Calculators LIC plans Riders & Add-ons
Doubles SA on accidental death. Add-on, not standalone.
LIC's Accident Benefit Rider (UIN 512B203V03) pays an additional lump sum equal to the rider sum assured if the life assured dies as a direct result of an accident within 180 days of the incident. It is a pure death-only rider — there is no disability cover and no premium waiver. Like all riders, it is a pure-protection add-on: if no accidental death occurs, the rider expires quietly and your base policy maturity amount is completely unchanged.
The life assured dies as a direct result of an accident caused by external, violent, and visible means. Death must occur within 180 days of the accident. LIC pays the rider SA as a single lump sum to the nominee, in addition to the full base-policy death benefit. There is no partial payout: it is all-or-nothing. Survival with injuries, however severe, triggers no payout under AB.
Same exclusions as ADDB: self-inflicted injury, war, criminal acts, non-commercial aviation, intoxicants, adventure sports. Additionally: death from illness, disease, or natural causes is outside scope even if the insured was also in an accident. Death occurring more than 180 days after the accident is not covered even if the accident was the original cause. The rider expires at age 70 or end of base policy term, whichever is earlier.
The only scenario where AB beats ADDB: you need a rider SA above 1× your base SA (AB goes to 3×) and you already have robust disability coverage elsewhere. In virtually every other situation, ADDB is the correct choice because the disability payout and premium waiver are genuinely valuable and cost only ₹100/year more per ₹1L of SA. Choosing AB over ADDB to save ₹100/year is a poor trade.
AB is the right choice for a narrow use case: a policyholder who already holds a comprehensive standalone personal accident policy covering disability income, but wants additional accidental death cover on top of their LIC base policy — specifically because the rider SA need exceeds 1× the base SA (AB allows up to 3×). Outside that niche, ADDB is almost universally the better pick. AB is not recommended as a first and only accident cover for someone with no PA policy — the absence of a disability leg is a meaningful protection gap for any working earner.
Rider premiums are part of the overall life insurance premium and fall within the §80C ceiling of ₹1.5L (shared with base policy). Accidental death proceeds paid to the nominee are tax-free under §10(10D). From 22 September 2025, individual life insurance premiums (including riders) attract 0% GST.
Asymmetrica isn't an insurance advisor. The analysis above is editorial, sourced from published LIC brochures. Verify eligibility, current rates, and plan-specific conditions with LIC or a licensed advisor before purchasing.
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