Examples of Date of Risk Commencement in a sentence
The premium amount payable under this Rider shall be guaranteed for a period of 5 years from the Date of Risk Commencement of the Rider and may be revised every five years thereafter with prior approval from IRDAI.
In case of death of Life Assured due to suicide within 12 months from the Date of Risk Commencement of the Policy, the Death Benefit shall be equal to the Unit Fund Value as available on the date of intimation of death.
If the Primary Life Assured commits suicide for any reason, while sane or insane, within one year from the Date of Risk Commencement as specified in the Policy Schedule, the Policy shall be treated as null and void, no benefit shall be payable under the Policy and all the premiums paid on the Policy shall stand forfeited to the Company.
Waiting Period- A waiting period of 90 days will be applicable from the Date of Risk Commencement of this Rider.
Further, the Rider Premium Payment Term shall not be greater than the outstanding Premium Payment Term of the base Policy.The premium amount payable under this Rider shall be guaranteed for a period of 5 years from the Date of Risk Commencement of the Rider and may be revised every five years thereafter with prior approval from IRDAI.
Exclusions(1) Suicide claim provisionsIn case of death of Life Assured due to suicide within 12 months from the Date of Risk Commencement of the Policy, the Death Benefit shall be equal to 80% of the Premiums paid provided the Policy is in-force.
If the Life Assured commits suicide for any reason, while sane or insane, within one year from the Date of Risk Commencement as shown in the Schedule, the Policy shall be treated as null and void, no benefit shall be payable under the Policy and all the premiums paid on the Policy shall stand forfeited to the Company.
Where such comments were received, they have been duly taken into account in finalising this report.
If the Life Assured (whether sane or insane) commits suicide within one year of the Date of Risk Commencement or revival of the Plan.
A waiting period of 1 year is applicable from the Date of Risk Commencement or Date of Revival, whichever is later, in respect of the benefits under this Event Group 1.