The Free Disability Benefit is automatically available to every policyholder without any extra charge. If the life assured is disabled by accident from earning his livelihood, he will be exempted from paying premiums on his policy after the date of his disablement. The benefit is granted only on the first Rs.20000/- of assurance on any one life.
To be eligible for this benefit, the policy has to be in full force for the full sum assured when the disability occurs. Also the disability must arise before the policy anniversary and the age of the life assured must not exceed 70. Also the disability must be total and permanent such that there is no work, occupation or profession that the life assured can do or follow to earn or obtain any wages, compensation or profit.
Loss of eyesight in both eyes, amputation of any two limbs, hands above the wrist and legs above the ankle will be deemed to constitute total and permanent liability. And LIC must be furnished within 90 days of the occurrence of the disability.
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