YOUR POLICY. If your policy lapsed due to non-payment of premium, you may apply to have it put back into effect. The policy may be reinstated within 30 days of the end of the grace period, by paying to us all overdue Premiums. If this policy is reinstated, the 2 year period for contesting the validity of this policy and any limitations and exclusions begin anew from the date of reinstatement, as set out in the sections entitled “When we will not pay” and “Misrepresentation”.
YOUR POLICY. Although we will check the policy documents we send you, you are responsible for reviewing your policy to ensure that it accurately reflects the cover, conditions, limits and other terms that you require. Particular attention should be paid to any policy conditions, warranties and the claims notification provisions as failure to comply may invalidate your coverage. If there are any discrepancies you should consult us immediately. You are responsible for notifying claims or potential circumstances that may give rise to a claim in accordance with your insurance policy. In presenting a claim it is your responsibility to disclose all facts which are material to the claim. Therefore, to ensure full protection under your policy or similar documentation provided you should immediately familiarise yourself with the coverage conditions or other procedures relating to claims and claims notification. Failure to adhere to the notification requirements particularly with regard to timing requirements may entitle insurers to deny your claim. Therefore, please carefully consider any claims reporting instructions we provide to you because failure to report a claim in a proper and timely manner may jeopardise coverage of the claim. In addition, you should retain copies of all insurance policies and coverage documents as well as claims reporting instructions, as you may need to report claims after the termination of a policy, perhaps long after its expiry date. It is important, therefore, that you keep your policy documents in a safe place. You agree not to permit access by any third party to this information without our express written permission. We reserve our right to take action to protect proprietary information. You will provide settlement with cleared funds of all monies due in accordance with the payment date(s) specified in our debit note or other relevant payment documentation (“Payment Date”). Failure to meet the Payment Date may lead to insurers cancelling your policy, particularly where payment is a condition or warranty of a policy. It is imperative that you meet all payment dates. We are under no obligation to pay premium by the Payment Date to insurers on your behalf.
YOUR POLICY. Your policy does not cover the following:
1 loss of use, wear and tear, depreciation, mechanical, electrical, electronic, com- puter failures, breakdowns or breakages 2 loss or damage incurred while your vehicle was being driven by any person including you if at the time of driving the driver is, with your knowledge, under the influence of intoxicating liquor or drugs (other than drugs taken under medical supervision and not for the treatment of drug addiction) 3 loss or damage caused by overturning arising out of the operation as a tool of your motor vehicle or of plant forming part of your motor vehicle or attached to it. Operation shall mean the use of any such tool or plant when it is not shut down and properly secured for road use
YOUR POLICY. You are responsible for reviewing the evidence of insurance cover to confirm that it accurately reflects the cover, conditions, limits and other terms that you require. Particular attention should be paid to any policy conditions, warranties, and the claims notification provisions. Failure to comply allows insurers to take appropriate remedial action. If there are any discrepancies you should consult us immediately. Claims may be made against a policy long after its expiry date, it is therefore important that you keep your policy documents in a secure place.
YOUR POLICY. If your policy ended because it lapsed due to non-payment of premium, you may apply to have it put back into effect if the insured person is alive. This process is called reinstatement. The policy may be reinstated: within thirty-one days of the end of the grace period, by paying to us all overdue premiums, provided that the insured person is alive at the time such payment is received by us; or within two years of the date of lapse, by providing to us a written request for reinstatement, payment of all overdue premiums and evidence of insurability that we consider satisfactory. If this policy is reinstated, the 2 year period for contesting the validity of this policy and any limitations and exclusions begin anew from the date of reinstatement, as set out in the sections entitled “When we will not pay” and “Misrepresentation”.
YOUR POLICY. Upon payment of the Accelerated Benefit, Your coverage will remain In Force; however, the total Benefit Amount and premium rate of the Policy will be reduced. The Policy Fee will not be reduced. The Benefit Amount and premiums for the Policy will be reduced by the same percentage that was applied to the calculation of the Accelerated Benefit payment. A revised Policy Data Page showing the reduced Benefit Amount and premiums will be provided. If an Accelerated Benefit payment has been made no conversion will be allowed. We may charge a one-time administrative charge of $250 which will be deducted from the Accelerated Benefit.
YOUR POLICY. 1.4.1 Each section sets out the scope of the main coverage and the circumstances in which our liability to you is limited or may be excluded. Further, each section sets out other terms and conditions relevant to that section. The cover provided by each section is only operative if stated as ‘insured’ in the schedule. Where any schedule heading or sub-heading states ‘n/a’, ‘not applicable’ or ‘not insured’ then no cover applies for that item.
1.4.2 Additional clauses set out terms, exclusions or limitations that may apply to more than one
1.4.3 The following general terms apply to all sections, clauses and endorsements:
a) Duties in event of a claim or potential claim;
b) General terms and conditions;
c) General definitions and interpretation; and
d) Complaints.
YOUR POLICY. Entire Contract. The Entire Contract between You, the Owner, and Assurity includes this Policy (the contract of insurance), Your Application (the papers You signed to purchase this Policy), and any riders or endorsements We have attached to this Policy. We have attached a copy of Your Application to this Policy on the Date of Issue.
YOUR POLICY. 1.3.1. The individual sections set out the scope of main coverage and the circumstances in which our liability to you is limited, or may be excluded. Further, each section sets out other terms and conditions.
1.3.2. The general exclusions set out limitations and exclusions that apply to all sections.
1.3.3. The following general terms apply to all sections, clauses and endorsements:
a) claims handling terms and conditions;
b) general terms and conditions;
c) general definitions; d) complaints.
YOUR POLICY. This Bharat Laghu Udyam Suraksha Policy is a contract between You and Us as stated in the following:
i. This Policy document;
ii. The Policy Schedule attached to this Policy document;
iii. Any Endorsement attached to and forming part of this Policy document;
iv. Any Add-on to this Policy that You may have purchased from Us;
v. The proposals and all declarations made by You or on Your behalf;
