Sentences with phrase «above riders sum»
The above riders sum assured can not exceed the base sum assured.
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Riders offer financial cover, over and above the basic sum assured, for a specific eventuality.
These riders will pay out an appropriate sum in case of the above - mentioned incidents take place.
The rider benefit will be available during the premium paying term only, on payment of additional premium over and above the base premium provided conditions on riders (entry age, policy term, sum assured) are satisfied.
By buying / attaching term insurance riders to the policy, a policyholder can be certain that his nominee will get an amount over and above the basic sum assured (due to any of the rider - related incidents).
The premium pertaining to health related or critical illness riders shall not exceed 100 % of premium under the basic product, the premiums under all other life insurance riders put together shall not exceed 30 % of premiums under the basic product and any benefit arising under each of the above mentioned riders shall not exceed the sum assured under the basic product.
For example 1) Accidental Death Benefit Rider: This rider pays an additional amount over an above the basic sum assured amount in case of death of the life assured due to an accident.
However if you opt for accidental death benefit rider; your nominee gets additional sum assured over and above the basic sum assured.
Hello Ankur, Accidental Death Benefit rider is an additional payment made over and above the normal sum assured in case of death due to an accident.
Accidental death rider pays additional sum assured over and above the policy sum assured in case the death is due to accident.
The difference is, if you opt for an Accidental Death Benefit Rider then if death happens due to an accident, the additional benefit of the rider will be paid over and above the normal sum assured.
The above calculation is for sum assured of Rs 5 Lakh, tenure is 12 years, for a 30 year old male and no optional riders have been chosen.