Premiums paid for AEGON Religare Critical Illness Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961. Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. On reinstatement, all outstanding premiums, without interest will be payable. If the Policyholder fails to reinstate a policy within this two year period from the premium due date, the policy will terminate. If premium are not paid before the expiry of the 30 day grace period from the premium due date, the policy will lapse. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated. You are allowed to pay premiums within 30 days from the due date. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered. In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Half Yearly: 0.512 times annual premium Quarterly: 0.259 time annual premium Monthly (through ECS only): 0.087 time annual premiumĬover remains fixed for the tenure of the policy Premium Factor (multiply with annual premium) Single, Yearly, Half-yearly, Quarterly, Monthly (via ECS only) The benefit of low cost to insurance company is transferred to policyholders as low premium rates. The online policy helps saving costs, which otherwise would have to be paid to intermediaries. The rider to waive premium is valuable in this policy. The policy can be taken by anyone who can access the internet and make online payments.Ī term plan can be taken to cover against the irreversible loss of life of a breadwinner. This low cost policy is suitable for those looking for a high value cover. Accidental Death rider does not cover accidental disability which is a more tough situation with no income and heavy medical expenses. The definition of terminal illness is not easy to understand and may lead to complications at the time of making a claim. The policy covers death due to terrorist attacks. It provides terminal illness benefit to policyholder. The policy is simple to purchase with lower premiums, especially for women. Females can opt for ‘women critical illness rider’ that covers illnesses pertaining to them such as complications at the time of pregnancy and malignant cancer of the female organs. The policy has the scope to enhance protection with three optional riders- accident death benefit, waiver of premium benefit on critical illnesses such as cancer, heart attack, bypass surgery and stroke. A policy with terminal illness rider will stop accepting future premiums on diagnosis and pay the illness benefit.
The balance will be paid to dependents on death. The terminal illness rider, if opted, will pay 25 per cent of the sum assured (with Rs 1 crore limit) on diagnosis of a listed terminal illness. The policyholder's nominees receive death benefit on death of the policyholder. The convenience of buying this policy online, does away with the hassles of going through intermediaries and one can buy the plan at convenience. The policy also has low premium rates, as compared to other term plans of the insurer. In case of any modifications in the policy details at the time of renewal, please contact ourīranch and do not deposit the cheque in Axis Bank Branch.Ĭontact respective ‘Axis Bank branch manager’ in case of any difficulty/issue/clarification related to deposition of renewal premium.This is a pure term plan which can only be bought online. Instrument deposition is not allowed after the policy expiry date. Please ensure to deposit the cheque at least 7 Days prior to the due date. It is advisable to carry a copy of Renewal invite while visiting to Axis Bank branch. Please ensure the cheque amount is equal to the amount mentioned in renewal invite. Postdated/ Outstation/ Third Party cheques are not allowed. Make sure to collect the acknowledgement slip before leaving bank’s service counter for any future correspondence. Instrument should be in favour of "Care Health Insurance Limited" Please mention your Policy(s)number and Contact number on the reverse of cheque. Please visit during banking hours and ask for ‘Easy Pay’ service counters at Axis Bank branch to deposit your premium. Please ensure to keep the following in mind while opting for the same: Walk-in to the nearest Axis Bank branch to pay your Renewal Premium conveniently via Cheque/Demand Draft.
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