Example 2 Say a person has bought a life insurance policy for a basic cover of Rs 10 lakhs with
accidental death rider of Rs 2 lakhs.
If the person dies in an accident, then the company will pay Rs 12 lakhs (base cover of Rs 10 lakhs and
accidental death rider amount of Rs 2 lakhs).
«For just $ 6 more dollars a month we could add a Cancer policy» or «You should really add a waiver of premium rider to your disability income policy» or «What would really round out this life insurance policy is an
added accidental death rider».
If the basic protection is what you are looking for, then you may opt for the disability /
accidental death riders which you can buy as an add on to your Life Insurance cover.
Further I have taken life cover against home loan of approx Rs 35 Laks from Bharati Axa Life Loan Secure and Bharati life
group accidental death rider of Rs approx 35 Lakhs.
Also, the policy holder of a Foresters PlanRight burial policy can also add — for an additional amount of premium charge — an
optional accidental death rider with a level death benefit.
Accidental Death Benefit Rider: In the case of death by an accident, the sum assured
under accidental death rider option shall be paid additionally with the basic sum assured amount of SBI Shubh Nivesh plan.
Motor
Vehicle Accidental Death rider policy form C783LNA09R (C787LFL09R in FL; C794LNC09R in NC; C799LOK09R in OK; C818LPA09R in PA; C801LTX09R in TX) or state equivalent.
If you have purchased a standalone personal accident cover and
accidental death rider along with your term life insurance plan, you might find a recent ruling by National Consumer Disputes Redressal Commission (NCDRC) interesting.
On your 2nd query on accident benefit rider: Example 1 Say a person has bought a life insurance policy for a basic cover of Rs 10 lakhs
without accidental death rider.
Further I have taken life cover against home loan of approx Rs 35 Laks from Bharati Axa Life Loan Secure and Bharati life
group accidental death rider of Rs approx 35 Lakhs.
A. Yes, the NEA Group Term Life Insurance Plan also offers an
optional accidental death rider that doubles coverage for loss of life caused by a covered accident.
For example — if you have taken a basic policy of 30 lakhs sum assured and
accidental death rider of 10 lakhs, your legal heirs will get 40 lakhs in case of death due to accident and 30 lakhs in case of death due to other reasons.
The accidental death rider pays an additional benefit if the policyholder dies in a covered accident.
MetLife also offers
an accidental death rider which pays an additional death benefit on top of your policy if you pass away due to a qualified accident, such as a car crash.
An Accidental Death rider can usually be added to any life insurance policy, even a Term Life Insurance policy at any time.
Should you decide to add
an accidental death rider to your policy, be sure that you carefully review the list of covered accidents that the rider will apply to.
Most term life policies are available with a variety of riders such as the spouse rider, the children's term rider, the waiver of premium rider,
the accidental death rider, the unemployment rider and several others.
The accidental death rider is the only rider available with Standard Life and Casualty Insurance Company.
The Accidental Death Benefit Rider is not available for the graded plan but the Common Carrier
Accidental Death rider is included at no additional cost.
The accidental death rider would provide an additional death benefit if the cause of death was specifically from an accident.
Finally,
the accidental death rider allows for additional coverage if death is due to an accident.
The accidental death rider provides an additional death benefit (whatever amount you select) if the cause of death is specifically from an accident.
Just like the already included common carrier
accidental death rider, the accidental death rider will always pay out in addition to the normal death benefit.
If you are eligible for the level benefit, you can elect to purchase
an accidental death rider.
Furthermore, you can add on either the child rider, or
the accidental death rider for a little extra premium.
Burial insurance often has the option of
an accidental death rider, and some companies will write them up to $ 25,000 for a fairly reasonable premium.
$ 250 of dental benefits are included and a $ 25,000
accidental death rider is offered.