This rider takes care of the payment of premium under a policy taken on the life of a minor in case of unfortunate death of the proposer. The premiums payable under the policy commencing from the next policy anniversary after the date of the proposer are paid by Sahara India Life Insurance Company Limited.
| Minimum Entry Age |
18 years (Nearer Birthday) |
| Maximum Entry Age |
57 years (Nearer Birthday) |
| Maximum Coverage Age |
65 Years |
| Policy Term |
21 less the age of the life assured under the base policy |
| Premium Paying Term |
21 less the age of the life assured under the base policy |
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| Indicative Annual Premium Rates per Rs.100 premium of the base policy for age of the life assured being zero, to be waived are as under: |
| Premium paying term of the base plan |
21 years |
| Term of Premium Waiver Rider |
21 years |
| Premium paying term of Premium Waiver Rider |
21 years |
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| Age |
Premium (Rs.) |
| 20 |
2.10 |
| 25 |
2.20 |
| 30 |
2.50 |
| 35 |
3.40 |
| 40 |
5.20 |
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• Modes applicable as per base policy (Sahara Ankur).
• For yearly and half-yearly mode of premium payments rebate of 3% and 1.5% respectively of tabular premium is available.
• In the event of death of the proposer during the premium paying period, future premiums under the base policy from the next policy anniversary will be paid by the Company provided the policy including the rider was inforce and the policy will be kept inforce by recovering the rider premium, mortality and administration charges etc. from the Fund till the Company starts paying premiums due from the next policy anniversary.
• The premium waiver benefit rider has been granted on the basis of proposer's personal statement, declaration and connected documents and in case it is found that any untrue or incorrect statement is contained therein or any material information is withheld, future premiums under base policy will not be paid by the Company as premium waiver benefit rider will stand cancelled.
• Premium rates for this Rider are subject to revision, depending on the experience with regard to the Rider, at sole discretion of the Company and subject to approval of IRDA.
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