LIC Linked Accidental Death Benefit Rider (UIN: 512A211V02)

LIC Linked Accidental Death Benefit rider is an additional Accident cover which can be opted for along with the base ULIP Plans only. This rider is an add-on rider specifically for Unit Linked Insurance Plans only. For all other Plans the LIC Accident Benefit Rider (UIN No: 512B203V03) is available.

 If the Life assured is involved in an accident at any time when this Policy is in force, and the LIC Linked Accidental Death Benefit Rider opted, and such injury shall within 180 days of its occurrence solely, directly and independently of all other causes result in the death of the Life assured, then an additional sum equal to the Accident Benefit Sum Assured under this policy will be paid to the nominee.

This rider will not be available under the policy on the life of minors, during the minority. However, this rider will be available from the policy anniversary following completion of age 18 years on receipt of specific request, if found eligible as per the underwriting rules of LIC.

 DEATH BENEFITS under LIC Linked Accidental Death Benefit Rider:

Sum equal to the Accident Benefit Sum Assured shall be payable.

• If the Life assured is involved in an accident at any time when the LIC’s Linked Accidental Death Benefit Rider is in force for the full Basic Sum Assured, and such injury shall within 180 days of its occurrence solely, directly and independently of all other causes result in the death of the Life Assured and the same is proved to the satisfaction of the LIC of India, a sum equal to the Accident Benefit Sum Assured shall be payable under this Rider

Maturity Benefit:

• No maturity benefit is payable under this Rider.

Charge for LIC Accidental Death and Disability Benefit Rider Premium:

• This charge shall be levied at the beginning of each policy month by canceling appropriate number of units out of the Unit Fund Value.
• A level annual charge shall be at the rate of Rs. 0.40 per thousand Accident Benefit Sum Assured per policy year.
• If the life assured is engaged in police duty in any police organization other than paramilitary forces and opted for this cover while engaged in police duty, then the level annual charge shall be at the rate of Rs 0.80 per thousand Accident Benefit Sum Assured per policy year.
• The monthly charges will be one-twelfth of the annual Accident Benefit Charge.

Conditions and restrictions:

Sr.No.	Particulars	Eligibility Conditions
1	Minimum Entry Age	18 years (completed)
2	Maximum Entry Age	65 years (nearer birthday)
3	Addition of Rider under an in-force	Can be opted for by payment of additional premium at any time within the premium paying term of the Base Policy provided, the outstanding premium paying term of the Base Policy as well as Rider is at least 5 years
4	Rider Term	(70 – age at entry) years
5	Cover Ceasing Age	70 years (nearer birthday)
6	Minimum Sum Assured	Rs 10,000/-
7	Maximum Sum Assured	For LIC Jeevan Shiromani – Rs.200 lakhs (including all other policies of LIC) For all other plans (excluding LIC’s Jeevan Shiromani) – Rs.100 lakhs.

• Under an in-force Base Policy, the policyholder has the option to cancel this rider at any time during the policy term. However, once the rider is canceled, it cannot be re-opted during the policy term.
• In case the base policy is not in force, this rider cover shall terminate and no further charges for this rider shall be deducted.
• The rider may be revived along with the base policy during the revival period but not in isolation.

Exclusions:

• after 180 days from the date of the accident
• intentional self-injury
• attempted suicide
• insanity,  immorality
• whilst the Life Assured is under the influence or consumption of intoxicating liquor, narcotic or drug (unless prescribed by a doctor as a part of treatment)
• injuries resulting from taking any part in riots, civil  commotion, rebellion, war (whether war be  declared or not), invasion, hunting, mountaineering, steeplechasing, racing of any kind, paragliding or parachuting, taking part in adventurous sports
• Result from the Life Assured committing any criminal act with criminal intent.
• Arise from the employment of the Life Assured in the armed forces or military service. This exclusion is not applicable if the Life Assured was involved in an accident when he is not on duty or was involved in any rescue operations while combating natural calamities in our country
• arise from being engaged in police duty (which excludes administrative assignments) in any police organization other than paramilitary forces. This exclusion is not applicable where the option to cover Accidental Death and Disability Benefit arising on accident while engaged in police duty, has been chosen

Other LIC Rider’s Available:

• LIC’s Accident Benefit Rider
• LIC’s New Term Assurance Rider
• LIC’s New Critical Illness Benefit Rider
• LIC’s Premium Waiver Benefit Rider
• LIC’s Linked Accidental Death Benefit Rider
• LIC’s Accidental Death & Disability Benefit Rider