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EXHIBIT 1A(5)(b)
PEOPLES BENEFIT LIFE INSURANCE COMPANY
Home Office located at: 4333 Edgewood Road N.E., Cedar Rapids, Iowa 52499
A Stock Company
(Hereafter called the Company, we, our or us)
(800)866-6007
WAIVER OF MONTHLY DEDUCTION RIDER
This extra benefit rider, attached to and made a part of the policy, provides as
described below, waiver of monthly deduction in the event of total and permanent
disability of the Insured.
We agree to waive payment of Monthly Deductions for the policy when we receive
proof of the following:
1. That the Insured is totally and permanently disabled.
2. That the disability began while this rider was in force.
3. That the disability has lasted continuously for at least six months during
the Insured's lifetime.
4. That the disability commenced prior to the policy anniversary following the
Insured's 60th birthday.
WAIVER OF MONTHLY DEDUCTION
We will waive the Monthly Deduction, as described in the Policy, if the Primary
Insured suffers six months of continuous Total Disability due to Injury or
Sickness.
We will return to the Policy Value all Monthly Deductions since the start of the
Total Disability.
On each Monthly Anniversary thereafter we will waive the Monthly Deduction for
as long as Total Disability continues.
No Monthly Deductions will be waived for periods of Total Disability during
which you are not under the normal and customary care of a physician. No Monthly
Deductions will be waived after Total Disability ceases. You have an obligation
to inform us immediately when the Insured's Total Disability ceases, the Insured
returns to work, or the Insured is not under the normal and customary care of a
physician.
Separate periods of Total Disability beginning while this benefit is in force
will be considered as one continuous disability period unless such separate
periods are:
1. due to unrelated causes; or
2. due to same or related causes, but are separated by at least six months
during which the Insured has returned to work.
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POLICY BENEFITS CONTINUE
Benefits under the policy will be the same as if the monthly deductions waived
had been paid in cash. This rider will not affect the Nonforfeiture Options or
the Table of Guaranteed Values in the policy, if any.
DEFINITION OF TOTAL AND PERMANENT DISABILITY
Disability shall be considered to be total when the Insured is unable to
gainfully perform the major duties of his or her regular occupation.
During the first two years of disability, occupation means the Insured's
occupation at the time disability began. The Insured's occupation includes
attending school or college as a full time student.
After the first two years of disability, occupation means any occupation for
which the Insured is reasonably suited by education, training, or experience.
Such Total Disability shall be presumed to be permanent (but only for the
purpose of determining the commencement of liability hereunder) when it is
present and has existed continuously for not less than six consecutive months.
If the Total Disability begins while the Insured is retired or temporarily
unemployed, the word "occupation" means the last regular occupation at which the
Insured was gainfully employed on a full time basis before the injury or
sickness started.
PRESUMED DISABILITIES
We will consider the total and permanent loss of any of the following as a Total
and Permanent Disability even though the Insured engages in an occupation:
1. The sight of both eyes.
2. The use of both hands or feet.
3. The use of one hand and one foot.
NOTICE AND PROOF
Before we waive any monthly deduction, we must receive at our home office
written notice and due proof of the Total and Permanent Disability. The notice
and proof must reach us:
1. While the Insured is living; and
2. While the Insured is totally and permanently disabled; and
3. Not later than one year after the due date of any monthly deduction that is
to be waived.
However, these time limits will not apply if we are satisfied that notice (or
proof) was given as soon as reasonably possible.
At reasonable intervals, we can require due proof that the Total and Permanent
Disability is continuing. If proof is not given, we will stop waiving monthly
deductions. After the first two years of Total and Permanent Disability, we will
not ordinarily require proof more often than once a year.
As part of due proof, we can require that the Insured be examined by doctors of
our choice at our expense.
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DISABILITIES NOT COVERED
We will not waive Monthly Deductions in the Insured's disability results from:
1. War, declared or undeclared, or
2. Committing or attempting to commit a felonious act; or
3. The Insured's military service for any country at war, or
4. Intentionally self-inflicted injury.
THE CONTRACT
In this rider "policy" means the policy means the policy in which you have
requested that this rider be included. "Page 3" means page 3 of the policy.
This rider is issued in consideration of the application and the premiums
provided. The amount of premium and the premium-paying period for this rider are
shown on page 3.
The Insured is the person shown as the Insured on page 3.
This rider is a part of the policy. All provisions of the policy which are not
inconsistent with the provisions of this rider apply to this rider.
RIDER DATE
Rider months, years and anniversaries are measured from the rider date. The
rider date is the policy date unless a different rider date is shown in the
policy. When used in the rider, "date of issue" means the rider date.
INCONTESTABLITY
This rider is subject to the Incontestability provisions of the policy. However,
the contestable period shall, as far as this rider is concerned, be measured
from the date of issue of this rider.
TERMINATION
This rider will terminate on the earliest of the following dates:
1. Unless the Insured is totally and permanently disabled, the policy
anniversary following the Insured's 60th birthday.
2. The date this rider or the policy lapses for failure to pay a premium.
3. The date the policy becomes paid up, expires, matures as an endowment or
otherwise terminates.
4. The date a Nonforfeiture Option under the policy, if any, becomes effective.
Any premium on the policy falling due on or after the termination of this rider
shall automatically be reduced by the premium for this rider.
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You may terminate this rider by written request.
Termination will not affect any claim which may be made because of Total and
Permanent Disability which began prior to termination.
Signed for us at our home office.
/s/ [SIG] /s/ BART HERBERT JR.
SECRETARY PRESIDENT
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