Accelerated Critical Illness Benefit definition
Accelerated Critical Illness Benefit means an amount that is payable on the first time Diagnosis of a specified Critical Illness provided the Policy is in force and the Life Insured has been Diagnosed with Critical Illness after a period of 90 (Ninety) days from the Date of Commencement of Risk (“Waiting Period”) leading to an acceleration of Death Benefit upon the occurrence of a Critical Illness with the remaining Death Benefit payable on death. We shall pay the Accelerated Critical Illness Benefit as chosen by You, in a lump sum irrespective of the Death Benefit Option selected. Except as stated in Annexure 4, the Accelerated Critical Illness Benefit is payable only once during the CI Benefit Cover Period. No Accelerated Critical Illness Benefit will be payable if any claim occurs within the Waiting Period or any signs or symptoms related to Critical Illness has occurred during the Waiting Period.
Accelerated Critical Illness Benefit means an amount that is payable on the first time Diagnosis of a specified Critical Illness provided the Policy is in force and the Member has been Diagnosed with Critical Illness after a period of 90 (Ninety) days from the Effective Date of Coverage or date of Revival, whichever is later (“Waiting Period”) leading to an acceleration of death benefit upon the occurrence of a Critical Illness with the remaining death benefit payable on death. We shall pay the Accelerated Critical Illness Benefit, in a lump sum.No Accelerated Critical Illness Benefit will be payable if any claim occurs within the Waiting Period or if Critical Illness has occurred/Diagnosed during the Waiting Period and the Accelerated Critical Illness Benefit will terminate and We shall refund the Premium without interest paid corresponding to the Accelerated Critical Illness Benefit. The Waiting Period shall be applicable for new group or to new members of the existing group. In case of renewal, the Waiting Period shall not apply to those Members who have already completed their Waiting Period fully.
Accelerated Critical Illness Benefit means an amount that is payable on the first time Diagnosis of a specified Critical Illness (as mentioned in the Table below) during the lifetime of the Life Insured, provided the Policy is in force and the Life Insured has been Diagnosed with Critical Illness after a period of 90 (Ninety) days from the Date of Commencement of Risk or Date of Issuance of Policy or date of Revival of the Policy, whichever is later (“Waiting Period”) leading to an acceleration of death benefit upon the occurrence of a Critical Illness with the remaining death benefit payable on death, as per the Death Benefit Variant chosen by You. We shall pay the Accelerated Critical Illness Benefit as per the option chosen by You, in a lump sum irrespective of the Death Benefit Variant selected.
More Definitions of Accelerated Critical Illness Benefit
Accelerated Critical Illness Benefit means the benefit specified in Clause 6.3.