FAQs for Shriram Life Accident Benefit Rider

The Accidental Benefit rider pays a lump sum benefit on accidental demise and permanent total disability suffered in an accident. It also waives the premium payment in the case of a disability. 

Under the Accident Benefit Rider, the free look period is 15 days from policy issuance. You can cancel the rider during the free look period for a premium refund.

There will be no rider benefit if the life insured commits suicide after 4 years. This is because suicides are not covered under the Accident Disability Benefit Rider.

To contact Shriram Life for buying the Accident Benefit Rider, call 1800 103 7401 or visit the nearest branch.

The rider coverage will be restricted to ₹50 lakhs even if the base policy's coverage is ₹1 crore. This is because the rider allows a maximum cover of ₹50 lakhs.

The premium amount for the Accident Benefit rider on life insurance depends on the life insured's age and the coverage details selected.

You can pay the premium amount offline through cash, cheque, or drafts. You can also make online payments through cards, UPI, mobile wallets, net banking, etc.

You can calculate the paid-up value under the accidental rider benefit using the following formula -

Paid-up value = (number of premiums paid / total number of premiums payable) X rider sum assured

You cannot apply for a loan under the Accident Benefit rider because the rider does not have any loan.