The policyholder has to submit completely filled Application form proposal form with accurate medical history along with the required KYC documents and the address proof. In some cases the insured might be asked to go for a medical examination, based on the sum assured and the age of the person.
Frequently Asked Questions
Q. What are the saving benefits under this plan?
The insured is provided a regular fixed addition of:
8% in the 1st year
9% in the 2nd year
10% yearly from 3rd year onwards
Q. What are the details of the rider covers available under this plan?
The insured has the benefit to customize his plan with additional rider covers at affordable premium amounts as below:
Term Life Insurance Benefit Rider:
This rider cover provides additional death benefit based on the sum assured as chosen under the rider.
Major Surgical Benefit Rider:
This rider offers a lump sum amount to cover the expenses on surgeries from the list of 33 varied surgeries which also includes open heart surgery, cornea transplantation, kidney transplantation, lungs transplant, etc.
This rider option gives a lump sum benefit amount to cover 25 critical conditions which includes cancer, paralysis, heart attack, major organ transplant, etc.
Family Income Benefit Rider:
This additional rider cover provides a monthly benefit of 1% of the sum assured amount which is a 12% p.a. This benefit is paid from the date of death till the date of death till the end of the rider policy term or 10 years whichever is later, in the event of death / total and permanent disability due to accident or sickness, before plan maturity.
Accidental Death and Total Permanent Disablement Rider:
This rider provides additional death or disability benefits if the death or disability happens directly in the event of an accident. Also, the waiver of premium benefits under the rider continues in the plan in case of disability.
Q. What are the provisions of premium payment mode?
The insured has the option to pay his premiums either Monthly, Quarterly, Half Yearly, Yearly modes are allowed only if premiums are paid electronically. For the monthly premium payment mode, first 2 months of premiums will be collected in advance at the time of the plan.
Q. What are the provisions of change of policy term or premium payment term?
The plan term and premium payment term cannot be changed after the commencement of the policy.
Q. What is the special surrender value under the plan?
The special surrender value shall be based on the expected present value of Guaranteed Sum Assured on maturity and expected present value of Accrued Fixed Regular Additions applicable at the time of surrender. The surrender value provided are based on several factors as approved by IRDA, from time to time and shall be provided on request of the policyholder..
Bajaj Allianz Health Care Supreme Insurance