RATE BOOKstate life

guaranteed Insurability GI Rider

 

guaranteed Insurability GI Rider, state life gives the policyholder the right to purchase additional life insurance up to specified maximum amounts on specified further dates as standard rates, without evidence of insurability being required at such later dates.

option dates

Underwriting Rules, Limits etc.

(a)the rider will be issued only  to standard lives. Policies carrying an occupational  or aviation extra premium or issued to men  in military service cannot carry this rider.

(b)The face amount of  the basic policy must be Rs.15,000or more. The basic policy must be on permanent plan i.e Endowment etc. under  which the  premium payment  period extends at least to the policy  anniversary nearest age 40(i.e the last option date)

(c)           The rider will be offered at age10-37 only.

(d)          Only One GI rider will be issued on the life of any one person.

(e)           The rider is available only at the time of issue of the basic policy.

(f)            Issues  of the GI  rider will not prevent the addition of other types of the rider(TIR, FIB etc,) but the GI

will apply to the basic policy only.

(h)          In determining medical examination requirements, this rider will be  disregarded for issue ages

Under  20. For ages 20 and over, the basic amount  of the rider will be added to the face amount

Of the policy, commuted value of any FIB etc. in arriving at the amount category that

Determines medical examination requirements.

 

Exercise of the Option Right;

(a)A    new policy purchased  under the GI provisions may be on any Whole Life  or Endowment plan

Than    written by state Life

(b)       the new policy  will be issued at the attained age of the life  assured  premiums based on state

Life assured with premiums based on state life’s standard rates at the time.

(c)         The new policy must be applied for on the option date or within 60 days prior thereto. Any

Policy applied for, however, will not become effective until the option date.

 

(d)          There is no carry-over of an option right from one option date to another, it must be exercised at   The prescribed time forfeited.   Failure to exercise  the option right  on a particular  option right on a particular  option date  will not, however, affect  the right to purchase a new policy

On subsequent option date.

guaranteed Insurability GI Rider premium rate

When the option is exercised, the full commission will be paid on such policies issued as a result of the election, to the worker who secures the new policy. commission on the rider premium wil be at the same rate as for the basic policy.

AGE AT ISSUE YEARLYAGE AT ISSUEYEARLY
100.74241.35
110.78251.40
120.81261.45
130.85271.50
140.88281.55
150.92291.60
16 0.96301.65
171.00311.70
181.05321.75
191.10331.80
201.15341.85
211.20351.90
221.25361.95
231.30372.00
ISSUE AGESNO OF OPTION DATESOPTION DATE AGES
10-24625,28,31,34,37,40
25-27528,31,34,37,40
28-30431,34,37,40
31-33334,37,40
34-36237,40
37140

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