NON DECLINATURE ND scheme
NON DECLINATURE ND scheme is meant to cater to the monetary protection of persons who dont don’t wish to satisfy our medical necessities or square measure unable to satisfy due to their present state of the health.this scheme will be subject to the following terms and conditions.
1- A policy under ND scheme will not have to meet any underwriting requirements. Although the proposer will be free to decline to answer to any question about his health such answers will be appreciated since will help state life to gather statistics to see how the scheme works.
2- endowment assurance arrange table 03 and anticipated endowment assurance arrange square measure on the market.
no rider is connected to a policy issued below ND theme.
3- this scheme is available to the person aged 20 or over but not over 58 years.
both males & females.age proof is required at the time of proposal.
4- ND policies are charged and ND further.
5- The usual occupational extra will be charged if the proposer follows a hazardous occupation or takes part in hazardous sports.
Suppose the occupation or pastime of the proposer is so hazardous that the proposal would ordinarily be declined if underwritten.
Then below the ND theme, it will not be declined. But AN acceptable further premium are charged to hide the additional hazard.
6- the maximum sum assured available under this scheme is Rs.35 lacs Any existing non- ND policies will not be counted towards this maximum sum assured.
7- only annual premium payment mode is available under this scheme.
8-life cowl doesn’t begin in real time below a policy issued below ND theme.
it will gradually build up to 100% as follows.
A- death in the first policy year;
payment of add assured, only if death occurred by accident as defined in the policy. otherwise, no benefit is payable.
B-death in the 2nd policy year;
payment of sum assured, only if death occurred by accident as defined in the policy otherwise return of the 2nd policy year premium only.
C-death in the 3rd and later policy years;
payment of full add assured and bonuses as per policy.
9-under ND policies thirty one days grace amount are strictly ascertained.
State Life insurance policies provide a wide range of benefits in case of death of the persons covered against them. If your lover coated below any of State Life has expired , you should lodge a death claim with us. All you have got to try and do is to send a written intimation to the zonal workplace of State Life mating the policy against that you’re lodging a death claim.