Clarification about "2X benefit" called "Secure Benefit" under HDFC Optima Secure
I need to discuss and clarify an important point regarding the HDFC Optima Secure Policy.
The Brochure and the sales person from HDFC are saying that you get "2X cover from day 1" .. Means if you take a Rs 10 lacs plan, your cover from day one is 20 lacs.
Does it mean that the total available cover for 1st claim itself will be 20 lacs? If the first claim is for Rs 16 lacs, Will it be paid?
If thats the case then what is the meaning of these lines written in the Policy wording
2.5. Secure Benefit An additional amount as specified in the Policy Schedule will be available to the Insured Personas Sum Insured for all claims admissible under Section B (Base Coverage)and Section B-2.3 (Protect Benefit) during the Policy Year, subject to the following conditions:
a. This Secure Benefit shall be applied only once during each Policy Year and any unutilized amount, in whole or in part,will not be carried forward to the subsequent Policy Year.
b. The Secure Benefit can be utilized for any number of claims admissible under the Policy during the Policy Year.
c. The Secure Benefit will be applicable only after exhaustion of Base Sum Insured.
d. In case of family floater policy, the Secure Benefit will be available on floater basis for all Insured Persons covered under the Policy and will operate in accordance with the above conditions.
Please look at the point A) and C) specifically .. Why does point C say that secure benefit will be applicable only after "exhaustion" of base sum assured?
I had a talk with HDFC sales person and they are saying that dont worry, its truly 2X from day 1
I am quite confused and have my doubts on this point? Can other experts please give their comments on policy wording?