Ideal plan

AGEAS FEDERAL LIFE INSURANCE

Waiver of Premium Rider

A Non-Linked, Individual Pure Risk Premium, Life/ Health Insurance Rider (UIN: 135B038V01)

Ideal plan

AGEAS FEDERAL LIFE INSURANCE

Waiver of Premium Rider

A Non-Linked, Individual Pure Risk Premium, Life/ Health Insurance Rider (UIN: 135B038V01)

(Please provide First Name, Last Name and Date Of Birth as per Government Id.)
Myself
KEY BENEFITS

ELIGIBILITY CRITERIA

ELIGIBILITY CRITERIA

Rider Eligibility Table
STAGEMINIMUMMAXIMUM
Age at entryMinimum18 years
Maximum65 years
Maturity ageMinimum23 years
Maximum70 years**
Rider Policy TermMinimum5 years
Maximum20 years
STAGEDETAILS
Rider Premium Payment TypeRegular Pay
Rider Premium Paying TermEqual to the Outstanding PPT of the base plan
Rider Premium Payment ModeSame as base Plan
Variant Eligibility 1. Waiver of Premium on Death: Offered only when the policyholder and Life Assured under the base plan are different
2. Waiver of Premium on Critical Illness: Offered when the policyholder and Life Assured under the base plan are different or same

All ages are as per last birthday.

Life Assured under the WOP Rider shall mean the policyholder under the Base policy.

** The Maximum Maturity Age for the rider shall be less than or equal to the Maximum Maturity Age for the base product.

The total Rider Premium for “Waiver of Premium on Death” option (including extra premium, if any) shall not exceed 30% of premiums (including extra premium, if any) under the Base Policy.

The total Rider Premium for “Waiver of Premium on Critical Illness” option (including extra premium, if any) shall not exceed 100% of premiums (including extra premium, if any) under the Base Policy.

UIN (UIN135B038V01)

For more details on plan eligibility, please refer to the sales brochure.  

Rider Eligibility Table
STAGEMINIMUMMAXIMUM
Age at entryMinimum18 years
Maximum65 years
Maturity ageMinimum23 years
Maximum70 years**
Rider Policy TermMinimum5 years
Maximum20 years
STAGEDETAILS
Rider Premium Payment TypeRegular Pay
Rider Premium Paying TermEqual to the Outstanding PPT of the base plan
Rider Premium Payment ModeSame as base Plan
Variant Eligibility 1. Waiver of Premium on Death: Offered only when the policyholder and Life Assured under the base plan are different
2. Waiver of Premium on Critical Illness: Offered when the policyholder and Life Assured under the base plan are different or same

All ages are as per last birthday.

Life Assured under the WOP Rider shall mean the policyholder under the Base policy.

** The Maximum Maturity Age for the rider shall be less than or equal to the Maximum Maturity Age for the base product.

The total Rider Premium for “Waiver of Premium on Death” option (including extra premium, if any) shall not exceed 30% of premiums (including extra premium, if any) under the Base Policy.

The total Rider Premium for “Waiver of Premium on Critical Illness” option (including extra premium, if any) shall not exceed 100% of premiums (including extra premium, if any) under the Base Policy.

UIN (UIN135B038V01)

For more details on plan eligibility, please refer to thesales brochure

Plan Related Documents

Sample Policy Document

2522.56 KB

Customer Information Sheet

2637.46 KB

Brochure

KB

Flyer

KB

EVERYTHING ABOUT WAIVER OF PREMIUM RIDER

All your questions answered

It ensures your future policy premiums are paid for you if you face death or a listed critical illness, so your policy continues uninterrupted.

The waiver applies on death or diagnosis of any covered critical illness, as per the option chosen under the rider.

Yes, rider premiums are eligible for tax benefits as per prevailing tax laws.