Insurance -Terms & Conditions

Bajaj Allianz- Loan Protect 

Terms & Conditions 

• Entry age: Self 18-70 year  

• Policy Tenure- 1/2/3/4/5 year for Group Guard & Flexi Health Protect Plan 

• Proof of loan shall be mandatorily provided at that time of claim. 

• Under Recovery Relief (EMI protect) 1 year waiting period for PED applicable. 

• Under Recovery Relief (EMI protect) 1 year waiting period for specific diseases applicable. 

• Initial 30 days waiting period under Recovery Relief. 

• All other terms, conditions and exclusion will be as per standard Flexi Health Protect Plan Group, Group Guard Policy wordings. 

Covers:-  

• Cancellation of Certificate of Insurance: Cancellation a) The Insured Beneficiary may cancel the Certificate of Insurance by giving 15days’ written notice, and in such an event, the Company shall refund premium on short term rates for the unexpired Cover Period as per the rates detailed below.. 

Notwithstanding anything contained herein or otherwise, no refunds of premium shall be made in respect of Cancellation where, any claim has been admitted or has been lodged or any benefit has been availed by the Insured Beneficiary under the Certificate of Insurance.  

b) The Company may cancel the Certificate of Insurance at any time on grounds of misrepresentation, non-disclosure of material facts, fraud by the Insured Beneficiary, by giving 15 days’ written notice. There would be no refund of premium on cancellation on grounds of  misrepresentation, non-disclosure of material facts or fraud. 

I/We understand that the insurance plan being opted by me / us is purely on voluntary basis and is in no way linked to granting of the loan / OD / line of credit by HDFC Bank (this should be placed just above the customer signature portion in the enrolment part) 

* For detailed policy wordings, please refer to the website of HDFC Bank 

CANCELLATION/TERMINATION Clause 

 Once the Insured ceases to be a member or the policy is cancelled by the Master policyholder or the insurer for any reason whatsoever, the cover will automatically stand cancelled. However, the Insured under this policy can port to a similar approved retail health policy available with the company as per 'Portability Guidelines', subject to the Company's underwriting criteria. On Receipt of request from HDFC Bank Ltd, for cancelation of Insurance, due to for example, cancelation of loan, forfeiture of Loan, payment default etc and policy cancelation by the Insurer to cancel the policy and prorate premium for the remaining tenure of the loan would be refunded to HDFC Bank Ltd and the insurance would cease to exist. 

Assignment clause: 

It is here by declared and agreed that:　 

1. From the Policy Start Date, the monies payable by the Company to the Insured and all rights , title , benefits and interest of the Insured under this Policy in section mentioned above stand assigned in favour of the “Bank / Financial institution as named in the Schedule of this Policy ”;　 

2.Upon any monies becoming payable under this Policy the same shall be paid by the Company to the “ Bank / Financial institution as named in Schedule of this Policy ” with reference / notice to the Insured , but not exceeding the Principal Outstanding as defined under the Policy . In the event of any monies pay able under this Policy exceeding the Principal Outstanding, the Company shall pay such nominees as exceeding the Principal Outstanding to the Insured /Nominee;　 

3.The receipt of such monies in the manner aforesaid by the Bank/Financial Institution and / or the Nominees, as the case may be, as named in the Schedule of this Policy and the Insured shall completely discharge the Company from all liability under the Policy and shall be binding on the Insured and the heirs, executors, administrators, successors, or legal representatives of the Insured, as the case may be.　 

4.That any adjustment, settlement, compromise, or reference to arbitration in connection with any dispute between the Company and the insured or any of them arising under or in connection with this policy if made by the Financier shall be valid and binding on all parties insured here under but not so as to impair rights of the Financier to recover the full amount of any claim it may have on other parties insured here under but not so as to impair. I have read, understood & accepted the assignment clause mentioned above & the assignee or this Proposal Form would-be HDFC Bank Ltd. 

Consent for Transfer into Loan Account Number: 

I hereby declare, agree and confirm that: From the Certificate Risk Start Date, any claim payable by the Company under this Certificate of Insurance shall be deposited directly in the loan account number maintained by the "Bank /Financial Institution as named in the Certificate of Insurance ". In the event of any claims becoming payable under this certificate of Insurance , the same shall be deposited by the Company in the aforementioned loan account held with the "Bank/Financial Institution as named in the Certificate of Insurance " without any reference / notice to the undersigned, but not exceeding the Principal Outstanding as defined under the certificate .In the event of any claims payable under this certificate exceeding the Principal Outstanding, the Company shall pay such claim amount exceeding the Principal Outstanding to the undersigned. Upon receipt of such claim amount in the manner aforesaid by the Bank/Financial Institution as named in the certificate of insurance and the Insured shall completely discharge the Company from all liability, claims under the certificate of Insurance and shall be binding on the undersigned and the heirs, executors, administrators, successors, or legal representatives of the Insured, as the case may be. 

Declaration & Warranty on behalf of all Persons proposed to be insured: 

I/We hereby declare on my behalf and on behalf of all persons proposed to be insured that the above statements are true and complete in all respects to the best of my knowledge and that I/We am/are authorized to propose on behalf of these other persons. I understand that the information provided by me will form the basis of insurance policy, is subject to the Board approved under writing policy of the Insurance company and that the policy will come into force only after full receipt to the premium chargeable. I/We further declare that I/We will notify in writing any change occurring in the occupation or general health of the life to be insured/proposer after the proposal has been submitted but before communication of the risk acceptance by the company. I/We declare and further consent to the company. Seeking medical information from any hospital who at any time has attended on the life to be insured/ proposer or from any past or present employer concerning anything which affects the physical and mental health of the life to be assured/proposer and seeking information from any insurance company to which an application or insurance on the life to be assured/proposer has been made for the purpose of underwriting the proposal and /or claim settlement. I/We authorize the company to share information pertaining to my proposal including the medical records for the sole purpose of proposal underwriting and/ or claims settlement and with any Governmental and/or Regulatory Authority  

Note: The liability of the company does not commence until the acceptance of the proposal has been formally intimated by the insured and full premium has been realized by the company. 

We are under no obligation to accept any proposal for insurance. The Proposer agrees that the receipt of the Proposal Form by selected Insurance Company Limited along with the premium payment does not tantamount to the acceptance of the Proposal for insurance by selected Insurance Company Limited and does not result in a concluded contract of insurance. The acceptance of the Proposal for insurance shall be at the Company's sole and absolute discretion and upon full realization of the premium payment. In the event of acceptance of the Proposal for insurance by selected Insurance Company Limited, such acceptance shall be specifically intimated to the Proposer by Selected Insurance Company Limited along with the date from which the insurance Cover shall become effective. Selected Insurance Company Limited shall not be liable for any claim in respect of an event giving rise to a claim covered under the Policy of Insurance that has occurred prior to policy issuance is not covered under this policy(Your proposal form will be considered after Selected Insurance Company Limited receives premium payment.) 

Fraud Warning: This policy shall be voidable at the option of the Company in the event of misrepresentation, mis-description or non-disclosure of any material particulars by the Proposer. Any person who, knowingly and with intent to fraud the insurance company or any other person, files a proposal for insurance containing any false information, or conceals or the purpose of misleading, Information concerning any fact material thereto, commits a fraudulent insurance act, which will render the policy voidable at the sole discretion of the insurance company and result in a denial of insurance benefits. 

Anti-Rebating Warning: As per Section 41 of the Insurance Act 1938,as amended, the practice of rebating is prohibited, as follows: No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance policy in respect to any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the insurer. Violation of Section41 of the Insurance Act 1938, as amended, shall be punishable with a fine which may extend to Rs.10Lakhs. 

I/We understand that the insurance plan being opted by me / us is purely on voluntary basis and is in no way linked to granting of the loan / OD / line of credit by HDFC Bank     

Terms & Conditions 

HDFC Ergo- Health  

Offering is structured from HDFC ERGO Group Health Insurance for loan customers of HDFC Bank Credit Cards

1.Medical Declaration 

Good Health Declaration: 

I hereby declare that I am not suffering from any major/ chronic health problem(s), major disease/disorder impacting vital organs (Heart,Brain, Kidneys, Lungs, Liver, Pancreas, Spleen, and Intestine etc) or deformity other than minor ailment like Cold, Cough, and Fever etc. I hereby also declare that I have never undergone or awaiting any major medical or surgical treatment/ procedure or follow-up. I also understand any non-disclosure in respect to any disease(s), treatment(s) and/or duration of the disease(s) may result in denial of the claim and/or cancellation of your policy. Pre-existing medical condition(s) will be covered after the waiting period, as mentioned in the policy 

I agree that I have read the below clause and do not have any of the health issues mentioned from point no.1 to 10 

1Any disease requiring medication for > 15 days except uncomplicated diabetes and hypertension, hypothyroidism.2) Any disease where a surgery is planned in the next 3 months 3) Any disease which required a hospitalization for > 10 days 4) Heart Diseases: Example heart attack, heart failure, arrhythmias, cardiomyopathies, diseases of heart valves, diseases of heart rate rhythm ,any disease needing open heart surgery, Rheumatic heart disease 5) Lungs: Chronic lung diseases, chronic airway diseases, pneumoconiosis, asbestosis 6) Transplantation of major organs (Lung, Liver, Kidney, heart) or any Disease requiring them. 7) Neuromuscular diseases : Example Stroke, Bleeding in brain, muscular dystrophies, Parkinson's disease, Multiple sclerosis, Motor Neuron Disease .8) Chronic Liver diseases, Hepatitis B, Hepatitis C, Diseases of Pancreas 9) Disorders of blood and immunity (Exp Rheumatoid Arthritis, Systemic Lupus Erythematosus, Crohn's disease, Ulcerative Colitis) 10) Chronic Kidney Disease. 

2.Terms,Conditions And Acknowledgement Applicable To Hdfc Ergo General Insurance Company Limited 

Declaration & Warranty on behalf of all Persons proposed to be insured: 

•I/Weherebydeclareonmybehalfandonbehalfofallpersonsproposedtobeinsuredthattheabovestatementsaretrueandcompleteinallrespects to the best of my knowledge and that I/We am/are authorized to propose on behalf of these otherpersons. 

• I understand that the information provided by me will form the basis of insurance policy, is subject to the Board approved under writing policy of the Insurance company and that the policy will come into force only after full receipt to the premiumchargeable. 

•I/WefurtherdeclarethatI/Wewillnotifyinwritinganychangeoccurringintheoccupationorgeneralhealthofthelifetobeinsured/proposerafterthe proposal has been submitted but before communication of the risk acceptance by thecompany. 

•I/Wedeclareandfurtherconsenttothecompany.Seekingmedicalinformationfromanyhospitalwhoatanytimehasattendedonthelifetobe insured/proposer or from any past or present employer concerning anything which affects the physical and mental health of the life to be assured/ proposer and seeking information from any insurance company to which an application or insurance on the life to be assured/proposer has been made for the purpose of underwriting the proposal and /or claim settlement. 

•I/Weauthorizethecompanytoshareinformationpertainingtomyproposalincludingthemedicalrecordsforthesolepurposeofproposalunderwriting and/ or claims settlement and with any Governmental and/or RegulatoryAuthority. 

• I authorize HDFC ERGO General Insurance and associate partners to contact me via email, phone, SMS. 

• I hereby authorize HDFC ERGO to pay any claim to me under my policy to the above nominee whose discharge will be considered as the full and final discharge on my behalf. 

• I/We hereby declare on my behalf and on behalf of all persons proposed to be insured that the above statements are true and complete in all respects to the best of my knowledge and that I/We am/are authorized to propose on behalf of these other persons. 

• I understand that the information provided by me will form the basis of insurance policy, is subject to the Board approved under writing policy of the Insurance company and that the policy will come into force only after full receipt to the premium chargeable. 

• I/We further declare that I/We will notify in writing any change occurring in the occupation or general health of the life to be 

insured/proposer after the proposal has been submitted but before communication of the risk acceptance by the company. 

• I/We declare and further consent to the company. Seeking medical information from any hospital who at any time has attended on the life to be insured/proposer or from any past or present employer concerning anything which affects the physical and mental health of the life tobe assured/proposer and seeking information from any insurance company to which an application or insurance on the life to be assured/proposer has been made for the purpose of underwriting the proposal and /or claim settlement. 

• I/We authorize the company to share information pertaining to my proposal 

Note: The liability of the company does not commence until the acceptance of the proposal has been formally intimated by the insured and full premium has been realized by the company. 

Declaration & Warranty on behalf of insurer – 

Thank you for applying for an insurance policy offered by HDFC ERGO General Insurance Company Ltd. We are under no obligation to accept any proposal for insurance. The proposer agrees that the receipt of the proposal form by HDFC ERGO General Insurance Company Ltd along with the premium payment does not tantamount to the acceptance of the proposal for insurance by HDFC ERGO General Insurance Company Ltd does not result in a concluded contract of insurance. The acceptance of the proposal for insurance shall be at the company’s sole and absolute discretion and this proposal form will be considered only after HDFC ERGO General Insurance Company Ltd receives premium payment and upon full realization of the premium payment. In the event of acceptance of the proposal for insurance by HDFC ERGO General Insurance Company Ltd such acceptance shall be specifically intimated to the Proposer/Insured Member by HDFC ERGO General Insurance Company Ltd along with the date from which the insurance cover shall become effective . HDFC ERGO General Insurance Company Ltd and shall not be liable for any claim in respect of an event giving rise to a claim covered under the policy of insurance that has occurred prior to policy issuance is not covered under this policy(Your proposal form will be considered after HDFCERGO General Insurance Company Limited receives premium payment.) . 

Fraud Warning: This policy shall be voidable at the option of the Company in the event of mis-representation, mis-description or non-disclosure of any material particulars by the Proposer. Any person who, knowingly and with intent to fraud the insurance company or any other person, files a proposal for insurance containing any false information, or conceals or the purpose of misleading, Information concerning any fact material thereto, commits a fraudulent insurance act, which will render the policy voidable at the sole discretion of the insurance company and result in a denial of insurance benefits. 

Anti-Rebating Warning: As per Section 41 of the Insurance Act 1938,as amended, the practice of rebating is prohibited, as follows: No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance policy in respect to any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the insurer. Violation of Section41 of the Insurance Act 1938, as amended, shall be punishable with a fine which may extend to Rs.10Lakhs. 

Voluntary opt clause- I/We understand that the insurance plan being opted by me / us is purely on voluntary basis and is in no way linked to granting of the loan / OD / line of credit by HDFC Bank. 

We will refund (Excess Premium / PPC reimbursement / Cancellation) directly into your account / card which was used to pay premium for this policy. 

Cancellation/Termination Clause 

Once the Insured ceases to be a member or the policy is cancelled by the Master policyholder or the insurer for any reason whatsoever, the cover will automatically stand cancelled. However, the Insured under this policy can port to a similar approved retail health policy available with the company as per 'Portability Guidelines', subject to the Company's underwriting criteria. On Receipt of request from HDFC Bank Ltd, for cancelation of Insurance, due to for example, cancelation of loan, forfeiture of Loan, payment default etc and policy cancelation by the Insurer to cancel the policy and prorate premium for the remaining tenure of the loan would be refunded to HDFC Bank Ltd and the insurance would cease to exist.  

Cancellation 

a. The Policyholder may cancel this Policy by giving 15 days’ written notice and in such an event, the Company shall refund to the Insured a pro-rata premium for the unexpired Policy Period. Note: For Policies where premium is paid by instalment: In case of admissible claim under the Policy, future instalment for the current Policy Year will be adjusted in the claim amount and no refund of any premium will be applicable during the Policy Year. 

b. The Company may cancel the Policy at any time on grounds of misrepresentation non-disclosure of material facts, fraud by the Insured Person by giving 15 days’ written notice. There would be no refund of premium on cancellation on grounds of misrepresentation, nondisclosure of material facts or fraud. 

c. Refund of Policy premium in case of death of Insured Person/s: Policy premium shall be refunded proportionately for the deceased Insured Person, for the unexpired Policy Period in case of death of any Insured Person/s 

d. Notwithstanding anything contained herein or otherwise, no refunds of premium shall be made in respect of Cancellation where any claim has been admitted or any benefit has been availed by the Insured Person under the Policy 

Free look period: 

The Free Look Period shall be applicable on new individual health insurance policies and not on renewals or at the time of porting/migrating the Policy. The Insured Person shall be allowed Free Look period of fifteen days from date of receipt of the Policy document to review the terms and conditions of the Policy, and to return the same if not acceptable. If the Insured has not made any claim during the Free Look Period, the Insured shall be entitled to i. a refund of the premium paid less any expenses incurred by the Company on medical examination of the Insured Person and the stamp duty charges or ii. where the risk has already commenced and the option of return of the Policy is exercised by the Insured Person, a deduction towards the proportionate risk premium for period of cover or iii. Where only a part of the insurance coverage has commenced, such proportionate premium commensurate with the insurance coverage during such period

5. Special Conditions:  

1. Policy Period : 1 year(Non Loan Linked)  

2. Entry Age for Adults - Minimum entry age 18 years, maximum entry age 65 years and for Children - Minimum entry age: 91 days max entry age 25 years  

3. Type - Individual / Floater  

4. Family Definition - Self, Spouse, 3 Dependent Children  

5. Loan account holder must be covered under the policy  

6. At time of sourcing the policy only the Loan account holders information will be shared ,family information will be made available at time of claim  

7. Rest all other Terms and Conditions as per the product policy wordings.

HDFC ERGO General Insurance Company Limited.IRDAI Reg. No.146. CIN: U66030MH2007PLC177117. Registered & Corporate Office: 1st Floor,HDFC House, 165-166 Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai – 400 020. Customer Experience Management, Customer Happiness Center: D-301, 3rd Floor, Eastern Business District (Magnet Mall), LBS Marg, Bhandup (West), Mumbai - 400 078. . For Claim/Policyrelated queries call us at +91 22 6234 6234/+91 120 6234 6234 or Visit Help Section on www.hdfcergo.com for policy copy/tax certificate/make changes/register & track claim or simply text “Hi” on WhatsApp number 8169 500 500 for instant policy servicing. Trade Logo displayed above belongs to HDFC Bank Ltd and ERGO International AG and used by the Company under license UIN: HDFC ERGO Group Health Insurance - HDFHLGP24095V022324

Consent on the opted product: - 

• I agree to receive calls, SMS & What’s app messages from the bank and insurance company for the purpose of policy boarding. 
• I authorize HDFC Bank to share my personal information as per bank records with the insurance company for the purpose of issuing the insurance policy. 
• Insurance policy offered in the journey will be booked subject to fulfilment of internal checks and sufficient balance in the credit card account. 
• I authorize HDFC Bank to for debiting insurance premium from my Credit Card. 
• I agree and understand the premium for Health insurance opted is will be debited for 1st year only, From second year onward premium applicable will be paid directly to the insurer for renewal.