Terms & Conditions

This is a summary of the key terms under the Acko Secure Sheild Plus Policy (“Policy”) offered by Acko General Insurance Limited (“Acko”) to Jupiter Money subject to the receipt of premium in full in respect of the Insured Persons and the terms, conditions and exclusions of underlying Policy. The covers available under the Policy can be availed only by Jupiter Money. The insurance coverage period under this policy is valid as mentioned in the Certificate of Insurance.

1. Key Benefits

Benefit Table with the details of plan wise coverage, sum insured and applicable conditions

Waiting Period

Special Conditions

• The policy is valid for a period of 1 year from the insurance start date.
• Any arrears or dues pertaining to EMI/ loan is not covered.
• The insured must be in between 18-60 years of age.
• Unemployment from any occupation or job which is a Temporary or Seasonal Job, or where the Insured Person is not on the direct payroll of the employer is not covered.
• Any voluntary unemployment, self-resignation, or voluntary retirement is not covered.
• Any Involuntary Unemployment or suspension of the Insured Person at his/her primary occupation, which is temporary in nature.
• An unemployment arising out of dishonesty, fraud, misconduct, or wilful violations of the laws/regulations of the company by the Insured or any directives issued by a public authority or any disciplinary action against the Insured is not covered.
• The insurance company reserves the right to deny any claim arising from an event that occurs while the insured is engaging in an activity that violates the laws of the jurisdiction.
• The policy covers only salaried people who are active Jupiter Money users, with salary getting credited to Jupiter Account.

General Conditions

• We should be given immediate written notice of any event that may give rise to a claim under the Policy, in accordance with the claims procedure under the Policy.
• All claims made under the Policy will be subject to the applicable deductible, any sub- limits and the availability of the Sum Insured.
• The Hospitalization is for Medically Necessary Treatment and is commenced and continued on the written advice of the treating Medical Practitioner.
  

2. Declaration to be given by the Insured while purchasing the Policy

Customer have declared the following:

• I hereby agree to buy Acko Secure Sheild Plus Policy and provide my express consent to the terms and conditions.
• I hereby declare that I am in good health and do not suffer from any Pre-Existing medical conditions or critical illness covered under the policy.
• I, hereby assign and authorize Acko General Insurance Ltd. to pay any claim made by me under Acko Secure Sheild Plus directly to my account, for and up to the extent of the insurance coverage amount. I confirm that the aforesaid shall be construed as complete discharge of liability of Acko and I shall not have any right to such amount from Acko.

3. Benefit Definition

3.1 Loss of Job

If an Insured Person suffers an Involuntary Unemployment during the Coverage Period resulting in loss of Income, then We will pay the monthly amount specified in the Certificate of Insurance against this Benefit, or the number of payouts’ as specified in the Certificate of Insurance falling due in respect of the Loan Account Number specified against this benefit in the Certificate of Insurance, as applicable, for each continuous and completed month specified in the Certificate of Insurance from the date of such Involuntary Unemployment.

This benefit shall be payable subject to the following:

1. Salaried Individuals are eligible for cover under this benefit, where such primary occupation is evidenced by their ITR (Income Tax Return) for the number of years specified in the Certificate of Insurance preceding the date of loss of income.
2. The Insured Person is employed on the direct payroll of an organization or entity having a registered office in India for a minimum of six continuous months before the Risk Commencement Date, or of an Indian branch of such organization or entity.
3. Such dismissal/termination/retrenchment of the Insured Person by his/her employer should be affected in compliance with his/her employer’s internal rules/regulations/policies, and any laws or any directives issued by a public authority and in force.
4. Our liability to make any payment under this benefit shall be in excess of the Deductible specified in the Certificate of Insurance for each claim and shall be payable for the maximum number of months specified in the Certificate of Insurance against this benefit, until reinstatement of employment with the same or any other employer, whether confirmed or on probation.
5. Where the payout Option is opted for and specified as such in the Certificate of Insurance, any payments that are overdue and unpaid by the Insured Person prior to the occurrence of the event giving rise to a claim under this benefit will not be considered for the purpose of this benefit and shall be deemed as paid by the Insured Person.
6. Any monthly amounts being paid under an admitted claim under this benefit will be discontinued if We reasonably believe that the Insured Person is demonstrably not taking any measures, deemed reasonable and necessary as advised by Us, that can assist in reinstatement of employment in his/her primary occupation, or any occupation of similar nature.

Specific Exclusions

We shall not be liable to make any payment for any claim under this benefit in respect of an Insured Person, directly or indirectly for, caused by, arising from or in any way attributable to any of the following:

1. Any Involuntary Unemployment of the Insured Person that is attributed to any dishonesty, misconduct or fraud, or any wilful violation by the Insured Person of any internal rules/regulations/policies, or any laws or any directives issued by a public authority and in force, or any disciplinary action initiated against the Insured Person by his/her employer.
2. Unemployment from any occupation or job which is a Temporary or Seasonal Job, or where the Insured Person is not on the direct payroll of the employer.
3. Any voluntary unemployment, self-resignation, or voluntary retirement.
4. Any Involuntary Unemployment or suspension of the Insured Person at his/her primary occupation, which is temporary in nature.
5. Any unemployment from any occupation or job in which no salary was ever provided to the Insured Person.
6. Any unemployment occurring while the Insured Person, who is a Salaried Individual, is still under his/her probation, including any unemployment resulting from non-confirmation of his/her employment by the employer during or after the period on probation.
7. Any suspension of the Insured Person from his/her primary occupation on account of any pending enquiry being conducted by the employer or a public authority.
8. Any unemployment if it arises as a result of the place of employment or part thereof being temporary closed down for a period not exceeding the minimum number of days specified in Certificate of Insurance/Schedule due to lay off, lockout, strike or any other reason.
9. Any unemployment due to non-extension of a maternity/paternity leave, either as per the Maternity Benefit Act 1961, as amended from time to time, or as per the employer’s internal regulation/policy in force at the time of any event or occurrence that may give rise to a claim.
10. Any unemployment due to any strike or labour disturbance in which the Insured Person is directly or indirectly involved.
11. Any reasonable belief that the Insured Person was aware that such loss of Income was likely to happen, whether or not any official communication was provided, at the time of Risk Commencement Date.
12. Withdrawal of offer of employment by an employer.
13. Medical exclusions
14. Any unemployment if it arises as a result of intentional self-inflicted injuries.
15. Any unemployment if it arises as a result of termination of service on the grounds of a Pre- Existing Diseases.
16. Any unemployment if it arises as a result of intake of alcohol or drugs by the Insured Person.
17. Any unemployment if it arises as a result of insured person being on family leave or sick leave due to childbirth or pregnancy.

4. Claim & Documents:

The Jupiter Money Customer can file a claim for any of these coverages on the Acko Website. Alternatively, he/she can reach Acko at the Contact number(s) provided below for registration of claim:

Acko: 1800 266 2256 Email id: Jupitermoneycare@acko.com Claims process for Jupiter Money Customer on Acko Website:

• Go to www.acko.com and Login with your mobile number registered on Jupiter Money and enter the OTP you receive.
• Select your particular policy from ‘My Policies’ section.
  
• Click on the ‘Make a Claim’ button below the Policy details section.
• Select the claim type, Follow the next steps and upload the required documents.
• Your claim has been submitted; Our claims team will get back to you!

Any claim made by the customer will be validated with Jupiter Money to confirm the incidence.

Insured needs to submit following documents in case of a claim:

Note: Other documents may be asked by Acko if required.

5. Grievance Redressal

For resolution of any query or grievance, the Insured Person may call Us at toll free number: 1800 266 2256 or write an e-mail at: grievance@acko.com. In case Insured Person is not satisfied with the resolution, the Insured Person may write to Acko’s Grievance Redressal Officer at the following address:

Grievance Redressal Officer

2nd Floor, #36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout,Bengaluru, Karnataka 560102 grievance@acko.com

In the event of unsatisfactory response from the Grievance Officer, he/she may, register a complaint in the Integrated Grievance Management System (IGMS) of the IRDAI.

If the issue still remains unresolved, the insured may, subject to vested jurisdiction, approach the Insurance Ombudsman for the redressal of grievance.

Please note that this is only a basic description of the key terms of the Policy, and the full list of policy conditions and exclusions are available at: http://www.acko.com/download

Once you have opted for cover, you will receive a Certificate of Insurance from Acko which will contain complete details of your cover under the Policy, and the applicable conditions and exclusions.