INDIVIDUAL PLAN RIDERS


Specified Major Surgical Benefit (MSB)
MSB Sum Insured can be up to a maximum of the 50% of the Basic Policy Sum Insured or Rs. 10,000,000/-, whichever is lesser.

 

Benefit:
An amount equal to the MSB sum insured will be paid in case one of the following surgeries was performed on the policyholder:
  • Coronary artery by-pass surgery
  • Surgery for a disease of the aorta
  • Replacement of a heart valve
  • Major organ transplant
  • Caraniotomy
  • Cancer surgery

Any death or other benefit payable under the basic policy later will be reduced by the amount paid under this rider.

 

Minimum age at entry:
18 years

 

Maximum age at entry:
55 years

 

Minimum term:
10 years

 

Maximum term:
Equal to the basic policy premium paying term or till the insuredís turns 65, whichever is earlier.  This rider will not be available if the life insured is imposed an extra premium.

Accidental Indemnity Benefit (AIB)
AIB Sum Insured can be up to a maximum of the Basic Policy Sum Insured.

 

Benefit:
The following portion of the AIB sum insured will be payable in case of specified loss or disability:

#    Loss or Disability     Indemnity Benefit
1
Loss of Life
The Sum Insured
2
Loss of two or more Limbs by amputation at or above Wrist or Ankle
The Sum Insured
3
Total and irrecoverable loss of all sight in both Eyes
The Sum Insured
4
Total and irrecoverable loss of all sight in one Eye and loss of one Limb by amputation at or above Wrist or Ankle
The Sum Insured
5
Loss of one Limb by amputation at or above Wrist or Ankle
50% of the Sum Insured
6
Total and irrecoverable loss of sight in one Eye.
One-third of the Sum Insured
7
Loss of Thumb and Index finger of either hand by amputation at or above the metacarpophalangeal joints
25% of the Sum Insured
8
Temporary, total and continuous disability preventing the Life Insured from date of accident, from performing any and every duty pertaining to his occupation, during such disability
Weekly Payment of Rs 5 per 1,000 sum insured for up to 52 weeks
9
Partial disability preventing the Life Insured from date of accident or immediately following total disability under Item (8) above, from performing a substantial part of duties pertaining to his occupation, during such disability
Weekly Payment of Rs 1.25 per 1,000 sum insured for up to 52 weeks
10
Permanent, total and continuous disability preventing the Life Insured from engaging in any occupation or employment for wage or profit or from giving attention to any business whatsoever and provided that indemnity has been paid under Item (8) and/or (9) for fifty two weeks
10% of sum insured payable each year for a maximum period of Ten years.

This will be in addition to the benefits under the basic policy.

 

Minimum age at entry:
18 years

 

Maximum age at entry:
59 years

 

Minimum term:
1 year

 

Maximum term:
Equal to the basic policy premium paying term or till the insured turns 60, whichever is earlier.

 

AIB coverage will stop and the premium will cease when the insured turns 60.

 

The maximum benefit under this rider shall not exceed the sum insured.

Accidental Death Benefit (ADB)
ADB Sum Insured can be up to a maximum of the Basic Policy Sum Insured.

 

Benefit:
ADB Sum Insured will be paid in case of accidental death in addition to the basic policy sum insured.

 

Minimum age at entry:
18 years

 

Maximum age at entry:
59 years

 

Minimum term:
1 year

 

Maximum term:
Equal to the basic policy premium paying term or when the insured turns 60, whichever is earlier.

 

ADB coverage will stop and the premium will cease when the insured turns 60.

Family Income Benefit (FIB)
FIB Sum Insured can be up to a maximum of the Basic Policy Sum Insured.

 

Benefit:
In case of insuredís death, an annual benefit of 10% to 50% (whatever the insured had chosen at the policy issue) of the FIB sum insured will be payable monthly till the expiry of the rider. This will be in addition to the benefits under the basic policy.

 

Expiry of the rider:
The date when the rider completes its policy term.

 

Minimum age at entry:
18 years

 

Maximum age at entry:
60 years

 

Minimum term:
10 years

 

Maximum term:
Equal to the basic policy premium paying term or till the insuredís turns 70, whichever is earlier.

The term can also not exceed 45 years.

Term Insurance Rider (TIR)
TIR Sum Insured can be up to a maximum of the Basic Policy Sum Insured.

 

Benefit:
In case of insuredís death, the TIR sum insured under this rider will be paid. This will be in addition to the benefits under the basic policy.

 

Minimum age at entry:
18 years

 

Maximum age at entry:
50 years

 

Minimum term:
10 years

 

Maximum term:
Equal to the basic policy premium paying term or till the insured turns 60, whichever is earlier. The term can also not exceed 25 years.

 

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