To improve coverage and stability, you can add any of the many rider options offered by Life Insurance Corporation of India (LIC) to your base policy. These riders are designed to fulfil specific standards, ensuring total protection for you and your loved ones.
| LIC Accident Benefit Rider | LIC Linked Accidental Death Benefit Rider |
| LIC New Term Assurance Rider | LIC Accidental Death and Disability Benefit Rider |
| LIC Premium Waiver Benefit Rider |
Explore LIC Rider Policy Plans
LIC offers a number of rider choices, each of which addresses distinct life and health risks:
- Accident Benefit Rider
Offers an extra amount guaranteed in the event of an unintentional death. accessible to anyone between the ages of 18 and 64. The accident benefit sum assured cannot exceed the base policy sum assured and must be in multiples of ₹5,000, with a minimum of ₹20,000. The minimum of the remaining premium-paying term or (70 – age at entry) is the rider term. - Premium Waiver Benefit Rider
Ensures that the policy remains in effect without causing further financial strain by waiving future premiums in the event of the policyholder’s critical illness or disability. - Accidental Death and Disability Benefit Rider
Provides a lump sum payout to the policyholder or nominee in the event of an untimely death or permanent disability. - New Term Assurance Rider
Ensures financial protection against premature death during the policy term by offering pure risk coverage for a predetermined period of time. - Linked Accidental Death Benefit Rider
This extension of the base policy offers additional coverage related to the sum assured in the event of accidental death. - Critical Illness Rider
Provides a lump sum payment upon the diagnosis of specific serious illnesses, helping to pay for treatment-related medical costs.
Real-World Example: Understanding Rider Benefits
Scenario: A 30-year-old non-smoker male opts for a base policy with a sum assured of ₹50 lakh and adds the Accident Benefit Rider.
- Base Policy Premium: ₹10,000 annually
- Accident Benefit Rider Premium: ₹2,000 annually
- Total Annual Premium: ₹12,000
Outcome: In case of accidental death, the nominee receives ₹50 lakh from the base policy plus an additional ₹50 lakh from the rider, totaling ₹1 crore.
How to Use the LIC Rider Policy Plans Calculator
Utilize the LIC Rider Policy Plans Calculator to estimate premiums and benefits:
- Select Rider Type: Choose the rider you wish to add to your base policy.
- Enter Personal Details: Provide your age, gender, and health status.
- Input Policy Details: Enter the sum assured and policy term of your base policy.
- Calculate: Obtain an estimate of the additional premium and the total coverage amount.
Frequently Asked Questions (FAQs)
Yes, the calculator provides estimates based on official LIC guidelines and updated regularly.
Yes, you can add multiple riders, but the total sum assured from all riders cannot exceed the base policy’s sum assured.
Yes, adding riders increases the overall premium, but they provide additional coverage tailored to specific needs.
Riders can be added at the time of policy issuance or during policy renewals, subject to underwriting norms.
Expert Opinion
“Integrating riders into your LIC policy is a strategic move to enhance coverage without the need for separate policies. Riders like the Accident Benefit and Critical Illness Rider provide targeted protection against unforeseen events, ensuring financial stability during challenging times.”
— Financial Advisor, LIC India
Tailored Protection for Every Need
LIC’s rider options offer flexible and comprehensive coverage, allowing policyholders to customize their insurance plans according to personal requirements. By understanding and utilizing these riders effectively, you can ensure robust financial protection for yourself and your family.
Ready to Enhance Your Coverage?
Explore the LIC Rider Policy Plans Calculator today and take the first step towards a secure future.