Insurance -Terms & Conditions

1. 1. Declaration
    

__ I/We hereby declare on my behalf and on behalf of all persons proposed to be insured that the above statements, answers and / or particulars given by me/us are true and complete in all respects to the best of my / our knowledge and that I/We am/are authorized to propose on behalf of these other persons. 

__ I/We understand that the information provided by me / us will form the basis of insurance policy, is subject to the Board approved underwriting policy of the Insurance company and that the policy will come into force only after full receipt of 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 doctor or hospital who/which at anytime has attended on the person to be insured/ proposer or from any past or present employer concerning anything which affects the physical or mental health of the person to be insured/proposer and seeking information from any Insurer to whom an application for insurance on the person to be Insured / 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 / our proposal including the medical records of the Insured / Proposer for the sole purpose of underwriting the proposal and/or claims settlement and with any Governmental and/or Regulatory Authority 

__All the information/particulars in the enrolment form is filled and declared by Customer. Customer has authenticated his/her information through One Time Password send to his/her mobile number and email <<xxx@xxmail.com>> 

I agree that this declaration shall be the basis of the decision by Niva bupa Health Insurance Company Limited to cover or not cover me under insurance.  

 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 

Member Declaration

Applied, Accepted, Authenticated, Signed and Delivered by the Borrower through NetBanking using my NetBanking Customer ID & Password, by ticking the "I agree" icon on the online system/NetBanking/Website of HDFC Bank as well as by entering one time password (OTP). 

Date: 

Place: 

1. 2. Statutory Warning (Prohibition of Rebates)
    

1. i. 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 in respect of 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 maybe allowed in accordance with the published prospectus or tables of the insurer. 

1. ii. Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to Ten Lakh Rupees. 

Terms & Conditions

Insurance is the Subject matter of the solicitation 

1. i. For any loss reported under the section of Health Plus, Everyday Health, and Xpress Health the loss will be paid by the Insurance Company under "Assignee Clause” 

1. ii. On Receipt of request from HDFC Bank Ltd, for cancelation of Insurance, due to for example, cancelation of loan, foreclosure of Loan, payment default etc 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.) 

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. 10 Lakhs.  

Member Declaration

Applied, Accepted, Authenticated, Signed and Delivered by the Borrower through NetBanking using my NetBanking Customer ID & Password, by ticking the "I agree" icon on the online system/NetBanking/Website of HDFC Bank as well as by entering one time password (OTP). 

Digital Journey Content Draft : Most Important Document - Life Insurance 

1. Product Overview

• Plan Name: Group Credit Protect Plus 
• Objective: Loan Cover – Pure Protection 
• Premium Type: Single Premium 
• Master Policyholder: HDFC Bank 
• Coverage Type:  
  
  Level 
  
  Reducing 
  (as applicable)

2. Coverage & Benefits Understanding

• I confirm that I have understood the coverage, benefits, features, and terms & conditions of the plan. 
• I am aware that similar life insurance plans are available with other insurers in the market. 
• I voluntarily agree to proceed with this application based on my individual insurance need. 

3. Partner Life Insurance Companies

 
HDFC Bank has tie‑ups with the following life insurance companies: 

• HDFC Life Insurance Company Limited 
• Tata AIA Life Insurance Company Limited 
• Aditya Birla Capital Life Insurance Company 

All relevant product details applicable to the respective empanelled partner have been disclosed to me. 

4. KYC Sharing Consent

I hereby grant consent to HDFC Bank Ltd. to share my KYC and customer due‑diligence information with the selected life insurance company for the purpose of processing my insurance proposal. 

Voluntary Opt‑In Confirmation

 
I understand that the insurance plan selected by me is purely voluntary and: 

• is based on my own requirement, and 
• is not linked to loan sanction, renewal, OD approval, or line of credit provided by HDFC Bank. 

6. Policy Tenure vs Loan Tenure Advisory

(Applicable only when policy tenure < loan tenure)

 
Your selected insurance policy tenure is shorter than your loan tenure. 
You confirm that: 

• You have been counselled about the risks of choosing a shorter insurance tenure. 
• You understand the implications of the insurance policy not being co‑terminus with the loan. 

7. Consent for Deposit of Claim Amount into Loan Account

 
I authorize the selected life insurance company (HDFC Life / Tata AIA Life / Aditya Birla Capital Life) to: 

• Settle the Outstanding Loan Balance from the claim proceeds, and transfer the payout directly to HDFC Bank (Master Policyholder),as per the terms of the Group Life Insurance Policy. 
• Any remaining amount after settling the outstanding loan will be paid to me or my nominee. 
• Upon payment of the claim amount by the concerned insurance company in the manner specified under the policy, I hereby fully discharge the insurer from all liabilities and claims arising under the policy. This discharge shall be binding upon me and my heirs, executors, administrators, successors, and legal representatives. 

8. Important Disclaimers

• Insurance cover is subject to the insurer’s approval and underwriting process. 

• The insurer reserves the right to accept or reject the proposal. 

• In case of proposal rejection or premium discrepancy, the amount will be refunded or adjusted toward the loan outstanding. 

• Commission structure is disclosed in HDFC Bank branches and on the Bank’s website. 

Terms & Conditions- HDFC Life

ABHA (Life to be Assured). NARASIMHA MURTHY C ABHA (Co-Borrower/Joint Life) Declaration for Ayushman Bharat Health Account (ABHA): I/we willingly grant my/our explicit consent to HDFC Life Insurance Co. Ltd. to collect, store, process, transfer and archive my/our ABHA (Ayushman Bharat Health Account) information. Furthermore, I/we authorize the sharing of this information with HDFC Life Insurance Co. Ltd.'s reinsurers and their third-party vendors for various purposes including but not limited to underwriting, claims processing, risk assessment, fraud prevention, customer service and outsourced activities linked to the insurance services to be rendered to me by HDFC Life Insurance Co. Ltd. I/we acknowledge that I/we have the right to opt out of this consent at any time by contacting HDFC Life Insurance Co. Ltd. 

• I understand, agree and confirm that these statements and this declaration are basis of the contract between the insurer and the policyholder. Subject to Section 45 of the Insurance Act 1938 as amended from time to time, if any untrue statements are contained herein or there has been any non‑disclosure of any material fact, the policy to be issued by the insurer in the name of the policyholder may be treated as void as far as I am concerned.
• I confirm that I have read and understood, the rules and any additional rules of the plan, the standard policy provisions and any additional provisions that govern the policy to be issued by insurer in the name of the policyholder and on my life, and I agree and confirm that the same shall be binding on me. 
• I authorise the policyholder to disclose to the insurer such particulars as they may require including the details given above and any changes to the same, pay the premium payable on my behalf / collected from me to the insurer. 
•  I understand that any statutory levy or charges including any indirect tax may be charged to me either now or in future by the insurer and I agree to pay the same. 
• I understand that HDFC Life Insurance Company Limited (HDFC Life) has the right to reject a proposal without giving reasons thereto and confirm to give an undertaking that I shall not raise any claims thereof. 
• I understand the significance of the contract and that the contract will be governed by the provisions of the Insurance Act 1938 as amended from time to time and that the same will not commence until written acceptance of this application issued by the insurer on its normal terms and conditions is received. 
•  I further agree that if after the date of submission of the proposal but before the issuance of Policy 
  (i) there is an adverse change in my occupation, financial condition, health condition, which will affect the decision of the Company in underwriting risk or 
  (ii) if the proposal for assurance or an application for revival of the policy made to any insurer on my life or the Life to be assured is withdrawn or dropped, deferred, declined or accepted on terms other than as proposed, 
  I shall forthwith intimate the same to the company in writing and failure to do so shall lead to a decision as per the applicable terms and conditions of the policy. 
  I hereby declare that the content of the form and document has been fully
• explained to me and I have fully understood the significance of the proposed contract. 
• I understand and agree that in case any error, omission, incorrect information, blank forms, etc. are detected at the claim stage because of lapses on the part of the scheme member, such claims shall be treated as invalid by the insurer and the claim pay‑out shall not be processed. 
• I understand that any If any of the requirement/s raised by the insurer including further requirements pertaining to medical tests/reports/investigations are not completed within three months from the date when the member enrolment details were shared by the Master Policy Holder (MPH) with the insurer, the received premium amount for the said enrolment, would be refunded and the respective member's enrolment shall be deemed as withdrawn. 
• I declare and hereby consent and authorize the Company or any of its authorized representatives to seek medical information from any doctor or from a hospital who at anytime has attended me or from any past or present employer concerning anything which affects my physical or mental health and seeking information from any insurance company to which an application for insurance has been made for the purpose of underwriting the proposal and /or claim settlement. 
•  In the event of change in age from the declared age before the risk commence Date, the sum assured may be revised to adjust for the possible premium shortfall. 
• I acknowledge that in conjunction with obtaining the loan from the Master Policyholder, I am taking an insurance cover from HDFC Life to safeguard myself against a loan default on the occurrence of any contingent event as cover under the COI issued to me. Further, I hereby grant explicit consent to the MPH for including the insurance premium amount payable by me in the loan EMI (subject to confirmation by MPH) and paying it directly to the insurance company. 

Declaration

 ASSIGNMENT AS PER SECTION 38 OF THE INSURANCE ACT, 1938 AS AMENDED FROM TIME TO TIME 

I do hereby declare that I have received a loan from M/s HDFC Bank (“Master Policyholder”). In order to secure the said loan, I hereby agree to assign the insurance cover provided to me under the above referenced Master Policy and the Certificate of Insurance in favor of the Master Policyholder as per Section 38 of The Insurance Act, 1938 as amended from time to time. 

The said assignment is to the extent of the outstanding loan amount as per outstanding loan schedule to be issued by the Master Policyholder on the date of occurrence of the contingent event. 

Good Health Declaration

1- Have you ever suffered or are currently suffering from: 

(a) Chest Pain or heart attack or any other heart disease 
(b) Cancer, tumor, growth or cyst of any kind 
(c) Stroke, paralysis Epilepsy, any psychiatric / mental disorder, disorder of brain/nervous system or any kind of physical disabilities 
(d) Asthma, Tuberculosis, pulmonary obstructive disease or other lung disorder 
(e) Diseases or disorder of muscles, bones or joints, arthritis or blood disorder, anemia or any endocrine disorder, congenital disorder, genetic disorder 
(f) Diseases of the kidney, digestive system (stomach, pancreas, gall bladder, intestine), liver, Hepatitis B or C or HIV/AIDS infection or sexually transmitted disease 
(g) Diabetes, high blood pressure 
(h) Any Other disorders. 

2- During the last 5 years have you undergone any major surgery or been hospitalized for more than one week or have taken leave from work for more than 5 consecutive days due to any medical reason? 

3- Are you taking any medication or has a doctor ever attended to you for any conditions, diseases or impairment not mentioned above (except for cough or cold)? 

4- Has more than one of your parents and siblings died before the age of 60 years as a result of heart attack, stroke, cancer, diabetes, HIV, kidney failure or any other chronic or hereditary / familial disorders? 

5- Have you ever been declined, deferred, and accepted at special terms, had cover reduced or had exclusion imposed for any insurance cover in India or abroad? 

6- Do you take part in any adventurous sports or hobbies? 
(like paragliding, mountaineering, deep sea diving, motor racing, bungee jumping, etc.) 

7- Do you currently smoke more than 10 cigarettes / bidis per day or chew more than 5 pouches of tobacco per day or consume alcohol more than (wine- 180 ml, Beer – 350 ml, Hard liquor – 45 ml) a day or using / ever used any Narcotics or any other drug? 

8- Is your occupation or business associated with any hazard 
(e.g. exposure to chemical substances/hazardous materials/harmful dust or gases/ explosives/ working at heights/ handling heavy machinery etc.)? 

9- For Female Lives: 

(a) Are you currently pregnant at 20 weeks or more or have you ever undergone abortion, miscarriage, or any complications during pregnancy? 
(b) Have you given birth within the last 12 weeks? 
(c) Have you ever had any disease of breast, uterus, cervix, ovaries or any other part of the reproductive system? 
 
10- Have you ever been or currently being investigated, charge sheeted, prosecuted or convicted or acquitted or having pending charges in respect of any criminal/civil offences in any court of law in India or abroad? 

11- Do you have any group risk cover as a scheme member through the same Master Policy holder (lender) or any other Master Policy holder where HDFC Life is an insurer? 

12- Are you a Politically Exposed Person? 
Confirmation: I agree that my response to all the above questions is”NO”