What is DAB in LIC?

LIC offers several insurance plans to its growing customer base. Its current product offerings include whole-life plans, term assurance plans, pension schemes, ULIPs, endowment-based policies, money-backs, etc. Apart from these, LIC has introduced several riders that can be added to the base policies for enhanced protection at nominal extra costs. DAB or Double Accident Benefit is one such rider that can be attached to your insurance policies.

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What is DAB in LIC?

DAB in LIC stands for Double Accident Benefit and can be attached to the base policy as a rider. This additional benefit can be purchased to avail of extra financial cover on the death of the policyholder as a result of an accident. In exchange for this cover, the life assured is charged an additional premium amount at a rate of Re.1 per 1000 sum assured. 

Key Features of DAB in LIC

Double accident benefit, as the name suggests, offers the beneficiaries of the policy an amount equal to double the sum assured under the base policy. This amount can be claimed only if the life assured dies in an accident as per the terms defined under the policy and within the rider term. Key aspects of the double accident benefit rider or DAB in LIC are:

  • On the death of the life assured due to an accident, nominees can claim twice the amount of the sum assured. 

  • The additional premium charged is equal to Re.1 per Rs.1000 sum assured. 

  • Death of the life assured should have occurred within 90-180 days from the date of the accident to be eligible to receive the double accident benefit.

  • No benefit shall be payable if death occurs as a result of natural causes, pre-existing medical conditions, etc. 

  • Benefits are not applicable if the death of the life assured occurs as a result of an accident after the end of the policy term. 

Eligibility Criteria to Avail Double Accident Benefit with LIC Policies

Factors Minimum Maximum
Entry Age 18 years 65 years
Maturity Age NA 70 years
Policy Term Earlier of
  • Premium paying term, or 
  • 70 minus Entry Age
Premium Payment Mode Same as the base plan
Sum Assured Rs.2,00,000 Rs.100 Lakhs

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

How to Claim Double Accident Benefit or DAB with LIC?

  • LIC has to be intimated about the death of the life assured within 120 days of death.

  • Proof of death and other required documents are to be submitted after being duly attested by a competent court.

  • Documents are verified and the claim is approved following clearance by the SDM. 

  • Upon approval, the benefit amount is transferred to the beneficiary’s account.

Documents Required to File a Death Claim Under DAB

To claim the benefits under the Double Accident Benefit, the claimant will have to produce evidence satisfying that the accident has occurred as per the conditions defined under the policy. In addition to the usual requirements to file a death claim, you shall be asked to submit the following:

  • FIR

  • Post-mortem report

  • Police investigation report

  • Spot Panchnama

  • Eye-witness statement

Exclusions

Double accident benefit shall not be payable if death occurs under the following conditions:

  • Attempted suicide, self-injury, insanity

  • Under the influence of alcohol or drugs/narcotics

  • Participating in riots, war, civil commotion, etc.

  • Engaging in adventurous sports, mountaineering, steeplechasing, etc.

  • Criminal activity or breach of law

FAQ's

  • Can I claim double accident benefit if the life assured dies after 180 days from the date of the accident?

    Ans. No, to be eligible for double accident benefit, death needs to have occurred within 180 days of the accident. However, if the policy is in force, you can still claim the death benefit amount under the base policy. 
  • What are the documents required to file a death claim?

    Ans. 
    • Claimant’s statement with information on the deceased and nature of her/his death
    • Certified extract from death register
    • Proof of age
    • Original policy bond
    • NEFT mandate
    You may be asked for additional documents if the policyholder dies within 3 years from the date of risk commencement. In the case of accidental deaths, you shall be asked to submit FIR, post-mortem report, police investigation report, spot panchnama, eye-witness statement, etc. 
  • Can I add more than one rider to my base plan?

    Ans. Yes, you can add more than one rider to your base policy. The riders that can be availed are defined under each policy. Most often, these riders have to be added at the time of policy issuance and not after. Further, among the different types of accident benefit riders, you are only allowed to add one of them. 
  • Can my double accident benefits claim be rejected by LIC?

    Ans. Yes, LIC holds the right to reject your double accident benefits claim if the policyholder dies as a result of a suicide attempt, participating in wars, riots, or while engaging in adventurous sports and activities. Further, deaths while being under the influence of alcohol and drugs are excluded. LIC can also reject the double accident benefit rider if death occurs due to natural causes, after the end of the policy term, or after 180 days from the date of the accident.
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