BOP-Value Life

Life and Health Insurance plans are known to be confusing thus people in general are not always thrilled about having one for them. With this in mind, IGI Life Insurance Limited brings BOP Value Life for customers of the Bank of Punjab, a very unique life insurance plan that also takes care of your hospitalization expenses while giving you a host of value added services

What is BOP Value Life?

BOP Value Life is a very unique and term life insurance cover that will take care of the economic worries of your family in your absence. It offers a cover of up to PKR 2,500,000 to your family in case of accidental death and upto PKR 1,250,000 in case of natural death of insured. Your Hospitalization expenses up to a maximum of PKR 5,000 / day in case of your hospitalization are also covered under the same plan. Actual amount of coverage shall depend upon type of package chosen by you as shown in below table. It is a very affordable and easy to subscribe term life cover offered by IGI Life Insurance Limited to the customers of the Bank of Punjab.

How does it work?

The plan is available only for the Bank of Punjab customers and can be subscribed easily through any of BOP retail branch. It is available in 4 different variants and provides the customer with the flexibility to choose the right coverage amount according to his / her need.

Value Additions

BOP Value Life also offers 2 very unique value added services. The details of these services are mentioned below:

• Discount Card:

  IGI Life will be offering a discount card to all the subscribers of BOP Value Life. Through the discount card, BOP Value Life customers will be able to avail up to 30 % discount across various labs throughout Pakistan

• Mediguide’s Second Medical Opinion:

  The plan offers a very special 2nd medical opinion facility in collaboration with Mediguide which will help customers of BOP in key decision making about their health. Not only this, the family of the insured is also covered under this scheme and they can also avail the subject facility

Plans on Offer under BOP Value Life

BOP Value Life comes in 4 variants namely Package A, B, C and D. They offer a range of coverage amounts for you to choose from. The details of the benefit are given as under:

* If, as a result of a covered Injury or the commencement of Sickness, an Insured Person shall be necessarily confined within a Hospital as an In-patient under the continuous attendance of a Physician, after elapse of the Waiting Period, if applicable, the IGI Life will pay the Daily Benefit stated in the Schedule of Coverage for each day that the Insured Person shall be confined therein, up to a maximum of thirty (30) days per confinement, commencing immediately following the Elimination Period as stated in the Schedule of Coverage.

Waiting Period for Sickness Hospitalization:

Fifteen (15) days from the Effective Date of Individual Insurance.

Elimination Period:

-NIL-

Unique Features of BOP Value Life

BOP Value Life comes with a host of exciting features and services that are not available in conventional term insurance products. Salient features of the product are mentioned below:

• 2^nd Medical Opinion Facility for the insured’s entire family
• Hospital Income Coverage in case of hospitalization of insured person only due to sickness / accident
• Coverage of all pre-existing medical conditions
• No Medical Questions asked
• Additional payment in case of accidental death as per schedule
• Discount card enabling customers to avail discounts at major laboratories in specified cities
• Waiting period of only 15 days from effective date of coverage

Eligibility

The insured have to be customers of BOP within age bracket of 18 – 60^th birthday at the time of enrolment. The maximum age limit for the plan is 65th birthday.

Exclusions

Although BOP Value Life covers all existing medical conditions, claims under this arrangement will not be entertained in the following scenarios:

• Occurrence of death due to HIV
• Active participation of the insured in war / war like operations
• Suicide within 18 months of effective date of coverage

Free Look Period

The plan offers a free look period of 14 days during which you can cancel the policy and get a full premium refund.

How to Subscribe

You can subscribe to BOP Value Life by visiting your nearest BOP Branch. The Branch will direct you through a very easy subscription process .You will be required to provide the beneficiary details and will give consent to premium deduction from your account. As soon as the premium is deducted from your BOP account, your coverage will start immediately.

Within 7 working days of subscription, you will receive your coverage certificate along with detailed policy terms and conditions from IGI Life. Also accompanying would be your special IGI Life discount card through which you can avail discounts at designated laboratories and clinics.

After receipt of the documents, you will have a 14 day free look period during which you can cancel your subscription and get a full premium refund if not satisfied

Contact

For details you can contact IGI Life at 021-111-111711

Disclaimer

This product is underwritten by IGI Life Insurance Limited. It is not guaranteed or insured by the Bank of Punjab or its affiliates and it is not a product of Bank of Punjab, hence IGI Life is responsible for all the underwriting risk. The applicant fully agrees and understands that Bank of Punjab is acting as a promoter and distribution agent of IGI Life and shall under no circumstances whatsoever, be responsible or held liable for the representations and/or undertakings made by IGI Life in relation to their BOP Value Life Plan, a term life product and/or any benefit or loss arising out of it. Should the applicant proceed to subscribe to this BOP Value Life plan - a term life product, he/she shall do so on a voluntary basis at his/her sole risk and Bank of Punjab shall have no responsibility or liability whatsoever in respect of any disputes and/or claims arising for any reason whatsoever. All insurance claims, charges and payments relating to the insurance policies shall be the sole and exclusive responsibility of IGI Life Insurance Limited however service charges and taxes will be applicable as per the banks “Schedule of Charges” and taxation laws as stipulated by the relevant authorities. Further; detailed terms & conditions are stated in policy documents which will be dispatched at your address by IGI Life at the time of sending policy documents to you.