A claim made before
the policy inception date or after the expiration date is not covered.
If the insured takes his own life within 12 months of
the policy inception date, the beneficiary of the policy receives the 80 % of the premium paid.
The insured is provided with a free look period of 30 days from
the policy inception date.
Both afford some coverage for vehicles you acquire after
the policy inception date.
A liability policy also covers parties added by an endorsement after
the policy inception date.
Yet, many businesses acquire additional property after
the policy inception date.
It typically applies to any company you acquire or form after
the policy inception date.
Others allow insurers to cancel policies for any reason during a certain time period, such as 60 days from
the policy inception date.
In case the insured member commits suicide whether sane or insane, within 12 months from
the policy inception date or from the date of inception of the member under the group insurance scheme, whichever is later, then higher of 80 % of the premiums paid or surrender value in respect of concerned insured member is payable to the nominee / beneficiary.
Suicide exclusion under Death Benefit: - In case the insured member commits suicide whether sane or insane, within 12 months from
the policy inception date or from the date of inception of the member under the group insurance scheme, whichever is later, then higher of 80 % of the premiums paid or surrender value in respect of concerned insured member is payable to the nominee / beneficiary.
If the life assured commits suicide within twelve months from
the policy inception date then automatically the contract comes to an end.
However, the claim settlement guarantee is applicable, if the specific policy has completed 2 years or more, from
the policy inception date to the life insurance's date of death, and if the claim did not need any further investigations.
Suicide Exclusion: If the Life Assured commits suicide within one year from
the policy inception date, the policy will be void and only 80 % of the premiums paid will be payable as Death Benefits.
Exclusions If you commit suicide within one year from
the policy inception date, the plan will be void and only 80 % of the premiums paid will be payable as death benefit.
Claim with respect to any Critical Illness diagnosed or which manifested prior to Policy Inception Date
This is typically
the policy inception date mentioned in the policy contract.
Since the policy is offered with no proof of insurability, Gerber includes the limitation which requires that the insured live for two full years past
the policy inception date in order to qualify for the full death benefit amount.