Health Plus (Table no 901) *

[DINESH, LEADING LIC AGENT]

hello sir,

As per the circlar, no proof of insurability is required if premium is paid for more than 3 yrs and lapsation less than 2 yrs., since hcb is deducted regularly...

try for spot payment across cash counter or shown circular details as below to ps people and get it updated....

CIRCULAR POINT NO.19. STATES...

REVIVALS / REINSTATEMENT:

A lapsed policy can be revived during the period of two years from the due date of

first unpaid premium or before the end of policy term, whichever is earlier. The

period during which the policy can be revived will be called “Period of revival” or

“revival period”.

If premiums have not been paid for atleast 3 full years: The policy may be

revived within two years from the due date of first unpaid premium. The revival

shall be made on submission of proof of continued insurability to the satisfaction of

the Corporation and the payment of all the arrears of premium without interest.

Irrespective of what is stated above, if less than 3 years’ premiums have been paid

and the Policy Fund is not sufficient to recover the charges (other than health

insurance charges), the policy shall be terminated compusorily. The balance

amount in the Policyholder’s Fund Value, if any, will be refunded to the

policyholder immediately as the amount will be negligible. Such a policy may be

reinstated within the revival period on submission of proof of continued insurability

to the satisfaction of the Corporation by payment of all the arrears of premium

without interest. Corporation in that case reserves the right to accept the revival

at its own terms or decline the revival of a lapsed policy. The revival of such

lapsed policy shall take effect only after the same is approved by the Corporation

and is specifically communicated in writing to the Principal Insured.

If atleast 3 years’ premiums have been paid and subsequent premiums are not

paid: The policy may be revived within two years from the due date of first unpaid

premium but before the end of policy term, if earlier. No proof of continued

insurability is required and all arrears of premium without interest can be paid.

The PI may also avail Premium Holidays as mentioned in Para 12 d. above. The

charges for Daily Hospital Cash Benefit and Major Surgical Benefit, in that case,

will continue to be deducted till

i. the Policy Fund has a minimum balance of one annualized premium, or

ii. the lives covered reach the benefit ceasing age, or

iii. the benefits are terminated as conditions mentioned in Para 6.a and 6.b, or

iv. the end of revival period, or

v. the policy reach the end of policy term, or

vi. the policy is terminated due to death or other reasons, if any,

whichever is earlier.

If 3 years or more than 3 years’ premiums have been paid and the Policy Fund

value, during the revival period, reduces to one annualised premium, the policy

will be compulsorily terminated and Policy Fund value as on such date shall be

refunded to the PI. Such a policy may be reinstated on submission of proof of

continued insurability to the satisfaction of the Corporation by payment of all the

arrears of premium without interest. Corporation in that case reserves the right to

accept the revival at its own terms or decline the revival of a lapsed policy. The

revival of such lapsed policy shall take effect only after the same is approved by

the Corporation and is specifically communicated in writing to the Principal

Insured.

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Thanks & Regards 

S. DINESH KUMAR JAIN,

MEMBER COT,MDRT(USA)

LIC OF INDIA

CORPORATE CLUB MEMBER

BANGALORE

Mob # 9845219483

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[c s]

TQ for yr valuable reply on revival of LIC's Health Plus Plan. It is of great help to our Agents. Truly, H A Chandrashekar, Bangalore --- On Fri, 21/12/12, DINESH, LEADING LIC AGENT <dinesh...@gmail.com> wrote:

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