Premiums Waiver Rider
This benefit is available along with the Total & Permanent Disability (TPD) Benefit. Where a TPD is granted, all the future premiums falling due (from the following policy anniversary) under the policy are waived by LICI. However, the normal risk cover on the life assured continues till the date of maturity; in case of his or her death before the maturity date the basic sum assured + vested bonuses and all the unpaid instalments of TPD, if any also are payable. On survival of the life assured until the maturity date, the normal maturity value (sum assured + vested bonuses) becomes payable.