LIC’s New Term Assurance Rider (UIN 512B210V02) is a non‑linked, non‑participating pure term rider that adds extra life cover on top of an eligible base plan, at low cost.

What this rider does

• Provides an additional Term Rider Sum Assured that is paid to the nominee if the life assured dies during the rider term, while base policy and rider are in force.
• No benefit is payable on survival to rider‑term end; it is a pure risk cover (no maturity/surrender value).

Eligibility and limits

From LIC’s rider brochure and third‑party summaries (always confirm exact grid from latest LIC PDF for UIN 512B210V02):

• Entry age (life assured):
  • Minimum: 18 years.
  • Maximum: 60 years (nearest birthday).
• Maximum cover‑ceasing age: 75 years (nearest birthday).
• Rider term: 5 to 35 years, subject to cover‑ceasing age 75.
• Term Assurance Rider Sum Assured (Rider SA):
  • Minimum: ₹1,00,000.
  • Maximum: ₹25,00,000, and cannot exceed the Basic Sum Assured of the base policy; overall cap across LIC policies is ₹25 lakh for this rider.
• Premium payment options:
  • Single premium, Regular premium, or Limited premium.
• Premium‑paying term under Limited premium: 5 to 34 years.
• Rider can be attached only at inception of an eligible non‑linked base policy.

Death benefit

If the life assured dies during the rider term while the base policy and rider are in force:

• Death Benefit under rider = Term Rider Sum Assured on Death.

For regular/limited‑pay variants, “Term Rider Sum Assured on Death” is defined as the higher of:

• Term Assurance Rider Sum Assured, or
• 7 times the Annualised Rider Premium, or
• 105% of “Total Rider Premiums Paid” up to date of death (excluding taxes/extra premiums/loadings).

For single‑premium variant, “Term Rider Sum Assured on Death” is the higher of:

• Term Assurance Rider Sum Assured, or
• 1.25 times the Single Rider Premium (excluding taxes/extra premiums).

This rider benefit is paid in addition to the base policy’s death benefit.

Other important points

• Maturity benefit: None; nothing is payable if the life assured survives till the end of rider term.
• Paid‑up / surrender: Rider does not acquire paid‑up value; if base policy lapses or is surrendered, rider terminates as per rules and no surrender value is payable for this rider alone.
• Premium mode, grace, revival, loans, etc.: Follow the base policy’s rules (same mode and due dates as base policy).
• Exclusions: Suicide clause and standard life‑insurance exclusions apply as detailed in the rider document (e.g., if death due to suicide within 12 months, limited refund as per conditions).