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It is an optional benefit available on payment of additional premium, and it provides additional benefit, in case of accidental death or disability due an accident.
BENEFITS
The following benefits are payable under an in-force Rider:
If the Life assured is involved in an accident at any time when this Rider is in-force, and such injury shall within 180 days of its occurrence solely, directly and independently of all other causes result in (a) either Total and Permanent disability, as hereinafter defined or (b) death of the Life assured; and the same is proved to the satisfaction of the Corporation, the following benefits shall be payable subject to 'Conditions and Restrictions' mentioned in Condition 4 of Part C of this Endorsement.
In case of Disability to the Life Assured:
(i) Disability Benefit equal to the Accident Benefit Sum Assured, divided into equal monthly instalments spread over a period of 10 years, shall be paid and (ii) the payment of future premiums, if any, shall also be waived in respect of this Rider and the premium for Base Policy corresponding to Basic Sum Assured equal to Accident Benefit Sum Assured. The total premium including the premium for other rider(s), if opted for, and premium under the Base Policy corresponding to the difference in the Basic Sum Assured and the Accident Benefit Sum Assured (if Basic Sum Assured exceeds the Accident Benefit Sum Assured under this Rider), shall continue to be paid for continuity of coverage of respective benefits as per the terms and conditions of the Base Policy and Rider(s).
On death or maturity before the expiry of the said period of 10 years, during which monthly instalments are to be paid, the Disability Benefit instalments, which have not fallen due, will be paid in lumpsum.
The proximate cause of disability must be an 'Accident' and must be total and permanent. Accidental injuries which independently of all other causes and within 180 days from the happening of such accident result in such disability due to which life assured is unable to perform at least 4 (four) of the following Activities of Daily Living (defined below) permanently without any external help/support including the use of mechanical equipment, special devices or other aids, then such disability shall be treated as Total and Permanent. Medical Examiner authorized by the Corporation shall examine the life assured to certify the disability as Total and Permanent.
Maturity Benefit:
No maturity benefit is payable under this Rider.
Grace period: Same as mentioned under the Base Policy.
