"What is the importance of the policy
document?"
The policy document is a legal proof of the life insurance
contract between you (the policyholder) and us (The Company
i.e. EFU Life Assurance Ltd). Hence, it’s a very important
contract and needs to be kept safely. You will need to submit
the policy document to EFU Life when you have to apply for
any of following:
Assignment
Claims
Any notice, information or instruction to the Company
must be in writing and delivered to the address intimated
by the Company to the policyholder which is currently:
Client Services Department
EFU LIFE ASSURANCE LTD
37- K, Block 6, PECHS
Karachi ~75400
Sind
Pakistan
Phone: +92-21-4535071~77
Fax: +92-21-4535079
Email: info@efulife.com
Website: www.efulife.com
In this note, “I” refers to Policyholder
"When do I need to alter my Personal Details
in the policy document?"
Your personal details need to be altered if there is a misstatement
in your date of birth, any change in your name, your address
for communication, or any other contact details mentioned
in the policy document.
"How should I, as a policyholder, notify EFU
Life of address changes in my policy document?"
In case of an address change in your policy document, you
must submit a signed request letter, mentioning the details
of your old as well as new address or contact numbers, along
with the policy number which is mentioned in your policy
document.
"When do I need to alter my date of birth?"
There could be three reasons for altering your date of birth
in the policy document:
An error on the original proof of age contracts submitted.
Proof of age not being available at time of issue.
An Error in the Policy document.
"What is Assignment of a policy?"
An Assignment is the transfer of interest under the policy
by the Assignor (policyholder) to the Assignee.
"Who is a Nominee?"
A Nominee is a person appointed by the policyholder (where
the life insured and the policyholder is the same person),
to give valid discharge to EFU Life in respect of the benefits
payable under the policy in the event of the death of the
Life Insured.
"Who can appoint a Nominee?"
The policyholder can appoint a Nominee at the time of taking
a policy document. If desired the Nominee can be changed
subsequently.
"Can a minor be a Nominee?"
Yes, a Minor can be a nominee. But since a minor is not
eligible to enter into a valid contract, you need to appoint
a guardian for such nomination.
"How can the Life Insured nominate / alter
nominations / cancel the nomination?"
In case, you have not made any nominations in your Proposal
Form, you can make a nomination later by filling out EFU
Life’s official nomination form. This form can also
be used to amend any of your earlier nomination/s. This
would automatically cancel the earlier nomination /s.
"When do I pay my renewal premiums?"
Renewal Premium should be paid annually in advance on the
policy anniversary date. However if the mode of payment
selected is half yearly, renewal premiums should be paid
at these intervals, on the date indicated in the policy
document.
A grace period of 30 days from the due date of premium payment
is allowed. If the premium is not paid on or before the
expiry of the grace period, the policy will lapse.
"What happens if I do not pay my premiums on
due date?"
If you fail to pay premiums within the grace period of 30
days:
If premium payments are stopped due to any reason after
two full years’ premiums have been paid, the Company
will keep the basic policy in force for a period of one
year from the date of first unpaid premium. During this
one year period the Company will cancel enough units to
pay for the cost of maintaining the cover and for administration.
At the end of this period, if the policy has a cash value,
it will be converted into a “paid-up” policy.
In such a case, no further premiums would be payable and
the amount payable on death or maturity will be equal
to the Cash Value of the policy. At each anniversary,
the Company will cancel enough units to cover the administrative
cost of maintaining the policy.
If only one premium is paid, the policy will lapse.
"What is Revival of a Policy?"
In case of a lapsed policy, if you would like to re-instate
the policy, you need to revive the policy.
"How will I revive the lapsed policy?"
You can revive your lapsed policy, by making an application
to EFU Life, within a period of two years from the due date
of the first unpaid premium and before the maturity of the
policy. Any request for revival after this may be accepted
or declined at EFU Life’s discretion or subject to
such terms and conditions as it deems fit.
The revival of the policy will be effective after EFU
Life’s approval is communicated in writing to you.
"Can I apply for a duplicate policy document?"
Yes, in case the policy document is lost, stolen or destroyed
/ mutilated, you can apply for a duplicate copy. Once a
duplicate policy document is issued by EFU Life, your original
policy document / earlier duplicate policy document, if
any, shall become null and void.
"What are the documents needed in order to
apply for claims?"
In case of maturity of your policy or a claim becoming payable,
the original policy document and proof of age of the Life
Insured (if the age was not already admitted) will need
to be submitted to EFU Life Assurance Ltd.
In case of death, the following requirements are
to be fulfilled
Claimant Statement
Attending Physician’s Report
Copy of National Identity Card
Copy of Death Certificate issued by the Municipal Corporation
or the Union Council
Additional requirement in case of accidental death
Copy of FIR and Post Mortem Report & Newspaper clipping
In case of disability, the following requirements
are to be fulfilled
Disability Claim Form
Attending Doctor’s Statement
Accident and Sickness Claim Form
Additional requirements (in case of fractures or
amputations)
X- Ray films and reports
In case of Critical Illness, the following requirements
are to be fulfilled
Critical Illness Claim Form
Copy of National Identity Card
Relevant Medical Attendant’s Report
Proof of Diagnosis
"Where will I be paid my claims?"
The amount due under any policy is payable at the EFU Life’s
Head Office (37-K Block 6, PECHS, Karachi-75400, Sind, Pakistan).
However, EFU Life at its absolute discretion may fix an
alternative place of payment for the claim at any time before
or after the policy has become a claim.
