Accidental Safety Net: Your Multifaceted Coverage

Accidents are the most unfortunate incidents that can happen to anyone. Moreover, accidents are one of the leading contributors to the global mortality rate. Nobody is prepared for these kinds of incidents in life. The death of loved ones along with the loss of income creates emotional and financial burdens on the surviving ones.

The accidental death benefit rider and accidental disability rider are a perfect safeguard for you and your family. Let us understand what is it about!

What is Accident Rider?

Accidental rider, also known as accidental death benefit rider, is an additional feature that can be added to the life insurance policy to give extra financial protection if the insured dies due to an accident.

Features of Accidental Benefits Rider

How does Accidental Death Rider work?

Any injury that results in death due to an accident of the policyholder is known as a case of accidental death. Let us understand this with an example

Ramesh is a 35-year-old man, and is married also has a child. He has a life insurance policy of Rs 50 Lakh. He added an Accidental death rider of Rs 20 lakh to his insurance policy. After a few years, Ramesh and his family met with an accident and died, but his wife and child survived. His wife went for the claim and received Rs 70 Lakh. So, without the term insurance rider, Ramesh's family would have got only Rs 50 lakh.

Inclusions

Exclusion

What is the Eligibility Criteria?

Accidental Benefit Rider is accessible to individuals who hold a basic life insurance policy. The coverage period aligns with the main terms of the policy's term or endures until the policyholder reaches 70 years of age. Though entry-age requirements may differ from company to company.

Eligibility conditions for acquiring the Accidental Death Benefit Rider may vary among insurers, though they must fulfill specific health criteria.

Documents Required to Claim for Accidental Death Rider

You need the following documents for claiming the accidental death benefit rider:

What are the pros and cons of Accident Benefit Rider?

Conclusion

With the accident benefit rider, you are not just purchasing coverage, but investing in the peace of mind. It is a shield that gives you numerous benefits from enhanced death coverage to disability support due to accidents. So, by adding this rider to your basic policy insurance, you are taking a crucial step toward safeguarding your family's future.