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In case cases where a medical condition or impairment in an applicant has

been recently detected and would entail the applicant to go in for long span of
medical treatment, the underwriter may defer or postpone a decision for a

period ranging from 3 months to 3 "ears depending upon the severity of the
condition.

d) Declinature of risk

In certain cases which constitute a small number, the applicant will be very
highly substandard to such an extent, that this extra risk may either remain

constant or even get worse. In such cases, even postponement of risk will not
help taking care of extra risks. These cases will be declined.

3. Learn about riders.

3.1 Riders

Riders affect the amount of life insurance premium that is payable by the
policyholder.

3.2 Features of riders

 Riders can be added either at the commencement of the policy or from

period coinciding with the policy anniversaries of the contract.
 Riders also need to be underwritten like the base cover and can have
decisions ranging from standard premium, extra premium or decline.
 Certain riders can be added only at the commencement of the policy

contract.

3.3 Types of riders

The common form of riders that are offered by the life insurance companies
are:

 Waiver of premium (WoP) rider or Premium Waiver Benefit Rider (PWB)
 Accidental dental death benefit (ADB) rider
 Total Permanent disability benefit rider (TPD)
 Term rider

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