RATE BOOKstate life

special waiver of premium SWP rider

special waiver of premium SWP rider

special waiver of premium SWP rider

This Rider will provide for the premium on the policy to be waived during Total and Permanent Disability which renders the policyholder unable to engage in any occupation.

Disability Whether by Accident or Sickness Will be Covered.

The premium of the policy will be waived under this rider only if the disability has lasted for more than 6 months on the premium due date.

SPECIAL  WAIVER OF PREMIUM RIDER Exclusion;

The rider will not cover any disability caused By;

1-Self-inflicted injury;

2-Indulgence in alcohol;

3-The user of drugs(other than as prescribed by a medical  practitioner )

4-Entering, operating or servicing, ascending or descending from or with any underwater or aerial device or conveyance except as a fare-paying passenger.

5-War  whether  declared or not,

6-Hazardous pastime such as racing, big game shooting etc;

7-Pregnancy, childbirth or any complications thereof.

(b)           Written notice of disability must be  given to state life within 13 weeks of the occurrence of any

Disability likely to give rise to a claim or as soon as it is reasonably possible to do so.

(c )     The policyholder must furnish satisfactory proof of disability within 7 days of the end of 6 months waiting period at his own cost. State life will have the right opportunity to examine the person of the life assured at any time, place and so often as it may require.

(d)      The insurance  under this rider will terminate on the earliest of the following dates;

1-On any policy anniversary at the prior notice of thirty days, given either by the policyholder or by state life to another party.

2-On the date the policy lapses or is forfeited surrendered, converted into a paid-up policy or terminates in any other manner,

3-When the life assured’s age nearest birthday on an anniversary of the policy reaches sixty years.

(e )          All periods of disability arising from the same cause and not separated by more than 3 months will be considered to be considered to be a single period of disability. The six months waiting period will be counted from the commencement of the first, of such period of disability.

(f)       The premium  for this rider  may be increased by  state life with effect from any policy anniversary after the  third  by giving at least 3 months notice

 

Under the advance purchase included in the agreement, the next purchase option can be used ahead of the scheduled time if the insured marries or becomes a father (or mother), so long as the option is exercised within 60 days after the marriage or birth. If there are twins, triplets etc ., the amount of the option available is the usual Basic Amount multiplied by the number born.

Amount of  Option;

The maximum amount that can be purchased on each option date is what is called the Basic amount of the option. This basic amount is never greater than the face amount of the basic policy nor can it exceed Rs. 50,000 or be less than Rs.15,000( which is the maximum  size policy to which the GI rider can be attached  .) In case of big deal policy, the face amount of the basic policy would be bonus sharing component, i.e Rs.25,000 per unit of Big Deal.

WAIVER OF PREMIUM RIDER

This supplementary Contract provides waiver ofr  of due premiums in the event of the assured’s Total and Permanent Disability caused by accident.The rate of premium for standard risk will be Re. 0.50 upto age 24,Re.0.75 for ages  25-29 and Re.1.00 for ages 30 and over per thousand of sum assured. For the purposes of this Rider sum assured per unit of Big Deal will be Rs.One lac.

AGE NEAREST BIRTHDAT10152025303540
200.7290.8330.9381.0421.1981.4061.667
210.7290.8330.9901.0941..2501.510------------
220.7810.8851.0421.1461.3021.615-----------
230.8330.9381.0941.1981.4061.719
240.8850.9901.1461.2501.5101.823-----------------
250.9381.0421.1981.3541.6151.979-----------
260.9501.0941.2501.4581.719-----------------
270.9901.1461.3021.5631.823---------------
281.0421.1941.3541.6671.979 ----------------
291.0941.2501.4581.7712.135-------------------------
301.1461.3541.5631.8752.292-------------------
311.1981.4061.6672.031----------------------------
321.2501.5101.7712.188----------------------------
331.3541.6151.8752.344--------------------------------------
341.4581.7192.0312.552-----------------------------------
351.5631.8232.1882.760------------------------------------
361.6671,9792.396-----------------------------------------
371.7712,1352.604-------------------------------------------------------------------
381,8752.2922.865-------------------------------------------------------------------
391.9792.4483.125-----------------------------------------------------------------
402.1352.6563.385---------------------------------------------------------------
412.3442.917--------------------------------------------------------------------------------------------
422,5523,177---------------------------------------------------------------------------------------------------------------
432.7603.490--------------------------------------------------------------------------------
442.9693.802----------------------------------------------------------------
453.1774.115------------------------------------
463.438---------------
473.802
484.219
494,688
505.260
AGE NEAREST BIRTHDAY18212427
200.8990.9571.0181.097
210.9351.0131.0731.143
220.9871.0651.1261.194
231.0421.1151.1741.261
241.0981.1651.2231.327
251.1391.2261.3181.441
261.1831.2871.4121.557
271.2281.3461.5041.680
281.2731.4-51.5951.811
291.3631.5121.7011.917
301.4711.6161.8032.032
311.5531.7301.9482.209
321.6571.8372.0852.398
331.7581.9452.2232.615
341.8902.1132.424-----------
352.0232.2832.624-------------------
362.2172.5012.891---------------
372.4042.729-----------------------------
382.6172.988-------------------------
392.8293.283-------------------------
403.068-----------------------------------
413.386-------------------------------------
423.711-----------------------------------
AGE NEAREST BIRTH DAY354045505560
200.8330.9381.0421.1981.4061.667
210.8010.9641.0731.2091.4561.767
220.8230.9871.1061.2241.4711.840
230.8511.0111.1341.2611.5331.893
240.8871.0301.1651.2841.5841.937
250.9381.0421.1981.3541.6151.979
26----------1.0661.2151.4121.6642.051
27------1.0971.2281.4481.7352.114
28---------1.1241.221.463`1.8112.170
29-------1.1271.2841.5121.8432.227
30---------1.1461.3541.5631.8752.292
31--------------------------1.3621.6081.9482.406
32----------------------------1.4151.6571.9932.514
33-----------------------1.4721.7072.0262.615
34-------------------1.5141.7722.1132.699
35--------------------1.5631.8232.1882.760
36-------------------------------------1.9082.3042.891
37----------------------1.9772.4043.026
38-------------------------------------2.0232.5023.159
39------------------------------------------2.0562.5673.283
40--------------------------------------2.1352.6563.385
41-----------------------------------------------------------2.8023.553
42---------------------------------------------------------2.9273.711
43------------------------------------------------------------------------3.0523.856
44-------------------------------------------------------------------------3.1363.989
45-----------------------------------------------------------------------3.1774.115
46---------------------------------------------------------------------------------------------4.323
47----------------------------------------------------------------------------------------------4.548
48-----------------------------------------------------------------------------------------4.788
49------------------------------------------------------------------------------------------------5.033
50----------------------------------------------------------------------------------------5.260

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