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ACCIDENTAL DEATH BENEFIT
A life insurance policy provision that calls for an additional payment, usually equal to the face amount of the insurance, in the event of accidental death. also called double indemnity.
The increase in value of an asset over a period of time in a predictable or pre-determined way. The opposite of amortisation.
ACT OF GOD
Also known as viz major, Act of God is a natural event which is not the fault of or is beyond the human control. Example: floods, storms, landslides, earthquakes.
An insurance professional skilled in the analysis, evaluation and management of statistical information. Evaluates insurance firms’ reserves, determines rates and rating methods, and determines other business and financial risks.
Is one who is a representative of the insurance company, and is licensed by IRDA. The Agent solicits contracts of insurance, and provides service in this regard to the policyholder.
The percentage of a contribution used to buy units for investment purposes. The percentage will vary depending on factors such as the type of contract, time to maturity, commission and amount of contribution.
ANNUAL ADMINISTRATIVE FEE
Charge for expenses associated with administering a group employee benefit plan.
The person who will receive annuity benefits at stipulated intervals of time like yearly / half yearly/ quarterly / monthly intervals.
The conversion of the account balance of a deferred annuity contract to income payments.
An annuity provides you with a regular income upon your retirement for the rest of your life. Typically, you pay a lump sum which is invested by the insurance company in return for monthly payouts
A monetary amount that is equal to the present value of future periodic income payments under an annuity.
The time span between each of the annuity income benefit payments made under the annuity contract. Typically annuity income benefits are paid monthly or annually.
ANTI-MONEY LAUNDERING (AML)
IRDA has prescribed the Anti Money Laundering guidelines to be followed by an insurance Company. The guidelines lay down the process of identification of customer to be followed by an insurance company before issuance of a policy. The guidelines also require an insurance company to report any suspicious activity if noticed by the company with reference to a particular policy or an insured person.
Form supplied by the insurance company, to be filled in by the person intending to purchase insurnace on his/ her life or on life of a person in whom he has insurable interest. The application is the basis of issuance of an insurnace policy. It is signed by the applicant and is part of the insurance policy if it is issued. It gives information to the insurer regarding the person to be insured so that it may consider whether an insurance policy will be issued and at what premium rate.
The increased value of one asset held by the policy, or by the total assets held by the policy over a period of time.
Arbitration means the intervention of a thid party inorder to amicably settle the dispute. The Arbitration and Conciliation Act 1996 provides for the procedure to carry out Arbitration
A system method of investing that distributes assets to a broad array of investments
Assignee is the person to whom the benefits under a life policy are assigned by the assignor.
Section 38 of the Insurance Act provides for assignment of insurance policies. Such assignment can be for a consideration or out of natural love and affection. The assignment comes into effect only when the insurance company records the same in its books and endorses the policy document.
Assignment means legal transference. A method by which the policyholder can pass on his interest to another person. An assignment can be made by an endorsement on the policy document or as a separate deed. Assignment can be of two types 1.Conditional assignment 2. Absolute Assignment
The person who assigns the policy is known as the assignor. The Assignor is usually the policyholder
Assignor is the person who holds the right/title under the policy and who can make a valid assignment.
Insured's age at a particular time. For example, many term life insurance policies allow an insured to convert to permanent insurance without a physical examination at the insured's then attained age. Upon conversion, the premium usually rises substantially to reflect the insured's age and diminished life expectancy.
A fund that maintains a balanced portfolio, generally 60% bonds or preferred stocks and 40% commons stocks.
This illustrates the benefits of the plan, both guaranteed and non-guaranteed, and the costs and charges associated with the policy you are purchasing, including distribution costs, which take into account the commission the insurer will pay to your insurance adviser, and the charges for insurance coverage.
The time for which an insurance company covers the designated insured or dependents for the benefits.
BODY MASS INDEX (BMI)
Used for underwriting purposes in evaluating build and determining overweight and obesity. It tells us the person's health constitution. It is expressed as weight in Kg divided by height in meters to the power of two or Kg/height2
CASH VALUE / SURRENDER VALUE
The amount of money the policyholder will receive if he surrenders his life insurance policy that has a savings feature.
That type of insurance that is primarily concerned with losses caused by injuries to persons and legal liability imposed upon the insured for such injury or for damage to property of others. It also includes such diverse forms as plate glass, insurance against crime, such as robbery, burglary and forgery, boiler and machinery insurance and Aviation insurance. Many casualty companies also write surety business.
A demand made by the insured, or the insured's estate, for payment of the benefits as provided by the policy.
Person who has as interest in the policy and making a claim on the policy.
Co-insurance is the amount which is not covered by the policy and which you need to pay after the deductible (see below) is met. It is usually expressed as a percentage of the expenses.
A temporary assignment of the monetary value of a life insurance policy as security for a loan. In the event of default, the creditor would receive proceeds or values only to the extent of his interest.
The requirement to operate in accordance with statutory or regulatory guidelines. In the insurance industry, the most important compliance rules come from the Insurance Regulatory Development Authority (IRDA). Most insurance companies have compliance teams whose role is to ensure that the company follows all the necessary rules and regulations.
When an applicant withholds critical information from the insurance company, it is called concealment. For instance, if the applicant is suffering from a terminal disease and he does not notify the company of this, he is concealing information.
Person or persons named to receive proceeds in case the original beneficiary is not alive. Also referred to as secondary or tertiary beneficiary.
Coverage is a Life Insurance Coverage, Rider Coverage or Waiver Benefit Coverage.
The scope of protection provided under an insurance policy is known as coverage of insurance i.e. the amount for which a person is insured is known as a coverage.
Coverage Year is a complete year beginning on the effective date of Coverage and subsequent Coverage Years are from the anniversary of the effective date.
CRITICAL ILLNESS INSURANCE
A life insurance policy with the benefits payable on diagnosis of one of a number of specified medical conditions. Critical illness plans will pay out a lump sum when you die or are diagnosed with a major illness. The illnesses that are covered vary, but usually include heart attack, stroke, coronary artery bypass, major cancers and kidney failure.
DATE OF COMMENCEMENT
The date on which cover begins, following acceptance of the risk by the insurer.
The benefit received by the beneficiary (ies) on the death of the insured.
An annuity (or pension) due to be paid from a future date or when the policyholder reaches a specified age. A deferred annuity may be funded by the policyholder by payment of a series of regular contributions or by a capital sum.
A person who depends upon another for financial support. A child is normally a dependant at least until reaching the age of 18.
DISABILITY INCOME RIDER
A type of health insurance coverage, it provides for the payment of regular, periodic income should the insured become disabled from illness or injury.
DOCTRINE OF UTMOST GOOD FAITH
Insurance contract is issued on the basis that the applicant truthfully and fully discloses everything he or she knows about his or her health and other faily history and also regarding other insurance policies taken on his/her life. This arises from the recognition that the insurance company is in a disadvantageous position, as the insurer does not know anything about the applicant. Similarly, the insurance company should deal with the applicant with honesty and integrity.
The amount of the premium that as been paid for in advance that has been "earned" by virtue of the fact that time has passed without claim. A three-year policy that has been paid in advance and is one year old would have only partly earned the premium.
ELECTRONIC CLEARING SYSTEMS (ECS)
Electronic clearing system in which payment orders are exchanged among financial institutions, primarily using magnetic media or via telecommunication networks, and handled by a data-processing centre
Endowment insurance provides both protection and savings. The policy pays the sum insured and any bonuses you have built up at the end of the set period of time (maturity date), when you die or become totally and permanently disabled during the insurance period.
In investments, the ownership interest of shareholders. In a corporation, stocks as opposed to bonds.
Means the assets and liabilities of a person.
EXTENDED TERM INSURANCE
A provision in some policies which provides the option of continuing the insurance for a particular insured amount as per the policy condition as term insurance.
Commonly used to refer to the principal sum involved in the contract. The actual amount payable may be decreased by loans or increased by additional benefits payable under specified conditions or stated in a rider.
FIRST UNPAID PREMIUM(FUP)
First unpaid premium refers to the first default in paying premium by the policy holder. On payment of the due premium a receipt is issued and this receipt indicates the date of next due. If this due premium is not paid that date becomes the date of FUP.
A loss of money or privileges due to a breach of contract, which serves as compensation for resulting losses.
A free look period gives the client an option to review the terms and conditions of the policy within 15 days from the date of receipt of the policy document. Where he disagrees with the terms and conditions stated in the policy, he has the option to return the policy, stating the reasons for objection. In such a case the Policy would then be cancelled and the premium paid by the client would be refunded to him, after deducting: proportionate risk premium for the period on cover, expenses incurred by the Insurance Company on medical examination of the client and stamp duty charges.
FULL AND FRANK DISCLOSURE OF ALL MATERIAL FACTS
Any fact which may affect/ influence the decision of the insurer to provide insurance cover to an applicant is a material fact. Material fact may be related to financial background of the applicant or the health related matters. In case the applicant has been rejected insurance cover by any other company at any time in past, such fact is a material fact. The applicant is required to disclose all facts to the insurer whether material or not.
In a unit linked life insurance policy, you can choose which funds you want to invest in. Fund switch is an option that allows you to transfer some or all your existing investments from one fund to another during the policy term.
A period of time, usually 30 days, after the premium due date during which time renewal premium can be paid to keep the policy in force
The length of time (usually 31 days) after a premium is due and unpaid during which the policy, including all riders, remains in force. If a premium is paid during the grace period, the premium is considered to have been paid on time.
GRACE PERIOD (RENEWAL) CALLING
Reminder call for premium payment due, sent to the customers holding policies who have failed to pay on or before the renewal payment due date however have grace period available to make the payment
A fund whose primary investment objective is long-term growth of capital. It invests principally in common stocks with significant growth potential.
GUARANTEED INSURANCE SUM(GIS)
Guaranteed Insurance Sum is equal to purchase price paid for a pension along with final Jeevan Akshay Bonus.
A hobby that has high risk for insurance purpose. Example: A deep - sea diver or a free-fall skydiver.
An occupation that has high risk for insurance purposes. Example: a window cleaner on high - rise buildings.
Legal principle that specifies an insured should not collect more than the actual cash value of a loss but should be restored to approximately the same financial position as existed before the loss. However the principle of indemnity does not apply to Life Insurance policies.
means the monetary interest that the insured has in his own life OR that the policy holder has in the life of another. Without insurable interest, the policy will be invalid.
A system to make large financial losses more affordable by pooling the risks of many individuals and business entities and transferring them to an insurance company or other large group in return for a premium.
The person whose life is covered by a policy of insurance.
INTEREST RATE RISK
The possibility that a bond's or bond fund's value will decrease due to rising interest rates.
Your premiums buy life-insurance protection and investment units in a managed fund. The price of your units depends on how the investments in the fund perform. What it pays depends on the price of the units at the time you cash it in or die. Your estate may also get a death benefit.
The acronym for the Insurance Regulatory and Development Authority of India, it is the apex body overseeing the insurance business in India. It protects the interests of the policyholders, regulates, promotes and ensures orderly growth of the insurance industry and for matters connected therewith or incidental thereto.
JOINT AND SURVIVOR OPTION
An option on an annuity that provides that the annuity payout will continue through the lives if two people. If one of the payees dies, payments continue to the second payee throughout that payee's lifetime.
An insurance policy that a company purchases on a key employee whose knowledge, network and experience is so essential that the untimely death of the employee will have a severe impact on the profitability of the company.
KNOW YOUR CUSTOMER (KYC)
Know your customer (KYC) is the due diligence as prescribed by IRDA Anti Money Laundering Guidelines that the companies must perform to identify their clients and ascertain relevant information pertinent to issuance of insurance policy to a person
Termination of the policy rights and benefits upon the failure to pay the premium within the grace period
A policy for which rights and benefits have been terminated and is no longer in force due to non-payment of the premium due
LAST BIRTH DAY(L.B.D)
Age at last Birthday
Is a person who succeeds the deceased. Legal Heirs are determined by laws of succession or customs, depending on the religion of the deceased.
Is a person who represents the Estate of the deceased.
Life Assured refers to the person whose life is being insured.
LIFE INSURANCE CONTRACT
A contract provided for the payment of a sum of money to the person assured or failing him, to the person entitled to receive the same, on the happening of certain event for the consideration. Here, sum of money refers to sum assured/benefits; certain event refers to contingent event; consideration refers to premium.
The ability and speed with which a security can be converted into cash.
The degree to which an investment may be quickly sold in exchange for cash. Funds are a liquid investment; at any time-shares may be redeemed. A 30-year savings bond is not liquid. It cannot easily be sold until the 30-tear, maturity date is reached.
Fee levied for management of the fund and / or shareholder administrative services. Usually a fixed percentage of the total value of your fund that is assessed once in a year.
The Payment to the policyholder at the end of the stipulated term of the policy is called maturity claim.
An agreed date on which an insurance company pays out a lump sum.
MEDICAL EXPENSE INSURANCE
Medical expense insurance (or commonly known as hospital and surgical insurance) pays medical expenses that result from accidents and sicknesses. The policy will refund the in-patient expenses you have to pay while in hospital as well as certain out-patient expenses, depending on the limits shown in the policy.
Is a false, incorrect, improper, or inadequate statement of a material fact made in the application for a policy. Misrepresentation can also be made by the representative of the insurance company while selling the policy. Example: Assurance of higher interest rate than that is offered by the company.
MISREPRESENTATION OF MATERIAL FACTS
Providing the wrong facts or not giving the entire truth of a matter. This is more serious than non-disclosure. It refers to the applicant stating wrong facts or giving half-truths. They are material because if the underwriter knew of it this information, the decision might be different.
MONEY BACK PLAN
A plan in which part of the sum assured is paid back to the policyholder at regular intervals.
The probability of disability of a life or group of lives.
The probability of death of a life or group of lives.
MORTALITY AND EXPENSE RISK FEES
A charge that covers such annuity contract guarantees as death benefits.
This is a form of assignment used in connection with a loan. The policy is mortgaged by the mortgager to the mortgaged who will hold it as a security for the duration of the loan until the loan and the interest is paid. In the event, the policy must be reassigned to the mortgagor if the amount is not paid by the required date, the mortgagee has the right to liquidate the policy and recover the amount and return the balance amount to the mortgagor.
NEAR BIRTH DAY(N.B.D)
Age on nearest birthday
NET ASSET VALUE (NAV)
The value of a fund share. Determined by dividing the total value of the fund's assets by the number of outstanding shares. This value is calculated daily by the fund.
A provision by which a policyholder can designate any person to receive the policy money in the event of his death.
A person selected by the policyholder to receive the benefit in case of death of the life insured.
Section 39 of the insurnace act provides for the facility of nomination. A person who takes insurance on his own life and appoint a nominee (a person or persons) to whom the proceeds or benefits of the policy are payable in the event of death of the policy owner.
NON-DISCLOSURE OF MATERIAL FACTS
An applicant fails to disclose facts that have an impact on the decision of the underwriter (had the underwriter known of this fact, the decision would have been different)
The value of the policy if canceled, either in cash or in another form of insurance.
An insurance policy that does not participate in the profits of the insurance fund.
Any individual, who cannot be granted a policy under normal rates of premiums but can be granted with an extra premium over normal rates of premium, is considered as a Non-Standard Life.
Occupations which expose the insured to greater than normal physical danger by the very nature of the work in which the insured is engaged, and the varying periods of absence from the occupation, due to the disability, that can be expected.
An ombudsman's office is established under the Redressal of Public Grievances Rules, 1998. Any person who is aggrieved by the insurance Company can file a complaint with the Insurance Ombudsman.The powers of ombudsman include to consider any complaints; any partial or total repudiation of claims by an insurer; any dispute in regard to premium paid or payable in terms of the policy; any dispute arising from the policies in so far as such disputes relate ot claims; delay in settlement of claims; non-issue of any insurance document to customer after receipt of premium.
A fund that does not have a fixed number of shares (as does a closed end fund or stock). The mutual fund will offer as many shares, as investors are willing to buy. These funds need to be bought through a broker. Most funds are open-ended unless otherwise noted.
Getting customers to buy a life insurance product that they cannot afford
Insurance on which all required premiums have been paid.
An insurance policy that participates in the profits of the insurance fund.
The cause of a possible loss.
PERSON OF INDIAN ORIGIN ( PIO )
For the purposes of availing of the facilities of opening and maintenance of bank accounts and investments in shares / securities in India: A foreign citizen (other than a citizen of Pakistan or Bangladesh) is deemed to be of Indian Origin, if, (i) he, at any time, held an Indian passport, or (ii) he or either of his parents or any of his grand parents was Citizen of India by virtue of Constitute of India or Citizenship Act, 1955 (57 of 1955). Note: A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian Citizen or of a person of Indian Origin is also treated as a person of Indian Origin for the above purposes provided the bank accounts are opened or investments in shares/ securities in India are made by such persons only jointly with their NRI spouses. For investment in immovable properties: A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka, or D33Nepal), is deemed to be of Indian origin if, (i) he held an Indian passport a any time, or (ii) he or his father or paternal grand-father was a Citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).
PERSONAL HEALTH STATEMENT (PHS)
A health statement (declaration) of the insured provided by the customer along with the revival application for the lapsed policy
The written contract and certificate affecting insurance, and including all clauses, riders, endorsements, and papers attached to it.
Life Insurance Contract, Policy and Policy document mean the same thing and both contain the benefits and the terms of the policy.
Owner is the person who has the legal title to the policy.
The period during which a Policy contract affords insurance.
A lapsed policy can be revived before the date of maturity within five years from the date of first unpaid premium. The policyholder needs to submit proof of his ability to pay future premium. All premium arrears, with interest, have to be cleared. IDBI Fortis reserves the right to accept the offer for revival. Evidence of good health may be required.
Period between policy anniversary dates.
Policy owner and policyholder are the same persons.
The collection of all holdings of a fund, such as bond's and stocks. In a fund's annual report, a list of the fund's current portfolio will usually be contained
This is the contribution / payment that a policyholder makes to a life insurance company to obtain insurance cover. He or she has a responsibility to ensure that the correct amount states is paid as and when it falls due as stated in the policy document.
PREMIUM ALLOCATION CHARGES
This is a percentage of the premium appropriated towards charges before allocating the units under the policy. This charge normally includes initial and renewal expenses apart from commission expenses.
Notice of a premium due, sent out by the company or one of its agencies to an insured. Synonym for " Renewal Notice".
In a unit linked life insurance policy, your premium is allocated to different funds in a proportion that you select in the application form. However, you can alter this proportion at any time during the policy and all premiums that you pay thereafter will be invested in the new proportion. This facility is called premium redirection.
is the authenticaion of a Will by a competent court.
Proposer is a person who proposes the insurance policy.
To restore the policy after the insurance policy has lapsed.
Automatic reestablishment of an insurance policy's in-force status, through payment of the premium due on or before the due date
RENEWAL INTIMATION / RENEWAL NOTICE
Reminder letter for premium payment due sent to the customer holding policies (other than monthly payment mode) usually 30 days in advance of the renewal premium payment due date
Periodic insurance policy premium payable after the initial premium
RENEWAL REMINDER NOTICE (GRACE PERIOD)
Reminder letter for premium payment due, sent to the customers holding policies who have failed to pay on or before the renewal payment due date however have grace period available to make the payment
REVIVAL / REINSTATEMENT
Putting a lapsed policy back in force by producing satisfactory evidence of insurability and paying the required past due premiums
Marketing campaign to revive (reinstate) the lapsed policies
Revival period is a period of time (before the date of policy maturity) usually within 2 years from the date of first unpaid premium, during which time the insured can pay all past premiums plus interest due and bring the lapsed policy in force
A policy rider is a provision or modification to an existing insurance policy that provides additional coverage. Common examples include disability waiver of premium, which allows you to stop paying premiums for a policy if you become disabled for a sustained period of time; death benefit, which pays additional benefit in the event of a death resulting from an accident and a family income benefit rider, which guarantees that your family will continue to receive your monthly income if you die.
The obligation assumed by the insurer when it issues a policy. The spreading of risk across a broad base of the population, adjusted for statistical probability, and the protection against catastrophic loss, is the entire purpose of insurance. For risk assumption purposes, death is viewed as a contingency. That is, although death is certain, its timing is unknown. The process of evaluating and selecting risk is known as underwriting.
The amount of capital that an individual is willing to lose in order to generate a potential profit.
This part of the underwriting process whereby the risk of the happening of the insured event to the life insured in evaluated and a decision is made if the case can be accepted on terms applied for by the insured. It is done by examining all information in hand and obtained as its request and using the weight of experience and statistical evidence and studies.
The process whereby applicants with similar levels of risk are placed in a separate basket so that the appropriate pricing is charged for the individuals within each respective basket.
Means places or areas classified as ‘rural’ while conducting the latest decennial population census (Census of India). Each insurance company is required to do business in rural sector. There is a rural obligation that has been prescribed by IRDA
SINGLE PREMIUM POLICY
A policy that only requires a one-time upfront payment.
Is a trustee appointed under Section 6 of the Married Women’s Property Act, 1874. The Special Trustee can receive the sum assured, death or maturity benefit and hold the same in trust for the beneficiaries.
STANDING INSTRUCTION (SI)
A remittance service by which a customer can instruct a Bank to effect regular funds transfers at pre-set timings and amounts from the customer's deposit account to designated beneficiary account(s).
SUB STANDARD RISK
Person who is considered an under-average or impaired insurance risk because of physical condition, family or personal history of disease, occupation, residence in unhealthy climate or dangerous habits.
Limitation in life insurance policies to the effect that no death benefits will be paid if the insured commits suicide during a specified initial period, usually the first one year of the policy.
The guaranteed amount that the policyholder is insured for.
The act of cancelling or cashing in the proceeds of an insurance contract before it becomes payable or reaches its maturity date for a surrender value.
Fee charged to a policyholder when a life insurance policy or annuity is surrendered for its cash value. This fee reflects expenses the insurance company incurs by placing the policy on its books, and subsequent administrative expenses.
A set amount of time during which you have to keep the majority of your money in an annuity contract. Most surrender periods last from five to 10 years. Most contracts will allow you to take out at least 10% a year of the accumulated value of the account, even during the surrender period. If you take out more than that 10%, you will have to pay a surrender charge on the amount that you have withdrawn above that 10%.
The surrender or cash value is the amount payable to the policyholder should the policyholder decide to discontinue the policy. However, the insurance protection provided under the policy will also cease. Not all insurance policies have surrender or cash values.
The tenure of the policy.
TERM LIFE INSURANCE
A type of life insurance where the sum assured is payable only in the event of death of the insurer during the specified term. In the case of survival, the contract expires and the premium is not paid back to the insured.
A diagnosis that we have accepted from a specialist medical practitioner appointed by IDBI Fortis that the insured person is terminally ill and expected to live for no more than six months from the date of diagnosis is made and that active therapy has been rejected in favour of relief of symptoms.
Is someone who is involved in a claim or payment of premium, who is neither the policyholder nor the insurer.
Is a legal instrument, which allows one party to control the property/ies for the benefit of another.
Getting customers to buy a life insurance product lesser than they can afford
A unitised contract where the price of the units is directly related to the value of assets in the fund, or unit trust.
UTMOST GOOD FAITH
Already covered in doctrine of utmost good faith
This is the age when the rights under the policy vests with the name individual.
It is the Bonus, which the insurer declares after evaluating its assets and liabilities, and that is added to the sum assured under a policy.
Generally used in the context of pension plans and children’s plans offered by life insurance companies. It is a date signifying a milestone in a policy. In pension plans, it is the date from which the policyholder starts receiving pension. In children’s plans, it is the date from which a child becomes the owner of a policy taken out in his name (generally, around his 18th birthday).
Is a legal declaration containing instructions on how to dispose off one's Estate after his/her death. A Will is intended to come into effect after death of the person making the Will. “Will” also includes the codicils (any alteration, addition or explanation to the Will).
Without intent, selling a product which was not required or originally asked by the customer; wrong selling usually happens due to incomplete and inadequate understanding of customer needs vis-à-vis product characteristics
Income or dividends received from a security or fund
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Life Insurance Council
Grievance Redressal Policy
IRDAI Customer Education
IRDAI Public Notice on Spurious Calls
Corporate Social Responsibility
The Company has appointed the Branch Heads of the respective branches of the Company as the “Grievance Officer” for their respective offices. The Compliance Officer of the Company is designated as the Chief Grievance Redressal Officer.
Registered Address: IDBI Federal Life Insurance Co Ltd, 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East),Mumbai 400013, India.
IRDAI Registration No. 135, 19th Dec, 07. Corporate Identity Number (CIN) – U66010MH2007PLC167164. Insurance is the subject matter of the solicitation. Tax Benefits are as per the Income Tax Act, 1961, and are subject to changes made thereto from time to time. *SMS charges up to Rs.3 apply.
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