Accidents affect the families emotionally as well as economically as it is a loss of a source of income or sudden expenses to deal with the consequences or disabilities. Exide Life offers Accidental Death Disability and Dismemberment Benefit Rider policy, it is reasonable way of financially securing the family in an event of any misfortune event.
- Minimum age at entry - 18 years.
- Maximum age at entry - 65 years.
Sum assured is lower of Rs.20 Lakhs or the sum assured of the base policy that the rider is attached to. Rider term is a minimum of 10 years and a maximum of 75 years.Tax Benefits:
- On the premiums paid, the policy holder can avail tax benefits under Section 80C of the Income Tax Act, 1961.
- For the lump sum pay outs made, the policy holder can get tax benefits under Section 10(10D) of the Income Tax Act, 1961.
- 100% of the rider sum assured is paid to the nominee in case of death due to accident.
- If the insured dismembers a thumb and index finger on the same hand, 25% of the sum assured is paid.
- If any one of your limb is dismembered, you get 50% of the sum assured.
- If two or more of your limbs are dismembered, you get 100% of the sum assured is paid.
- On total or permanent loss of speech, insured gets 25% of the sum assured.
- On loss of hearing in both ears, 50% of sum assured is paid to the insured.
- If the insured losses use of any one of the limb, 50% of sum assured is paid to him.
- On total or permanent loss of use of two or more limbs, 100% of the sum assured is paid to the insured.
- If the insured has permanent and total disability, he gets paid 100% of the sum assured.
Accident is a sudden unforeseen event that leads to:
- Death resulting from bodily injury caused by the accident. Or that occurs directly from the accidental injury and that which occurs within 180 days from the day of date of the accident.
- Dismemberment of a limb is physical severance of arm at or above wrist or leg at or above ankle. This should be resulting because of the accident and must have occurred 180 days from the day of the accident.
- Dismemberment of thumb or index finger is a physical severance of thumb or index finger at or above the joint which must result from the accident and should occur 180 days from the day of accident.
- Total and permanent disability is that which prevents the person from engaging in any work thus preventing him from obtaining wages or compensation.
- Loss is physical severance of irreversible loss of use resulting from bodily injury caused by accident. This should occur within 180 days of the accident.
Example: If Mr.A has an Exide Life Secured Income Insurance for 20 years for a sum assured of Rs.5 lakhs. And he chooses to pay Rs.80 per month extra for the Accidental death Disability and Dismemberment Rider, he gets an additional protection or Rs.5 Lakhs against disability, dismemberment or death caused by accident during the policy period.Exclusions:
The rider cover does not cover death or disability caused by:
- Disease or infection.
- Intentional self-injury.
- Excessive drug and alcohol abuse and use or psychotropic drugs that are not prescribed by a medical practioner.
- Damages caused by war, riots or revolution.
- Participating in a flying activity with an exception as a bonafide passenger in a commercially licensed aircraft.
- If you are a part of an unlawful act with a criminal intent.
- Any injury sustained before the rider plan was effective.
- If the policy holder is involved in hazardous sports like racing, parachuting, mountaineering etc.
- Atomic energy explosion or any kind of radiation.
Disclaimer: Insurance is subject matter of solicitation. The policy must be read thoroughly for the risk factors, terms and conditions etc.
This plan is ideal attachment to those having a life insurance policy with Exide Life. An additional lump sum amount is paid out in case of disability, dismemberment or death caused by accident. The insured can save tax on the premium paid and on the benefit amount as well.
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