LIC’s Linked Accidental Death Benefit Rider

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LIC’s Connected Accidental Death Benefit Rider

It is a well-known fact that millions of people die in road accidents in India every day. No one can predict how our lives will turn out. No one can say for sure what will happen to us in the next moment, so as a family head we have a responsibility to protect the family. This is one of the many problems that even a family person may face in his life. Having a life insurance policy for that family will not be very helpful to him and his family and he will have to pay more for medical treatment.

What are riders ?

Riders can be very effective when situations like this occur. Riders are add-ons to a vanilla policy. It is said to be a term policy or endowment plan as it is a unit linked plan. They are absolutely optional since they are with insurance policy.

However when joining a policy they are given a fund that is more than the sum insured in the event of an unexpected event at a certain time. In short lines improves and ensures life for an individual.

Benefits of Accidental Death Why Do Riders Benefit ?

Life insurance companies are fulfilling many options that make the most sense and most substantial for the insured person. The policyholder uses the insurance policy for his personal use, for his specific need

Are only being used. The grief of the feeder’s death will only cause his depression. But the death of an accident will put his family in great crisis. Accidental death benefit is the reason for buying the ride Accidents Death is a shock to the insurer because we have an unforeseen event. Therefore this insurance is useful for repairing and coping with the immediate expenses of the family.

LIC’s Connected Accidental Death Benefit Rider

LIC’s added accident benefits not only for the benefit of the insurer but also after death .The individual was involved in an accident while the policy was in effect , he said1 and 80 days later he dies and the policy to increase the amount of money.

Features of LIC’s Connected Accidental Death Benefit Rider

LIC’s Accidental Death Benefit Linked Rider , the policyholder if a specific request is received , the 18 -year-old range , the children’s lives will be lost. The request will be processed only if it is deemed eligible by LIC as per the written rules.

LIC’s Affiliate Accidental Death Benefit Rider can then be added at the beginning of the policy on any policy anniversary. However , it must be near the insured person’s 65th birthday or before the anniversary , which is subject to the rider for at least 5 years. Also , the rider cover is only available until the policy matures or the insurer reaches the age of 70 , whichever is earlier.

When the rider joins the policy , the policyholder can cancel it at any time he wishes. It should be noted that once a ride is stopped it cannot be re-selected for the entire term of the policy.

When the Basic Policy is not active , LIC’s Connected Accidental Death Benefit Rider will be terminated and no fees apply. Although the rider can be revived by the policy , this cannot be done in isolation.

LIC’s Connected Accidental Death Benefit Rider’s Fee

LIC’s Accidental Death Benefit Linked Rider’s price in the beginning of each policy , the policyholder’s fund value charged by cancellation of units from the corresponding number. The annual accident benefit sum assured is Rs.0.40 / thousand rupees is charged. If the individual works in a police force , the annual premium is Rs.0.80 / thousand will be charged.

Exemptions on LIC’s Connected Accidental Death Benefit Rider

In case of death of a person due to the following reasons , accidental death claim may not be accepted:

  • Death was due to spontaneous injury , suicide attempt , depression or alcohol or drug abuse.
  • The death occurred as a result of participating in any adventure sport such as riot , riot , civil riot , steeplechase , invasion or river rafting , mountaineering , parachuting.
  • Death occurs when the insured commits a crime.
  • If the insured dies due to employment in the Armed Forces or the Army.
  • If the death of the insured occurs 180 days after the accident .

How does LIC’s Connected Accidental Death Benefit Rider work ?

With the help of a chart , it will be easy to understand how LIC’s Connected Accidental Death Benefit Rider works.

Suppose Arjun is a 26 year old married man and has two children. His annual income is 3,60,000 rupees. He is 25 million life insurance policy is ,him Rs.10 lakh accident death passenger rides. In an unfortunate accident , Arjun encounters a serious accident. He was admitted to the hospital , but after several weeks of treatment his health did not improve and he died.

More than 5 lakh rupees is admitted to the hospital. Now , when the family seeks the death benefit , they have to pay Rs.25lakh despite the death benefit accidental death benefit rider available the family will receive the sum of Rs.35 lakhs.

Conclusion

LIC’s Accidental Death Benefit Linked Rider is a valuable addition , it can really improve LIC’s any life insurance policy. Aside from the fact that LIC is the most reliable insurance company in the country , Ryder can help you and your family through difficult times.

 

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