Shriram Life Waiver of Premium Rider
What is Shriram Life Waiver of Premium Rider
A Non-Linked, Non- Participating/Participating, Individual, Pure Risk Premium, Life / Health rider (UIN: 128B035V01)
Securing your family’s long-term financial future through a life insurance policy is a crucial step. However, to fully benefit from it, maintaining the policy for its entire term is essential. But how do you ensure your policy stays intact, especially during challenging times?
Shriram Life Insurance offers you Waiver of Premium Rider, designed to keep your policy active even when the unexpected happens. Whether facing a critical illness, disability, or the loss of a loved one, this rider waives future premium payments, allowing you to focus on recovery without worrying about your policy. With flexible options, comprehensive coverage, and added benefits, this rider ensures that your financial goals stay on track- no matter what life throws your way. Secure your future with confidence and peace of mind. Life’s uncertainties should never stand in the way of your dreams.
Features and Benefits of Shriram Life Waiver of Premium Rider
Waiver all Future Premiums in case of Death, Disease and Disability (Total or Partial).
Tailored benefits to suit your needs:
1.Life: Covers Death, Terminal illness
2.Health: Covers Terminal illness, Critical Illness, Total/Partial Disability
3.Life & Health: Covers Death, Terminal Illness, Critical Illness, Total/Partial Disability.
Premium Waiver including riders and underwriting extras (if any).
Eligibility Criteria for Shriram Life Waiver of Premium Rider
Eligibility Criteria | Limits |
|---|---|
Age at Entry * | Minimum: 18 years |
Maturity Age * | Minimum: 23 years |
Policy Term | Minimum: 3 years |
Premium Paying Term | Same as Rider Term |
Premium Payment Frequency | Yearly, Half-yearly, Quarterly and Monthly |
Minimum offered | The minimum rider sum assured offered is 15,000 |
Maximum offered | The maximum rider sum assured offered is 50,00,000 subject to Board approved underwriting policy. |
Basic Sum Assured | The Rider Sum Assured for any of the benefit options chosen under the WOP rider will be equal to the sum of total outstanding [annualized premium and annualized underwriting extra premiums (if any) of the base policy or subsisting other rider(s)] payable under each benefit option. |
*All ages are age last birthday
# Applicable Goods and Services Tax will be charged separately, as per applicable rates. The tax laws are subject to amendments from time to time.
