Family Income Benefit Rider
A Non-linked Non-Participating Rider
This rider provides you with additional cover in case of accidental death or disability. This cover is paid in monthly installments.
This rider can be chosen by the policyholder along with the base plan for a nominal premium*, either at inception of the policy or at policy anniversary, provided that it meets the eligibility conditions.
*Subject to the condition that the premiums under all life insurance riders put together shall not exceed 30% of the base plan premium.
PREMIUM PAYMENT TYPE
PREMIUM PAYMENT TERM
RP: Same as Policy Term
LP: 5 to 51 years
PREMIUM PAYMENT MODE
BENEFITS UNDER THE RIDER*
On death of the life assured due to an accident or in the event of the life assured becoming totally and permanently disabled due to an accident before the end of the rider term, 1% of Sum Assured is payable every month, till the end of the rider term or for a period of 10 years, whichever is higher, from the date of accident.
The granting of disability benefit automatically cancels the accident benefit option under the policy.
On Survival up to the end of the rider term, nothing is payable.
*Benefits under the rider are payable only if the base plan is in force. The rider benefit will cease immediately if the base plan is terminated or discontinued. The rider benefit will also cease when a claim is paid.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.