You live in pursuit of your family’s happiness. Even in your absence you want to keep them happy and financially secured. Life is unpredictable, but an unforeseen accident or disability caused due to accidents may affect your family’s financial well-being.
ICICI Pru Linked Accidental Death and Disability Rider is designed to secure the financial needs of your loved ones in case of your unfortunate demise or a disability caused due to accidents. The Rider will be attached to your base policy and provide you additional sum assured1 to give you that extra comfort of safety.
Key Benefits:
- ICICI Pru Linked Accidental Death and Disability Rider offers two types of Benefit Options as given below
- Accidental Death Benefit (“ADB”)
- Accidental Total and Permanent Disability Benefit (“ATPD”)
- This Rider pays out a lump sum in case of an accidental death2 or accidental total and permanent disability3
- You can opt for one or both of the rider benefit options i.e. Accidental Death1 cover or Accidental Total and Permanent Disability2 cover
- You have an option to add the rider benefit to your base policy at its inception or at a later stage any time during the premium payment term of the base policy
- Under Accidental Death Benefit option, Sum Assured1 is available up to three times the Sum Assured on Death at inception for the base policy.
- Under Accidental Total and Permanent Disability3 option, Sum Assured1 is available up to the Sum Assured on Death at inception for the base policy.
- The premium payment and policy term of the rider will be as per the base policy subject to maximum available rider coverage term
- Tax benefits4 may be available on premiums paid and benefits received as per the prevailing tax laws
The rider is available with the following plan:
1) Can I only purchase the ICICI Pru Linked Accidental Death and Disability Rider?
2) Does the rider provide tax benefits?
3) Is there any online discount available?
A discount on each year’s rider premium will be offered to all policies purchased with rider online which is given in the table below.
| Premium Payment Option | Discount |
|---|---|
| Single Pay | 2% |
| Limited Pay, Regular Pay | 4% |
4) What is the maximum coverage that I can opt for with the ICICI Pru Linked Accidental Death and Disability Rider?
Under Accidental Death Benefit option, Sum Assured1 is available up to three times the Sum Assured on Death at inception for the base policy.
Under Accidental Total and Permanent Disability3 option, Sum Assured1 is available up to the Sum Assured on Death at inception for the base policy.
5) Are there any exclusions for ICICI Pru Linked Accidental Death and Disability Rider?
1) Can I only purchase the ICICI Pru Linked Accidental Death and Disability Rider?
2) Does the rider provide tax benefits?
3) Is there any online discount available?
A discount on each year’s rider premium will be offered to all policies purchased with rider online which is given in the table below.
| Premium Payment Option | Discount |
|---|---|
| Single Pay | 2% |
| Limited Pay, Regular Pay | 4% |
4) What is the maximum coverage that I can opt for with the ICICI Pru Linked Accidental Death and Disability Rider?
Under Accidental Death Benefit option, Sum Assured1 is available up to three times the Sum Assured on Death at inception for the base policy.
Under Accidental Total and Permanent Disability3 option, Sum Assured1 is available up to the Sum Assured on Death at inception for the base policy.
5) Are there any exclusions for ICICI Pru Linked Accidental Death and Disability Rider?
Accidental Death Benefit:
The below table shows sample annualized premiums for the Accidental Death Benefit Option at different premium payment terms and rider terms for a sum assured of ₹ 10 Lacs.
| Premium Payment Term (A) |
Rider Term (B) |
Annualized Premium (C) |
Total Premiums Paid (AXC) |
|---|---|---|---|
| 5 years | 10 years | 940 | 4,700 |
| 6 years | 12 years | 988 | 5,928 |
| 10 years | 12 years | 684 | 6,840 |
| 12 years | 20 years | 923 | 11,076 |
| 20 years | 20 years | 600 | 12,000 |
GST applicable on premium will be charged extra as per prevailing tax laws.
Accidental Total and Permanent Disability (ATPD) Benefit :
The below table shows sample annualized premiums for the Accidental Total and Permanent Disability Benefit Option at different premium payment terms and rider terms for a sum assured of ₹ 10 Lacs.
| Premium Payment Term (A) |
Rider Term (B) |
Annualized Premium (C) |
Total Premiums Paid (AXC) |
|---|---|---|---|
| 5 years | 10 years | 724 | 3,620 |
| 6 years | 12 years | 759 | 4,554 |
| 10 years | 12 years | 525 | 5,250 |
| 12 years | 20 years | 705 | 8,460 |
| 20 years | 20 years | 460 | 9,200 |
GST applicable on premium will be charged extra as per prevailing tax laws.
Plan at a Glance
| Premium Payment Option (PPT in years) |
Premium Payment Term (PPT) (in years) |
Min/Max Policy Term (PT) (in years) |
Min/Max Age at Entry (in years) |
Min/Max Age at Maturity (in years) |
Min/Max Sum Assured |
Min/Max Annualized Premium |
|---|---|---|---|---|---|---|
| Single Pay | 1 | 5 to 67 | 18/65 | 23/85 | Min: ₹ 50K Max: As per Board Approved Underwriting Policy, under each benefit option | Corresponding to the minimum/maximum sum assured |
| Limited Pay | 5 to 66 | PPT+1 to 67 | ||||
| Regular Pay | 5 to 67 | Equal to PPT |
*Applicable Goods and Services Tax will be taken separately, as per applicable rates. The tax laws are subject to amendments from time to time.
Premium Payment Frequency: Single Premium, Yearly, Half-Yearly, Monthly (same as chosen under the Base policy)
Please note: The maximum Rider Premium Payment Term under each of the benefit option(s) (Accidental Death and Accidental Total & Permanent Disability) will be equal to the outstanding Premium Payment Term of the Base policy. The maximum permissible Rider Coverage Term will be equal to the outstanding policy term of the base policy. These will be subject to minimum and maximum conditions mentioned in the table above.
“Coverage Term” means the period in complete years during which risk cover in respect of the chosen Benefit Option is in effect.
Any of the benefit option under the rider can be attached to an applicable base policy at the inception of such policy or at any subsequent policy anniversary during the premium payment term of the base policy, subject to the age restrictions mentioned in the table above.
Premium will vary depending upon the Option chosen.
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