Scope of Cover

A sum not exceeding the Capital Sum Insured (outstanding principal of loan), if the Insured Persons sustains Death, resulting solely and directly from accident, caused by external, violent and visible means, to the extent and in the manner hereinafter provided under, Categories of Benefits.

Categories of benefits

Death:
The Capital Sum Insured as stated in Part I of the Schedule (refer the master policy document, which is available on request from ICICI Lombard) will be paid if the death of the Insured Person is within a period of twelve months from the date of bodily injury, and such bodily injury be the sole and direct cause of the death of the Insured Person.

Benefit table A : 100% of principal outstanding.

Exclusions

The insurance company shall not be liable under this policy for:

• Amounts relating to medical expenses.
• Payment of compensation in respect of death of Insured Person (a) from intentional self-injury, suicide or attempted suicide; (b) whilst under the influence of intoxicating liquor or drugs; (c) whilst engaging in aviation or ballooning, or whilst mounting into, or dismounting from or traveling in any balloon or aircraft other than as a passenger (fare-paying or otherwise) in any duly licensed standard type of aircraft anywhere in the world. Standard type of aircraft means any aircraft duly licensed to carry passengers (for hire or otherwise) by appropriate authority irrespective of whether such an aircraft is privately owned or chartered or operated by a regular airline or whether such an aircraft has a single engine or multiengine; (d) directly or indirectly caused by venereal disease or insanity; (e) arising or resulting from the Insured committing any breach of the law with criminal intent.
• Payment of compensation in respect of death of the Insured Person due to, or arising out of, or directly or indirectly connected with or traceable to, war, invasion, act of foreign enemy, hostilities (whether war be declared or not) civil war, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrests, restraints and detainment of all kinds and ,acts of terrorism.
• Payment or compensation in respect of death of the Insured Person engaged in occupation / activities of underground mines, explosives, magazines, electrical installations with high tension supply, jockeys, circus personnel racing on wheels or on horseback, big games hunting, mountaineering, winter sports, skiing, ice-jockey, hand-gliding, river rafting, ballooning, polo and occupations of similar hazard.
• Payment of compensation in respect of death to the Insured Persons :
  
  a) Directly or indirectly caused by or contributed to by or arising from ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel. For the purpose of this exception, combustion shall include any self-sustaining process of nuclear fission.
  
  b) Directly or indirectly caused by or contributed to by or arising from nuclear weapon materials.
• Death resulting directly or indirectly caused by contributed to or aggravated or prolonged by childbirth or pregnancy or in consequence thereof.
• Death arising out of terrorism or act of terrorism

CLAIMS PROCEDURE

1) In the unfortunate of the death of the Borrower the following documents are to be submitted to the Company Claim documents as specified below are to be forwarded to:

Customer Service Manager
(Attn: ICICI Bank Home Loans PA Policy)
ICICI Lombard General Insurance Co Limited
401, Interface Bld. No.11, Link Road,
Malad – West, Mumbai -400064
Ph: 022-28307711

Details of Documents Required:

• Duly filled PA claim form
• F.I.R: Notarised copy
• Post Mortem Report: Notarised copy
• Panchanama: Notarised copy
• Death Certificate: Notarised Copy
• Residence proof of the claimant
• ID proof of the claimant
• Photograph of the claimant

2) The time-frame of the claim settlement to ICICI Bank shall be 21 days of receipt of completed set of documents:

For claim settlement ICICI Bank or the Applicant / Nominee is required to intimate the Company, the name of representative, who could provide the list of documents required. The claim shall be processed and payment will be forwarded to ICICI Bank. Any claim due to violation of law would not be paid.

Terms and Conditions

• Upon the happening of any event, which may give rise to a claim under this Policy, written notice with full particulars must be given to the Company immediately. In case of death, written notice must be given before internment, cremation and in any case, within one calendar month after the death, unless reasonable cause is shown.
• Proof satisfactory to the Company shall be furnished of all matters upon which a claim is based. Any medical or other agent of the Company shall be allowed to examine the insured Person(s) on the occasion of any alleged injury or disablement when and so often as the same may reasonably be required on behalf of the Company and in the event of death to make a post-mortem examination of the body of the Insured Person. Such evidence as the Company may from time to time require shall be furnished and a post-mortem examination report, be furnished within a period of thirty days.
• Compensation shall be payable as specified in the “Basis of Assessment of claims” in Part II of the Schedule of this Policy.
• The scope of cover shall extend on a world worldwide basis, and therefore the cause of action may arise in India or elsewhere.

Note :
Insurance is the subject matter of the solicitation.

Disclaimer:
*ICICI Bank may, at its sole discretion, utilise the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products