Tata AIA Waiver of Premium Plus (Linked) Rider Plan, Policy, Premium and Maturity Calculator
Tata AIA Waiver of Premium Plus (Linked) Rider Plan, Policy, Premium and Maturity Calculator - (This rider is designed for the Proposer of the base plan who is different from the Life Assured)
A disability can cause serious financial strain on a family. Given all the new unexpected expenses, paying life insurance premiums might become a struggle. At times, the inability to pay life insurance premiums each month would result in cancellation of your coverage.
Presenting, Tata AIA Life Insurance Waiver of Premium Plus (Linked) Riderwhich ensures your insurance benefits continue, if the proposer is unable to pay the premiums in the event of any unforeseen incident.
Tata AIA Life Insurance Waiver of Premium Plus (Linked) Rider - Benefits
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This is an optional linked unit deducting rider with rider coverage term equal to the premium paying term (PPT) of the base plan.
- If the Proposer (who is different from the life assured) - is unable to pay premiums due to the following:
- Proposer becomes Totally and Permanently Disabled due to accident or sickness
- Death of the Proposer
Then we will waive all the future premiums of the basic plan and deduction of Waiver of Premium Plus (Linked) Rider charges will cease throughout the rest of the premium paying term of the basic plan or till the proposer attains age of 65, whichever is earlier.
This rider is designed for the Proposer of the base plan. In the base product, Life Assured may be minor/non-earning major children/spouse when proposer may be parent/spouse. In this case, the Life insured can be child/ adult i.e. anyone on whom the Insurable Interest is possible.
This rider can be attached to individual linked products of the company.
Waiver of Premium Plus (linked) rider is available with Tata AIA Life Insurance Fortune Pro, Tata AIA Life Insurance Wealth Pro, Tata AIA Life Insurance Wealth Maxima & Tata AIA Life Insurance Fortune Maxima.
Premiums paid under this rider are eligible for tax benefits under Section 80D. For a detailed list of exclusions/conditions, please refer our rider brochure.
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