LIC Plans – RIDERS & BENEFITS

RIDERS & ITS BENEFITS

  • PWB (Premium Waiver Benefit)
  • A.B (Accident Death Benefit)
  • A.D.& D.B (Accidental Death & Disability Benefit)
  • T.R (Term Rider)
  • C.I.R (Critical Illness Rider)
  1. PWB (Premium Waiver Benefit)
    Plans available: 832, 834 & 848

    • IT CAN BE INCLUDED at time of INCEPTION or LATER (atleast min 5 years ppt/term must be left before Date Of Maturity (DOM)
    • The death of the proposer must be before the completion of 18 yrs of age.
    • All the future premiums will be waived till Prem Paying Term/Policy Term.
  2. A.B (Accident Death Benefit)
    Plans available: 827, 835, 843, 844, (845, 847 & 848)

    • It covers Accidental death before the DOM or 70 yrs of age.
    • For plans in the bracket till PPT only.
  3. A.D.& D.B (Accidental Death & Disability Benefit)
    Plans available: 814, 815, 820, 821, 830, 833, 836, 838, 845, 846, 847 & 848
    AD & DB covers both Accidental death and disability due to Accident. Disability means due to any of the 4 out of 6 activities couldn’t be performed mention below.
    Dressing, Feeding, Washing, Toileting, Mobility & Transferring
    Benefits

    • Waiver of future premiums
    • AB sum assured divided by 120 and payable mly for 10 yrs
    • SB if any payable
    • Maturity benefits payable.
    • If Death occurs before maturity Death Claim also payable.
  4. T.R (Term Rider)
    Plans available: 814, 815, 820, 821, 830, 833, 836, 845, 847 & 848
    Benefits– An Additional S. A is payable on Death of the P.H before maturity by any way.
  5. C.I.R (Critical Illness Rider)
    Plans available: 814, 815, 820, 821, 830, 836, 838, 845, 847 & 848.
    Benefits– On the 1st diagnosis of any of the 15 diseases mentioned in the circular dt 19.12.2016 N.B Dept.
    The CIR S.A is payable to the PH ON survival after 30 days of the Diagnosis.
    Min. 1 lakh
    Max. S.A. Overall limit 25 lakhs per person.
    If we take Cancer Cover plan this benefit is upto 50 lacs

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