Premium Paying Term:
Regular Premium: Equal to the Policy Term
Limited Premium: 5 – 25 years
Under Limited Premium payment term, the difference between the Rider Policy term and the Rider PPT shall be at least 3 years. The premium payment term of the rider, if attached at inception, will be equal to the premium payment term of the base policy, otherwise it will be equal to the remaining premium payment term of the base policy.
Minimum: 5 years.
Maximum: 47 years.
However, the policy term of the rider, if attached at inception, will be equal to the policy term of the base policy, otherwise it will be equal to the remaining policy term of the base policy.
Minimum: Rs.8 for sum assured of Rs. 10,000, for a standard life under regular premium payment option, across all policy terms.
Maximum: Rs. 71,300 for sum assured of Rs. 50,00,000 for a standard life under single premium payment option for 47 years policy term.
Minimum: 10,000/- per Policy
Maximum: 50,00,000/- per Life
Also, the rider Sum Assured shall not exceed the Sum Assured under the base individual life insurance policy/ies to which this rider would be attached. The maximum sum assured allowed under the rider is also subject to the condition that the total premium for all the riders attached to the base individual policy, shall not exceed 30% of the premium for the base plan .Further, total sum assured for any individual, under Accidental Death and Total and Permanent Disability Benefit Rider should not exceed Rs.50 Lacs under for all products put together.
Premium payment Modes: Concurrent with that of the base policies premium payment modes.