LIC’s Accidental Death and Disability Benefit Rider is a non-linked rider that provides financial compensation in case of an accident leading to permanent disability or death of the insured. This rider is offered as an add-on benefit to a base life insurance plan.

Key features:

• Benefits:

  • In case of disability:

    • Pays the Accident Benefit Sum Assured in equal monthly installments spread over 10 years.

    • Waives future premiums for the base policy and rider, to the extent of the Accident Benefit Sum Assured.

  • In case of death: Pays the Accident Benefit Sum Assured.

• Eligibility:

  • Minimum Accident Benefit Sum Assured: ₹10,000

  • Maximum Accident Benefit Sum Assured: Varies based on the base plan, with the maximum aggregate limit being ₹200 lakhs across all policies, including a minimum of ₹100 lakhs under LIC’s Jeevan Shiromani.

  • Minimum entry age: 18 years

  • Maximum entry age: 70 years

  • Policy term: The policy term is the same as the base plan or (70 – age at entry) years, whichever is earlier.

• Premium Rate: ₹1.00 per annum per thousand Accident Benefit Sum Assured for regular premium policies, with higher rates for those engaged in police duty. The premium rates for single premium and limited premium policies vary based on the policy term and whether the insured is engaged in police duty.

• Paid-up Value: This rider does not acquire any paid-up value.

• Surrender Value: No surrender value is available.

• Exclusions:

  • Intentional self-injury, suicide, insanity, or death under the influence of alcohol or drugs.

  • Aviation accidents, except as a fare-paying passenger.

  • Riots, civil commotion, war, hunting, mountaineering, racing, and adventurous sports.

  • Breach of law with criminal intent.

  • Death occurring after 180 days from the date of the accident.