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
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)
The rider sum assured cannot exceed your base policy sum assured.
No. This rider is available only as an add-on to LIC’s base policies.
Some versions include disability benefit in addition to death benefit. Check policy terms before purchasing.
The calculator provides an instant estimate based on your age, base sum assured, and rider amount.
Not all. Availability depends on the specific LIC plan. Always verify before adding.