Sub: Your Policy no. <<Policy Number>> - HDFC Life Smart Woman

Transcription

1 <<Date (dd mnth year) >> <<Plicyhlder s Name>> <<Plicyhlder s Address>> <<Plicyhlder s cntact number>> Dear <<Plicyhlder s Name>>, Sub: Yur Plicy n. <<Plicy Number>> - HDFC Life Smart Wman We are glad t infrm yu that yur prpsal has been accepted and the HDFC Life Smart Wman Plicy ( Plicy ) has been issued. We have made every effrt t design yur Plicy dcument in a simple frmat. We have highlighted imprtant terms and cnditins s that yu may recgnise them easily. Plicy dcument: As an evidence f the insurance cntract between HDFC Standard Life Insurance Cmpany Limited and yu, the Plicy is enclsed herewith. Please preserve this dcument safely and als infrm yur nminee(s), if any, abut the same. We are als enclsing alngside a cpy f yur prpsal frm and ther relevant dcuments submitted by yu fr yur infrmatin and recrds. Cancellatin in the Free-Lk Perid: In case yu are nt agreeable t any f the prvisins stated in the Plicy, yu have the ptin f returning the Plicy t us stating the reasns theref, within 15 days frm the date f receipt f the Plicy. If yu have purchased yur Plicy thrugh Distance Marketing this perid will be 30 days. On receipt f yur letter alng with the riginal Plicy dcuments, we shall arrange t refund the value f Units allcated t yu n the date f receipt f request plus the unallcated part f the premium plus charges levied by cancellatin f Units, subject t deductin f the prprtinate risk Premium fr the perid n cver, the expenses incurred by us n medical examinatin (if any) and stamp duty. A Plicy nce returned shall nt be revived, reinstated r restred at any pint f time and a new prpsal will have t be made fr a new Plicy. Cntacting us: The address fr cmmunicatin is specified belw. T enable us t serve yu better, yu are requested t qute yur Plicy number in all crrespndences. In case yu are keen n knwing mre abut ur prducts and services, we wuld request yu t talk t yur Certified Financial Cnsultant (Insurance Agent) wh has advised yu while taking this Plicy. The details f yur Certified Financial Cnsultant including cntact details are listed belw. T cntact us in case f any grievance, please refer t Grievance Redressal Cntact Details Annexure. In case yu are nt satisfied with ur respnse, yu can als apprach the Insurance Ombudsman in yur regin whse address is available n ur website Thanking yu nce again fr chsing HDFC Standard Life Insurance Cmpany Limited and lking frward t serving yu in the years ahead. Yurs sincerely, << Designatin f the Authrised Signatry >> Branch Address: <<Branch Address>> Agency Cde: <<Agency Cde>> Agency Name: <<Agency Name>> Agency Telephne Number: <<Agency mbile & landline number>> Agency Cntact Details: <<Agency address>> Address fr Crrespndence: HDFC Standard Life Insurance Cmpany Limited, 11 th Flr Ldha Excelus, Apll Mills Cmpund, N.M. Jshi Marg, Mahalaxmi, Mumbai Registered Office: HDFC Standard Life Insurance Cmpany Limited, Ldha Excelus, 13 th Flr, Apll Mills Cmpund, Mahalaxmi, Mumbai CIN: U99999MH2000PLC128245; website: ID: service@hdfclife.cm Helpline number: (Lcal charges apply)

2 Plicy Dcument - HDFC Life Smart Wman Unique Identificatin Number: 101L082V02 This Plicy is the evidence f a cntract between HDFC Standard Life Insurance Cmpany Limited ( We, r the Cmpany ) and the Plicyhlder ( Yu, r Plicyhlder ) as described in the Plicy Schedule. This Plicy is based n the Prpsal made by the within named Plicyhlder and submitted t the Cmpany alng with the required dcuments, declaratins, statements, << any respnse given t the Shrt Medical Questinnaire (SMQ) by the Life Assured >>, <<applicable medical infrmatin and dcuments>> and ther infrmatin received by the Cmpany frm the Plicyhlder, Primary Life Assured r n behalf f the Plicyhlder. This Plicy is effective subject t receipt and realisatin, by the Cmpany, f the cnsideratin payable as First Premium under the Plicy. This Plicy is written under and will be gverned by the applicable laws in frce in India and all Premiums and benefits are expressed and payable in Indian Rupees. POLICY SCHEDULE Plicy number: << >> Client ID: << >> Plicyhlder Details Name << >> Address << >> Primary Life Assured Details Name << >> Date f Birth << dd/mm/yyyy >> Age n the Date f Risk Cmmencement << >> years Age Admitted <<Yes/N>> Secndary Life Assured Details Name << >> Date f Birth << dd/mm/yyyy >> Age n the Date f Risk Cmmencement << >> years Age Admitted <<Yes/N>> Plicy Details Date f Risk Cmmencement << Risk Cmmencement Date >> Date f Issue << Issue Date>> Prduct Optins chsen << >> Premium Due Date(s) <<dd /mnth>> Sum Assured Rs. << >> Annual Premium Rs. << >> Instalment Premium Rs. << >> Plicy Term << 10 / 15 >> years Premium Paying Term << >> years Frequency Annual Premium per Frequency Rs. << >> Grace Perid 30 days Fund << Fund Name 1 - % Allcatin>> << Fund Name 2 - % Allcatin >> << Fund Name 3 - % Allcatin >> Expiry Date f Lck-in Perid << 5 years frm RCD >> Final Premium Due Date << dd/mm/yyyy >> Maturity Date << dd/mm/yyyy >> Plicy issued n the basis f Shrt Medical Questinnaire (SMQ) << Yes/N >>

3 Minimum Values Required# Partial Withdrawal Amunt Rs. 10,000 Single Premium Tp-Up Amunt N.A. # T be read in cnjunctin with the terms & cnditins in Standard Plicy Prvisins. NOMINATION SCHEDULE Nminee s Name <<Nminee-1 >> <<Nminee-2 >> Date f Birth f Nminee << dd/mm/yyyy >> << dd/mm/yyyy >> Nminatin Percentage << >> % << >> % Nminee's Address << >> << >> Appintee s Name (Applicable where the nminee is a minr) << >> Date f Birth f Appintee << dd/mm/yyyy >> Appintee's Address << >> SCHEDULE OF CHARGES Premium Allcatin A prprtin f the Premium (Premium Plicy Year Premium Allcatin Rate Charge Allcatin Rate) will be used t buy Units in 1 t % 2.5% the Funds f yur chice. The balance Premium that is nt allcated is the Premium Allcatin 11 t % 0% Charge. This charge is guaranteed. Plicy Administratin Charge % f annualised Premium will be deducted mnthly. This charge will increase by 5.50% per annum n each Plicy Anniversary frm the beginning f the 6 th Plicy Year, subject t a maximum charge f 0.50% f the annualised Premium r Rs 500 per mnth, whichever is lwer. The percentage charge each year will be runded t 2 decimal places. This charge will be deducted mnthly by cancellatin f Units and is guaranteed fr the duratin f the Plicy. Fund Management Charge -1.35% p.a. will be taken daily and is incrprated int the Unit Prices fr each Fund. This charge can be changed by Us subject t the maximum cap allwed by IRDAI. Mrtality and Mrbidity Charge -These charges are calculated as the Sum at Risk fr the Benefits chsen multiplied by the respective charge rate based n the age f the Life Assured n the date f deductin f the charge and are deducted mnthly by cancellatin f Units. The Sum at Risk fr the Mrtality and Mrbidity Charges are specified in the Appendix-1 t Schedule f Charges and are guaranteed fr the duratin f the Plicy. Discntinuance Charge (Charges based n Annualised Premium) Annualized Premium up t Annualized Premium abve Plicy Year and including Rs.25,000/- Rs.25,000/ % f AP r 20% f FV r Rs. 3,000/-, whichever is lwest. 15% f AP r 15% f FV r Rs. 2,000/-, whichever is lwest. 10% f AP r 10% f FV r Rs. 1,500/-, whichever is lwest. 5% f AP r 5% f FV r Rs. 1,000/-, whichever is lwest. 6% f AP r 6% f FV r Rs. 6,000/-, whichever is lwest. 4% f AP r 4% f FV r Rs. 5,000/-, whichever is lwest. 3% f AP r 3% f FV r Rs. 4,000/-, whichever is lwest. 2% f AP r 2% f FV r Rs. 2,000/-, whichever is lwest. 5 and nwards NIL NIL Statutry Charges Premium Redirectin Charges Service Tax, Swachh Bharat Cess, and any ther statutry tax, duty r levy n r in respect f this Plicy This charge will be deducted frm yur Plicy by cancellatin f Units. This charge can be changed by Us subject t the maximum cap allwed by IRDAI. AP Annualised Premium FV Fund Value n the date f discntinuance The tax will be taken at the same time and the same methd as the charge n which the tax is being levied r as required by legislatin. This tax will be determined by the Gvernment f India in accrdance with legislatin applicable at the time f prviding service. A premium redirectin request initiated by the Plicyhlder will attract a charge f Rs 250 per request. Hwever, if the request is executed thrugh the Cmpany s web prtal the Plicyhlder will be charged Rs 25 per request.

4 Switching Charge Partial withdrawal Charge Miscellaneus Charges Investment Guarantee Charge A fund switch request frm the Plicyhlder will attract a charge f Rs 250 per request. Hwever, if the request is executed thrugh the Cmpany s web prtal the Plicyhlder will be charged Rs 25 per request. A partial withdrawal request frm the Plicyhlder will attract a charge f Rs 250 per request. Hwever, if the request is executed thrugh the Cmpany s web prtal the Plicyhlder will be charged Rs 25 per request. Any Plicy alteratin request initiated by the Plicyhlder will attract a charge f Rs. 250 per request. Any administrative servicing that we may intrduce at a later date wuld be chargeable subject t IRDAI s apprval. Nt Applicable Signed << at Mumbai>> <<n>> <<01 September 2005>> Fr HDFC Standard Life Insurance Cmpany Limited Authrised Signatry In case yu ntice any mistake, yu may return the Plicy dcument t us fr necessary crrectin.

5 STANDARD POLICY PROVISIONS Unique Identificatin Number: 101L082V02 ALL UNIT LINKED POLICIES ARE DIFFERENT FROM TRADITIONAL INSURANCE POLICIES AND ARE SUBJECT TO DIFFERENT RISK FACTORS. IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. 1. General Yur Plicy is a Regular Premium, nn participating Unit Linked Endwment Life Insurance Plicy. 2. Definitins (1) Authrity/ IRDAI means Insurance Regulatry and Develpment Authrity f India; (2) Charges - means r refers Premium Allcatin Charge, Plicy Administratin Charge, Fund Management Charge, Mrtality Charge, Service Tax and Swachh Bharat Cess Charge, Premium Redirectin Charge, Switching Charge, Partial Withdrawal Charge, Investment Guarantee Charge, Miscellaneus Charges and Discntinuance Charge. (3) Cmpany, cmpany, Insurer, Us, us, We, we, Our, ur means r refers t HDFC Standard Life Insurance Cmpany Limited. (4) Cut-ff time is the time by which we must have accepted yur instructins t invest in, r encash Units frm a Fund, fr us t invest in r encash Units at the assciated valuatin time. As per Regulatins, the current Cut-ff time is 3.00pm. (5) Fund - means each f the Funds earmarked by the Cmpany fr Unit Linked business and available t this prduct. (6) Life Assured - The Life Assured is the persn n whse life the cntingent events has t ccur fr the Benefits t be payable. The Life Assured may be different frm the Plicyhlder. Under this Plicy, Primary Life Assured refers t the female Life Assured. The Secndary Life Assured. is the spuse f the Primary Life Assured,. (7) Plicyhlder, Yu, yu, yur - means r refers t the Plicyhlder stated in the Plicy Schedule. (8) Sum Assured means the abslute amunt f benefit which is guaranteed t becme payable n death f the Life Assured in accrdance with terms and cnditins f the Plicy. (9) Units means a specific prtin r a part f the underlying segregated unit linked fund which is representative f the Plicyhlder s entitlement in such Funds i.e. the number f Units that are allcated basis applicable Unit Price and amunt f Premium net f Charges. (10) Unit Fund Value - means the value btained by multiplying the number f Units allcated t yur Plicy by the crrespnding price f the Units. (11) Unit Price means the Net Asset Value (NAV) per Unit f the Investment Linked Fund. (12) Pre-Existing Cnditin means r refers t any cnditin, ailment r injury r related cnditin(s) fr which Primary Life Assured had signs r symptms, and / r was diagnsed, and / r received medical advice / treatment 48 mnths prir t the Date f Risk Cmmencement r Date f Revival f the Plicy. 3. Benefits (1) Maturity Benefit Upn survival f the Primary Life Assured and subject t the Plicy being in-frce n the Maturity Date f this benefit, risk cver ceases and the Unit Fund Value is payable. (2) The Plicyhlder has the fllwing ptins in respect f Maturity Benefit: t receive the entire Unit Fund Value as a lump sum amunt; r t receive the Unit Fund Value by way f Settlement Optin as specified in Clause 10 (4) (Settlement Optin). (3) Death Benefit - If the Primary Life Assured dies during the Plicy Term (subject t the Plicy being in frce), the Death Benefit payable shall be the higher f the fllwing; Sum Assured less any Partial Withdrawals (as defined under Clause 3(6)); r Unit Fund Value Fr a paid-up Plicy, the Death Benefit payable shall be higher f the fllwing; Paid-Up Sum Assured less any Partial Withdrawals (as defined under Clause 3(6); r Unit Fund Value. The Paid-Up Sum Assured is defined in Clause 6(8)(c). (4) The Death Benefit payable shall be at least equal t 105% f the ttal Premiums paid till the date f death. (5) The Death Benefit is subject t the exclusins set ut in Clause 17 (Exclusins). (6) The Sum Assured (r Paid-Up Sum Assured, where applicable) less any Partial Withdrawals will be calculated as Sum Assured (r Paid-Up Sum Assured, where applicable) less all Partial Withdrawals made during the tw year perid immediately preceding the date f intimatin f death f the Life Assured. (7) Upn payment f Death Benefit r the Maturity Benefit, the Plicy terminates and n further benefits are payable. (8) Mrbidity Benefits - The table belw enumerates the benefit payable under each f the Prduct Optins fr each Event Grup. Yur Prduct Optin is specified in the Plicy Schedule. Event Grups Grup - 1 Grup - 2 Grup - 3 Death f the Malignant cancer f spuse f Descriptin f the the female rgans fr Primary Life Cver fr each the Primary female Assured i.e. Event Grup Life Assured. Secndary Life Assured. Prduct Optins Classic Premier Elite Birth f a child with cngenital disrders r pregnancy cmplicatins t Primary Life Assured Waiver f Premium Benefit Waiver f Premium Benefit and Peridic Cash Benefit Waiver f Premium Benefit and Peridic Cash Benefit Waiver f Premium Benefit Waiver f Premium Benefit and Peridic Cash Benefit Waiver f Premium Benefit and Peridic Cash Benefit N.A. N.A. Waiver f Premium Benefit Subject t Clause 16 (Event Grups), the Mrbidity Benefits based n the Prduct Optin chsen by yu shall be applicable t the Plicy upn ccurrence f specified events as per the Event Grups. The details f the available Mrbidity Benefits are: Peridic Cash Benefit: This benefit is payable nly nce in respect f each f the Event Grups, subject t Clause 17 (Exclusins). Under this benefit, a cash benefit equal t ne annual Premium will be paid ut t yu n each Premium due date fr the 3 years frm ccurrence f the specified event as per the Event Grup. If the number f utstanding Premiums is less than 3, then We shall prvide peridic cash fr all such utstanding Premiums. Waiver f Premium Benefit: This benefit is payable nly nce in respect f each f the Event Grups, subject t Clause 17 (Exclusins). Under this benefit, We will waive ff 100% f the Premium fr 3 years frm ccurrence f the specified event as per the Event Grup and yur Plicy shall remain in-frce fr this duratin. The Premium fr these 3 years will be paid by Us. If the number f utstanding Premium is less than 3, then We shall waive and fund all such utstanding Premiums. In the special instance where: A Waiver f Premium Benefit is active fllwing a valid claim under any Event Grup; and There is a subsequent valid claim in respect f anther distinct Event Grup cncurrently activating anther Waiver f Premium, then the Waiver f Premium Benefit in respect f such subsequent claim wuld be paid as Peridic Cash Benefit whilst the earlier waiver f Premium is active. Premiums shall be waived fr the residual perid, if any, nce the earlier waiver f Premium expires. (9) The recipients f Benefits under this Plicy shall be as specified belw: Death Benefit shall be payable t the nminee(s), if the Plicyhlder and the Primary Life Assured are the same; r t the Plicyhlder if the Primary Life Assured is ther than the Plicyhlder. All ther Benefits shall be payable t the Plicyhlder. In case f any unique situatin r dubt the Cmpany s decisin will be final and binding. 4. Pre-requisites fr payment f Benefits: (1) Maturity Benefit: The Maturity Benefit will be paid if and nly if: The Plicy has matured and the Primary Life Assured is alive n the Maturity Date, The Plicy has nt been discntinued r surrendered r cancelled r terminated; and All relevant dcuments including the riginal Plicy dcument in supprt f yur claim have been prvided t the Cmpany. (2) Death Benefit: The Death Benefit will be paid if and nly if: The death f the Primary Life Assured has ccurred befre the Maturity Date, The Standard Plicy Prvisins specified in Clause 17 (Exclusins) and Clause 18 (Incrrect Infrmatin and Nn Disclsure) are nt attracted, The Plicy has nt been discntinued r surrendered r cancelled r terminated; and All relevant dcuments in supprt f the claim have been prvided t the Cmpany. These wuld nrmally include the fllwing: fully cmpleted claim frm; and riginal Plicy dcument; and riginal death registratin certificate r certified extract frm the death register; and riginal certificate r certified cpies f dctr certifying death; and riginal certificate r certified cpies f crematin r burial; and riginals r certified cpies f any medical reprts that we cnsider relevant t the death; Depending n the circumstances f the death, further dcuments may be called fr as we deem fit. The claim is required t be intimated t us within a perid f three years frm the date f death. Hwever, we may cndne the delay in claim intimatin, if any, where the delay is prved t be fr reasns beynd the cntrl f the claimant. (3) Mrbidity Benefit: The Mrbidity Benefit will be paid if and nly if Events cvered under Grup 1 ccur after cmpletin f ne year frm the Date f Risk Cmmencement r Date f Revival; whichever is later. Events cvered under Grup 2 ccur after cmpletin f 180 days frm the Date f Risk Cmmencement r Date f Revival; whichever is later, The Standard Plicy Prvisins specified in Clause 17 (Exclusins) and Clause 18 (Incrrect Infrmatin and Nn Disclsure) are nt attracted, The Plicy has nt been discntinued r surrendered r cancelled r terminated; and

6 All relevant dcuments in supprt f the claim have been prvided t the Cmpany. These wuld nrmally include the fllwing: fully cmpleted claim frm; and riginal Plicy dcument; and In case f claim under Event Grup 1 and 2 - Original r certified cpies f medical reprt frm the dctr, hspitals r specialists n the Primary Life Assured that we cnsider relevant t the illness. In case f claim under Event Grup 3 the riginal certificate r certified cpies f dctr certifying death; and the riginal death registratin certificate r certified extract frm the death register; and the riginal certificate r certified cpies f crematin r burial; and riginals r the certified cpies f any medical reprts that we cnsider relevant t the death Depending n the circumstances f the death, further dcuments may be called fr as we deem fit. We may cndne the delay in claim intimatin if the delay is prved t be fr reasns beynd the cntrl f the claimant. 5. Premiums (1) The first Premium must be paid alng with the submissin f yur cmpleted applicatin / Prpsal. Subsequent Regular Premiums are due in full n the date and at the frequency set ut in yur Plicy Schedule. (2) Premiums under the Plicy can be paid nly n an annual basis as set ut in the Plicy Schedule. (3) A Grace Perid f nt mre than 30 days is allwed fr the payment f each renewal Premium after the first Premium. We will nt accept part payment f the Premium. (4) If any Premium remains unpaid after the expiry f Grace Perid we will send yu a Revival Letter. If we d nt receive the Premiums due within the date specified in the Revival Letter, all risk cvers will cease and yur Plicy will be discntinued as described under Plicy Discntinuance and Revival clause. (5) A Premium will be deemed t remain unpaid if the Premium amunt has nt been realised by us. (6) Premiums are payable by Yu withut any bligatin n us t issue a reminder ntice t Yu. (7) Where the Premiums have been remitted therwise than in cash, the applicatin f the Premiums received is cnditinal upn the realizatin f the prceeds f the instrument f payment, including electrnic mde. (8) If yu have chsen mre than ne Fund, we will split the allcatin in accrdance with yur instructins befre we allcate Units in each Fund. (9) The Premiums that fall due in the same financial year can be paid in advance. Hwever, where the premium due in ne financial year is paid in advance in earlier financial year, we may cllect the same fr a maximum perid f three mnths in advance f the due date f the premium. (10).Any Regular Premiums paid befre the Due Date will be deemed t have been received n the Due Date fr that Regular Premium. N Units will be allcated befre reaching the respective due dates, fr the Premiums which are paid befre the due date. 6. Plicy Discntinuance and Revival Discntinuance befre the cmpletin f five Plicy years (1) If the Premiums due n yur Plicy are nt paid befre the expiry f the Grace Perid, a ntice will be issued t yu within 15 days frm the expiry f the Grace Perid cntaining the fllwing ptins: t revive the Plicy within a perid f 2 years frm the date f discntinuance, r t cmpletely withdraw frm the Plicy withut any risk cver. The ptin chsen by Yu shuld be cmmunicated t us within 30 days f receipt f such ntice. During this perid the Plicy is deemed t be in-frce with risk cver as per terms and cnditins f the Plicy and all Charges as specified in the Schedule f Charges will cntinue t be deducted n the Plicy during this perid. (2) The treatment under the tw abve mentined ptins is specified belw: Optin Revival Withdrawal Treatment The revival shall be subject t the terms and cnditins that we may specify frm time t time including payment f all due and unpaid Premiums and underwriting apprval. At the time f revival: a. We shall cllect all due and unpaid Premiums withut charging any interest r fee. b. We shall levy Plicy Administratin Charge and Premium Allcatin Charge as applicable during the discntinuance perid. c. We shall add back t the Fund, the discntinuance charges deducted at the time f discntinuance f Plicy d. Risk cver will be restred and Yur Plicy s Discntinued Plicy Fund value shall be reallcated t investment funds as chsen by yu at the then prevailing Unit Prices at the time f revival. The risk cver will cease immediately and yur Plicy will be discntinued. The Unit Fund Value as n the Date f Discntinuance less the Discntinuance Charge (as specified in the Plicy Schedule) will be mved t Discntinued Plicy Fund. The prceeds frm the Discntinued Plicy Fund fr yur Plicy will be refunded nly n the cmpletin f the Lck-in Perid. (3) The Funds in Discntinued Plicy Fund will earn a minimum guaranteed interest rate as specified by the IRDAI. The current applicable minimum guaranteed rate f interest specified by the IRDAI is 4% p.a. A Fund Management Charge f 0.50% p.a., charged daily, will be levied n the Discntinued Plicy Fund. This may be subject t change as ntified by IRDAI frm time t time. (4) In the instances where the revival perid is nt cmpleted at the end f the Lck-in Perid, the ntice issued t Yu within 15 days frm the expiry f the Grace Perid will cntain the ptins as specified in Clause 6(1) as well as an additinal ptin f receiving the prceeds at the end f the Lck-in Perid r revival perid, whichever is later. (5) The treatment fr the ptins mentined in Clause 6(4) abve is specified belw: a. If Yu chse t revive the Plicy, the treatment fr revival is as specified in Clause 6(2). The Fund Value shall cntinue t remain in the Discntinued Plicy Fund until the Plicy is revived r until the end f the revival perid, whichever is earlier. If the Plicy is nt revived within tw years f the revival perid, the prceeds f the Discntinued Plicy Fund shall be paid ut at the end f the revival perid. b. If Yu chse t cmpletely withdraw frm the Plicy withut any risk cver, the treatment shall be as specified in Clause 6(2). c. If Yu chse t receive the prceeds at the end f the Lck-in Perid r revival perid whichever is later, the treatment shall be as per (a) abve. (6) Upn payment f the prceeds frm Discntinued Plicy Fund, yur Plicy shall terminate and n further Benefits shall be payable under yur Plicy. Discntinuance n r after the cmpletin f five Plicy years (7) If the Premiums due n yur Plicy are nt paid befre the expiry f the Grace Perid, a ntice will be issued t yu within 15 days frm the expiry f the Grace Perid cntaining the fllwing ptins: t revive the Plicy within a perid f 2 years frm the date f discntinuance f Premiums, r t cmpletely withdraw frm the Plicy withut any risk cver, r t cnvert the Plicy int a paid-up Plicy. The ptin chsen by Yu shuld be cmmunicated t us within 30 days f receipt f such ntice. During this ntice perid as well as the revival perid the Plicy is deemed t be in-frce with risk cver as per terms and cnditins f the Plicy and all Charges as specified in the Schedule f Charges will cntinue t be deducted n the Plicy during this perid. (8) The treatment under the abve mentined ptins mentined in Clause 6(7) abve is specified belw: a. If Yu chse t revive the Plicy, the revival shall be subject t the terms and cnditins that we may specify frm time t time including payment f all due and unpaid Premiums and underwriting apprval. b. If Yu chse t cmpletely withdraw frm the Plicy withut any risk cver, the Plicy shall be surrendered and surrender benefit as per Clause 7 shall be payable. c. If Yu chse t cnvert the Plicy int a paid-up Plicy, the Sum Assured will reduce t Paid-up Sum Assured. The Paid-Up Sum Assured shall be calculated as the riginal Sum Assured multiplied by the ttal number f Premiums paid divided by the riginal number f Premiums payable as per the terms and cnditins f the Plicy. If Yu d nt revert t us within 30 days f receipt f the ntice r 35 days frm the expiry f the Grace Perid r the Plicy is nt revived, the plicy shall be deemed t be withdrawn and the prceeds shall be paid ut t the Plicyhlder. If the Plicyhlder pts t revive the Plicy, but des nt revive befre the cmpletin f the revival perid, the Plicy shall get surrendered autmatically upn the cmpletin f the revival perid and the surrender benefit as specified in Clause 7 (Surrender) shall becme payable. 7. Surrender (1) Plicy may be surrendered at any time. The amunt payable n surrender will be the Unit Fund Value n surrender less the Discntinuance Charge as specified in the Schedule f Charges. (2) If the Plicy is surrendered befre the cmpletin f five Plicy years, the amunt will be mved t the Discntinued Plicy Fund. The amunt allcated t the Discntinued Plicy Fund, with accrued interest, will be paid ut n cmpletin f the Lck-in Perid. (3) If the Plicy is surrendered n r after the cmpletin f the five Plicy years, the surrender value will be paid t Yu. (4) If Yu die befre the surrender payment has been made We will make the surrender payment immediately n receipt f all relevant dcuments in supprt f the claim. (5) Once any surrender payment has been made, the Plicy terminates and n further Benefits are payable. 8. Investment Linked Funds (1) Fund descriptins f the Funds currently available under this Plicy and investment pattern are listed belw, the same may be revised in future. Incme Fund - The Incme Fund aims t prvide superir returns thrugh investments in high credit quality Debt instruments while maintaining an ptimal level f interest rate risk. Balanced Fund - The Balanced Fund aims t generate high returns thrugh a dynamic allcatin f investments in Debt and Equity Instruments s as t cmbine the stability f Debt instruments with the lng term capital appreciatin ptential f Equities. Blue Chip Fund- The Blue Chip Fund aims t prvide medium t lng term capital appreciatin by investing in a prtfli f predminantly large cap cmpanies which can perfrm thrugh ecnmic and market cycles. Opprtunities Fund - The Fund aims t generate lng term capital appreciatin by investing predminantly in mid cap stcks which are likely t be the blue chips f tmrrw. If Yu d nt revert t us within 30 days f receipt f the ntice r 35 days frm the expiry f the Grace Perid r if the Plicy is nt revived, the treatment shall be as per Withdrawal ptin as specified abve.

7 FUND Incme Fund SFIN: ULIF03401/01 /10IncmeFun d101 Balanced Fund SFIN: ULIF03901/09 /10BalancedFd 101 OBJECTIVES Higher ptential returns due t higher duratin and credit expsure. Dynamic Equity expsure t enhance the returns while the Debt allcatin reduces the vlatility f returns Blue Chip Fund Expsure t largecap Equities & SFIN: ULIF03501/01 Equity related /10BlueChipF securities. d101 Opprtunities Fund Expsure t midcap Equities & SFIN: ULIF03601/01 Equity related /10OpprtntyFd securities. 101 Mney Market Instruments and Liquid Mutual Fund*,Cash & Depsits ASSET CLASS Gvt. Securities & Fixed Incme Securities FUND COMPOSITION Equity Risk & return Rating 0 t 20% 80 t 100% -- Mderate 0 t 20% 0 t 60% 40 t 80% Mderate t High 0 t 20% t 100% Very High 0 t 20% t 100% Very High * The investment in Liquid Mutual Funds will always be within the Mutual Fund limits as prescribed by IRDAI regulatins and guidelines IRDA (Investment)(Furth Amendment) Regulatins, 2008, Annexure II. The current limit f apprved investments in Liquid Mutual Funds is 5% f the fund. The asset allcatin fr the Discntinued Plicy Fund (SFIN:ULIF05110/03/11DiscntdPF101) shall be as per the prevailing regulatry requirements. Currently, the asset allcatin is as fllws: (i) Mney Market Instruments 0% t 40% (ii) Gvernment securities: 60% t 100%. (2) Unit Prices will be published n ur Cmpany s website, n the Life Insurance Cuncil s Website and in leading natinal dailies. (3) The Unit Price f a unit linked fund shall be cmputed as: Market Value f investment held by the Fund plus the value f any current assets less the value f any current liabilities & prvisins, if any Divided by the number f Units existing at the valuatin date (befre any Units are redeemed r created) The resulting price will be runded t the nearest Re (4) Yur instructin fr allcatin f Premium net f all the relevant allcatin Charges is utilized t purchase Units f investment linked Funds fr the Plicy. In any investment linked Fund, all Units are f equal value. Yu will nt hld the Units directly and the assets f each Fund will belng t us. (5) The assets that the Funds invest in will be selected by us at ur sle discretin at all times. (6) We may clse, withdraw, mdify, split r cmbine Funds r intrduce new Funds with prir apprval frm the IRDAI, if required. Withdraw means n further payments will be accepted int the Fund, while any existing Units held in the Fund will cntinue t be allcated. Clse means We will encash all the Units, which exist fr a Fund and terminate the Fund. (7) Where We clse r withdraw a Fund, We will ntify Yu, three mnths in advance that, We will switch any existing units in that Fund ( riginal fund )and / r apply any future Premiums which wuld have been applied t that riginal Fund t anther Fund that has, in ur pinin, the clsest investment bjectives t the riginal Fund. During the three mnth ntice perid, Yu can switch t any ther available Fund. (8) We will nt allcate Units in any investment-linked Fund unless assets equivalent t thse Units are added at the same time t the Fund. We will als nt withdraw assets frm any such Fund (except t meet the deductins described belw in this Clause) unless units equivalent t thse assets are cancelled at the same time. Units will nly be cancelled in any such Fund under the terms as specified in the Schedule f Charges, and assets equivalent t the cancelled units will be withdrawn frm the same Fund at the same time. (9) We will add the incme frm the assets f an investment linked Fund t that Fund. (10) We can deduct frm the assets f an investment linked Fund the amunts that are required t cver: expenses, taxes and statutry duties in respect f r due t the buying and selling f assets; part r all f any tax, statutry levy r ther statutry/regulatry charge n us allcated t the Fund; and the Fund Management Charges described in the Schedule f Charges. (11) Risks f Investment in the Funds: The Premiums paid in the Linked Insurance Plicies are subject t investment risks assciated with capital markets and the Unit Prices may g up r dwn based n the perfrmance f the Fund and factrs influencing the capital market and Yu are respnsible fr the decisins made. HDFC Standard Life Insurance Cmpany Limited is nly the name f the Insurance Cmpany and HDFC Life Smart Wman is nly the name f the linked insurance prduct and des nt, in any way, indicate the quality f the prduct r its future prspects r the returns. The varius Funds ffered under this Plicy and the names f the Funds and d nt in any way indicate the quality f the Funds, their future prspects r the returns. There is n assurance that the bjectives f any f the Funds will be achieved. The past perfrmance f any f the Funds des nt indicate the future perfrmance f these Funds. 9. Applicability f Unit Prices (1) The allcatin and redemptin f Units fr varius transactins wuld be at the Unit Prices as described belw: Applicable Unit Prices Type f Transactin (Where transactin is received befre Cut-ff time) First Premium depsit received by way f lcal cheque r pay rder r demand drafts payable at par First Premium depsit received by way f utstatin cheque Renewal Premiums received by way f Direct Debit, ECS, credit card, etc Renewal premiums received by way f lcal cheque Renewal premiums received by way f utstatin cheque Partial Withdrawal (if applicable) Fund Switch (if applicable) Free Lk Cancellatin Death Claim Surrender Single Premium Tp-Up (if applicable) Transfer t the Discntinued Plicy Fund Charges Unit Price f the date f cmmencement f the Plicy Unit Price f the date f cmmencement f the Plicy r date f realisatin f the amunt by the Cmpany, whichever is later. Unit Price f the due date f premium payment r actual receipt f premium whichever is later. Unit Price at the date f receipt f instructin r the due date, whichever is later. Unit Price at the date f receipt f instrument r the due date r the date f realisatin f the amunt by the Cmpany, whichever is later. Unit Price f the date f receipt f the request. Unit Price f the date f receipt f the request r intimatin f claim. (Intimatin fr the purpse f claim must be in writing r any ther manner as decided by the Cmpany frm time t time). Unit Price f date f receipt f the request. Unit Price f date f realisatin f mnies. Unit Price f the date f Plicy discntinuance. Unit Prices f the effective date the Charges are deducted. (2) If the transactin request is received after the Cut-ff time, then Unit Prices f the next date r in case f prepayment f renewal Premium, Unit Price f the due date, shall be applicable. (3) If the same day r the next day r the transactin due date is nt a valuatin date, then we shall apply the Unit Price f the next immediate valuatin date. (4) In the event f the new applicatin r prpsal received n the last day f the financial year, the Unit Price f that day wuld be applicable. The Cut-ff time shall nt be applicable fr such transactins. (5) The Units allcated shall be reversed in case f the nn-realisatin f the Premium amunt. (6) We shall fllw nrms stated abve fr any transactins which are nt specifically mentined herein but invlve allcatin and redemptin f Units. 10. Miscellaneus (1) Fund Switches: a) Yu can ask us t switch the Funds in which yur Units are held. T d this, we will first cancel all f yur existing Units. We will then use the prceeds frm the cancelled Units, after deducting the applicable charge, t buy Units in yur chsen Fund r Funds. b) Yu may chse any investment linked Fund which is available t this prduct and which we have nt withdrawn r clsed. c) We may levy a Charge specified in the Schedule f Charges fr any Fund Switch request. d) We will waive ff the Fund Switch Charges fr up t 12 Fund Switches within ne year frm the date the Primary Life Assured gives birth t a child. e) We may delay switching Funds in line with Clause 15 (Frce Majeure). (2) Partial Withdrawals: a) Yu have the ptin f making Partial Withdrawals at any time after the first 5 years, subject t the fllwing cnditins: The Partial Withdrawal amunt is nt less than the minimum amunt specified in the Plicy Schedule. The Unit Fund Value after the Partial Withdrawal, the Partial Withdrawal Charge and any applicable Service Tax and Swachh Bharat Cess is nt less than is nt less than the 150% f the annualised Premium. The maximum Partial Withdrawal that can be dne thrughut the Plicy term is 300% f the annualised Premium. b) When we determine the eligibility f a Partial Withdrawal r determine the maximum Partial Withdrawal Amunt, we will use the latest knwn Unit Price. As this price is nt knwn at the time f the estimate f Partial Withdrawal eligibility r the Partial Withdrawal request, a small margin ver and abve the minimum Fund Value is kept t ensure that the Unit Fund Value requirement after the Partial Withdrawal is nt vilated. Currently this margin is 5% f yur Fund Value n the date f the Partial Withdrawal request r calculatin. We may change this margin at any time withut prir ntificatin r apprval frm yu. c) Fllwing a Partial Withdrawal, the Plicy cntinues t be in-frce and all benefits under Clause 3 and cnditins remain unaltered except reduced Unit Fund Value.

8 d) We will deduct any tax and/r levies frm payments if we are required t d s by the relevant authrities. e) We may levy a Charge as specified in the Schedule f Charges, fr any Partial Withdrawal request. f) We will waive ff Partial Withdrawal Charges fr up t 12 Partial Withdrawals requests, within ne year frm the date the Primary Life Assured gives birth t a child. g) We may delay making a payment frm the Funds in line with Clause 15 (Frce Majeure). (3) Single Premium Tp-Up: The ptin fr Single Premium Tp-Ups is nt available under this Plicy. (4) Settlement Optin: This means an ptin available t the Plicyhlder t receive the Maturity Benefit in peridical instalments ver a perid which may extend t 5 years after the Maturity Date a) The Plicyhlder may exercise the Settlement Optin befre the Maturity Date f the Plicy. The Settlement Optin is subject t any terms and cnditins we may specify frm time t time. These terms will include a minimum instalment amunt, which may be determined by us at ur sle discretin frm time t time. The current minimum instalment amunt is specified in the Plicy Schedule. b) The risk cver ceases and the Fund cntinues t be invested during the settlement perid. The cntinuing investment risk n the Unit Fund will be brne by the Plicyhlder. c) We shall levy nly Fund Management Charge during the settlement perid and n ther charges will be levied. d) N Fund Switch r Partial Withdrawal will be allwed during the settlement perid. Hwever, the Plicyhlder may anytime during the settlement perid withdraw the entire Unit Fund Value. e) Any Unit Fund Value remaining after 5 years frm the Maturity Date will be payable immediately. f) N further benefits will be payable after this payment. (5) Premium Redirectin a) The Funds in which new Premiums are invested can be changed at any time. Yu can ask fr sme r all f yur future Premiums t be allcated t Units in different Funds that are available t this prduct. Premiums will nly be applied as per the revised instructins if we accept thse instructins befre the Cut-ff time fr that Premium. b) We will nly act n thse instructins t change the Fund chice fr future Premiums when we have all necessary infrmatin t allw the change f Fund chice t be prcessed and we are satisfied that the infrmatin received is crrect. c) We may levy a Charges as specified in the Schedule f Charges fr any Premium Redirectin request. 11. Alteratins The Prduct Optin chsen, Plicy Term, Sum Assured (ther than the Plicy becming paid-up) and the level f Premium as specified in the Plicy Schedule cannt be changed at any time. In case Yu have nt prvided prf f age f the Life Assured with the Prpsal, Yu will be required t furnish such prf f age f the Life Assured as is acceptable t us and have the age admitted. In the event the age s admitted ( Crrect Age ) during the Plicy term is fund t be different frm the age declared in the Prpsal, withut prejudice t ur rights and remedies including thse under the Insurance Act, 1938, we shall take ne f the fllwing actins (i) if the Crrect Age makes the Life Assured ineligible fr this Plicy, we will ffer him suitable plan as per ur underwriting nrms. If yu d nt wish t pt fr the alternative plan r if it is nt pssible fr us t grant any ther plan, the Plicy will stand cancelled frm the date f issuance and the Fund Value will be returned and the Plicy will terminate thereafter; r (ii) if the Crrect Age makes the Life Assured eligible fr the Plicy, the revised mrtality charges as per the Crrect Age will be recverable. There culd be a revisin in the Sum Assured als depending n the Crrect Age f the Life Assured. The prvisins f Sectin 45 f the Insurance Act, 1938 shall be applicable. 12. Lans There is n facility f lan available frm us under this Plicy. 13. Nminatin The Plicyhlder can nminate a persn/ persns in accrdance with Sectin 39 f the Insurance Act, 1938 as amended frm time t time. Simplified versin f the prvisins f Sectin 39 is enclsed in Annexure I fr reference. 14. Assignment The Plicyhlder can assign r transfer f a plicy in accrdance with Sectin 38 f the Insurance Act, 1938 as amended frm time t time. Simplified versin f the prvisins f Sectin 38 is enclsed in Annexure II fr reference. 15. Frce Majeure (1) We may delay switching Funds/making a payment frm the Funds if it is necessary t d s in rder t maintain fairness and equity between Unit hlders remaining in, and Unit hlders leaving a Fund. Where this applies, we may delay switching/encashing all r part f yur Funds fr up t 30 days. If we delay the switch/encashing, we will use the Unit Prices that apply n the day n which the switch/encashment f Units actually takes place. (2) We may defer the valuatin f assets until nrmality returns r delay switches/encashment f Units in the fllwing circumstances: When ne r mre stck exchanges which prvide a basis fr valuatin fr a substantial prtin f the assets f the Fund are clsed ther than fr rdinary hlidays. When, as a result f plitical, ecnmic, mnetary r any circumstances ut f ur cntrl, the dispsal r valuatin f the assets f the Unit Fund are nt reasnable r wuld nt reasnably be practicable withut being detrimental t the interests f the remaining Unit hlders. During perids f extreme vlatility f markets during which surrenders and switches and encashment wuld, in ur pinin, be detrimental t the interests f the existing/remaining Unit hlders f the Fund. In the case f natural calamities, strikes, war, civil unrest, rits and bandhs. In the event f any frce majeure r disaster that affects ur nrmal functining. If s directed by the IRDAI. 16. Event Grups The Event Grups in respect f Mrbidity Benefits are given belw. Yu can claim nly nce in respect f each f the Event Grup. (1) Grup 1: Birth f a child with cngenital disrders r pregnancy cmplicatins cverage. a) This Event Grup cvers varius pregnancy cmplicatins in respect f the Primary Life Assured r the instances where the Primary Life Assured gives a birth t a child with cngenital disrders. They are as fllws : Events cvered under Pregnancy cmplicatins Diagnsis f Disseminated Intravascular Cagulatin (DIC) during pregnancy Diagnsis f Mlar Pregnancy Hysterectmy due t pstpartum hemrrhage Events cvered under birth f a child with cngenital disrders Open Heart Surgical Repair f Atrial Septal Defect Open Heart Surgical Repair f Ventricular Septal Defect Surgical Repair f Tetralgy f Fallt Surgical Repair f Transpsitin f Great Vessels Surgical Repair f Open Spina Bifida Cnfirmed diagnsis f the Dwn's syndrme b) A waiting perid f 1 year is applicable frm the Date f Risk Cmmencement r Date f Revival, whichever is later, in respect f the benefits under this Event Grup 1. c) Benefits in respect f Event Grup 1 shall cease n the Plicy Anniversary immediately succeeding r cinciding with the 40th birthday f the Primary Life Assured. (2) Grup 2: Malignant Cancer f the female rgans fr the Primary Life Assured. a) Benefit is payable upn diagnsis f any malignant Cancer f the fllwing female rgans: Breast Cervix Uteri Crpus Uteri Ovary Vulva Vagina Fallpian Tube b) A waiting perid f 180 days is applicable frm the Date f Risk Cmmencement r Date f Revival, whichever is later, in respect f the benefits under this Event Grup. c) Definitin f Cancer: A malignant tumur characterized by the uncntrlled grwth and spread f malignant cells and the invasin and destructin f nrmal tissue. This diagnsis must be supprted by histlgical evidence f malignancy and cnfirmed by an nclgist r pathlgist. (3) Grup 3: Death f the spuse f the Primary Life Assured. a) This benefit is available nly if yu have chsen Elite Benefit Optin. b) Benefits in respect f spusal death ceases n the Plicy Anniversary immediately succeeding r cinciding with the 60th birthday f the spuse f the Primary Life Assured. 17. Exclusins (1) In case f death f Primary Life Assured due t suicide within 12 mnths frm the Date f Risk Cmmencement r Date f Revival f the Plicy, the Death Benefit shall be equal t the Unit Fund Value as available n the date f intimatin f death. Any Charges recvered subsequent t the date f death shall be paid back t the nminee alng with the Death Benefit. (2) In respect f the Mrbidity Benefits under Clause 4(3), there are certain general exclusins and in additin t them, there are certain exclusins specific t each f the Event Grups. These are set ut in mre detail belw: a) General List f Exclusins N benefit shall be payable in respect f any claims arising directly r indirectly as a result f any f the fllwing: The Primary Life Assured s attempted suicide r self-inflicted injuries while sane r insane; r Acquired Immune Deficiency Syndrme (AIDS), AIDS-related cmplex r infectin by Human Immundeficiency Virus (HIV); r Any cngenital r inherited disrder r develpmental cnditins f the Primary Life Assured; r Narctics used by the Primary Life Assured unless taken as prescribed by a Registered Dctr, r the Primary Life Assured s abuse f drugs and/r cnsumptin f alchl; r Any illness resulting frm a physical r mental cnditin which existed befre the effective date f this Plicy, r in case f reinstatement, frm the effective date f such reinstatement (whichever is later) and which was nt disclsed in the prpsal frm; r Any event giving rise t a claim (including death) n an insured child caused directly r indirectly by the intentinal act f the Plicyhlder r persn wh will therwise by entitled t the benefit payable; r Failure t seek r fllw medical advice; r War, invasin, act f freign enemy, hstilities (whether war be declared r nt), armed r unarmed truce, civil war, mutiny, rebellin, revlutin, insurrectin, military r usurped pwer, rit r civil cmmtin, strikes; r Taking part in any naval, military r air frce peratin during peace time; r Participatin by the insured persn in any flying activity, except as a bna fide, fare-paying passenger f a recgnized airline n regular rutes and n a scheduled timetable.

9 Participatin by the insured persn in a criminal r unlawful act with a criminal r unlawful intent; r Engaging in r taking part in prfessinal sprt(s) r any hazardus pursuits, including but nt limited t, diving r riding r any kind f race; underwater activities invlving the use f breathing apparatus r nt; martial arts; hunting; muntaineering; parachuting; bungee-jumping; r Nuclear cntaminatin; the radiactive, explsive r hazardus nature f nuclear fuel materials r prperty cntaminated by nuclear fuel materials r accident arising frm such nature. b) Specific List f Exclusins N Mrbidity Benefit shall be payable in respect f any claims arising directly r indirectly as a result f any f the fllwing: Grup 1: Birth f a child with cngenital disrders r pregnancy cmplicatins cverage Exclusins under birth f a child with cngenital disrders Benefit will nt be payable fr children brn befre the Plicy is taken r within 1 year f Plicy cmmencement r revival, whichever is later. Birth f child with cngenital disrder r cmplicatin arising when Primary Life Assured is a carrier f surrgacy pregnancy is nt cvered. Age f the Primary Life Assured at the time f delivery f the child shuld nt be mre than 40 years t avail the benefits. Benefit will nt be applicable n adptin f child r child brn frm a surrgate mther (i.e. birth f child brn with disrder when Primary Life Assured is nt carrier f child ) The claim is payable nly if: The cngenital illness is diagnsed within 2 years frm the date f delivery f the child; and The child survives at least 30 days frm the date f delivery with cngenital illness The benefit is nt payable if claim arising due t elective terminatin f pregnancy ther than fr medical reasns r due t abrtin. Exclusins under pregnancy cmplicatins cverage Benefit will nt be payable within 1 year f Plicy cmmencement r revival, whichever is later. Any disseminated intravascular cagulatin arising during the first 7 mnths f pregnancy will nt be cvered. Age f the Primary Life Assured shuld nt be mre than 40 years t avail this benefit. Any cmplicatin arising frm surrgacy r fertility treatment including in-vitr fertilizatins will nt be cvered. Grup 2: Malignant cancer f the female rgans The fllwing cancers are excluded Carcinma-in-situ r tumurs histlgically described as pre-malignant r nn-invasive including but nt limited t carcinma-in-situ f the breasts, Cervical Dysplasia: CIN-1, CIN-2 and CIN-3; vaginal intra-epithelial neplasia (VAIN) and Vulvar intra-epithelial neplasia (VIN) will nt be cvered. All tumurs and cancers in the presence f HIV infectin r cnditins due t any Acquired Immune Deficiency Syndrme (AIDS) r all tumurs that have metastasized frm rgans ther than the breast, fallpian tube, cervix, varian, uterus, vagina and vulva will nt be cvered. The cancer benefit will nt be payable if The Primary Life Assured has survived less than 30 days frm the date f diagnsis; r The cancer existed r was diagnsed befre the effective date f this plan. Date f ccurrence f cancer will be reckned fr the abve purpse and fr the purpse f evaluating waiting / survival perid as the date f diagnsis f the illness/ cnditin. It will be the date n which the medical examiner first examines the Primary Life Assured and certifies the diagnsis f any f the illness/ cnditins; r The cnditin is related t a Pre-Existing Cnditin unless such Pre- Existing Cnditin is stated in the prpsal frm and specifically accepted by the Cmpany and endrsed theren. The Primary Life Assured is diagnsed by a registered dctr with the Cancer, r the Primary Life Assured has shwed signs r symptms f any cnditin(s) within 180 days frm the effective date f this Plan. Grup 3: Death f the spuse f the Primary Life Assured Suicide exclusin fr 1 year will apply frm Date f Plicy cmmencement r revival, whichever is later. 18. Incrrect infrmatin and nn-disclsure Fraud, misrepresentatin and frfeiture wuld be dealt with in accrdance with prvisins f Sectin 45 f the Insurance Act 1938 as amended frm time t time. Simplified versin f the prvisins f Sectin 45 is enclsed in Annexure III fr reference 19. Nn-negative Claw-back Additins Upn the exit frm a Plicy at any time n r after the cmpletin f five Plicy years, we will calculate the grss yield, the net yield and the reductin in yield based n the actual returns. If the reductin in yield is greater than as required under the regulatins, we will add nn-negative Claw-back Additins t the Fund befre payment f Benefits t ensure cmpliance with the reductin in yield requirements as specified in Regulatin 37(d) f IRDA (Linked Insurance Prducts) Regulatins, Exit frm the Plicy wuld mean Death r Surrender r Maturity, whichever is earliest. 20. Mdificatin, Amendment, Re-enactment f r t the Insurance laws and rules, regulatins, guidelines, clarificatins, circulars etc thereunder (1) This Plicy is subject t The Insurance Act 1938, as amended by the Insurance Regulatry and Develpment Authrity Act, Amendments, mdificatins (including re-enactment) as may be made frm time t time, and Other such relevant Regulatins, Rules, Laws, Guidelines, Circulars, Enactments etc as may be intrduced thereunder frm time t time. (2) We reserve the right t change any f these Plicy Prvisins / terms and cnditins in accrdance with changes in applicable Regulatins r Laws r if it becmes impssible r impractical t enact the prvisin / terms and cnditins. (3) We are required t btain prir apprval frm the IRDAI r any successr bdy befre making any material changes t these prvisins, except fr changes f regulatry / statutry nature. (4) We reserve the right t require submissin f such dcuments and prf at all life stages f the Plicy including at the time f payment f Benefits as may be necessary t meet the requirements under Anti- mney Laundering/Knw Yur Custmer nrms and as may be laid dwn by IRDAI and ther regulatrs frm time t time. 21. Ntices Any ntice, directin r instructin given t Us, under the Plicy, shall be in writing and delivered by hand, pst, facsimile r frm registered electrnic mail ID t: HDFC Standard Life Insurance Cmpany Limited, 11th Flr, Ldha Excelus, Apll Mills Cmpund, N.M. Jshi Marg, Mahalaxmi, Mumbai Registered Office: Ldha Excelus, 13th Flr, Apll Mills Cmpund, N.M. Jshi Marg, Mahalaxmi, Mumbai Helpline number: (Lcal charges apply) service@hdfclife.cm Or such ther address as may be infrmed by Us. Similarly, any ntice, directin r instructin t be given by Us, under the Plicy, shall be in writing and delivered by hand, pst, curier, facsimile r registered electrnic mail ID t the updated address in the recrds f the Cmpany. Yu are requested t cmmunicate any change in address, t the Cmpany supprted by the required address prfs t enable the Cmpany t carry ut the change f address in its systems. The nus f intimatin f change f address lies with the Plicyhlder. An updated cntact detail f the Plicyhlder will ensure that crrespndences frm the Cmpany are crrectly addressed t the Plicyhlder at the latest updated address.