LIC’s Accident Benefit Rider (UIN 512B203V03) is a non‑linked, non‑participating regular‑premium rider that pays an extra amount if the life assured dies due to an accident within a specified period after the accident.
Nature of rider
- Type: Regular‑premium accidental death rider (not disability), attachable to eligible base plans.
- Purpose: Provide additional lump‑sum compensation to the nominee if death results from an accident, on top of the base plan’s death benefit.
Key benefits
- Accidental death benefit:
- If the life assured is involved in an accident (sudden, unforeseen, involuntary, caused by external, visible and violent means) and dies as a result of that accident within 180 days from the date of accident, the Accident Benefit Sum Assured becomes payable in addition to the base plan’s death benefit.
- Non‑accidental death: Only the base policy’s death benefits apply; the rider does not pay anything in non‑accidental deaths.
Eligibility and basic conditions
(Exact limits must be taken from the current LIC rider brochure attached to the base plan; below are typical parameters from public summaries.)
- Entry age: 18 to 65 years.
- Coverage up to: usually age 70 (rider stops at that age even if base policy continues).
- Rider term and PPT: Same as the base policy’s term and premium‑paying term, subject to the upper age limit for the rider.
- Sum Assured:
- Premium mode: Same premium frequency as base policy; rider premium is paid along with base premium.
Key exclusions (high level)
The rider will not pay the accidental benefit in situations such as (refer to latest rider brochure for exact list):
- Self‑inflicted injury, suicide or attempted suicide.
- Alcohol or drug influence, criminal acts, war/war‑like operations, aviation other than as a fare‑paying passenger, and other standard accident‑exclusion scenarios.