RATE BOOKstate life

Refund of premium Rider

REFUND OF PREMIUM RIDER(RPR)

Refund of premium Rider- as the same suggests-provides for the refund of premiums under the policy in the event of the death of the policyholder during the currency of the policy. It is an ideal form of enhancing the life cover under the policy with a modest increase in premium.

The salient features of this rider are:

Benefits:

 If the policyholder dies while the rider is in  force:

All the premium paid under the policy are returned to the beneficiary. The premium for all another rider except the premium for ‘’Refund of premium Rider’’. This is in addition to the benefits provided by the basic policy and any other rider (s).

If the policyholder survives the term of the rider:

Under the rider, no benefits will be payable to the policyholder.

Premium:

The premium, rates for this rider are quoted as a percentage of premium payable under the policy. The premium under the policy, used for calculation, is the sum of basic premium, policy fee and premiums for all riders excluding the premium for ‘’Refund of Premium’’.

Admissible ages and terms:

The admissible entry ages, nearest birthday, under this rider range 20 to 60 years. The available terms range from 10 to 25 years.

Underwriting requirements:

The sum at risk for the rider for underwriting purpose will be equal to 50% of the basic sum assured under the policy to which this rider is attached. Other underwriting procedures will be as usual.

Plans to which  the rider is attachable:

Refund of premium Rider can be attached to the following policies:

  • Endowment Insurance (table 03)
  • Anticipated Endowment Assurance(table 05)
  • Child Protection policy(table 07)
  • Shadabad policy( table 36)

The rider can only be attached to new policies accepted at standard rates, and where no extra premium is charged. The rider can only be attached to new policies accepted at standard rates, and where no extra premium is charged.

AGE NEAREST BIRTH DAY10 YEARS11 YEARS12 YEARS13 YEARS14 YEARS15 YEARS
200.850.931.011.101.201.30
210.890.971.061.161.261.37
220.931.021.121.221.331.45
230.971.071.171.291.411.54
241.021.121.241.361.491.64
251.071.191.311.441.591.74
261.131.251.391.531.691.86
271.191.331.481.631.811.99
281.271.411.571.751.942.14
291.351.511.681.872.082.31
301.441.611.812.022.252.51
311.541.731.942.182.442.72
321.651.862.102.362.652.97
331.782.022.282.572.893.25
341.922.192.482.813.173.57
352.092.382.713.083.483.94
363.282.612.973.393.844.36
372.492.863.283.744.254.84
382.743.153.624.144.735.38
393.023.494.014.605.276.01
403.343.874.465.135.886.71
413.704.304.985.736.587.51
424.134.805.576.427.368.40
434.615.386.237.188.239.38
445.166.026.988.049.2010.45
AGE NEAREST BIRTH DAY10 YEARS11 YEARS12 YEARS13 YEARS14 YEARS15 YEARS
455.786.757.818.9810.2511.62
466.487.568.7310.0211.4012.87
477.268.459.7411.1312.6214.20
488.129.4210.8212.3313.9315.62
499.0510.4711.9813.6015.3117.12
5010.0511.5813.3214.9516.7818.70
5111.1212.7714.5216.3718.3220.36
5212.2514.0215.8917.8619.9322.11
5313.4415.3317.3319.4321.6323.94
5414.6816.7118.8421.0823.4225.86
5515.9918.1520.4222.8125.3027.89
5617.3719.6722.0924.6327.27-------
5718.8121.2723.8526.55---------
5820.3422.9625.71-------------
5921.8524.75--------------
6023.66------------------------------------------------
AGE NEAREST BIRTHDAY16 YEARS17 YEARS18 YEARS19 YEARS20 YEARS
201.411.531.661.801.94
211.491.621.761.912.07
221.581.721.872.042.21
231.681.832.002.182.38
241.791.962.142.342.56
251.912.092.302.522.76
262.052.252.472.722.99
272.202.432.672.953.25
283.372.622.903.213.55
292.572.853.163.503.88
302.793.103.453.844.26
313.043.393.784.224.70
323.333.724.164.655.20
333.654.104.595.155.76
344.024.525.095.716.41
354.455.015.656.367.14
364.935.576.297.087.96
375.496.217.027.918.88
386.126.937.838.829.90
396.837.748.759.8411.01
407.648.659.7610.9512.23
418.549.6510.8712.1613.54
429.5310.7612.0713.4714.95
4310.6211.9513.3714.8716.45
4411.8013.2414.7616.3618.04
4513.0714.6216.2417.9519.73
4614.4316.0817.8119.6321.51
4715.8817.6319.4721.3923.39
4817.4019.2721.2223.2625.36
4919.0221.0023.0725.2127.43
5020.7122.8225.0027.2729.60
5122.5024.7227.0329.42------------
5224.3726.7329.16------------
5326.3428.82-----------------
5428.40--------------------------------------
AGE NEAREST BIRTHDAY21 years22 years23 years24 years25 years
202.102.282.462.672.90
212.252.442.652.883.13
222.412.622.853.113.39
232.592.833.093.373.60
242.793.063.353.674.02
253.033.323.644.004.40
263.293.623.984.394.83
273.583.954.364.825.33
283.924.344.805.315.89
294.304.775.305.886.52
304.745.275.866.527.24
315.245.846.517.248.05
325.816.487.238.068.96
336.457.218.058.969.96
347.188.038.969,9711.06
358.008.959.9711.0812.26
368.929.9611.0912.2913.56
379.9411.0812.3013.5914.95
3811.0612.3013.6115.0016.45
3912.2713.6115.0216.5018.04
4013.5915.0216.5218.0919.73
4115.0016.5318.1219.7921.51
4216.5018.1319.8221.5823.40
4318.1019.8321.6223.4725.39
4419.8021.6223.5125.4627.47
4521.5923.5125.5027.5529.66
4623.4725.5027.6029.75--------------
4725,4627.5929.79--------------------------
4827.5428.78-----------------------------------
4929.72---------------------------------------------------

 

 

 

 

 

 

 

 

 

 

 

 

 

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