Max Life Comprehensive Accidental Death Benefit Rider (UIN -104B025V01)
Life is full of uncertainties. You do not want an accident to make a dent in your plans. We at Max Life Insurance understand this, which is why, we offer you Max Life Comprehensive Accidental Death Benefit Rider.
You can add Max Life Comprehensive Accidental Death Benefit Rider to your policy to provide additional protection against an unfortunate accident. The rider provides additional protection benefit in case you meet with an accident, leading to an unfortunate dismemberment (listed impairments) or death. The benefits under this rider are payable over and above the base plan benefits.
|Minimum / Maximum Entry Ages||18-60 years (age as at last birthday).|
|Expiry Age||75 years (age as at last birthday)|
|Minimum Sum Assured||Rs. 50,000|
|Maximum Sum Assured||Lower of Base Plan Sum Assured or Rs. 1 Cr per life|
|Rider Term||10 years to 35 years. The term of the rider shall be equal to or less than the term of the base plan.|
|Premium Payment Term||The premium payment term of the rider shall be equal to or less than the term of the base plan.|
|Minimum Premium||As Applicable for Minimum Rider Sum Assured|
|Premium Payment Mode||Rider offers four payment modes - Annual, semi-annual, quarterly, and monthly. However, if the rider is attached with Max Life Online Term Plan Plus, then only Annual Mode is allowed.|
This rider can be opted for by both males and females, smokers and non-smokers.
For further details, please refer to the Max Life Comprehensive Accidental Death Benefit Rider Brochure, Rider Contract
Max Life Waiver of Premium Plus Rider – A Non-Linked Rider (UIN: 104B029V01)
You are planning for your family's financial future and have made the right choice by purchasing a life insurance policy that ensures long-term financial protection for your family. While you have taken the first important step, it is critical that the policy is continued for its entire term, in order to enjoy the policy benefits. However, in case of any unfortunate event, how can you ensure that the policy is continued and you and your family continue to avail its benefits as promised? We at Max Life Insurance understand this and which is why we offer you a rider to make your financial planning comprehensive.
You can add Max Life Waiver of Premium Plus Rider to your life insurance policy and get waiver of all future premiums in case of Death, Disease or Dismemberment. The benefits under this rider are payable over and above the base plan benefits.
|Rider Term||Minimum Rider Term: -Same as base plan Premium Payment Term or remaining Premium Paying Term of base plan in case the rider is not taken at inception, subject to a minimum rider term of 5 years. |
Maximum Rider Term: - Same as base plan Premium Payment Term, subject to a maximum of 35 years and Policyholder not exceeding age of 70 years (age as at last birthday).
|Entry Ages (age as on last birthday)||Minimum Entry Age – 18 years|
Maximum Entry Age - 65 years
|Premium Payment Term||Same as Rider Term|
|Premium Payment Mode||Same as base plan|
|Maximum Maturity Age|
(age as on last birthday)
|On policy anniversary coinciding with or immediately following the Policyholder attaining age of 70 years.|
(To know the detailed events under which the benefits are payable, please refer to the sales brochure attached below)
|Rider provides waiver for all future premiums under a policy and all other attaching riders on earlier happening of either of the following events, provided the base policy and attaching riders are in force:|
Critical Illness; or
Death (only when Life Insured and Policyholder are different individuals)
Once claim under this rider is accepted and future premium(s) are waived; then in case of termination of base policy due to happening of any insured event or surrender (only if surrender value is available under the base policy), the following benefits are payable:-
All applicable benefits under the base policy The present value of the future Premium (including rider premium, if any) to be waived, discounted at the rate of 6.5% p.a.
|Minimum Premium||The Minimum Annual Premium is Rs. 2 per annum for age at entry of 18 years (age as at last birthday),Rider Term of 5 years and Base Plan Premium of Rs.1,000.|
|Maximum Premium||The maximum rider premium will be calculated basis the maximum base plan premium to which the rider is attached subject to maximum of Rs. 3,50,000 per life. The Max Life Waiver of Premium Plus Rider premium shall, in no case exceed,|
30% of premiums (including extra premium, if any) payable under the base policy when attached to a savings plan, and 100% of premiums (including extra premium, if any) payable under the base policy when attached to a term plan.
For further details, please refer to the Max Life Waiver of Premium Plus Rider Brochure, Rider Contract, Rider Rates & Rider Leaftet