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Underwriting & Reinsurance DepartmentUnderwriting & Reinsurance Department

C.O. Mumbai

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Keyman Insurance

A

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. . 340,

.

/

.

.

. .

&

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. & A A

& / .

, .A., & , &

, A. A

./A

. .

KEY MAN INSURANCE

Requirements

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. /

5 3

.

/

10 .

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&

. 340.

.

&

/ 3

A

.

.

.

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POINTS OF IMPORTANCE UNDER KEYMANPOINTS OF IMPORTANCE UNDER KEYMANPOINTS OF IMPORTANCE UNDER KEYMANPOINTS OF IMPORTANCE UNDER KEYMAN

1. .

2. .A. 51%

70%.

( + + ).

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Employer- Employee scheme

.

< 51%.

< 71%.

, / .

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EMPLOYER-EMPLOYEE SCHEME

Requirements :

I. Proposal form 300 or 340, if 340 submitted, then details ofassignment to be called as assignment has to be done withinreasonable period.

II. The medical examination, special reports will be decided on thebasis of SUC for individual life proposed.

III. If the employer is the proposer i.e. If proposal is submitted in F.No. 340, a separate letter shall be obtained from the employer,stating – 

The object of insurance The restrictions he desires to impose in respect of surrender, loan

etc.

That he would assign the policy to the life assured immediately afterthe issue of policy.

That the letter should form part of the proposal.

It is not necessary that all the insurable employees of the employer becovered under the scheme.

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A .. 3

.

.A.

.

.