The double benefit accident rider provides for payment of an additional sum in the event of death caused by an accident.
Conditions where you can claim dual benefits include;
Death must be caused directly and independent of all other causes, by an accidental body injury, and,
Death must follow within a specified period of injury, which is typically 90-180 days.
What are riders in life insurance plans?
Riders are additional benefits that can be attached with the basic life insurance policy. Riders give you the benefit of increasing your risk cover in case certain events take place.
Similarly, there are different riders addressing different contingencies like critical illness, permanent disability, accident and others.
Some riders waive future premiums in case of disability of the policyholder. Riders come at a nominal cost and can be availed depending on the policy taken. These can only be taken at the beginning of the policy term.
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