LIC Accident Benefit Rider Premium Calculator | Tax, Sum-Assured, Death & Maturity Benefits

Over 1.5 lakh people are killed in traffic accidents in India each year (Ministry of Road Transport & Highways, 2024 report). Basic life insurance offers protection, but in the event of an unintentional death or disability, it might not always be sufficient. The LIC Accident Benefit Rider (ABR) can help with that.

By providing an extra payout on top of the sum assured by your base LIC policy, this rider gives your family additional financial security.

To quickly estimate your premium and benefit amount, use our Accident Benefit Rider Calculator.

LIC Accident Benefit Rider

Rider UIN: 512B203V03 – An Individual, Non-Linked, Life Rider

Current Age Min: 18, Max to Opt: 64. (Entry up to 65 NB).

Base Policy Sum Assured (₹) Sum Assured of the main life insurance plan.

Accident Benefit Sum Assured (ABSA) (₹) Min ₹20,000 (Multiples of ₹5,000). Cannot exceed Base Policy SA. Max cap for other plans approx ₹1,00,00,000.

Base Policy Outstanding PPT Min 5 years outstanding PPT required. Rider Term: Min(Outstanding PPT, (70 – Age at Entry)).

Premium Payment Mode Rider premium follows base policy mode.

Rider Premium Options

Click on a premium option to see its details.

GST: Rider Premiums shown are inclusive of 18% GST (assumed rate). Base rider premiums are exclusive of GST. Actual GST is as per prevailing rates.

IMPORTANT NOTE ON PREMIUM CALCULATION:
The Annual Rider Premium is calculated using the rate of ₹0.50 per ₹1,000 Accident Benefit Sum Assured per year (as per Rider Sales Brochure point 3).
Modal premiums (Half-Yearly, Quarterly, Monthly) are derived from this Annual Premium using assumed standard modal loadings (e.g., 2% for HLY, 3% for QLY, 4% for MLY extra on annual premium), as specific modal loadings for this rider are not provided in the brochure.
A higher rate (e.g., ₹1.00 per ₹1,000 ABSA) may apply for Life Assured engaged in police duty if opted. This calculator uses the standard rate. Actual premiums from LIC may also vary based on full underwriting and occupational classification. CONSULT LIC FOR EXACT PREMIUMS.

Rider Benefit (On Accidental Death)

If the Life Assured’s death occurs due to an accident (as defined) while this Rider is in-force, and such death happens within 180 days of the accident, an amount equal to the Accident Benefit Sum Assured selected will be payable.

No Maturity Benefit is payable under this Rider. This Rider does not acquire any paid-up value or surrender value.

Plan Summary

▼

Eligibility & Terms (as per Sales Brochure):

Minimum Entry Age: 18 years (completed).
Maximum Entry Age: 65 years (nearest birthday).
(Note: Rider must be opted for before policy anniversary on which age NB is 65 years, i.e., typically at completed age 64 or less).
Rider Cover Ceasing Age: 70 years (nearest birthday).
Minimum Accident Benefit Sum Assured (ABSA): ₹20,000.
ABSA Multiples: ₹5,000.
Maximum ABSA: Cannot exceed Base Policy Sum Assured. Aggregate limits apply:
- For most plans: Max ₹1 Crore.
- With LIC’s Jeevan Shiromani (min ₹1 Crore ABSA under it): Max ₹2 Crore (including Jeevan Shiromani’s ABSA).
- Overall individual cap from all policies: ₹2 Crore.
Rider Term: Min(Outstanding PPT of Base Plan, (70 – Age at Entry Nearest Birthday) years).
Premium Paying Term for Rider: Same as Rider Term.
Outstanding PPT of Base Policy (and Rider) must be at least 5 years at the time of opting.

Premium Rate (Standard):

₹0.50 per ₹1,000 Accident Benefit Sum Assured per annum.
(A higher rate of ₹1.00 per ₹1,000 ABSA applies if opted for cover during police duty).

General Conditions:

This is an optional rider. Rider premium is payable along with the base policy premium and for the same mode.
Rider coverage is contingent upon the base policy being in force. Does not acquire paid-up or surrender value.

Exclusions (Summary):

Benefits are not payable for accidental death due to: intentional self-injury, attempted suicide, insanity, immorality, influence of intoxicating liquor/narcotics (unless prescribed), riots, civil commotion, rebellion, war, invasion, hunting, mountaineering, steeple chasing, racing, paragliding, parachuting, adventurous sports, criminal acts, employment in armed forces (exceptions apply), police duty (exceptions apply if specific cover opted), or if death occurs after 180 days from accident date.

Download Brochure

How to Use the LIC Accident Benefit Rider Calculator

Visit the Calculator: Head over to liccalculatorpremium.com.
Enter Policy Details:
- Your Age
- Base Policy Sum Assured
- Desired Accident Benefit Sum Assured (ABSA)
Review Results: Instantly see your estimated premium and expected benefit.

Simple, fast, and accurate.

Key Highlights of the Rider

Extra Protection: Offers a higher payout in the event that an accident claims the insured’s life.
Select the rider sum assured (subject to LIC limits) for flexible coverage.
Both accidental death and, in certain variations, accidental disability are covered by linked and non-linked options.
Benefit for Nominee: Your nominee will receive 100% of the rider sum assured.

Real-World Example

Let’s take an example to understand better:

Age of Policyholder: 30 years
Base Policy Sum Assured: ₹10,00,000
Accident Benefit Rider (ABSA): ₹10,00,000

₹10,00,000 is paid (base sum assured) if the policyholder passes away from natural causes.
The policyholder will receive ₹20,00,000 (base + rider benefit) if they pass away in an accident.

This means the rider doubles the protection for your family at a nominal extra premium.

Expert Opinion

“Accident Benefit Riders are often overlooked, but in India, where accidental deaths are disproportionately high, this small add-on can create a big financial safety net for families. Every young policyholder should consider it.”
— Dr. Rajesh Mehra, Insurance & Risk Management Expert

Frequently Asked Questions (FAQs)

What is the maximum Accident Benefit Sum Assured I can take?

The rider sum assured cannot exceed your base policy sum assured.

Can I buy the Accident Benefit Rider without a base policy?

No. This rider is available only as an add-on to LIC’s base policies.

Does the rider cover accidental disability?

Some versions include disability benefit in addition to death benefit. Check policy terms before purchasing.

How much extra premium will I pay?

The calculator provides an instant estimate based on your age, base sum assured, and rider amount.

Is this rider available for all LIC policies?

Not all. Availability depends on the specific LIC plan. Always verify before adding.