Bharti AXA Life Premium Waiver Rider(UIN: 130B005V03)

With the help of this Premium Waiver Rider, you will be provided with additional protection that waives off your future premiums, in case you are faced with an unfortunate and sudden event like critical illness, permanent disability or death. So your benefits under the base plan continue as is.

4 REASONS TO BUY

  • Benefits of your base Policy continue even after an unfortunate event.

    It helps you enjoy the benefits of your base Policy, in case of critical illness, total permanent disability or death, depending on the chosen option

  • Future Premiums of the base policy are waived off.

    You will not be liable to pay future Premiums of your base policy either on death, total permanent disability or critical illness of the Proposer.

  • Multiple waiver of premium options.

    Option 1 provides benefit of waiving off all future Premiums due and payable under the base policy either on death or on total and permanent disability of the Proposer.

    Option 2 provides the benefit of waiving off all future Premiums due and payable under the Base Policy on the confirmed diagnosis of the Proposer suffering from any one of the 11 critical illnesses listed in the brochure.

  • Enjoy Tax benefits on Rider Premium as well as on base plan.

    You will be eligible for Tax benefits under Section 80C of Income Tax Act, 1961, if you choose option 1 of Premium Waiver Rider. You will also be eligible for Tax benefits under Section 80D of Income Tax Act, 1961, if you chose option 2 of Premium Waiver Rider.

Plan details

Who can buy?

WHO CAN BUY?

Boundary Conditions

Parameter Eligibility
Minimum age at entry 18 years
Maximum age at entry 65 years
Maximum age at Maturity 70 years
View Details

VIEW DETAILS

Two options to choose from.

Option 1

Waiver of Premium on Death or Total and Permanent Disabilityprovides benefit of waiving off all future premiums due and payable under the Base Policy either on Death or on Total and permanent disability of the Person Insured.

Conditions for Total and permanent disability:

  • In order for a benefit to be payable, the disability must have persisted continuously for a period of at least 180 days and must, in the opinion of a suitable medical practitioner, appointed by the Insurance company, be deemed permanent.
  • Claim for Total and Permanent Disability will only be accepted if it has occurred after 90 days from the date of issue/date of revival of the rider.

Option 2

Waiver of Premium on Critical Illnessprovides the benefit of waiving off all future premiums due and payable under the Base Policy on the confirmed diagnosis of the Person Insured suffering from any one of the 11 critical illnesses covered under the Rider. Critical Illness covering 11 conditions are:

  • First Heart Attack - Of Specified Severity
  • Open Chest CABG
  • Kidney Failure Requiring Regular Dialysis
  • Major Organ/Bone Marrow Transplant (Kidney/Liver/Lung/Heart)
  • Open Heart Replacement or Repair Of Heart Valves
  • Stroke Resulting in Permanent Symptoms
  • Coma of Specified Severity
  • Multiple Sclerosis with Persisting Symptoms
  • Cancer of Specified Severity
  • Permanent Paralysis of Limbs
  • Benign Brain Tumour

Conditions for Critical Illness:

  • Claim for critical illness will only be accepted if the illness has occurred after 90 days from the date of issue/date of revival of the rider
  • The person insured should survive for 30 days following the date of diagnosis of Critical Illness. No benefit is payable if Person Insured dies within 30 days from the date of diagnosis

Non-forfeiture benefits

  • There is no surrender value or paid-up value available on this rider. On surrender of the base plan no rider benefit will be paid
  • The rider benefit will cease immediately if the base plan is terminated. The rider cover will also cease when a claim is paid

 

Taxes

  • You may be eligible for tax benefits under Section 80C of Income Tax Act, 1961, if you choose option 1 of Premium Waiver Rider
  • You may also be eligible for tax benefits under Section 80D of Income Tax Act, 1961, if you chose option 2 of Premium Waiver Rider

 

The tax benefits are subject to change as per change in Tax laws from time to time.

Premium rates

HERE ARE THE AGE WISE PREMIUM RATES

Premium Rates for Option 1: Waiver of Premium on Death or Total and Permanent Disability

Age / PPT 5 6 7 8 9 10 11 12 13 14 15 20 25 30 35
18 1.57 1.67 1.7 1.85 1.93 2.11 2.45 2.53 2.84 2.86 3.22 4.03 4.32 4.55 4.73
19 1.59 1.69 1.73 1.88 1.96 2.15 2.49 2.58 2.89 2.91 3.28 4.1 4.41 4.64 4.83
20 1.61 1.71 1.75 1.91 1.98 2.18 2.53 2.61 2.93 2.95 3.32 4.17 4.48 4.73 4.93
21 1.62 1.73 1.77 1.93 2 2.2 2.55 2.64 2.96 2.99 3.36 4.22 4.55 4.8 5.02
22 1.63 1.74 1.78 1.94 2.02 2.22 2.57 2.66 2.98 3.01 3.39 4.27 4.61 4.88 5.1
23 1.64 1.75 1.79 1.95 2.03 2.23 2.59 2.68 3.01 3.04 3.42 4.32 4.67 4.95 5.19
24 1.64 1.76 1.8 1.96 2.04 2.25 2.61 2.7 3.03 3.06 3.45 4.37 4.74 5.03 5.29
25 1.65 1.76 1.81 1.97 2.06 2.26 2.63 2.72 3.05 3.09 3.48 4.42 4.82 5.13 5.4
26 1.66 1.77 1.81 1.98 2.07 2.28 2.64 2.74 3.08 3.12 3.52 4.49 4.91 5.24 5.53
27 1.66 1.78 1.82 1.99 2.08 2.29 2.67 2.77 3.11 3.16 3.56 4.56 5 5.36 5.68
28 1.67 1.79 1.84 2.01 2.1 2.32 2.7 2.8 3.16 3.2 3.62 4.66 5.13 5.52 5.85
29 1.68 1.8 1.85 2.03 2.13 2.35 2.74 2.85 3.21 3.26 3.69 4.77 5.28 5.7 6.06
30 1.69 1.82 1.87 2.06 2.16 2.38 2.78 2.9 3.27 3.33 3.77 4.91 5.45 5.91 6.3
31 1.71 1.84 1.9 2.09 2.19 2.43 2.84 2.96 3.35 3.41 3.88 5.07 5.67 6.17 6.59
32 1.73 1.87 1.94 2.13 2.24 2.49 2.92 3.05 3.45 3.52 4 5.27 5.93 6.46 6.92
33 1.76 1.91 1.98 2.18 2.3 2.56 3.01 3.15 3.57 3.64 4.15 5.51 6.23 6.81 7.3
34 1.8 1.95 2.03 2.25 2.37 2.64 3.11 3.26 3.71 3.79 4.33 5.79 6.57 7.21 7.74
35 1.84 2 2.09 2.32 2.46 2.74 3.23 3.4 3.87 3.97 4.54 6.11 6.97 7.67 8.24
36 1.88 2.06 2.16 2.4 2.55 2.86 3.38 3.56 4.06 4.17 4.78 6.48 7.43 8.18 -
37 1.94 2.13 2.24 2.5 2.66 2.99 3.55 3.74 4.28 4.41 5.06 6.91 7.95 8.78 -
38 2 2.21 2.33 2.62 2.79 3.15 3.74 3.96 4.54 4.68 5.38 7.4 8.54 9.44 -
39 2.08 2.31 2.44 2.75 2.95 3.33 3.97 4.21 4.83 4.99 5.75 7.72 9.01 10.2 -
40 2.16 2.41 2.57 2.9 3.12 3.54 4.23 4.49 5.17 5.35 6.18 8.11 9.42 11.05 -
41 2.26 2.54 2.72 3.08 3.32 3.78 4.53 4.82 5.57 5.77 6.67 8.53 9.97 - -
42 2.38 2.69 2.88 3.29 3.56 4.06 4.87 5.2 6.02 6.24 7.23 8.88 10.15 - -
43 2.52 2.86 3.08 3.52 3.83 4.37 5.27 5.63 6.53 6.78 7.86 9.1 10.42 - -
44 2.67 3.05 3.31 3.8 4.14 4.74 5.72 6.12 7.1 7.39 8.57 9.56 10.78 - -
45 2.85 3.28 3.56 4.11 4.49 5.15 6.23 6.68 7.75 8.07 9.37 10.25 11.2 - -
46 3.05 3.53 3.86 4.46 4.88 5.61 6.8 7.29 8.48 8.83 10.26 11.03 - - -
47 3.28 3.81 4.18 4.84 5.31 6.12 7.42 7.98 9.28 9.66 11.24 11.52 - - -
48 3.53 4.13 4.54 5.27 5.79 6.68 8.11 8.72 10.15 10.57 11.54 11.97 - - -
49 3.81 4.47 4.93 5.74 6.31 7.29 8.86 9.52 10.6 11.56 11.98 12.1 - - -
50 4.11 4.83 5.35 6.23 6.87 7.93 9.65 10.38 11.01 12.56 12.89 13.02 - - -
51 4.43 5.23 5.79 6.77 7.46 8.63 10.51 11.31 11.4 13.75 14.01 - - - -
52 4.76 5.64 6.27 7.33 8.08 9.36 10.97 11.4 11.6 14.95 15.2 - - - -
53 5.11 6.08 6.76 7.92 8.74 10.13 11.25 13.32 14.15 16.23 17.45 - - - -
54 5.48 6.53 7.28 8.54 9.44 10.95 11.4 14.42 14.6 17.59 17.94 - - - -
55 5.87 7.01 7.83 9.19 10.17 11.81 11.97 15.59 16.52 18.06 18.5 - - - -
56 6.28 7.52 8.41 9.89 10.95 12.5 12.6 16.84 17.6 20.64 - - - - -
57 6.71 8.05 9.02 10.63 11.79 13.72 13.91 15.59 17.97 - - - - - -
58 7.17 8.63 9.69 11.43 12.69 14.51 14.77 19.7 - - - - - - -
59 7.68 9.26 10.42 12.31 13.69 15.99 16.24 - - - - - - - -
60 8.23 9.96 11.21 13.28 14.8 17.32 - - - - - - - - -
61 8.83 10.71 12.08 14.35 16.02 - - - - - - - - - -
62 9.49 11.54 13.06 15.55 - - - - - - - - - - -
63 10.22 12.49 14.17 - - - - - - - - - - - -
64 11.06 13.56 - - - - - - - - - - - - -
65 12.03 - - - - - - - - - - - - - -
  • Rates per 100 of Base Premium per annum
  • The above mentioned rates are for Male life. Three years set back for female lives.
  • Rates mentioned here are exclusive of service tax.

 

Premium Rates for Option 2: Waiver of Premium on Critical Illness

Age / PPT5678910111213141520253035
18 1.6 1.75 1.89 2.02 2.16 2.24 2.4 2.57 2.76 3.1 3.56 3.9 4.05 4.2 4.3
19 1.62 1.78 1.93 2.06 2.19 2.28 2.44 2.61 2.79 3.15 3.62 3.96 4.11 4.26 4.35
20 1.63 1.78 1.93 2.07 2.22 2.32 2.48 2.65 2.84 3.2 3.66 3.99 4.13 4.27 4.41
21 1.67 1.82 1.97 2.11 2.26 2.33 2.49 2.66 2.85 3.21 3.7 4.03 4.17 4.31 4.45
22 1.68 1.84 1.99 2.13 2.28 2.35 2.51 2.68 2.87 3.23 3.73 4.07 4.21 4.35 4.49
23 1.7 1.86 2.01 2.15 2.3 2.37 2.53 2.71 2.9 3.26 3.77 4.12 4.27 4.42 4.57
24 1.71 1.87 2.02 2.16 2.31 2.38 2.55 2.73 2.92 3.28 3.81 4.16 4.31 4.46 4.61
25 1.73 1.89 2.04 2.18 2.33 2.39 2.57 2.75 2.94 3.31 3.85 4.21 4.37 4.53 4.69
26 1.76 1.92 2.08 2.23 2.39 2.42 2.59 2.77 2.96 3.34 3.89 4.25 4.41 4.57 4.73
27 1.81 1.98 2.14 2.29 2.45 2.43 2.6 2.78 2.98 3.36 3.92 4.27 4.45 4.55 4.81
28 1.83 2 2.16 2.31 2.46 2.47 2.64 2.82 3.02 3.4 3.96 4.28 4.51 4.5 4.95
29 1.85 2.01 2.18 2.33 2.49 2.5 2.67 2.86 3.06 3.45 4 4.28 4.56 4.42 5.01
30 1.85 2.02 2.19 2.33 2.5 2.6 2.78 2.98 3.19 3.6 4.04 4.3 4.67 4.28 5.03
31 1.86 2.03 2.19 2.35 2.52 2.75 2.94 3.14 3.36 3.79 4.18 4.45 4.7 4.55 5.09
32 1.9 2.08 2.25 2.41 2.58 2.89 3.09 3.31 3.53 3.98 4.38 4.73 4.75 4.8 5.2
33 1.93 2.11 2.28 2.44 2.6 3.07 3.29 3.52 3.76 4.24 4.45 4.79 4.81 4.89 5.31
34 2.01 2.2 2.38 2.55 2.72 3.28 3.51 3.75 4.02 4.53 4.57 4.86 4.91 4.96 5.4
35 2.1 2.29 2.47 2.65 2.84 3.51 3.75 4.02 4.3 4.85 4.76 5.21 5.41 5.61 5.81
36 2.21 2.41 2.6 2.79 2.99 3.78 4.05 4.33 4.64 5.22 5.16 5.71 5.99 6.27 -
37 2.33 2.55 2.75 2.95 3.15 4.09 4.38 4.68 5.02 5.65 5.64 6.22 6.5 6.78 -
38 2.48 2.71 2.94 3.14 3.37 4.47 4.78 5.11 5.47 6.16 6.19 7.02 7.52 8.02 -
39 2.66 2.91 3.14 3.37 3.6 4.85 5.2 5.56 5.95 6.7 6.79 7.88 8.61 9.34 -
40 2.84 3.1 3.36 3.59 3.84 5.28 5.65 6.05 6.48 7.3 7.46 8.81 9.77 10.73 -
41 3.02 3.29 3.56 3.81 4.08 5.73 6.13 6.56 7.01 7.9 8.15 9.74 10.9 - -
42 3.23 3.53 3.82 4.09 4.38 6.25 6.69 7.15 7.66 8.62 8.96 10.84 12.25 - -
43 3.43 3.75 4.06 4.35 4.66 6.76 7.24 7.74 8.28 9.33 9.79 11.89 13.48 - -
44 3.65 3.98 4.31 4.6 4.93 7.35 7.87 8.42 9.01 10.14 10.73 13.1 14.91 - -
45 3.92 4.3 4.65 4.98 5.32 8.07 8.63 9.23 9.88 11.13 11.84 14.58 16.7 - -
46 4.21 4.61 4.98 5.34 5.71 8.84 9.46 10.13 10.84 12.21 13.05 16.73 - - -
47 4.55 4.97 5.38 5.75 6.15 9.71 10.39 11.12 11.9 13.41 14.41 18.92 - - -
48 5 5.46 5.91 6.33 6.78 10.8 11.56 12.37 13.23 14.91 16.06 21.65 - - -
49 5.46 5.97 6.45 6.91 7.39 11.96 12.8 13.69 14.65 16.5 17.84 24.73 - - -
50 5.95 6.5 7.03 7.52 8.05 12.73 13.62 14.57 15.59 17.56 19.75 28.13 - - -
51 6.44 7.05 7.63 8.16 8.72 13.35 14.28 15.28 16.35 18.41 21.78 - - - -
52 7 7.65 8.28 8.85 9.48 14.15 15.13 16.2 17.33 19.52 24.05 - - - -
53 7.67 8.39 9.08 9.71 10.39 14.86 15.89 17.01 18.19 20.49 26.64 - - - -
54 8.34 9.13 9.87 10.56 11.29 16.19 17.32 18.53 19.84 22.34 29.36 - - - -
55 9.06 9.91 10.71 11.47 12.27 17.09 18.29 19.57 20.94 23.58 32.31 - - - -
56 9.88 10.81 11.69 12.51 13.38 18.09 19.35 20.71 22.16 24.96 - - - - -
57 10.75 11.76 12.71 13.61 14.55 21.31 22.8 24.4 26.11 - - - - - -
58 11.72 12.82 13.87 14.83 15.88 22.86 24.45 26.16 - - - - - - -
59 12.74 13.94 15.08 16.13 17.25 25.37 27.14 - - - - - - - -
60 13.79 15.08 16.31 17.46 18.67 26.03 - - - - - - - - -
61 14.9 16.3 17.63 18.87 20.19 - - - - - - - - - -
62 16.07 17.57 19.01 20.34 - - - - - - - - - - -
63 17.26 18.88 20.42 - - - - - - - - - - - -
64 18.32 20.05 - - - - - - - - - - - - -
65 19.06 - - - - - - - - - - - - - -
  • Rates per 100 of Base Premium per annum
  • The above mentioned rates are for Male life. Three years set back for female lives.
  • Rates mentioned here are exclusive of service tax.

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