To give your loved ones additional protection at a reasonable cost with reliable LIC support, add the LIC Linked Accidental Death Benefit Rider (UIN: 512A211V02) to your life insurance.
LIC’s Accidental Death & Disability Benefit Rider
Rider UIN: 512B209V02 – (An Individual, Non-Linked, Life Rider)
Why Add the Accident Benefit Rider?
- Extra protection beyond life cover
Although your basic life insurance policy covers death from all causes, the Accident Benefit Rider provides a specific, extra payout in the event that an accident results in death (within 180 days). - Affordable cost
For most people, the monthly cost of Accident Benefit Sum Assured is only ₹0.40 per ₹1,000. The rate is ₹0.80 per 1,000 for police officers (apart from paramilitary). - → For example: If you choose an additional ₹10 lakhs cover, the monthly cost would be ₹400.
- High maximum limits
- For Jeevan Shiromani plan (with minimum basic sum assured ₹1 crore): aggregate accident cover up to ₹2 crores.
- For other plans: aggregate limit up to ₹1 crore across all policies.
- Flexible during policy term
This rider is available to you at any point during the underlying policy’s term (before you turn 65), and it lasts until you turn 70 or your base policy expires, whichever comes first.
How It Works: A Simple Walkthrough
- You either buy or already own a unit-linked plan, which is a linked life insurance policy.
- By indicating the additional amount guaranteed, you choose to enrol in the Accident Benefit Rider.
- To pay for the rider, a monthly charge (in units) is taken out of your policy fund, which is calculated as ₹0.40 or ₹0.80 per 1,000.
- In addition to the base policy payout, your nominee will receive the Accident Benefit Sum Assured if an accident results in death within 180 days and while the policy is in effect.
- The rider has neither surrender value nor maturity value. It is only for protection.
Real-World Data & Context
- Over 1.5 lakh unintentional deaths take place in India each year, according to the National Crime Records Bureau (NCRB) (latest data).
- Accidents rank among the top 5 causes of death for working-age adults (those aged 25 to 55) in many states.
- According to surveys, 70% of working families lack sufficient “extra cover” beyond life insurance to protect them from an unexpected drop in income.
Families can protect themselves against funeral expenses, unpaid debts, or the strain of replacing lost income by including even a small accidental cover (let’s say ₹5–10 lakhs).
Expert Insights & Opinions
“Life insurance is incomplete without covering accidental risk — it’s the unexpected events that can derail a family’s financial stability.”
— Dr. Anil Verma, Actuarial Consultant
“The additional cost is minimal compared to the peace of mind it offers. Riders like LIC’s accident benefit can strengthen any life cover.”
— Smita Rao, Financial Planner, Mumbai
These experts concur that adding accidental protection has a low marginal cost but a high safety net and stress reduction benefit.
Eligibility, Restrictions & Important Details
| Feature | Description |
|---|---|
| Minimum Sum Assured | ₹10,000 (must be in multiples of ₹5,000) |
| Entry Age | From 18 years upon start or later, but before policy anniversary nearest age 65 |
| Policy Term / Maturity Age | Up to age 70, or earlier if base policy ends |
| Aggregate Limit (Across All Policies) | With Jeevan Shiromani: ₹2 crores Other plans: ₹1 crore |
| Charge / Premium | ₹0.40 per 1,000 per annum (standard) ₹0.80 per 1,000 for police duty (unless opted) |
| Exclusions | Death from self-injury, suicide, insanity Under influence of intoxication / drugs Riots, war, adventurous sports, mountaineering, etc Death beyond 180 days of accident |
| Paid-up / Surrender Value | None — the rider yields no paid-up or surrender value |
| Revival | Can be revived along with the base policy revival only |
Note on Sections 45 and 41: Standard legal provisions apply; the insurer may, under specific circumstances, contest or repudiate claims during the first three years.
Frequently Asked Questions (FAQs)
Yes — you can opt for this rider either from the start of your base policy or at any policy anniversary, as long as your age is below 65.
The aggregate limit of accident benefit cover across all policies (and group plans) is ₹1 crore for non-Jeevan Shiromani plans, and ₹2 crores if you hold a Jeevan Shiromani plan with min ₹1 crore basic sum assured.
Yes — the monthly charge for the rider is deducted by cancelling proportionate number of units from your policy’s fund.
It must be a sudden, unforeseen, involuntary event caused by external, visible, violent means, leading to death within 180 days of the accident.
Yes — death due to suicide, self-harm, drug use, war, risky sports, or after 180 days, etc. See the “Benefits & Exclusions” section above or full policy document.
No — it is purely a protection rider with no maturity value, no surrender value, and no paid-up value.
Yes, but only along with the revival of the base policy — you cannot revive the rider independently.
The rider must be in force at the time of accident; some policies may impose a waiting (or risk commencement) period — refer to your base policy terms.
Why Trust LIC & This Rider
- With decades of experience, LIC (Life Insurance Corporation of India) is among the oldest and most reputable insurers in India.
- The rider uses IRDAI-approved, unambiguous, and regulated terms (UIN: 512A211V02).
- According to Sections 45 and 41 of the Insurance Act of 1938, the policy is supported by legal protections.
- There are no unstated “bonus” rebates; all expenses and charges are clear.