- The Group Life Insurance Cover will be governed by the terms and conditions of the insurance policy with the relevant Insurance Company as determined by the AMC.
- In case of death of the applicant, his/her legal representatives/Nominee shall file a claim directly with the designated branch of the Insurance Company supported by all relevant documents as required by the Insurer and the payment of the claim may be made to the legal representatives/Nominee by the insurance company. The AMC will not entertain any request for claims for the insurance cover.
- All insurance claims will be settled in India and shall be payable in Indian Rupees only. Settlement procedure will be as stipulated by the Insurance Company. Insurance claims will be directly settled by the Insurance Company.
- The AMC will not be responsible or liable for maintaining service levels and/or any delay in processing claims arising out of this facility.
- The Mutual Fund, Trustees, AMC, or their Directors, officers or employees shall not be liable for any claims (including but not limited to rejection of any claim, non-settlement, delays etc, by the insurer) arising out of the insurance cover provided to the unit holder.
- All the terms and conditions pertaining to Monthly SIP will be applicable on SIP SHIELD.
- The AMC is bringing this offer to the investors of the Scheme only as an additional facility and is not acting as an agent for marketing/sales of insurance policies nor soliciting any business.
- Subject to what has been stated above, the AMC reserves a right to modify/annul the said Group life Insurance Cover. The AMC also reserves the right to change the insurance company from time to time.
- The Group life Insurance cover will be subject to the following exclusions and such other terms and conditions as may be prescribed by the insurance certificate governing the cover.
- The Group life Insurance Cover shall not extend to cover instances of death due to suicide in the first year of cover.
- Death within 45 days from the commencement of the SIP installments except for death due to accident.
- The provision for the Group Life Insurance Policy does not have any bearing on the performance of the scheme.
- For the purpose of availing of the SIP Shield facility, a unique folio will be created.
- If any transaction such as, switch out/redemption/STP out/folio consolidation request is made under this unique folio, the Insurance cover will be cancelled with immediate effect. In case of additional purchase/switch ins/STP in, a separate folio will be created.
- First installment payment made through Cheque should be the same as SIP amount and the same shall be considered as the first SIP installment.
- In the event insurance cover is rejected/not granted the SIP investment shall continue in the selected scheme.
- The Trustee/AMC reserves the right to change/modify the terms and conditions of SIP Shield or withdraw the SIP Shield at a later date.
- SIP Shield facility is available only for the Monthly SIP option.
- SIP Shield facility is made available on the term and conditions mentioned in the application form.
For the terms and conditions and application form of SIP Shield, contact the nearest Investor Service Centre or visit our website www.boiaxamf.com