Pramerica Life Cancer + Heart Shield

Under this option, Indexed Sum Insured would become payable. Indexed Sum Insured is Base Sum Insured increased by 10% per annum (simple) starting first policy anniversary, for each completed ‘claim free year’. Indexation would only be applicable till date of diagnosis of critical illness or till Indexed Sum Insured reaches 150% of Base Sum Insured. At no point of time Indexed Sum Insured would be different for minor and major stages rather it will become constant after the first claim is made under the policy.

Under this option following benefits are payable:

On diagnosis of critical illness under the policy, Premium would be waived off for next 3 Policy years. This benefit is available only one time during the lifetime of the Policy.

In case a claim is made under both minor and major categories, then the Monthly Income benefit will be paid under each of the categories and can continue to be paid together. In such case Monthly Income under minor will continue to be paid for 6 months, along with the Monthly income payable in case of claim under Major category for 5 Policy years payable monthly.

In case Life Assured dies, after the Monthly income under the plan has started, the Monthly Income Benefit would continue to be paid to Nominee/legal heirs of Life Assured.

Example of Indexation: