LIC's Premium Waiver Benefit Rider

In case of death of Proposer during the Rider Term, premiums payable under the Base Policy falling due after the date of death till the expiry of Rider Term shall be waived. However, premiums in respect of any riders, if opted for, other than this rider under the Base Policy, shall not be waived and continue to be paid as per respective rider conditions. Further, if Premium Paying Term of the Base Policy exceeds the Rider Term, all the premiums due under the Base Policy from the date of expiry of this rider shall be payable by the policyholder as per the terms and conditions of the Base policy. Maturity Benefit: On survival to the end of the Rider Term, nothing shall be payable.

On survival to the end of the Rider Term, nothing shall be payable.

This rider will not acquire any paid-up value and the Rider benefit ceases to apply, if Base policy is in lapsed/ paid-up condition.

No surrender value shall be available under this Rider.

No loan shall be granted under this Rider.

As in the Base Policy 8. PAID-UP VALUE: This rider will not acquire any paid-up value and the Rider benefit ceases to apply, if Base policy is in lapsed/ paid-up condition.

Same as the Base plan 5. SAMPLE PREMIUM RATES: The sample illustrative annual premiums to secure the benefit of cessation of ₹ 100/- Premium under the Base Plan are given below for some of the ages and terms: Rider Proposer's Age Term Upto 25 26-30 31-35 36-40 41-45 46-50 51-55 years years years years years years years 5 1.70 1.70 1.85 2.10 2.45 3.10 4.10 10 2.20 2.25 2.55 3.10 4.05 5.75 8.15 15 2.60 2.80 3.30 4.35 6.10 8.90 12.75 20 3.05 3.45 4.25 5.85 8.40 12.35 - 25 3.50 4.15 5.40 7.65 11.05 - -

If the policyholder is not satisfied with the “Terms and Conditions” of the Rider, the Rider Endorsement alongwith the Base Policy Document may be returned to the Corporation within 30 days from the date of receipt the electronic or physical mode of the Rider Endorsement , whichever is earlier, stating the reason of objections. On receipt of the same the Corporation shall cancel the Rider and return the amount of premium deposited in respect of this Rider after deducting the proportionate risk premium (for this Rider) for the period of cover, expenses incurred on medical examination( including special reports, if any) on account of Rider inclusion, and stamp duty charges.

SUICIDE: - This Rider will be void if the Proposer (whether sane or insane) commits suicide anytime within 12 months from the date of commencement of this rider or within 12 months from the date of revival. The Corporation will not entertain any claim under this rider (i.e. premiums payable under the Base Policy shall not be waived), however, 80% of the premiums paid for LIC's Premium Waiver Benefit Rider shall be refunded provided the policy is in-force.