Diabetes and Blood Pressure (BP) are nowadays common among many people. How the SRD scheme provides life insurance cover for such members ?
Insurance company arranges for medical examination of members who suffer from such ailments. The cost of such medical check-up is borne by the insurance company. On the outcome of the examination by the hospitals/Doctors , as prescribed by the insurance company in this behalf , they may accept/ reject the cover or provide the cover on payment of a higher premium. Incase the insurance cover could not be provided, the account holder may choose to convert the account as ordinary Recurring Deposit (RD) account value dated to the original date of opening of account (or) to close the account. The insurance company will take a maximum time of 30 days to accept or reject the cover on the basis of records and Declaration of Good Health(DGH) . In case of time delay if any owing to medical examination or such other reasons, can the account holder remit the monthly instalments ?Yes, it can be remitted.
