Part A

<<Date>>
<<Policyholder’s Name>>
<<Policyholder’s Address>>
<<Policyholder’s Contact Number>>

Dear <<Policyholder’s Name>>,

Sub: Your Policy no. << >>- HDFC Life Classic One

We are glad to inform you that your proposal has been accepted and the HDFC Life Classic One (“Policy”) being this Policy, has
been issued. We have made every effort to design your Policy Document in a simple format. We have highlighted items of importance
so that you may recognise them easily.

Policy document:
As an evidence of the insurance contract between HDFC Life Insurance Company Limited and you, the Policy Document is
enclosed herewith. Please preserve this document safely and also inform your Nominees about the same. A copy of your proposal
form is also enclosed for your information and record.

Cancellation in the Free-Look Period:

In case you are not agreeable to any of the provisions stated in the Policy Document, you have the option to return the Policy to us
stating the reasons thereof, within 15 days from the date of receipt of the Policy Document. If you have purchased your Policy through
Distance Marketing mode, this period will be 30 days. On receipt of your letter along with the original Policy Document, we shall
arrange to refund you the value of Units allocated to you minus value of Units allocated as Special Joining Addition on receipt of
request plus the unallocated part of Premium plus Charges levied by cancellation of Units, subject to deduction of the proportionate
risk charges for the period on cover and the expenses incurred by us for medical examination (if any) and stamp duty, (if any).

Contacting us:
The address for correspondence is specified below. To enable us to serve you better, you are requested to quote your Policy number
in all future correspondence. In case you are keen to know more about our products and services, we would request you to talk to
our Certified Financial Consultant (Insurance Agent) who has advised you while taking this Policy. The details of your Certified
Financial Consultant including contact details are listed below. In case you are keen to know more about our products and services,
please call us on our toll-free number 1800 266 9777 or email us @ onlinequery@hdfclife.in. You can also get in touch with us via
social media: https://plus.google.com/+hdfclife/
https://www.youtube.com/user/hdfclife10
http://www.linkedin.com/company/19117
https://twitter.com/HDFClife
https://www.facebook.com/HDFClife

To contact us in case of any grievance, please refer to Part G. In case you are not satisfied with our response, you can also approach
the Insurance Ombudsman in your region. Thanking you for choosing HDFC Life Insurance Company Limited and looking
forward to serving you in the years ahead,

Yours sincerely,
<< Designation of the Authorised Signatory >>

Branch Address: <<Branch Address>>

Agency Code: <<Agency Code>>
Agency Name: <<Agency Name>>
Agency Telephone Number: <<Agency mobile & landline number>>
Agency Contact Details: <<Agency address>>

Address for Correspondence: HDFC Life Insurance Company Limited, 11th Floor Lodha Excelus, Apollo Mills Compound,
N.M. Joshi Marg, Mahalaxmi, Mumbai-400011.
Registered Office: HDFC Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Mills Compound, Mahalaxmi, Mumbai-
400011. Call 1860-267-9999 (local charges apply). DO NOT prefix any country code e.g. +91 or 00. Available Mon-Sat from 10 am to
7 pm | Email – service@hdfclife.com | NRIservice@hdfclife.com (For NRI customers only) Visit – www.hdfclife.com. CIN:
L65110MH2000PLC128245.
Helpline number: 18602679999 (Local charges apply)
 POLICY DOCUMENT- HDFC Life Classic

A Unit Linked Non Participating Single Premium Life Insurance Plan

Unique Identification Number: << 101L132V01 >>

ALL UNIT LINKED POLICIES ARE DIFFERENT FROM TRADITIONAL INSURANCE POLICIES AND ARE SUBJECT
TO DIFFERENT RISK FACTORS. IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS
BORNE BY THE POLICYHOLDER.

Your Policy is a Unit Linked Non Participating Single Premium Life Insurance Policy. This document is the evidence of a contract
between HDFC Life Insurance Company Limited and the Policyholder as described in the Policy Schedule given below. This Policy is
based on the Proposal made by the within named Policyholder and submitted to the Company along with the required
documents, declarations, statements, << any response given to the Short Medical Questionnaire (SMQ) by the Life Assured >>, <<
applicable medical evidence and other information >> received by the Company from the Policyholder, Life Assured or on behalf of
the Policyholder (“Proposal”). This Policy is effective upon receipt and realisation, by the Company, of the consideration payable as
Single Premium under the Policy. This Policy is written under and will be governed by the applicable laws in force in India and all
Premiums and Benefits are expressed and payable in Indian Rupees.

POLICY
Policy number: <<
>> Client ID: << >>
Policyholder Details
Name << >>
Address << >>

Life Assured Details

In case of Joint Life Coverage, second Life Assured details
Name << >> Name << >>
Address << >> Address << >>
Date of Birth << dd/mm/yyyy >> Date of Birth << dd/mm/yyyy >>
Age on the Date of Risk Age on the Date of Risk
<< >> years << >> years
Commencement Commencement
Age Admitted <<Yes/No>> Age Admitted <<Yes/No>>

Policy Details
Type of Coverage <<Single Life Coverage/Joint Life Coverage>>
Date of Commencement of Policy <<Date>>
Date of Risk Commencement << Risk Commencement Date >>
Date of Inception << First Issue Date>>
Sum Assured Rs. << >>
Premium Paying Term Single
Single Premium Rs. << >>
Policy Term << >>
Expiry Date of Lock-in Period << 5 years from Date of Risk Commencement >>
Maturity Date << dd/mm/yyyy >>

NOMINATION SCHEDULE
Nominee’s Name <<Nominee-1 >> <<Nominee-2 >>
Nominee’s Relationship with the
<< >> << >>
Life Assured
Date of Birth of Nominee << dd/mm/yyyy >> << dd/mm/yyyy >>
 Nominee’s Age << >> years << >> years
Nomination Percentage << >> % << >> %
Nominee's Address << >> << >>
Appointee’s Name
<< >>
(Applicable where the Nominee is a minor)
Date of Birth of Appointee << dd/mm/yyyy >>
Appointee's Address << >>

Signed at Mumbai on <<>>

For HDFC Life Insurance Company

Limited Authorised Signatory

Note: Kindly note that name of the Company has changed from "HDFC Standard Life Insurance Company Limited" to "HDFC
Life Insurance Company Limited".

In case you notice any mistake, you may return the Policy document to us for necessary
correction.

SPACE FOR ENDORSEMENTS

 Part B 34) Top up Premium - means any additional premium (other than Single Premium)
paid under the Policy in accordance with Part D Clause 2 below.
In(Definitio
this Policy, the following definitions shall be applicable: 35) Top up Sum Assured - means the additional sum assured in respect of Top up Premium,
1) Appointee - means the person named by you and registered with us in accordance calculated in accordance with Part D Clause 2 below.
with
the Nomination Schedule, who is authorised to receive the Death Benefit under this 36) Underwriting – means the process of assessment of risk to determine the conditions
under which the risk can be accepted on the proposed life assured;
Policy on the death of the Life Assured (and in case of Joint Life Coverage, on the
death of the second Life Assured) while the Nominee is a minor; 37) Units - means a specific portion or a part of the underlying segregated unit linked Fund
2) Assignee - means the person to whom the rights and benefits under this Policy are which is representative of the Policyholder’s entitlement in such Funds i.e. the number
transferred by virtue of assignment under Section 38 of the Insurance Act, 1938 as of Units that are allocated basis applicable Unit Prices and amount of Premium net of
amended from time to time; Charges;
3) Assignment – means a provision wherein the Policyholder can assign or transfer a Policy 38) Unit Price - means the Net Asset Value (NAV) per Unit of the investment linked Fund.
in accordance with Section 38 of the Insurance Act, 1938 as amended from time to time;
4) Authority/ IRDAI – means Insurance Regulatory and Development Authority of India;
5) Charges - means or refers to Premium Allocation Charge, Policy Administration
Charge, Fund Management Charge, Mortality Charge, Partial Withdrawal Charge,
Discontinuance Charge and Statutory Charges. Taxes will be applicable on the Charges
additionally in accordance with applicable laws;
6) Company, company, Insurer, Us, us, We, we, Our and our – means or refers to HDFC
Life Insurance Company Limited;
7) Cut-off time - Is the time by which we must have received your instructions to invest in,
or encash Units from a Fund, for us to invest in or encash Units at the associated
valuation time. As per Regulations, the current Cut-off time is 3.00 p.m;
8) Date of Inception – means the date, as stated in the Policy Schedule, on which the Policy
is first issued;
9) Date of Risk Commencement - means the date, as stated in the Policy Schedule, on which
the insurance coverage under this Policy commences;
10) Death Benefit - means the amount which is payable on death of Life Assured in
accordance with Part C.
11) Deposits - means deposits issued by Banks included in the Second Schedule to the
Reserve Bank of India Act 1934 as amended from time to time, or a Primary Dealer duly
recognised by Reserve Bank of India as such. (IRDAI (Investment) Regulation 2016,
Section 3 (b) (3) as amended from time to time);
12) Distance Marketing - includes every activity of solicitation (including lead generation)
and sale of insurance products through the following modes: (i) Voice mode, which
includes telephone-calling; (ii) Short Messaging service (SMS); (iii) Electronic mode
which includes e-mail, internet and interactive television (DTH); (iv) Physical mode
which includes direct postal mail and newspaper & magazine inserts; and, (v)
Solicitation through any means of communication other than in person
13) Funds - means each of the Funds earmarked by the Company for Unit Linked business
and available to this product;
14) Fund Value, Unit Fund Value - means the value obtained by multiplying the number of
Units allocated to your Policy by the corresponding price of the Units;
15) Life/Lives Assured - means the person(s) as stated in the Policy Schedule on whose
life/lives the contingent events have to occur for the Benefits to be payable. The
Life/Lives Assured may be the Policyholder(s);
16) Lock-in Period - means a period of five years from the Date of Risk Commencement;
17) Maturity Benefit - Maturity Benefit means the amount payable on the Maturity Date in
accordance with Part C.
18) Maturity Date - means the date stated in the Policy Schedule, on which the Policy Term
expires and this Policy terminates;
19) Minor – means for purpose of this Policy any person who is below 18 years of age;
20) Money Market Instruments - means as given in the IRDAI (Investment) Regulations,
2016 as amended from time to time;
21) Nominee(s) – means the person named by you when you are the Life Assured, and such
person shall be registered with us in accordance with the Nomination Schedule, and
shall be authorized to receive the Death Benefit under this Policy, on the death of the
Life Assured (and in case of Joint Life Coverage, on the death of the last Life Assured);
22) Policy Anniversary - means the annual anniversary of the Date of Risk Commencement;
23) Policy document – means this contract of insurance including the Schedule which has
been issued on the basis of the Proposal Form, other representations and documents
submitted by You and/or the life assured and including the endorsements issued by Us.
24) Policyholder, You, you, your - means or refers to the Policyholder stated in the Policy
Schedule; In case of Joint Life Coverage, means or refers to the first Life Assured stated
in the Policy Schedule and upon his/her death, shall mean the second Life Assured stated
in the Policy Schedule.
25) Policy Term - means the term of the Policy as stated in the Policy Schedule;
26) Premium(s) - means an amount stated in the Policy Schedule, payable by you to us for
every Policy Year by the due dates, and in the manner stated in the Policy Schedule, to
secure the benefits under this Policy, excluding applicable taxes, cesses or levies;
27) Premium Paying Term - means the period as stated in the Policy Schedule, in years, over
which Premiums are payable;
28) Proposer - means or refers to person who submits an application for insurance;
29) Regulations - means IRDAI (Linked Insurance Products) Regulations, 2013;
30) Schedule - means the latest schedule (including any endorsements) we have issued in
connection with this Policy.
31) Surrender - means complete withdrawal/ termination of the entire Policy;
32) Surrender Value - means an amount, if any, that becomes payable in case of Surrender
of the Policy in accordance with the terms and conditions of the Policy;
33) Sum Assured - means an absolute amount of benefit which is guaranteed to become
payable on death of the Life Assured (and in case of Joint Life Coverage, on the death
of the last Life Assured) in accordance with the terms and conditions specified of the
Policy;
 Part (1) The Single Premium must be paid along with the submission of your completed
1 Bene application.
(1) Maturity Benefit - On survival of the Life Assured (and in case of Joint Life (2) Where the Premium has been remitted otherwise than in cash, the application of
Coverage, upon survival of at least one of the Lives Assured) till the Maturity Date, the Premiums received is conditional upon the realization of the proceeds of the
the Maturity Benefit shall be the Unit Fund Value payable as lump sum or as instrument of payment, including electronic mode.
provided under Part D Clause 4, if the Policyholder has availed the settlement 5 Non-negative Claw-back Additions
option. To be calculated as per the relevant IRDAI guidelines issued from time to time.
Upon payment of the Maturity Benefit, the Policy shall terminate and no further Currently, the applicable guideline is Section 37 (d) of the Regulations which states
(2) Death Benefit - On death of the Life Assured (and in case of Joint Life Coverage**, the following:
the death of both Lives Assured) before the Maturity Date, the Death Benefit, In the process to comply with the reduction in yield, the Company may arrive at
payable specific non-negative claw-back additions, if any, to be added to the Unit Fund
The “SumasAssured
lump sum, shall be
on Death” “Sum
shall be Assured
highest ofonthe
Death”.
following: applicable, at various durations of time after the first five years of the Policy.
(i) Total Sum Assured less an amount* for Partial withdrawals made, if any (as
detailed below), where “Total Sum Assured” is Basic Sum Assured plus Top Up
Sum Assured or
(ii) Total Fund Value, where “Total Fund Value” is Single Premium Fund Value plus
Top-Up Premium Fund Value, or
(iii) 105% of Total Premiums paid, where “Total Premiums” paid is Single Premiums
plus Top-up premiums paid, subject to Part D Clause 2.
*The Partial Withdrawals to be deducted from the Total Sum Assured shall be:
(a) For death before attainment of age of 60 years- all Partial Withdrawals (except
from the Top-up Fund Value) made during the two year period immediately
preceding the date of death of the Life Assured
(b) For death on or after attainment of age of 60 years- all Partial Withdrawals (except
from the Top-up Fund Value) made after attainment of age of 58 years of the Life
Assured.
For Joint Life Coverage Variant, age of the last survivor shall be considered.

The Death Benefit is subject to the exclusions set out in Part F Clause 1
(Exclusions) Upon the payment of the Death Benefit, the Policy shall terminate
and no further Benefits shall be payable.
**In addition, upon the death of the first of the two Lives Assured, the Fund Value
shall be set to be higher of 125% of Single Premium or balance in the Unit Fund.

For Joint Life coverage variant, in case of death of one of the Lives Assured, the
surviving Life Assured will have an option to either:
a) Option 1 - fully withdraw the amount and continue the Policy with the coverage
as per the Policy provisions; or
b) Option 2 - not withdraw any amount and continue the Policy with the coverage
as per the Policy provisions
If the surviving Life Assured opts for Option 1, then a lump sum Mortality Charge
shall be deducted from the Fund Value towards future mortality cover to be provided
to the surviving Life Assured. The restriction of withdrawal during the Lock-In Period
shall not apply in this case.
This lump sum Mortality Charge shall be determined as a present value of future
Mortality Charges discounted at the prevailing 10-yr Gsec yield less 2%.
The source of yield on bonds is ccilindia (https://www.ccilindia.com/OMMWCG.aspx)

(3) Loyalty Additions – Loyalty Additions will be allocated between the Funds in the same
proportion as the value of total Units held in each Fund at the time of allocation.
Loyalty Addition = Max [(Premium Allocation Charge + Policy Administration Charge
deducted till date), 5% × Single Premium).
The charges considered for Loyalty Additions shall exclude taxes and levies, if any.
Loyalty Additions will be allocated as extra units at the end of the 10th Policy year
provided the Policy is in force and no Partial Withdrawals have been exercised.
Loyalty additions once added to the fund are irreversible. The policyholder is eligible
to make Partial Withdrawals in subsequent years and the already allocated loyalty
additions would be a part of the fund value, which would be paid at maturity.
2. The recipients of Benefits under this Policy shall be as specified below:
(i) Death Benefit shall be payable to the registered nominee(s), if the Policyholder
and the Life Assured are the same; or to the Policyholder if the Life Assured is
other than the Policyholder.
(ii) All other Benefits shall be payable to the Policyholder provided the Policyholder
is alive.
(iii) If the Policy has been assigned, all Benefits shall be payable to the Assignee under
absolute assignment.
(iv) In case of any unique situation or doubt the Company’s decision will be final and
binding.
3. Vesting of Policy:
(i) If the Life Assured is less than 18 years of age on the Date of Commencement of
Policy then, immediately and automatically upon the Life Assured attaining 18
years of age:
(a) The Policy shall vest in the Life Assured;
(b) The Life Assured shall solely become entitled to exercise any and all
rights of the Policyholder in relation to the Policy; and
(c) The Life Assured shall solely become entitled to accept and obliged to
discharge any and all obligations of the Policyholder under this Policy.
(ii) If You die when the Life Assured is less than 18 years of age, the Policy shall, on
the submission of the necessary application and supporting documents as required
by Us, vest in the surviving parent/legal guardian of the Life Assured.

4. Payment and cessation of Premiums

Part D (iii) The Fund Value on the Maturity Date is greater than or equal to Rs. 1 Lakh.
1. Surrender
(iv) The risk cover ceases and the Fund continues to be invested during this period.
(1) Policy may be surrendered at any time.
(v) The only charge levied on the Fund during the settlement period is the Fund
(2) If the Policy is surrendered before the completion of five Policy years, the Total Fund
Management Charge.
Value after deducting Discontinuance Charges will be moved to the Discontinued
(vi) The Policyholder will be unable to exercise any Partial Withdrawals or Switches
Policy Fund which will earn a minimum guaranteed interest rate as specified by
during the settlement period.
IRDAI. Presently such interest rate is 4% p.a. A Fund Management Charge of 0.50%
(vii) During the settlement period, the Policyholder shall have an option to withdraw
p.a., charged daily, will be levied on the ‘Discontinued Policy Fund’. The amount
the Total Fund Value at any time without being levied any charge.
allocated to the Discontinued Policy Fund, with accrued interest, will be paid out to the
5. Fund Switches
Policyholder, or Nominee if applicable, on completion of the Lock-in Period. Upon
The Policyholder has an option to switch his/her investment or a part thereof from one
payment of this Benefit, the Policy terminates and no further Benefits are payable.
Fund to another Fund(s) during the Policy Term. Switching between Funds is allowed
(3) If the Policy is surrendered on or after the completion of the five Policy years, the
for unlimited number of times.
Total Fund Value will be payable. Upon payment of this Benefit, the Policy terminates
6. Loans
and no further Benefits are payable.
There is no facility of loan available from us under this Policy.
(4) In case of death of the Life Assured (and in case of Joint Life Coverage, on the death
7. Free Look Cancellation
of the last Life Assured) before the Surrender Benefit has been paid, we will pay the
In case you are not agreeable to any of the provisions stated in the Policy, you have the
amount in the Discontinued Policy Fund to the Nominee immediately on receipt of all
option to return the Policy to us stating the reasons thereof, within 15 days from the
relevant documents in support of the claim. Upon such payment, the Policy terminates
and no further Benefits are payable. date of receipt of the Policy. If you have purchased your Policy through Distance
2. Top-Up Premiums Marketing mode, this period will be 30 days. On receipt of your letter along with the
The Policyholder has the option of paying Top-up premiums, subject to the following original Policy, we shall arrange to refund you the value of Units allocated to you
conditions: minus value of Units allocated as Special Joining Addition on receipt of request plus
(i) Top-up premiums are not permitted during the last 5 years of the Policy Term. the unallocated part of Premium plus charges levied by cancellation of Units, subject to
(ii) The Total Top-up Premiums cannot exceed the initial Single Premium paid. deduction of the proportionate risk charges for the period on cover and the expenses
incurred by us for medical examination (if any) and stamp duty (if any).
8. Change of address and contact details
The amount of Top up Premium paid shall determine the Top up Sum Assured. The
In case of change of address, the Policyholder is required to provide timely intimation
Top up Sum Assured shall be calculated as follows:
to the Company supported by the required address proofs to enable the Company to
Age at the time of payment of Top- Single Life Coverage Joint Life Coverage
carry out the change of address in its systems. The onus of intimation of change of
up premium variant variant
address lies with the Policyholder. An updated contact detail of the Policyholder will
1.25 Top-up ensure that correspondences from the Company are correctly addressed to the
less than 45 years 10 x Top-up Premium
Policyholder at the latest updated address.
x
Premium
1.10 x Top-up
greater than or equal to 45 years Premium 10 x Top-up Premium

3. Partial Withdrawals
(1) The Policyholder has the option of making Partial Withdrawals, subject to all the
following conditions:
(i) Partial Withdrawals shall not be allowed within the first 5 Policy Years
(ii) The Life Assured (at least one of the two in case of Joint Life Coverage) is at least
18 years of age
(iii) The minimum Partial Withdrawal amount is Rs. 10,000 (Rupees Ten Thousand
only)
(iv) The Fund Value after any Partial Withdrawal and any applicable Charges
(including applicable Taxes and levies) is not less than the 25% of the single
Premium
(v) The maximum amount of Partial Withdrawals that can be done throughout the
Policy Term from the Fund Value built up from the Single premium is 50% of the
Single Premium.
(vi) Partial Withdrawals shall be allowed from the Total Fund Value built up from the
Top-up premiums, if any, as long as such Total Fund Value supports the Partial
Withdrawal and subsequently, the Partial Withdrawals shall be allowed from the
Fund value built up from the Single premium.
(vii) Top-up premiums once paid cannot be withdrawn from the fund for a period of 5
years from the date of payment of the Top-up premium, except in case of complete
Surrender of the Policy.
(2) Following a Partial Withdrawal, the Policy continues to be in-force and all benefits
under Part C Clause 1 and conditions remain unaltered.
(3) We will deduct any tax and/or levies from any amount payable to you, if we are
required to do so by the relevant authorities.

4. Settlement Option
The Policyholder can avail the settlement option for maturity benefit, subject to the
following conditions:
(i) The Policyholder has the option to take the Fund Value in periodical instalments
over a settlement period of 5 years. The first instalment shall be payable on the
Maturity Date
(ii) The Policyholder shall be given a choice to decide the payout frequency and the
settlement period at the time of opting for settlement option. The payout frequency
and the settlement period once selected cannot be altered at any time. The units will
be redeemed systematically during the settlement period. This is illustrated further
with 3 examples.

Proportion of
units redeemed
Total
Payout Settlement per instalment
Example number of
frequency period (% of number
instalments
of units at
Maturity
Date)
1 Annual 4 years 4 25%
2 Quarterly 1 year 4 25%
Semi-
3 annual 5 years 10 10%
 Part E b) Balanced Fund
1. Charges:
The Balanced Fund aims to generate high returns through a dynamic allocation of
(1) Premium Allocation Charge:
investments in Debt and Equity Instruments so as to combine the stability of
The table below provides Premium Allocation Charge (as a percentage of Premium)
Debt instruments with the long term capital appreciation potential of Equities.
Premium type Premium Allocation Charge (as a c) Blue Chip Fund
percentage of Premium)
The Blue Chip Fund aims to provide medium to long term capital appreciation by
Single Premium 2%
Top-up Premium 1% investing in a portfolio of predominantly large cap companies which can
perform through economic and market cycles. The Fund will invest at least
This charge shall be levied at the time of receipt of Premium and is exclusive of
80% of its assets in companies which have a market capitalization greater than
applicable taxes and levies, if any.
the company with the least weight in BSE100 index. The Fund may also invest
(2) Policy Administration Charge:
up to 20% in Money Market Instruments/Cash and Deposits.
The Policy Administration Charge for this Policy is 0.04% of the Single Premium per
d) Opportunities Fund
month subject to a cap of Rs. 500 per month. This charge may be increased subject to
The Fund aims to generate long term capital appreciation by investing
prior IRDAI approval. This charge shall be deducted monthly by cancellation of Units.
predominantly in mid cap stocks which are likely to be the blue chips of
This Charge is exclusive of applicable taxes and levies, if any.
tomorrow. The Fund will invest in stocks which have a market capitalization
(3) Fund Management Charge:
equal to or lower than the market capitalization of the highest weighted stock in
The Fund Management Charge is 1.35 % p.a. of the Fund Value which will be charged
the NSE CNX Midcap Index. The Fund may also invest up to 20% in Money
daily. This charge can be increased to the maximum cap as allowed by IRDAI from
Market instruments/Cash and Deposits.
time to time, subject to prior approval from IRDAI. Currently, the maximum cap on
e) Equity Plus Fund
this charge is 1.35% p.a. The Fund Management Charge for Discontinued Policy Fund
The Equity Plus Fund aims at least 80% of the equity exposure to be limited to
shall be 0.50% of the Fund Value per annum. This Charge is exclusive of applicable
Nifty constituent stocks at any point in time and the balance of the equity
taxes and levies, if any.
exposure in non-Nifty constituent stocks.
(4) Mortality Charge:
f) Diversified Equity Fund
Mortality charge is calculated as the Sum at Risk multiplied by the appropriate mortality
The Diversified Equity Fund aims to generate long term capital appreciation by
charge rate. This charge will be deducted monthly by cancellation of Units. Sum at Risk
investing in high potential companies across the market cap spectrum while taking
will be calculated as given below:
active asset allocation calls in Equity, government securities, Money Market
Instruments, Cash etc.
For Single Life Coverage, Sum at Risk (SARSL) shall be calculated as Sum Assured on
g) Bond Fund
Death less Total Fund Value. The Bond Fund aims to dynamically manage the allocation between government
securities, Fixed Income instruments, Money Market instruments and Cash with
For Joint Life Coverage, there shall be two Sums at Risk. the intent to dynamically manage the duration at a level that delivers superior
The first Sum at Risk (SARJL1) shall be Max [1.25 times Single Premium less Total risk adjusted returns.
Fund Value, 0] and Nil after first death. h) Conservative Fund
The second Sum at Risk (SARJL2) shall be Max [10 times Single Premium less Total The Conservative Fund is a pure Debt Fund which invests in Government
Fund Value, 0]. securities, high grade Fixed Income Instruments, Liquid Mutual Fund and
Money Market Instruments. The fund aims to deliver stable returns by
MC1 shall apply on first Sum at Risk (SARJL1) and MC2 shall apply on second Sum at investing in the short end of the yield curve to limit the volatility and risk of the
Fund.
Risk (SARJL2).
i) Discovery Fund
The Fund aims to deliver long term growth of capital by investing predominantly
The Mortality Charge rates for Single Life and Joint Life Coverage (i.e., MC1 and in mid-cap companies. The fund will invest up to 100% in mid-cap stocks which
MC2) are provided in Appendix 2. are defined as stocks with market cap falling within the market capitalisation
range in the underlying benchmark Nifty free float midcap index (getting
renamed as Nifty Midcap 100 index). The fund can also invest up to 25% of the
(5) Discontinuance Charge:
portfolio in stocks falling outside the mid-cap index market cap range. The fund
The Discontinuance Charge for this Policy shall be as follows.
may also invest up to 10% of the portfolio in fixed income instruments, money
Where the Policy is discontinued market instruments, cash, deposits and liquid mutual funds.
during the Policy year Discontinuance Charge
Notes:
Lower of 1% * (SP or FV) subject to (1) Investment in Derivatives
1 maximum of Rs.6,000/- All the above Fund(s) may also invest in Interest Rate derivatives such as Interest Rate
Lower of 0.5% * (SP or FV) subject to Swaps, Forward Rate agreements and such other derivative instruments as may be
2 maximum of Rs.5,000/- introduced from time to time in the markets for the purpose of hedging and portfolio
Lower of 0.25% * (SP or FV) subject to yield enhancement and other uses as may be permitted under the IRDAI regulations
3 maximum of Rs.4,000/- and guidelines.
Lower of 0.1% * (SP or FV) subject to (2) You can, through a secured login, access the value of policy wise units held by you in
4 maximum of Rs.2,000/- the format as per Form D02 prescribed under IRDAI Investment Regulations, 2016.
5 and onwards NIL (3) Unit Prices will be published on the Company’s website, on the Life Insurance
SP – Single Premium; FV – Fund Value on the date of discontinuance Council’s Website and in leading national dailies
(4) The Unit Price of a unit linked Fund shall be computed as:
This Charge will be deducted by cancellation of Units. No Discontinuance Charge is a) Market Value of investment held by the Fund plus the value of any current assets
imposed on Top-Up premiums. This Charge can be changed by us subject to the less the value of any current liabilities & provisions, if any
maximum cap allowed by IRDAI from time to time and upon the prior approval from b) Divided by the number of Units existing at the valuation date (before any Units
IRDAI. are redeemed or created)
(6) Statutory Charge: The resulting price will be rounded to the nearest Re. 0.0001.
Tax and other levies as applicable from time to time shall be charged, as per the (5) Your Premium is utilised to purchase Units of investment linked Funds for the Policy.
prevailing tax laws. In any investment linked Fund, all Units are of equal value. You will not hold the
(7) Partial Withdrawal Charge: Units directly and the assets of each Fund will belong to us.
The Policyholder will not be charged for the Partial Withdrawal requests. (6) The assets that the Funds invest in will be selected by us at our sole discretion at all
(8) Fund Switch Charge: times.
The Policyholder will not be charged for the Fund Switch requests. (7) We may close, withdraw, modify, split or combine Funds or introduce new Funds with
prior approval from the Insurance Regulatory and Development Authority of India, if
2. Fund Details required. ‘Withdraw’ means no further payments will be accepted into the Fund, while
(1) The Policyholder may choose to invest in one or more of the following Funds in the any existing Units held in the Fund will continue to be allocated. ‘Close’ means We
desired proportion and can change the allocation during the Policy Term. Appendix – 1 will encash all the Units, which exist for a Fund and terminate the Fund.
to the Policy enumerates investment pattern in the tabular format. (8) We will not allocate Units in any investment-linked Fund unless assets equivalent to
a) Income Fund those Units are added at the same time to the Fund. We will also not withdraw assets
The Income Fund aims to provide superior returns through investments in high from any such Fund (except to meet the deductions described below in this Clause)
credit quality Debt instruments while maintaining an optimal level of interest unless Units equivalent to those assets are cancelled at the same time. Units will only
rate risk. In addition up to 20% of the Fund may be invested in cash and Money be cancelled in any such Fund under the terms as specified in this Part E, and assets
Market Instruments, Liquid Mutual Funds and Deposits to facilitate the day-to- equivalent to the cancelled Units will be withdrawn from the same Fund at the same
day running of the Fund. Fund management would involve continual monitoring time.
and credit evaluations with rigorous buy and sell disciplines to maximize (9) We will add the income from the assets of an investment linked Fund to that Fund.
upside potential and manage downside risk. (10)We can deduct from the assets of an investment linked Fund the amounts that are
required to cover:
 a) expenses, taxes and levies in respect of or due to the buying and selling of Units
b) part or all of any taxes and levies or other statutory/regulatory charge on us
allocated to the Fund; and
c) the applicable Charges.
(11)Risks of Investment in the Funds:
a) In this policy, the investment risk in the investment portfolio is borne by the
policyholder.
b) Unit Linked Life Insurance products are different from the traditional insurance
products and are subject to the risk factors.
c) The premium paid in Unit Linked Life Insurance policies are subject to investment
risks associated with capital markets and the NAVs of the units may go up or
down based on the performance of fund and factors influencing the capital market
and the insured is responsible for his/her decisions.
d) HDFC Life Insurance Company Limited is only the name of the Insurance
Company, HDFC Life is only the name of the brand and HDFC Life Classic One
is only the name of the unit linked life insurance contract. The name of the
company, name of the brand and name of the contract does not in any way indicate
the quality of the contract, its future prospects or returns.
e) Please know the associated risks and the applicable charges, from your Insurance
agent or the Intermediary or policy document of the insurer.
f) The various funds offered under this contract are the names of the funds and do
not in any way indicate the quality of these plans, their future prospects and
returns. Past performance of the Fund Options is not indicative of future
performance.
3. Applicability of Unit Prices and Unit Encashment Conditions
(1) Where we receive transaction requests before the Cut-Off Time prescribed by IRDAI
(current Cut-Off Time is 3 p.m.), Units will be allocated the same day’s NAV and
those received after the Cut-Off Time will be allocated the next day’s NAV. If the date
of transaction request is not a valuation date, NAV of the immediately succeeding
valuation date will be applicable.
(2) The unit pricing formula and the Cut-Off Time shall be as specified by Regulations.
Presently, the unit pricing formula is as follows:

Market Value of investment held by the fund+

value of current assets-
(value of current liabilities and provisions if any)
NAV= Number of Units existing on the valuation date
(before creation or redemptionof units)

(3) The resulting price will be rounded to the nearest Rs. 0.0001. This price will be
published on the Company’s website and the Life Insurance Council Website.
(4) The aforesaid is subject to Force Majeure, as mentioned under Clause 7 of Part F of
this Policy.
 APPENDIX – 1
Investment Pattern in tabular format

instruments, money market

instruments, cash, deposits
and Liquid mutual funds.

income

10% of the fund may be

invested in Fixed
 Note: Investment in (v) The Systematic Transfer Plan will be regularly processed for the Policyholder till
Deposits will be in the Company is notified, through a written communication, to discontinue the
line with the IRDAI same. Systematic Transfer Plan will not apply if the source Fund Value is less than
regulations and the chosen transfer amount.
guidelines. The (vi) No additional charges apply on selecting Systematic Transfer Plan
current limit for The asset allocation for the Discontinued Policy Fund
investment in Asset Class (SFIN:ULIF05110/03/11DiscontdPF101) shall be as per the prevailing regulatory
Deposits is 0 – 5% Money Govt. Equ Ri requirements. Currently, the asset allocation is as follows:
Investment in Market Securit ity sk (i) Money Market Instruments: 0% to 40%
Mutual Funds will Instrum ies, & (ii) Government Securities: 60% to 100%.
Fund be made as per ents, Fixed Re
Nam Mutual Fund limits Cash & Income tur
SFIN Deposit Instru
e prescribed by n
Detail s, ments
IRDAI regulations Ra
s Liquid &
and guidelines. As tin
per (IRDAI Mutual Bonds g
(Investment) Funds
Regulations, 2016 Fund Composition
Equit ULIF053 To generateCircular)
Master long term 0% to 0% to 80 Ve
y 01/08/13 capital appreciation
the Investment limit in line 20% 20% % ry
Plus EquityPl or better than Niftyisindex to Hi
in Mutual Funds
Fund us101 returns 100 gh
7% of Investment
assets. This will %
apply at overall
level and at SFIN
Dive To generate long term 0% to 0% to 60 Ve
rsifie ULIF055 level, the
capital maximumby
appreciation 40% 40% % ry
d 01/08/13 exposure inshall
investing high not
potential to Hi
Equit DivrEqty exceed 15%)
companies across the market 100 gh
y Fd101 Systematic
cap spectrum Transfer %
Fund Plan:
A Policyholder could
choose to avail
Systematic Transfer Plan
described as follows:
Blue ULIF035 (i) Policyholder
Exposure to large -cap 0% to - 80 Ve
Chip 01/01/10 equitiescan investrelated
& equity all 20% % ry
Fund BlueChi or some part of
instruments to Hi
pFd101 his investment 100 gh
in Income %
Oppo ULIF036 Fund,
Exposure to mid Bond
-cap 0% to - 80 Ve
rtunit 01/01/10 equitiesFund or
& equity related 20% % ry
ies Opprtnty Conservative
instruments to Hi
Fund Fd101 Fund and 100 gh
transfer a fixed %
Bala ULIF039 Dynamicamount in
Equity exposure to 0% to 0% to 40 M
nced 01/09/10 enhanceregular
the returns while 20% 60% % od
Fund Balanced the Debt
monthly
allocation reduces to er
Fd101 the volatility of returns
instalments 80 a
into any one of % te
the following to
funds: Equity Hi
Plus Fund, gh
Diversified
Equity Fund,
Blue Chip
Inco ULIF034 HigherFund,
potential returns due 0% to 80% - M
me 01/01/10 to higher duration and credit
Opportunities 20% to100 od
Fund IncomeF exposure
Fund, % er
und101 Discovery a
Fund or te
Balanced Fund.
(ii) The transfer
will be done in
Bond ULIF056 Active12 allocation equal
across all 0% to 40% to - M
Fund 01/08/13 fixed income instruments
instalments. 60% 100% od
Bond The transfer er
Funds10 date can be a
1 either 1st or te
Cons ULIF058 To invest
15thin high grade
of every 0% to 40% to
ervat 01/08/13 fixed income
month instruments as 60% 100% - Lo
ive Consertv and Government
chosen bysecurities
the w
Fund Fd101 at the short end of the
Policyholder.
yield
(iii) At the time of
curve, transfer,
to deliver stable
the
returns.required
Disc ULIF066 Long term capital growth
number of 0% to 0% to 90 Ve
over 18/01/18 by investing
Units predominantly
will be 10% 10% % ry
y DiscvryF in mid-cap companies.
withdrawn from The to hi
Fund nd101 fund may
the invest uptofund25% 100 gh
of the portfolio
chosen, in at stocks
the %
outsideapplicable
the mid-cap index
Unit
capitalisation range.
value, and new Upto
Units will be
allocated in the
chosen
destination
fund.
(iv) The minimum
transfer amount is
Rs. 5,000.
Part F b. Depending on the circumstances of the death, further documents may be
(General Terms and Conditions) called for as we deem fit.
1. Exclusions vi. The claim is required to be intimated to us within a period of three years from the
1) Suicide claim provisions date of death. However, we may condone the delay in claim intimation, if any,
Single Life Coverage where the delay is proved to be for reasons beyond the control of the claimant.
Variant: 4. Assignment or Transfer
(i) In case of death due to suicide within 12 months from the date of inception of The Policyholder can assign or transfer a Policy in accordance with Section 38 of the
the policy, the nominee or beneficiary of the policyholder shall be entitled to the Fund Insurance Act, 1938 as amended from time to time. Simplified version of the provisions
Value, as available on the date of death. of Section 38 is enclosed in Annexure I for reference.
(ii) Any charges recovered subsequent to the date of death shall be paid back to the 5. Nomination
nominee or beneficiary along with the death benefit. The Policyholder can nominate a person/ persons in accordance with Section 39 of the
Joint Life Coverage Variant: Insurance Act, 1938 amended from time to time. Simplified version of the provisions of
(iii) In case of death of either of lives under Joint Life coverage variant due to Section 39 is enclosed in Annexure II for reference.
suicide within 12 months from the date of inception of the policy, the policy shall 6. Issuance of Duplicate Policy:
continue for the surviving life without the fund value being set to be higher of 125% of The Policyholder can request for a duplicate copy of the Policy at HDFC Life offices or
Single Premium or balance in the unit fund. through Certified Financial Consultant (Insurance Agent) who advised you while
(iv) The full withdrawal option will not be available with the surviving life taking this Policy. While making an application for duplicate Policy the Policyholder
(v) In case of death of both the lives due to suicide, within 12 months from the date is required to submit an indemnity bond. Additional Charges may be applicable
of inception of the policy, the nominee or beneficiary of the policyholder shall be for issuance of the duplicate Policy.
entitled to the Fund Value, as available on the date of death. 7. Force Majeure
2. Age Admitted (1) We will value the Funds on each day that the financial markets are open. However,
The Company has calculated the Premiums under the Policy on the basis of the age of we may value the funds less frequently in extreme circumstances external to us, where
the Life Assured as declared in the Proposal. In case you have not provided proof of the value of the assets is too uncertain. In such circumstances, we may defer the
age of the Life Assured with the Proposal, you will be required to furnish such proof of valuation of assets for up to 30 days until we feel that certainty as to the value of
age of the Life Assured as is acceptable to us and have the age admitted. In the event assets has resumed. The deferment of the valuation of assets will be with prior
the age so admitted (“Correct Age”) during the Policy Term is found to be different approval from IRDAI.
from the age declared in the Proposal, without prejudice to our rights and remedies (2) We will make investments as per the Fund mandates given in Part E Clause 2.
including those under the Insurance Act, 1938 as amended from time to time, we shall However, we reserve the right to change the exposure of all/any Fund to Money
take one of the following actions Market Instruments to 100% only in extreme situations, economic situations, war/war-
i) If eligible, and if the Correct Age is found to be higher, the benefit payable under like situations, terror situations. The same will be put back as per the base investment
this Policy, shall be after deduction of such difference of Premium (i.e. difference in policy once the situation has corrected.
Premium paid based on age declared in the Proposal and Premium based on the Some examples of extreme circumstances referred to above are:
Correct Age) along with interest thereon. In such cases, before calculating the amount (i) When one or more stock exchanges which provide a basis for valuation for a
of benefit payable, the Policy shall be subject to re-underwriting and the Sum Assured substantial portion of the assets of the Fund are closed other than for ordinary
shall be subject to eligibility as per underwriting norms and the Premium to be holidays.
deducted shall be calculated proportionately on such Sum Assured payable. If the (ii) When, as a result of political, economic, monetary or any circumstances out of our
Correct Age is found to be lower, excess Premiums without any interest shall be control, the disposal or valuation of the assets of the Unit Fund are not reasonable
refunded. or would not reasonably be practicable without being detrimental to the interests of
ii) If ineligible for the Policy basis the Correct Age, the Policy shall be void-ab-initio the remaining unit holders.
and the Fund Value will be returned without interest after deducting all applicable (iii) During periods of extreme volatility of markets during which surrenders and
Charges like medical (if any), Stamp Duty (if any), risk etc. switches would, in our opinion, be detrimental to the interests of the existing Unit
3. Claim Procedure holders of the Fund.
(1) Maturity Benefit: The Maturity Benefit will be paid if and only if: (iv) In the case of natural calamities, strikes, war, civil unrest, riots and bandhs.
i. The Policy has matured and the Life Assured is alive on the Maturity Date, (v) In the event of any force majeure or disaster that affects our normal functioning.
ii. No claim has been made on the Policy, (vi) If so directed by the IRDAI.
iii. The Policy has not been discontinued or surrendered or cancelled or terminated, The Policyholder shall be notified of such a situation, if it arises.
and
iv. All relevant documents including the original Policy document in support of your 8. Incorrect Information and Non-Disclosure
claim have been provided to the Company. Fraud, misrepresentation and forfeiture would be dealt with in accordance with
provisions of Section 45 of the Insurance Act 1938 as amended from time to time.
Basic documentation for maturity claims: Simplified version of the provisions of Section 45 is enclosed in Annexure III for
a. Original policy document reference.
b. NEFT mandate / discharge voucher 9. Taxes
c. NEFT supporting (1) Indirect Taxes
d. KYC documents Taxes and levies shall be levied as applicable. Any taxes and levies becoming applicable
(2) Death Benefit: The Death Benefit will be paid if and only if: in future may become payable by you by any method including by levy of an
i. The death of the Life Assured (and in case of Joint Life Coverage, the death of additional monetary amount in addition to Premium and or Charges.
the last Life Assured) has occurred before the Maturity Date, (2) Direct Taxes
ii. The standard Policy provisions specified in Part F Clause 1 (Exclusions) and Part Tax will be deducted at the applicable rate from the payments made under the Policy,
F Clause 8 (Incorrect Information and Non Disclosure) are not attracted, as per the prevailing provisions of the Income Tax Act, 1961.
iii. The Policy has not been discontinued or surrendered or cancelled or terminated, 10. Modification, Amendment, Re-enactment of or to the Insurance laws and rules,
iv. The surviving life will have an option of full withdrawal as mentioned in the Part regulations, guidelines, clarifications, circulars etc. thereunder
C 1 (2) (1) This Policy is subject to-
v. All relevant documents in support of the claim have been provided to the (i) The Insurance Act, 1938 as amended from time to time,
Company. These would normally include the following: (ii) Amendments, modifications (including re-enactment) as may be made from time
to time, and
Basic documentation for death claims: (iii) Other such relevant regulations, Rules, Laws, Guidelines, Circulars, Enactments
a. Completed claim form, (including NEFT details and bank account proof as etc as may be introduced thereunder from time to time.
specified in the claim form); (2) We reserve the right to change any of these Policy Provisions / terms and conditions in
b. Original Policy; accordance with changes in applicable regulations or Laws, and where required, with
c. Original or copy Death Certificate issued by Municipal Authority/ Gram IRDAI’s approval.
Panchayat / Tehsildar (attested by issuing authority); (3) We are required to obtain prior approval from the IRDAI before making any material
d. Claimant’s identity and residence proof. changes to these provisions, except for changes of regulatory / statutory nature.
(4) We reserve the right to require submission by you of such documents and proof at all
Additional records (if death is due to natural causes): life stages of the Policy as may be necessary to meet the requirements under Anti-
a. Original or copy of past and current medical records (Indoor case paper, money Laundering/Know Your Customer norms and as may be laid down by IRDAI
admission notes, discharge summary) attested by Hospital authorities. and other regulators from time to time.
11. Jurisdiction:
Additional records (if death is due to un-natural causes): This Policy shall be governed by the laws of India and the Indian Courts shall have
a. Original or copy of First Information Report, Police Panchnama report jurisdiction to settle any disputes arising under the Policy.
attested by Police authorities; and 12. Notices
b. Original or copy of Postmortem report attested by Hospital authority. Any notice, direction or instruction given to Us, under the Policy, shall be in writing
and delivered by hand, post, facsimile or from registered electronic mail ID to:
Note:
a. In case original documents are submitted, attestation on the document by
authorities is not required.
HDFC Life Insurance Company Limited, 11 th Floor, Lodha Excelus, Apollo Mills
Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai - 400011.
Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi
Marg, Mahalaxmi, Mumbai - 400011.
E-mail: service@hdfclife.com
Or such other address as may be informed by us.
Similarly, any notice, direction or instruction to be given by us, under the Policy, shall
be in writing and delivered by hand, post, courier, facsimile or registered electronic
mail ID to the updated address in the records of the Company.
You are requested to communicate any change in address, to the Company supported
by the required address proofs to enable the Company to carry out the change of
address in its systems. The onus of intimation of change of address lies with the
Policyholder. An updated contact detail of the Policyholder will ensure that
correspondences from the Company are correctly addressed to the Policyholder at the
latest updated address.
Part G - Grievance Redressal Mechanism
7. Delhi Centre: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance
1. Complaint Resolution Process Building, Asaf Ali Road, New Delhi – 110 002. Tel.: 011 - 23232481 / 23213504
(i) The customer can contact us on the below mentioned address in case of any Email: bimalokpal.delhi@ecoi.co.in Areas of Jurisdiction: Delhi
complaint/ grievance: Grievance Redressal Officer, HDFC Life Insurance Company 8. Guwahati Centre: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor,
Limited, 11th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Nr. Panbazar over bridge, S.S. Road, Guwahati – 781001(ASSAM). Tel.: 0361 -
Mahalaxmi, Mumbai, Maharashtra – 400011, Helpline number: 18602679999 (Local 2132204 / 2132205 Fax: 0361 - 2732937 Email: bimalokpal.guwahati@ecoi.co.in Areas
charges apply) E-mail: service@hdfclife.com of Jurisdiction: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland
(ii) All grievances (Service and sales) received by the Company will be responded and Tripura
to within the prescribed regulatory Turn Around Time (TAT) of 14 days. 9. Hyderabad Centre: Office of the Insurance Ombudsman, 6-2-46, 1st floor,
(iii) Written request or email from the registered email id is mandatory. "Moin Court", Lane Opp. Saleem Function Palace, A. C. Guards, Lakdi-Ka-Pool,
Hyderabad
(iv) If required, we will investigate the complaints by taking inputs from the
- 500 004. Tel.: 040 - 65504123 / 23312122 Fax: 040 - 23376599 Email:
customer over the telephone or through personal meetings.
bimalokpal.hyderabad@ecoi.co.in Areas of Jurisdiction: Andhra Pradesh, Telangana,
(v) We will issue an acknowledgement letter to the customer within 3 working days
Yanam and part of Territory of Pondicherry
of the receipt of complaint.
10. Jaipur Centre: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr.
(vi) The acknowledgement that is sent to the customer has the details of the
Floor, Bhawani Singh Marg, Jaipur - 302 005. Tel.: 0141 - 2740363 Email:
complaint number, the Policy no number. and the Grievance Redressal Officer’s name
Bimalokpal.jaipur@ecoi.co.in Areas of Jurisdiction: Rajasthan
who will be handling the complaint of the customer.
11. Ernakulam Centre: Office of the Insurance Ombudsman, 2nd Floor, Pulinat
(vii) If the customer’s complaint is addressed within 3 days, the resolution
Bldg., Opp. Cochin Shipyard, M. G. Road, Ernakulam - 682 015. Tel.: 0484 -
communication will also act as the acknowledgment of the complaint.
2358759 / 2359338 Fax: 0484 - 2359336 Email: bimalokpal.ernakulam@ecoi.co.in
(viii) The final letter of resolution will offer redressal or rejection of the complaint
Areas of Jurisdiction: Kerala, Lakshadweep, Mahe-a part of Pondicherry
with the reason for doing so.
12. Kolkata Centre: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe,
(ix) In case the customer is not satisfied with the decision sent to him or her, he or
4th Floor, 4, C.R. Avenue, KOLKATA - 700 072. Tel.: 033 - 22124339 / 22124340
she may contact our Grievance Redressal Officer within 8 weeks of the receipt of the
communication at any of the touch points mentioned in the document, failing which, Fax : 033 - 22124341 Email: bimalokpal.kolkata@ecoi.co.in Areas of Jurisdiction:
we will consider the complaint to be satisfactorily resolved. West Bengal, Sikkim, Andaman & Nicobar Islands
(x) The following is the escalation matrix in case there is no response within the 13. Lucknow Centre: Office of the Insurance Ombudsman, 6th Floor, Jeevan
prescribed timelines or if you are not satisfied with the response. The number of days Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001. Tel.: 0522 -
specified in the below- mentioned escalation matrix will be applicable from the date of 2231330
escalation. / 2231331 Fax: 0522 - 2231310 Email: bimalokpal.lucknow@ecoi.co.in Areas of
Response Jurisdiction: Districts of Uttar Pradesh : Laitpur, Jhansi, Mahoba, Hamirpur, Banda,
Level Designation Time Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi,
Associate Vice President - Customer 10 working Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki,
1st Level Relations days Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti,
2nd Level (for Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar,
response not Sr. Vice President - Customer 7 working Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar
received from Relations days 14. Mumbai Centre: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva
Level 1) Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054. Tel.: 022 - 26106552 /
26106960 Fax: 022 - 26106052 Email: bimalokpal.mumbai@ecoi.co.in Areas of
You are requested to follow the aforementioned matrix to receive satisfactory response Jurisdiction: Goa, Mumbai Metropolitan Region excluding Navi Mumbai & Thane
15. Pune Centre: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd
from us.
Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030. Tel.:
(xi) If you are not satisfied with the response or do not receive a response from us
020-41312555 Email: bimalokpal.pune@ecoi.co.in Areas of Jurisdiction: Maharashtra,
within 14 days, you may approach the Grievance Cell of the Insurance Regulatory and
Area of Navi Mumbai and Thane excluding Mumbai Metropolitan Region
Development Authority of India (IRDAI) on the following contact details:
16. Noida Centre: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th
IRDAI Grievance Call Centre (IGCC) TOLL FREE NO: 155255
Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301.
Email ID: complaints@irda.gov.in; Online- You can register your complaint online at
Tel.: 0120-2514250 / 2514252 / 2514253 Email: bimalokpal.noida@ecoi.co.in Areas of
http://www.igms.irda.gov.in/ Address for communication for complaints by fax/paper:
Jurisdiction: State of Uttaranchal and the following Districts of Uttar Pradesh: Agra,
Consumer Affairs Department, Insurance Regulatory and Development Authority of
Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kanooj, Mainpuri,
India, Sy No. 115/1, Financial District, Nanakramguda,Gachibowli, Hyderabad –
Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad,
500032 Fax No: 91-40- 6678 9768
Firozbad, Gautambodhanagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli,
Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur
2. In the event you are dissatisfied with the response provided by us, you may
17. Patna Centre: Office of the Insurance Ombudsman, 1st Floor,Kalpana Arcade
approach the Insurance Ombudsman in your region. The details of the existing offices
Building,, Bazar Samiti Road, Bahadurpur, Patna 800 006. Tel.: 0612-2680952 Email :
of the Insurance Ombudsman are provided below. You are requested to refer to the
bimalokpal.patna@ecoi.co.in Areas of Jurisdiction: Bihar, Jharkhand.
IRDAI website at “www.irdai.gov.in” for the updated details.
b. Power of Ombudsman-
1) The Ombudsman shall receive and consider complaints or disputes relating to—
a. Details and addresses of Insurance Ombudsman
(a) delay in settlement of claims, beyond the time specified in the regulations,
1. Ahmedabad Centre: Office of the Insurance Ombudsman, Jeevan Prakash
framed under the Insurance Regulatory and Development Authority of India Act, 1999;
Building, 6th floor, Tilak Marg, Relief Road, Ahmedabad – 380 001. Tel.: 079 -
(b) any partial or total repudiation of claims by the Company ;
25501201/02/05/06 Email: bimalokpal.ahmedabad@ecoi.co.in Areas of Jurisdiction:
(c) disputes over premium paid or payable in terms of insurance policy;
Gujarat, Dadra & Nagar Haveli, Daman and Diu.
(d) misrepresentation of policy terms and conditions at any time in the policy
2. Bhopal Centre: Office of the Insurance Ombudsman, Janak Vihar Complex, 2nd
document or policy contract;
Floor, 6, Malviya Nagar, Opp. Airtel Office, Near New Market, Bhopal – 462 003.
(e) legal construction of insurance policies in so far as the dispute relates to claim;
Tel.: 0755 - 2769201 / 2769202 Fax: 0755 - 2769203 Email:
(f) policy servicing related grievances against insurers and their agents and
bimalokpal.bhopal@ecoi.co.in Areas of Jurisdiction: Madhya Pradesh, Chattisgarh
intermediaries;
3. Bhubaneshwar Centre: Office of the Insurance Ombudsman, 62, Forest park,
(g) issuance of life insurance policy, general insurance policy including health
Bhubneshwar – 751 009. Tel.: 0674 - 2596461 /2596455 Fax: 0674 - 2596429 Email:
insurance policy which is not in conformity with the proposal form submitted by the
bimalokpal.bhubaneswar@ecoi.co.in Areas of Jurisdiction: Orissa
proposer;
4. Bengaluru Centre: Office of the Insurance Ombudsman, Jeevan Soudha
(h) non-issuance of insurance policy after receipt of premium in life insurance; and
Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist
(i) any other matter resulting from the violation of provisions of the Insurance Act,
Phase, Bengaluru – 560 078. Tel.: 080 - 26652048 / 26652049 Email:
1938, as amended from time to time, or the regulations, circulars, guidelines or
bimalokpal.bengaluru@ecoi.co.in Areas of Jurisdiction: Karnataka
instructions issued by the IRDAI from time to time or the terms and conditions of the
5. Chandigarh Centre: Office of the Insurance Ombudsman, S.C.O. No. 101, 102 &
policy contract, in so far as they relate to issues mentioned at clauses (a) to (f).
103, 2nd Floor, Batra Building, Sector 17 – D, Chandigarh – 160 017. Tel.: 0172 -
2) The Ombudsman shall act as counsellor and mediator relating to matters
2706196 / 2706468 Fax: 0172 - 2708274 Email: bimalokpal.chandigarh@ecoi.co.in
specified in sub-rule (1) provided there is written consent of the parties to the dispute.
Areas of Jurisdiction: Punjab , Haryana, Himachal Pradesh, Jammu & Kashmir ,
3) The Ombudsman shall be precluded from handling any matter if he is an
Chandigarh
interested party or having conflict of interest.
6. Chennai Centre: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th
4) The Central Government or as the case may be, the IRDAI may, at any time
Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018. Tel.: 044 - 24333668 /
refer any complaint or dispute relating to insurance matters specified in sub-rule (1), to
24335284 Fax: 044 - 24333664 Email: bimalokpal.chennai@ecoi.co.in Areas of
the Insurance Ombudsman and such complaint or dispute shall be entertained by the
Jurisdiction: Tamil Nadu, Pondicherry Town and Karaikal (which are part of
Insurance Ombudsman and be dealt with as if it is a complaint made under Clause (c)
Pondicherry)
provided herein below.
c. Manner in which complaint is to be made –
1) Any person who has a grievance against the Company, may himself or through
his legal heirs, nominee or assignee, make a complaint in writing to the Insurance
Ombudsman within whose territorial jurisdiction the branch or office of the Company
complained against or the residential address or place of residence of the complainant
is located.
2) The complaint shall be in writing, duly signed by the complainant or through his
legal heirs, nominee or assignee and shall state clearly the name and address of the
complainant, the name of the branch or office of the Company against whom the
complaint is made, the facts giving rise to the complaint, supported by documents, the
nature and extent of the loss caused to the complainant and the relief sought from the
Insurance Ombudsman.
3) No complaint to the Insurance Ombudsman shall lie unless—
(a) the complainant makes a written representation to the Company named in the
complaint and—
i. either the Company had rejected the complaint; or
ii. the complainant had not received any reply within a period of one month after
the Company received his representation; or
iii. the complainant is not satisfied with the reply given to him by the Company;
(b) The complaint is made within one year—
i. after the order of the insurer rejecting the representation is received; or
ii. after receipt of decision of the Company which is not to the satisfaction of the
complainant;
iii. after expiry of a period of one month from the date of sending the written
representation to the Company if the Company named fails to furnish reply to the
complainant.
4) The Ombudsman shall be empowered to condone the delay in such cases as he
may consider necessary, after calling for objections of the Company against the
proposed condonation and after recording reasons for condoning the delay and in case
the delay is condoned, the date of condonation of delay shall be deemed to be the date
of filing of the complaint, for further proceedings under these rules.
5) No complaint before the Insurance Ombudsman shall be maintainable on the
same subject matter on which proceedings are pending before or disposed of by any
court or consumer forum or arbitrator.
Annexure I
Section 38 - Assignment or Transfer of Insurance Policies 7) Fee to be paid to the insurer for registering change or cancellation of a nomination can be
Assignment or transfer of a policy should be in accordance with Section 38 of the Insurance specified by the Authority through Regulations.
Act, 1938 as amended by Insurance Laws (Amendment) Act, 2015 and subject to amendment 8) On receipt of notice with fee, the insurer should grant a written acknowledgement to the
from time to time. The extant provisions in this regard are as follows: policyholder of having registered a nomination or cancellation or change thereof.
(1) This policy may be transferred/assigned, wholly or in part, with or without consideration. 9) A transfer or assignment made in accordance with Section 38 shall automatically cancel
(2) An Assignment may be effected in a policy by an endorsement upon the policy itself or the nomination except in case of assignment to the insurer or other transferee or assignee
by a separate instrument under notice to the Insurer. for purpose of loan or against security or its reassignment after repayment. In such case,
(3) The instrument of assignment should indicate the fact of transfer or assignment and the the nomination will not get cancelled to the extent of insurer’s or transferee’s or
reasons for the assignment or transfer, antecedents of the assignee and terms on which assignee’s interest in the policy. The nomination will get revived on repayment of the
assignment is made. loan.
(4) The assignment must be signed by the transferor or assignor or duly authorized agent and 10) The right of any creditor to be paid out of the proceeds of any policy of life insurance
attested by at least one witness. shall not be affected by the nomination.
(5) The transfer of assignment shall not be operative as against an insurer until a notice in 11) In case of nomination by policyholder whose life is insured, if the nominees die before
writing of the transfer or assignment and either the said endorsement or instrument itself the policyholder, the proceeds are payable to policyholder or his heirs or legal
or copy there of certified to be correct by both transferor and transferee or their duly representatives or holder of succession certificate.
authorised agents have been delivered to the insurer. 12) In case nominee(s) survive the person whose life is insured, the amount secured by the
(6) Fee to be paid for assignment or transfer can be specified by the Authority through policy shall be paid to such survivor(s).
Regulations. 13) Where the policyholder whose life is insured nominates his (a) parents or (b) spouse or (c)
(7) On receipt of notice with fee, the insurer should Grant a written acknowledgement of children or (d) spouse and children (e) or any of them; the nominees are beneficially
receipt of notice. Such notice shall be conclusive evidence against the insurer of duly entitled to the amount payable by the insurer to the policyholder unless it is proved that
receiving the notice. policyholder could not have conferred such beneficial title on the nominee having regard
(8) If the insurer maintains one or more places of business, such notices shall be delivered to the nature of his title.
only at the place where the policy is being serviced. 14) If nominee(s) die after the policyholder but before his share of the amount secured under
(9) The insurer may accept or decline to act upon any transfer or assignment or endorsement, the policy is paid, the share of the expired nominee(s) shall be payable to the heirs or
if it has sufficient reasons to believe that it is (a) not bonafide or (b) not in the interest of legal representative of the nominee or holder of succession certificate of such nominee(s).
the policyholder or (c) not in public interest or (d) is for the purpose of trading of the 15) The provisions of sub-section 7 and 8 (13 and 14 above) shall apply to all life insurance
insurance policy. policies maturing for payment after the commencement of Insurance Laws (Amendment)
(10)Before refusing to act upon endorsement, the Insurer should record the reasons in writing Act, 2015 (i.e 23.03.2015).
and communicate the same in writing to Policyholder within 30 days from the date of 16) If policyholder dies after maturity but the proceeds and benefit of the policy has not been
policyholder giving a notice of transfer or assignment. paid to him because of his death, his nominee(s) shall be entitled to the proceeds and
(11)In case of refusal to act upon the endorsement by the Insurer, any person aggrieved by benefit of the policy.
the refusal may prefer a claim to IRDAI within 30 days of receipt of the refusal letter from 17) The provisions of Section 39 are not applicable to any life insurance policy to which
the Insurer. Section 6 of Married Women’s Property Act, 1874 applies or has at any time applied
(12)The priority of claims of persons interested in an insurance policy would depend on the except where before or after Insurance Laws (Amendment) Act, 2015 (i.e 23.03.2015), a
date on which the notices of assignment or transfer is delivered to the insurer; where nomination is made in favour of spouse or children or spouse and children whether or not
there are more than one instruments of transfer or assignment, the priority will depend on on the face of the policy it is mentioned that it is made under Section 39. Where
dates of delivery of such notices. Any dispute in this regard as to priority should be nomination is intended to be made to spouse or children or spouse and children under
referred to Authority. Section 6 of MWP Act, it should be specifically mentioned on the policy. In such a case
(13)Every assignment or transfer shall be deemed to be absolute assignment or transfer and only, the provisions of Section 39 will not apply.
the assignee or transferee shall be deemed to be absolute assignee or transferee, except [Disclaimer: This is not a comprehensive list of amendments of Insurance Laws
a. where assignment or transfer is subject to terms and conditions of transfer or (Amendment) Act, 2015 and only a simplified version prepared for general
assignment OR information.]
b. where the transfer or assignment is made upon condition that
i. the proceeds under the policy shall become payable to policyholder or nominee(s) Annexure III
in the event of assignee or transferee dying before the insured OR Section 45 – Policy shall not be called in question on the ground of mis-statement after
ii. the insured surviving the term of the policy three years
Such conditional assignee will not be entitled to obtain a loan on policy or surrender Provisions regarding policy not being called into question in terms of Section 45 of the
the policy. This provision will prevail notwithstanding any law or custom having Insurance Act, 1938, as amended by Insurance Laws (Amendment) Act, 2015 and subject to
force of law which is contrary to the above position. amendment from time to time. The extant provisions in this regard are as follows:
(14)In other cases, the insurer shall, subject to terms and conditions of assignment, recognize 1) No Policy of Life Insurance shall be called in question on any ground whatsoever after
the transferee or assignee named in the notice as the absolute transferee or assignee and expiry of 3 yrs from a. the date of issuance of policy or b. the date of commencement of
such person a. shall be subject to all liabilities and equities to which the transferor or risk or c. the date of revival of policy or d. the date of rider to the policy whichever is
assignor was subject to at the date of transfer or assignment and b. may institute any later.
proceedings in relation to the policy c. obtain loan under the policy or surrender the 2) On the ground of fraud, a policy of Life Insurance may be called in question within 3
policy without obtaining the consent of the transferor or assignor or making him a party years from a. the date of issuance of policy or b. the date of commencement of risk or
c. the date of revival of policy or d. the date of rider to the policy whichever is later.
to the proceedings
For this, the insurer should communicate in writing to the insured or legal representative
(15)Any rights and remedies of an assignee or transferee of a life insurance policy under an
or nominee or assignees of insured, as applicable, mentioning the ground and materials
assignment or transfer effected before commencement of the Insurance Laws
on which such decision is based.
(Amendment) Act, 2015 shall not be affected by this section.
[Disclaimer: This is not a comprehensive list of amendments of Insurance Laws 3) Fraud means any of the following acts committed by insured or by his agent, with the
(Amendment) Act, 2015 and only a simplified version prepared for general intent to deceive the insurer or to induce the insurer to issue a life insurance policy:
information.] a. The suggestion, as a fact of that which is not true and which the insured does not
believe to be true; b. The active concealment of a fact by the insured having knowledge
Annexure II or belief of the fact; c. Any other act fitted to deceive; and d. Any such act or omission as
Section 39 - Nomination by policyholder the law specifically declares to be fraudulent.
Nomination of a life insurance Policy is as below in accordance with Section 39 of the 4) Mere silence is not fraud unless, depending on circumstances of the case, it is the duty of
Insurance Act, 1938 as amended by Insurance Laws (Amendment) Act, 2015 and subject to the insured or his agent keeping silence to speak or silence is in itself equivalent to speak.
amendment from time to time. The extant provisions in this regard are as follows: 5) No Insurer shall repudiate a life insurance Policy on the ground of Fraud, if the Insured /
1) The policyholder of a life insurance on his own life may nominate a person or persons to beneficiary can prove that the misstatement was true to the best of his knowledge and
whom money secured by the policy shall be paid in the event of his death. there was no deliberate intention to suppress the fact or that such mis-statement of or
2) Where the nominee is a minor, the policyholder may appoint any person to receive the suppression of material fact are within the knowledge of the insurer. Onus of disproving
money secured by the policy in the event of policyholder’s death during the minority of is upon the policyholder, if alive, or beneficiaries.
the nominee. The manner of appointment to be laid down by the insurer. 6) Life insurance Policy can be called in question within 3 years on the ground that any
3) Nomination can be made at any time before the maturity of the policy. statement of or suppression of a fact material to expectancy of life of the insured was
4) Nomination may be incorporated in the text of the policy itself or may be endorsed on incorrectly made in the proposal or other document basis which policy was issued or
the policy communicated to the insurer and can be registered by the insurer in the records revived or rider issued. For this, the insurer should communicate in writing to the insured
relating to the policy. or legal representative or nominee or assignees of insured, as applicable, mentioning the
5) Nomination can be cancelled or changed at any time before policy matures, by an ground and materials on which decision to repudiate the policy of life insurance is based.
endorsement or a further endorsement or a will as the case may be. 7) In case repudiation is on ground of mis-statement and not on fraud, the premium
6) A notice in writing of Change or Cancellation of nomination must be delivered to the collected on policy till the date of repudiation shall be paid to the insured or legal
insurer for the insurer to be liable to such nominee. Otherwise, insurer will not be liable representative or nominee or assignees of insured, within a period of 90 days from the
if a bonafide payment is made to the person named in the text of the policy or in the date of repudiation.
8) Fact shall not be considered material unless it has a direct bearing on the risk undertaken
registered records of the insurer.
by the insurer. The onus is on insurer to show that if the insurer had been aware of the
said fact, no life insurance policy would have been issued to the insured.
9) The insurer can call 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 of age of life insured. So, this Section will not be applicable for
questioning age or adjustment based on proof of age submitted subsequently.
[Disclaimer: This is not a comprehensive list of amendments of Insurance Laws
(Amendment) Act, 2015 and only a simplified version prepared for general information.]

APPENDIX – 2
Mortality Charges Mortality Charges for Joint Life
Effective Date: < RCD Cover Age of Life 1: 35 years
Mortality Charges > Age of Life 2: 40 years
Policy Term: 10
Mortality Charges are calculated as specified in Part E Clause 1(Charges).
years

Mortality Charges for Single Life Cover

Age Last MC1 per Rs.1000 MC2 per Rs.1000
Mortality Charge Policy year
Birthday SARJL1 per Annum SARJL2 per Annum
0 3.778
1 3.312
2 2.495 1 2.6266 0.0017
3 1.880 2 2.8261 0.0055
4 1.420 3 3.0455 0.0102
5 1.075 4 3.3147 0.0161
6 0.819
5 3.6237 0.0235
7 0.632
8 0.502 6 3.9825 0.0329
9 0.418 7 4.3809 0.0445
10 0.374 8 4.8489 0.0594
11 0.364 9 5.3764 0.0781
12 0.381 10 5.9733 0.1019
13 0.417
14 0.467
15 0.522
16 0.578
17 0.632
18 0.680
19 0.721
20 0.755
21 0.781
22 0.802
23 0.817
24 0.828
25 0.836
26 0.845
27 0.853
28 0.864
29 0.879
30 0.898
31 0.921
32 0.951
33 0.989
34 1.035
35 1.090
36 1.154
37 1.230
38 1.317
39 1.417
40 1.533
41 1.665
42 1.819
43 1.998
44 2.204
45 2.443
46 2.717
47 3.032
48 3.386
49 3.777
50 4.204

All rates are per Rs. 1,000 of Sum at Risk

Mortality Rates stated above are guaranteed for the term of your Policy.