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Non-declinature (ND) Scheme

Non-declinature (ND) Scheme. This scheme is designed to cater to the financial protection of persons who do not want to fulfill our medical requirements or are unable to fulfill due to their present state of health.

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Non-declinature (ND) Scheme

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  1. Non-declinature (ND) Scheme • This scheme is designed to cater to the financial protection of persons who do not want to fulfill our medical requirements or are unable to fulfill due to their present state of health. • A policy under this scheme will not have to meet any underwriting requirement. Although the proposed will be free to decline any question about his health. • This scheme is available only for 03 & 05 plans and age 20 to 58. No rider can be attached.

  2. ND Scheme 2 • This scheme is available only for 03 & 05 plans and age 20 to 58. No rider can be attached. • The occupational extra will be charged, if the proposer is involved in hazardous occupation or takes part in hazardous sports. • Maximum Sum Assured limit is 30 Lacs. Only yearly mode of premium payment is available.

  3. ND Scheme 3 Death Benefit Payment of Sum Assured only if death occurs by accident in the first or second year of policy. For third & later policy years, payment of sum assured & bonuses as per policy. In case of natural death in first policy year, no benefit & refund of premium will be paid. In case of natural death in second policy year, only second year premium will be returned. In case of natural death in third & later policy years, payment of full sum assured & bonuses as per policy will be done.

  4. ND Scheme 4 Revival of Policy • After 31 days grace period policy will lapse non paying of second year premium. • The policy can be revived by paying outstanding premium with late fees and providing ND Scheme Form. If revived, full cover may be started 2 years from the date of revival. • In case of inforce policy , third & later policy years all facilities as a regular will be available, like paid-up, surrender, loan & auto premium loan.

  5. THANKS! FIELD MAN POWER DEVELOPMENT DEPARTMENT

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