LIC's Accident Benefit Rider

BENEFITS

1. The following benefits are payable under an in-force Rider:

A. Death Benefit:
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 death of the Life Assured and the same is proved to the satisfaction of the Corporation, a sum equal to the Accident Benefit Sum Assured shall be payable under this Rider subject to the following:

i) The Rider shall have to be in-force at the time of accident (i.e. all due premiums should have been paid as on the date of accident).
ii) Conditions and Restrictions mentioned in Condition 4 of Part C of this Endorsement.

B. Maturity Benefit: No maturity benefit is payable under this Rider.

2. Payment of Premium:

(a) The Accident Benefit Rider premium, including taxes as applicable from time to time, is payable only along with the premium for the Base Policy and cannot be paid separately.

(b) In case of accident under an in-force policy, wherein all the premiums due till the date of accident have been paid and subsequent premiums till date of death for admissible death claim have not been paid, in such a case premium(s) in respect of this Rider falling due on or after the date of accident till the policy anniversary following the date of death shall be deducted from the Death Benefit payable under this Rider.

(c) The additional premium paid in respect of this Rider shall not be taken into account for determination of Death Benefit of the Base Policy and in calculating the surrender value of the Base Policy.

3. Grace Period: As per Base Policy

4. Conditions and Restrictions:
A. An Accident for the purpose of this policy is as defined in Part B of this Endorsement.

B. This Rider will not be available under the policy on the life of minors, during minority of the Life Assured. However, Accident Benefit will be available from the policy anniversary following completion of age 18 years on receipt of specific request and payment of additional premium, if found eligible for Accident Benefit as per the rules of the Corporation.

C. Subject to stated above, under an in-force policy the LIC's Accidental Benefit Rider can be opted for, by payment of additional premium, at any time within the premium paying term of the Base Policy provided the outstanding premium paying term of the Base Policy as well as Rider is at least five years but before the policy anniversary on which the age nearer birthday of Life Assured is 65 years. The benefit covered under this rider will be available during the outstanding premium paying term of the Base Policy or up to the policy anniversary on which the age nearer birthday of the Life Assured is 70 years, whichever is earlier, provided the policy is in force on date of accident.

D. The additional premium for this benefit will not be required to be paid after all premiums under the Base Policy have been paid or on and after the policy anniversary on which the age nearer birthday of the Life Assured is 70 years, whichever is earlier. However, the premium under the Base Policy shall continue to be paid beyond age 70 years till the end of policy term, wherever applicable. In case, if premium for Accident benefit cover is paid beyond the stipulated period, then same will be refunded without interest with claim amount payable under the policy.

E. The maximum aggregate limit of Accident Benefit cover shall be as under:

(i) For LIC's Jeevan Shiromani with minimum Basic Sum Assured of Rs. 100 lakhs
The maximum aggregate limit of assurance under all policies including policies with in-built Accident Benefit taken with Life Insurance Corporation of India under individual policies as well as group policies on the same life to which following benefits apply shall not in any event exceed Rs.200 lakhs of Accident Benefit Sum Assured (including LIC's Jeevan Shiromani). If there be more policies than one and if the total Accident Benefit Sum Assured exceeds Rs. 200 lakhs (including a minimum of 100 lakhs under LIC's Jeevan Shiromani) the benefits shall apply to the first Rs. 200 lakhs Accident Benefit Sum Assured in order of date of policies issued.

(ii) For all other plans (excluding LIC's Jeevan Shiromani):
The maximum aggregate limit of assurance under all policies including policies with in-built Accident Benefit taken with Life Insurance Corporation of India under individual policies as well as group policies on the same life to which following benefits apply shall not in any event exceed Rs.100 lakhs of Accident Benefit Sum Assured. If there be more policies than one and if the total Accident Benefit Sum Assured exceeds Rs. 100 lakhs, the benefits shall apply to the first Rs. 100 lakhs Accident Benefit Sum Assured in order of date of policies issued.
In any case, the maximum Accident Benefit cover offered to an individual including the policies taken under Condition 4.E.(i) above, will not exceed Rs. 200 lakhs.

F. Exclusions:
The Corporation shall not be liable to pay the benefits as specified in Condition 1.A of Part C above, if the death of the Life Assured shall:

(i) be caused by intentional self injury, attempted suicide, insanity or immorality or whilst the Life Assured is under the influence or consumption of intoxicating liquor, narcotic or drug (unless prescribed by doctor as a part of treatment); or

(ii) be caused by injuries resulting from taking any part in riots, civil commotion, rebellion, war (whether war be declared or not), invasion, hunting, mountaineering, steeple chasing, racing of any kind, paragliding or parachuting, taking part in adventurous sports; or

(iii) result from the Life Assured committing any criminal act with criminal intent; or

(iv) a) arise from employment of the Life Assured in the armed forces or military service. This exclusion is not applicable if the Life Assured was involved in an accident when he is not on duty or was involved in any rescue operations while combating natural calamities in our country; or

b) arise from being engaged in police duty (which excludes administrative assignments) in any police organization other than paramilitary forces. This exclusion is not applicable where the option to cover Accident Benefit arising on accident while engaged in police duty, has been chosen; or

(v) occur after 180 days from the date of accident of the Life Assured.