Life is full of things we can’t control, but we can get ready for things that could hurt or kill us. For extra safety, LIC of India’s Accidental Death & Disability Benefit (ADDB) Rider is just what you need. This long-term life insurance protects the policyholder and their family in case of an accident. Riders keep families from having to worry about money when bad things happen.
What Is LIC Accidental Death & Disability Benefit Rider?
For a fee, LIC’s Accidental Death & Disability Benefit Rider may be added to life insurance policies. A lump-sum payment for unintentional death or injury is an extra safety measure. When you add this rider to your life insurance, it covers financial losses as well as death.
Amount promised to the choice if the insured dies in an accident, on top of the death benefit from the life insurance. The rider helps the insured and their family pay for medical bills if they get hurt and can’t work again.
Important ADDB Rider features
Accidental Death and Disability Insurance Rider gives emergency cash help top priority. The rider covers handicap caused by an accident when life insurance doesn’t. It’s best for high-risk jobs and risky hobbies.
Policyholders whose families have died or become disabled get cash support. The rider gives a big sum to cover daily costs, mortgage payments, and child care if the insured person dies in an accident. The family’s way of life is protected in case they lose their job suddenly.
The Accidental Death Benefit and How It Works
People who die in accidents make more for the candidate with the ADDB Rider. The amount here is the same as the rider’s sum covered, which is usually the normal insurance. If you add a 30 lakh ADDB Rider to a 30 lakh life insurance policy, it will give your family 60 lakh if you die in an accident. The two payments make it easier on the finances after losing the main worker.
External, strong, and noticeable strategies lead to deaths by mistake. The accident has to be unique and happen within 180 days. The perks of the rider and how to file a claim are made clear.
Supporting the Policyholder through Disability: A Closer Look
Riders assist the insured who is hurt in a crash but survives. It is of material significance that the ADDB Rider helps the insured who is out of employment, financially. Riders may utilize their payment for the medical bills, therapy, or accommodation of their disability. Loss of limb, total paralysis, or total and irrecoverable loss of vision in one eye will render a person totally unable to work. Hence the rider shall ensure that even if the income of the insured has decreased they will be in a position to afford their lifestyles and commitments.
Why Should You Opt for LIC’s Accidental Death & Disability Benefit Rider?
Accidental Death and Disability Insurance Rider helps families stay financially stable even when life is unpredictable. Key earners should choose it to protect their families’ money in case of an accident. This rider could help families who have a lot of debt from things like homes or school costs for their kids.
The rider helps people who are at high risk. This rider is helpful for businesses that have a lot of accidents, like construction and transportation. It gives them peace of mind that their family will be taken care of financially if they get hurt or die in an accident.