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SUD Life Family Income Benefit Rider - Traditional

SUD Life Family Income Benefit Rider - Traditional provides financial protection to your family in the event of your unfortunate demise. It protects the family against financial liabilities in case of unfortunate demise of the policy holder.

10% of the Rider Sum Assured will be paid* to the nominee/Legal heir every year for a period of 10 years in case of unfortunate death of the life assured as follows:

(10% of Rider Sum Assured)/12 will be paid at the end of every policy month following the date of death of the Life Assured and continuing for a period of 10 Years

The rider benefit is payable over and above the benefit payable under the base plan.

Disclaimer- *provided the rider policy is in-force as on the date of death of the Life Assured

Offered as an add-on benefit to the base plan.

Can be attached to the base policy at inception or on any Policy Anniversary*.

Policy Term:

Minimum: Single and Regular Pay: 5 years, Limited Pay: Premium Payment term +3 Years.
Maximum: 30 years

(The Rider Policy Term shall always be equal to the Policy Term of the Base Policy to which the rider is attached. In case where the rider is not attached at the inception of the policy, but is added at a later Policy Anniversaries, the Rider Policy Term should be equal to the outstanding Policy Term under the Base Policy.)

Premium Payment Term:

Single Premium
Regular Premium: Equal to the Policy Term
Limited Premium: 5 - 25 years.

(The Rider Premium Paying Term shall always be equal to the Premium Paying Term of the Base Policy to which the rider is attached. In case where the rider is not attached at the inception of the policy, but is added at a later Policy Anniversaries, the Rider Premium Paying Term should be equal to the outstanding Premium Paying Term under the Base Policy.)

Rider Sum Assured:

Minimum: Rs. 1,00,000/- per policy
Maximum: Rs. 50,00,000/- per policy

(The rider benefit shall not exceed the Sum Assured under the base individual life insurance policy to which this rider would be attached. The maximum sum assured allowed under the rider is also subject to the condition that the total premiums for all the riders (non-health) attached to the base individual policy, shall not exceed 30% of the premium for the base plan.)

Premium Paying Modes:

Single/Yearly/Half Yearly/Quarterly/Monthly modes as per the base individual policy to which this rider would be attached. Monthly mode of premium payment is only available under ECS/SI mode.

Disclaimer- *provided the base policy is In-force and all due premiums under the base policy are paid, subject to the satisfaction of age, policy term and other rider limitations.

Minimum Entry Age: 18 years last birthday

Maximum Entry Age: 60 years last birthday

Maximum Maturity Age: 65 years last birthday or the maturity age of the base plan, whichever is lower

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