LIC Accidental Death and Disability Benefit (AD & DB) Rider
Accidental Death & Disability Benefit rider is an optional benefit available on payment of additional premium. The rider is like add-on to basic plans like LIC's Jeevan Anand, Jeevan Labh etc. and it provides additional benefit, in case of accidental death or disability due an accident. Accidental death means sudden death, for example; death due to road accident. This rider can only be availed with a basic plan and cannot be purchased separately.
| ELIGIBILITY CONDITIONS | |
|---|---|
| Minimum age at Entry | 18 Years |
| Maximum age at Entry | 65 Years |
| Minimum Sum Assured | Rs. 10,000 |
| Rider Benefit Ceasing Age | 70 Years |
What is accidental death in the rider?
Accidental death means, death caused by sudden event like road accident.
What is accidental disability in the rider?
It is permanent disability caused due to an accident within 6 months from the date of accident. Generally, the permanent disability means, disabled person is not able to perform activities of daily living like wearing clothes, washing and maintenance of personal hygiene, movement from one room to another, eating food without help from others.
Benefit in case of Accidental Death
In case of accidental death, this provides additional amount equal to sum assured of this rider, which generally equal to basic sum assured of the base plan.
Benefit in case of Accidental Disability
Following benefits becomes available in case of accidental disability:
- Further premiums of rider as well as base plan, are not required to be paid by the policyholder.
- Rider Sum assured is converted into equal monthly installment for 10 years period and paid to the policy holder on monthly basis.
- Death claim or maturity claim of the base plan is also paid as a normal policy.
Can the Accidental Death & Disability Benefit rider can be added later?
Yes, it can be added, if remaining term of the base plan is at least 5 years.
In case of further clarifications regarding this rider, please write your query in the comment box.
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