This is an optional benefit, available only with Life Option provided the policy has been underwritten on standard terms. This option has to be selected by the policyholder at the inception of the policy. All future premiums shall be waived if the Life Assured is diagnosed with any of the listed 40 Critical Illnesses or total permanent disability due to accident. An additional premium will be charged for this benefit. If Joint Life Option is chosen along with this option, then WOP is applicable only on the primary life assured.
In case of critical illness, a waiting period of 180 days will be applicable.
The critical illnesses covered under this plan -
Critical Illness
1 Cancer of specified severity
2 Open Chest CABG
3 Kidney Failure requiring regular dialysis
4 Permanent paralyses of limbs
5 Primary (Idiopathic) Pulmonary Hypertension
6 Myocardial Infarction (First Heart Attack of Specific Severity)
7 Stroke Resulting in Permanent Symptoms
8 Major organ / bone marrow transplant
9 Multiple Sclerosis with persisting symptoms
10 Surgery to Aorta
11 Apallic Syndrome
12 Benign Brain Tumour
13 Coma of specified severity
14 End Stage Liver Failure
15 End Stage Lung Failure
16 Open Heart Replacement or Repair of Heart Valves
17 Loss of Limbs
18 Blindness
19 Third degree Burns
20 Major Head Trauma
21 Loss of Independent Existence
22 Cardiomyopathy
23 Brain Surgery
24 Alzheimer’s Disease
25 Motor Neurone Disease with permanent symptoms
26 Muscular Dystrophy
27 Parkinson’s Disease
28 Deafness
29 Loss of Speech
30 Medullary Cystic Disease
31 Systemic Lupus Erythematosus
32 Aplastic Anemia
33 Poliomyelitis
34 Bacterial Meningitis
35 Encephalitis
36 Progressive Supra nuclear Palsy
37 Severe Rheumatoid Arthritis
38 Creutzfeldt – Jakob Disease
39 Fulminant Viral Hepatitis
40 Pneumonectomy
The premium rates for this option are guaranteed for five years only from the date of commencement of the policy. The company reserves the right to carry out a general review of the experience from time to time and change the premium as a result of such review on approval of the IRDAI. The company will give notice in writing about the change and the insured person will have the option not to pay an increased premium.