JAN SEWA BIMA YOJNA FAQs

What documents are required to file a claim?

Documents/information required for a claim settlement is as follows: -

Fire Claim

  • Properly filled and signed the claim form.
  • A List of damaged contents or items.
  • Newspaper cuttings/Fire Brigade report/Panchnama.
  • Photographs of the damaged site and/or goods.
  • An estimation of the insurance claim.
  • The insurance policy copy.
  • Any other additional or relevant information that the insured may like to submit.

 Burglary Claim

  • Properly filled and signed the claim form.
  • FIR of the burglary.
  • Burglary proof in the form of photographs.
  • The insurance policy copy.
  • Any other additional or relevant information that the insured may like to submit.

 Personal Accident claim

  • Properly filled and signed the claim form.
  • The insurance policy copy.
  • FIR of the accident & in case of a death claim, a Post-mortem report.
  • In case of a disability claim, a doctor’s certificate.
  • Certificate of Death

How to cancel the policy?

We may cancel this Policy by sending 15 days’ notice in writing by Regd. A.D. to You at Your last known address. You will then be entitled to a pro rata refund of premium for the unexpired period of this Policy from the date of cancellation, which We are liable to repay on demand. You may cancel this Policy by sending a written Notice to Us. We will then arrange a refund after retaining the premium based on the following Short Period scale.

Cancellation Period

Refund

Within One Week of inception of cover

25% of premium

Beyond One Week of inception of cover but within 15 days of inception of cover.

12.5% of Premium

Beyond 15 days of inception of cover

NIL

what-points-to-be-kept-in-mind-while-buying-the-policy

1. The insurance coverage offered under Section 1 & 2,i.e. Fire and Burglary, is provided only on a First Loss Basis, with the insured amount representing 50% limit of total value at risk. Underinsurance would be applicable in case the value at risk exceeds twice the sum insured.

2. The proposer’s age limit is 18 to 70 years

3. The age limit for insured persons, besides the proposer, shall be 5 to 70 years

4. This policy is a non-floating cover, meaning only the named insured person(s) shall be covered under the policy.

5. This rural insurance insurance policy can be sold on an individual or group basis.

6. Personal accident claims are to be settled on the basis of the table of benefits only.

7. In case of death of the insured, the total amount payable under section 3(B) shall be deposited in a Scheduled Commercial Bank’s account as per the child’s preference, which may be expressed via his/her guardian. Withdrawal from the same can be made as per annualized instalment which is as explained below: -

  • Education Protection amount shall be payable only by means of equated annual instalments. The difference between the child’s actual age at the time of the claim and 21(twenty-one) years of age shall determine the total number of instalments permissible. For instance, if under personal accident, the child’s age is 14 (fourteen) at the claim’s time, then 7 (seven) annual instalments shall be payable up to the amount of insured sum.
  • Education Protection insured sum shall be equally divided in case there are two or more children. The difference between each child’s actual age at the time of the claim and 21(twenty-one) years of age shall determine the total number of equated annual instalments payable to each child. For instance, if a child’s age is 18(eighteen) years and another is of 12 (twelve)years, then the latter would receive 9(nine) equated annual instalments whereas the former shall receive 3 (three) equated annual instalments.
  • Or, the entire amount payable to the child shall be transferred to his/her account at the time of claim, and if the child/guardian so desires, the said amount may be withdrawn once the child attains 21 (twenty-one) years of age.
  • In the absence of a child in whose favour the said payment may be made, the total amount payable under this section shall be paid to the nominee as mentioned under the insurance policy.