Question – Disclosure in Life Insurance form

POSTED BY Sandeep Sandeep ON August 17, 2013 9:43 pm ONE COMMENT

I have taken out HDFC click2protect Life Insurance of Rs.1.5 Cr cover

I already had LIC Jeevan Saral



250 Times the Monthly Premium + Return of Premiums (excluding Extra/Rider Prem. & First Year Prem.) + The Loyalty Additions (if any)

Intial cover – Rs. 42.50 lakhs (excluding rider)



Accidental cover – Rs. 42.50 lakhs (rider)

Therefore initial cover comes to Rs.42.50 lakhs (with an additional  rider of Accidental cover of 42.50 lakhs). The initial Insurance increases every year as I pay yearly premium + expected loyalty.

In the Insurance form I had mentioned Rs.42.50 lakhs as cover. Is this correct ? Do I need to include riders ? or anything else ?

Please advice?




One reply on this article “Question – Disclosure in Life Insurance form”

  1. Dear Sandeep, your cover is limited to just 42.5L Rs. the yly addition is the return on the investment part of your prem. & not the sum assured. Rider sum assured is not the part of basic cover & hence it should not be reported either.



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