Accidental Death Benefit Rider in Life Insurance

The accidental death benefit rider can be beneficial for anyone. It is mainly useful for people at a higher risk of accidents. You can add an accidental death benefit rider to your life insurance policy to provide extra protection for your beneficiaries in case of an accident. If you add an accidental death benefit rider to your life insurance policy it can give you and your family more financial security in a worst-case scenario. Read More

Accidental Death Benefit Rider in Life Insurance

What is Accidental Death Benefit Rider?

The accidental death benefit rider provides additional coverage to the policyholder in case of the death of the policyholder due to accidental means. In most cases, accidents may not result in the on-the-spot death of the life assured, in such cases; the insurance company provides time duration after the accident occurs to provide the given cover. A total of 100% accidental death benefit sum assured would be paid to the nominee on the death of the policyholder in addition to the base death benefit sum assured mentioned under the policy.

Accidental Death Benefit Rider Example:

For instance, if the base sum assured under the policy is Rs.50 Lacs and the accidental death benefit rider sum assured is Rs.50 Lacs, in case of death of the policyholder due to accidental means the beneficiary would get a total of Rs.1 Crore (50lacs base + 50lacs rider). The sum assured provided under this option would be over and above the base, sum assured for an additional premium to be paid by the policyholder.

Why Buy Accidental Death Benefit Rider?

  • Extra Protection: Accidental death benefit rider provides an extra layer of financial protection to you and your family. In case of an unfortunate death of the life insured caused by an accident, a rider benefit amount along with the death benefit under the life insurance policy will be provided to the family of the life insured.
  • Tax Benefits: Premiums are paid towards a life insurance policy and riders qualify for tax exemptions. The life insured can avail of double tax benefits by purchasing the accidental death benefit rider for up to Rs. 1.5 Lacs under Section 80C and 10(10D) of the Income Tax Act, 1961.
  • No Medical Check-ups required: In case the policyholder chooses to purchase an accidental death benefit add-on for their life insurance policy, there is no medical examination is required.
  • Multiple Payout Option: In the accidental death benefit rider, the rider benefit amount will be paid as a lump sum or regular installments as per financial requirements.  The beneficiary has the flexibility to choose the payout option according to their financial requirements. In case the nominee opts for a lump sum, the rider benefit will be provided as a lump sum along with the death benefit, and in case the nominee opts for regular installments, the nominee will receive equal installments for a fixed period along with the death benefit.
  • Minimal Documentation: One of the main reasons why people buy an accidental death benefit rider is that while purchasing this rider minimum documentation is required.
  • Hassle-free Claim Settlement: In case of the unfortunate death of an insured due to an accident during the coverage period, the family would want a hassle-free claim settlement without getting into paperwork. In such cases, the insurance providers provide an easy and quick claim settlement.

How Accidental Death Benefit Rider Works?

Accidental death benefit riders are not typically included in standard life policies. They can be added to your life insurance policy, however, and they can help you receive a larger benefit in the event of your death. The purpose of this rider is to provide an economic incentive for people who find themselves at risk of accidental death.

The accidental death benefit rider works differently depending on the type of policy that you have. The rider can be found in both term and whole life insurance policies, which are designed to provide a certain amount of coverage for different periods.

The accidental death benefit rider will usually cover your dependents if they are still living at the time of your death. However, it may not cover them if they are not living with you or if they're dependent on someone else's income instead.

Eligibility Criteria of Accidental Death Benefit Rider:

Parameter Eligibility
Entry Age Minimum 18 years to Maximum 65 years
Maturity Age 70 years
Sum Assured Rs. 1 Lac to No limit
Policy Term 5 years to 60 years
Premium Payment Mode Monthly, Quarterly, Half-yearly, Yearly

Accidental Death Benefit Rider Exclusions

Exclusions under an accidental death benefit rider are

  • Suicidal death
  • Drug overdose
  • Consumption of Alcohol
  • Self-inflicted Injuries
  • Participation in hazardous activities
  • Death owing to pre-existing illness
  • Participation in civil commotion, riots, war
  • Death/disability after 180 days of the accident

How to Buy Life Insurance with Accidental Death Benefit Rider at PolicyBachat?

The process of buying a life insurance policy along with the accidental death benefit rider online has become simple with PolicyBachat. For buying a life insurance plan online please visit our website Following are steps to compare life insurance quotes online in our portal.

  • Visit the PolicyBachat Website and select the ‘Life’ tab.
  • Enter your Name, Date of Birth, and Mobile Number.
  • Click on the ‘View Plans’ button.
  • Just Answer 5 Simple Questions.
  • Select your ‘Gender’.
  • Select ‘YES’ or ‘No’ if you have Smoked or Chewed Tobacco in the last 12 months.
  • Select your ‘Annual Income’.
  • Select your ‘Education Qualification’.
  • Choose your ‘Occupation Type’.
  • Enter your ‘Email Address.
  • Then click on ‘Start Saving Money.
  • Premium Quotes of top life insurance plans will be displayed as per data entered by you and which are suits your requirement.
  • Then select the Additional Death Benefit add-on cover.
  • Enter the sum assured amount as per your budget.
  • Purchase the best life insurance policy using online payment.

Accidental Death Benefit Rider Premium Table

Plan Name Sum Assured Total Payout Premium Per Month
Bajaj Allianz  Smart Protect Goal Rs. 10 Lacs Rs. 70 Lacs Rs.1205/-
Max Life Smart Secure Plus Plan Rs. 10 Lacs Rs. 70 Lacs Rs.1298/-
HDFC Life Protect Rs. 10 Lacs Rs. 70 Lacs Rs.2495/-
PNB MetLife Mera Term Plan Plus Rs. 10 Lacs Rs. 70 Lacs Rs.1557/-
Tata AIA Sampoorna Raksha Supreme Rs. 10 Lacs Rs. 58 Lacs Rs.1253/-
ICICI iProtectSmart - Life Plus Rs. 10 Lacs Rs. 70 Lacs Rs.1865/-
Canara HSBC OBC I Select Star Rs. 10 Lacs Rs. 70 Lacs Rs.1744/-

*Above mentioned premiums are for illustration purposes. Premium rates may vary as per the data entered by you.*

Documents Required for Accidental Death Benefit Rider Claim

Following are the documents required for claiming accidental death benefit rider:

  • Duly filled claim form
  • Original policy documents
  • Photo ID Proof
  • Address Proof
  • Bank Account Details
  • FIR (copy or original)
  • Postmortem Report (copy or original)
  • Sub-Divisional Magistrate’s Final Verdict
  • Driver’s License of the life assured

FAQs of Accidental death Benefit Rider in Life Insurance

What are the Benefits of the Accidental Death Benefit Rider?

  • The main motivation for people to buy life insurance policy is to provide financial support to their family members in case they die unexpectedly.
  • Accidental death benefit rider covers the beneficiaries of a policy if the insured dies due to an accident.
  • This is particularly helpful if they have young children or dependents without other means of support.
  • Accidental Death Rider provides cover against accidental death.
  • Coverage up to 1 Crore for eligible beneficiaries.
  • No medical exam is required for beneficiary eligibility.

What Is Accidental Death Benefit Rider in Term Insurance?

Accidental Death Benefit Rider in Term Insurance is a rider that provides death benefits to the beneficiaries of the policyholder in case of accidental death. In other words, it is a rider that is added to the policy during its term and provides death benefits to the beneficiaries of the policyholder.

This rider can be offered as part of an insurance contract or as a standalone insurance product. It can also be purchased by an individual who already has whole cover on his/her own.

How is Term Insurance Accidental Death Benefit Rider?

Term insurance accidental death benefit riders offer coverage for a range of financial payments. This rider is a type of life insurance and it is meant to cover the cost of funeral expenses and other lost wages.

This rider is not only used by individuals but companies as well. It can be used to provide benefits for employees in case they die or become disabled.

What is the Difference between the Accidental Death Benefit Rider and Accidental Death Benefit?

The accidental death benefit is a standalone life insurance policy and an accidental death benefit rider is additional coverage that you can add to your life insurance policy. A standalone policy can protect accident coverage or don’t qualify for traditional life insurance, while an accidental death benefit rider is a way to boost protection of a life insurance policy in case of unfortunate death of an insured due to an accident.

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