LIC Accident Benefit Rider

Riders in insurance are meant to provide extra coverage on top of the base cover of your insurance policy. As the name suggests, an accidental death benefit rider is one that specifically protects against death arising out of an accident. LIC offers this benefit as an add-on with most of its life insurance policies. Read along to know more about this.

Read more
LIC, Policybazaar join hands to
accelerate insurance growth
LIC investment
  • Buy LIC policy online
    hassle free

  • Guaranteed maturity with life
    cover for securing family's future

  • Tax saving under Sec 80C &

  • Sovereign guarantee as per
    Sec 37 of LIC Act

Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans", you agree to our Privacy Policy and Terms of Use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

Accidents have become one of the leading causes of death across the world. These are contingencies that no one is prepared for. The death of a loved one along with the subsequent loss of income creates an emotional and financial toll on the surviving family of the deceased. The LIC Accidental Death Benefit Rider is designed to mitigate the financial aspect of it, ensuring that the grieving family is well-taken care of despite the loss.  

What Is The LIC's Accident Benefit Rider?

It is an added benefit that offers extra financial compensation for the death of the life assured due to an accident. LIC defines an accident as a sudden, unforeseen, and involuntary event that is caused by external, visible, and violent means. Nominees of the deceased policyholder can claim the death benefit under the base insurance policy along with the rider sum assured under this accidental death benefit add-on if: 

  • The policyholder has an insurance policy in force to which this rider is attached, and 

  • Death due to the accident must have occurred within 180 days from the date of the accident. 

LIC’s Accident Benefit Rider - Additional Eligibility Criteria 

Criteria Minimum Maximum
Entry Age 18 years 65 years
Maximum Maturity Age 70 years
Rider Term Earlier of the premium paying term of the base policy, or 70 minus entry age

Coverage Under LIC's Accident Benefit Rider

LIC’s accident benefit rider pays out the rider sum assured along with the sum assured on death if the death of the life assured occurs due to an accident. The sum assured under this rider is subject to a minimum and a maximum limit. 

LIC’s Accident Benefit Rider - Sum Assured Criteria 

Minimum Sum Assured Rs. 2 Lakhs
Maximum Sum Assured For LIC’s Jeevan Shiromani Rs. 2 Crores
For plans except Jeevan Shiromani Rs. 1 Crore

Note that the rider sum assured cannot exceed the basic sum assured under the insurance policy with which the rider is attached. 

LIC’s Accident Benefit Rider - Premium Rate

The premium rate for the LIC’s accident benefit rider is affordable at a rate of Rs. 0.5 per Rs. 1,000 of the rider sum assured. The rate is higher by Rs. 0.5 for people engaged in policy, military, and naval duty given the nature of their jobs and the risks involved therewith. 

Exclusions Under LIC's Accident Benefit Rider

The rider sum assured shall not be paid to the policyholders if death occurs as a result of:

  • self-injury, attempted suicide, insanity, or under the influence of liquor, drug, or narcotics 

  • taking part in riots, civil commotion, rebellion, war, adventure sports, etc. 

  • death occurring after 180 days from the date of the accident

Summing Up!

The LIC Accidental Death Benefit Rider is an optional benefit that can be availed by paying an extra premium in addition to that of the base policy. Another alternative to this rider is the LIC’s Accidental Death and Disability Benefit Rider which also offers protection against any disability arising out of an accident. With the affordable premiums and the comprehensive coverage offered by these riders, you have the potential to secure enough funds for your family to survive in your absence.

LIC of India articles

Recent Articles
Popular Articles
LIC New Pension Plus Plan

21 Sep 2022

LIC New Pension Plus Plan The LIC New Pension Plus Plan is the...
Read more
LIC Linked Accidental Death Benefit Rider

06 Sep 2022

LIC Linked Accidental Death Benefit Rider LIC riders are an...
Read more
Is LIC Maturity Amount Taxable?

30 Aug 2022

Is LIC Maturity Amount Taxable? The maturity amount is the sum LIC...
Read more
LIC New Endowment Plan 914 Bonus Rate

26 Aug 2022

This is one of LIC’s insurance cum savings plans that offer...
Read more
What Is Survival Benefit in LIC?

22 Aug 2022

LIC survival benefits come with money-back plans. As the name...
Read more
Surrendering LIC Policy Before Maturity Time: Your Guide!
The Life Insurance Corporation of India is one of the most prominent insurance companies. It has an unparalleled...
Read more
12,000 Monthly Pension On One-Time Investment: Buy LIC Saral Pension Scheme
LIC Saral Pension Yojana make sure that investors get 12,000 monthly by paying a single premium. Life Insurance...
Read more
How to Check the Maturity Amount of LIC Policies?
Life Insurance Corporation of India is one of the leading public companies in the service of insurance plans. And...
Read more
LIC Jeevan Saral (With-Profit) Maturity Calculator
LIC Jeevan Saral has been withdrawn by LIC and is therefore not available for sale anymore. It is an endowment...
Read more
LIC Policy for Girl Child in India
A child insurance plan is a plan that acts as a blend of investment and savings while also providing the child...
Read more

Download the Policybazaar app
to manage all your insurance needs.