidental Death Benefit will not increase and continue at the same level throughout the Policy Term.

      Spouse Cover:

      This is an optional cover of Rs. 25 lakh on the life of the spouse of primary life assured (you), for the same outstanding policy term. Terminal illness is also covered under this option. The death/ terminal illness benefit under this cover will always be payable as a lump sum. In case of the death/ diagnosis of terminal illness of the primary life assured, the spouse cover will continue, subject to regular payment of (reduced) premiums. No optional covers can be taken up by the spouse. Only one spouse can be covered under this option.

      The primary life assured (you) cannot opt out of the spouse cover option once chosen except in case of divorce which should be substantiated by adequate documentation to the satisfaction of the Company. In such a case, where the primary life assured discontinues paying the premiums for Spouse cover, the divorced spouse has the option to pay the premium for his/ her sum assured and thus continue with the Spouse Cover benefits.

 
 
 

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