Riders in LIC Policies

HOW RIDERS ADD VALUE TO YOUR LIFE INSURANCE PLAN The basic objective of buying life insurance is to provide maximum financial security to the dependants in case of untimely death of the policyholder. In almost all the cases the basic sum assured and accrued bonus till the time of death determines the final payout to the nominee. However, there are provisions for providing different benefits in different circumstances, which the policyholder may not even foresee at the time of signing a proposal for taking a life insurance policy. It is a common practice worldwide for life insurers to provide add-on benefits under the same policy on payment of a small additional premium. For example, almost every company offers double accident benefit. This benefit can be secured by payment of additional premium as low as rupee one per thousand sum assured. Rider benefits Under this rider benefit, in case of death by accident a sum equal to the basic sum assured is paid to the nominee over and above the sum assured under the policy. The additional sum under this rider is meant to provide additional funds to help the family. The worst would be that the policyholder, the victim of the accident, is permanently incapacitated and is unable to earn any longer. Read more at www.starhealthdevarajan.com/news/649 For Insurance related services, Call 98401 77017 Devarajan www.starhealthdevarajan.com https://www.facebook.com/mediclaimagent/