Birla Sun Life Insurance Waiver of Premium Rider

There are many compelling reasons to purchase life insurance, but what would happen to your coverage in the event of an accident or unexpected illness. BSLI Waiver of Premium rider ensures your insurance benefits continue if you are unable to pay the premiums in the event any unforeseen calamities.

ELIGIBILITY CRITERIA

Entry Age	18 – 65 years Maximum age at the end of rider term is 70 years
Rider Term	Same as that of the base plan or till the attained age 70 of the proposer, whichever is earlier
Pay Term	Same as base plan
Pay Mode	Same as base plan

The total rider premiums on the base plan must be no more than 30% of the base plan premium

You may opt for this rider only at the time of policy issue.

BENEFITS

If you are unable to pay your premium in the event of financial difficulties arising due to the following:

Proposer becomes completely disabled due to an illness or accident
Proposer is diagnosed with any of the specified critical illnesses
Death of the proposer (if not the life insured)

then BSLI will waive off all the future premiums of the base plan and the attached riders throughout the rest of the policy term or until the termination of the policy or till the attained age 70 of the proposer whichever is earlier.

The benefit under this rider is payable only when the base plan is in effect. The cover under this rider will cease after a claim under this rider is paid, however, the cover under the base plan/other rider/s will continue.

DEFINITIONS

Total and Permanent Disability

The proposer shall be regarded as disabled and entitled to this benefit if due to illness, disease, injury or surgical operations s/he is totally and permanently unable, even with reasonable training, rehabilitation and/or job accommodation to engage in gainful employment in any occupation whatsoever. This disability should last for at least 180 days before being eligible for total and permanent disability benefits.

Critical Illnesses

We cover 4 major illnesses under this benefit ‐

Heart Attack

First occurrence of heart attack or myocardial infarction which means the death of a portion of the heart muscle as a result of an acute interruption of blood supply to the myocardium. The diagnosis must be based on a history of typical chest pain, new characteristic electrocardiographic changes proving infarction, and significant elevation of cardiac enzymes. Diagnosis must be confirmed by a consultant cardiologist. Angina is specifically excluded.

Cancer

A malignant tumor characterized by the uncontrolled growth and spread of malignant cells and the invasion of tissue. The diagnosis must be histologically confirmed. The term cancer includes leukemia but the following cancers are excluded -

- All forms of lymphoma, Kaposi's sarcoma in the presence of any Human Immunodeficiency Virus
- Any skin cancer other than invasive malignant melanoma
- All tumors which are histologically described as pre‐malignant, non-invasive or carcinoma in situ

Stroke

A cerebrovascular incident producing neurological sequelae of a permanent nature, having lasted not less than six months. Infarction of brain tissue, haemorrhage and embolisation from an extra‐cranial source are included. The diagnosis must be based on changes seen in a CT scan or MRI and certified by a neurologist. Excluded are -

- Transient ischemic attacks (TIA)
- Traumatic injury of the brain
- Vascular disease affecting only the eye or optic nerve or vestibular functions.

Major Organ Transplant

Actual undergoing of a transplant as a recipient of:

- Human bone marrow using haematopoietic stem cells, preceded by total bone marrow ablation; or;
- One of the following human organs: heart, lung, liver, kidney that resulted from irreversible end - stage failure of the relevant organ;
Other stem-cell transplants are excluded. The undergoing of a transplant must be confirmed by a specialist medical practitioner.

EXCLUSIONS

The life insured will not be entitled to any benefits if a covered critical illness or disability results either directly or indirectly due to, or caused, occasioned, accelerated or aggravated by any of the following:

Diseases in the presence of an HIV infection
Any pre-existing or recurring disease which is diagnosed or which the proposer contracted prior to the policy issue date or the revival date of the policy, whichever is later
Any disease occurring during the waiting period
No payment will be made by us for any claim directly or indirectly caused by, based on, arising out of, or howsoever, to any illness or accident for which care, treatment, or advice was recommended by or received from a physician, or which first manifested itself or was contracted before the start of the policy period, or for which a claim has or could have been made under any earlier policy
Any congenital condition
Intentional self-inflicted injury, attempted suicide, while sane or insane
Alcohol or solvent abuse or intake of drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner
Failure to seek or follow medical advice
War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes
Taking part in any naval, military or air force operation during peace time
Where the proposer is engaged in aviation or aeronautics other than as a passenger on a licensed commercial aircraft operating on a scheduled route
Participation by the proposer in a criminal or unlawful act
Engaging in or taking part in professional sport(s) or any hazardous pursuits, including but not limited to, diving or riding or any kind of race; underwater activities involving the use of breathing apparatus or not; martial arts; hunting; mountaineering; parachuting; bungee-jumping
Nuclear contamination; the radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature

TERMS AND CONDITIONS

Termination of rider

You are not allowed to opt out of the rider once availed. However, the rider benefit will cease immediately if the base plan is terminated, discontinued or made paid-up.

Current Tax Benefits

As per extant tax laws, this plan offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Under Section 80C, premiums up to Rs. 100,000 are allowed as a deduction from your taxable income each year.
Under Section 10(10D), the benefits you receive from this plan are exempt from tax, subject to mentioned exclusions.

Service Tax

Service Tax and other levies, as applicable, will be extra and levied as per the extant tax laws.

Prohibition of Rebates – Section 41 of the Insurance Act, 1938

No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

Non-Disclosure – Section 45 of the Insurance Act, 1938

No policy of life insurance effected after the coming into force of this act shall, after the expiry of two years from the date on which it was effected be called in question by an insurer on the ground that statement made in the proposal or in any report of a medical officer, or referee, or friend of the life insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life insured was incorrectly stated in the application.

DISCLAIMERS

This rider is underwritten by Birla Sun Life Insurance Company Limited (BSLI). This brochure contains only the salient features of the rider. Tax benefits are subject to changes in the tax laws. Insurance is the subject matter of the solicitation. For further details please refer to the policy contract or call your BSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.

Regd. Office: One Indiabulls Centre, Tower 1, 15th & 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013. Reg. No. 109

UIN: 109C017V01 ADV/8/10‐11/4142 VER 1 /Aug/2010