LIC's Accident Benefit Rider (UIN 512B203V03) adds an extra lump sum to your LIC policy if you die in an accident within 180 days of it. It costs about ₹1 a year per ₹1,000 of cover on a regular premium policy, so ₹5 lakh of accident cover adds roughly ₹500 a year. Entry age is 18 to 65 and cover ends by age 70.
LIC Accident Benefit Rider Premium Calculator
Your estimate
on top of the base policy death benefit
- Premium per instalment
- ₹500
- Premium paying term
- 20 years
- Total rider premium
- ₹10,000
- Yearly cost per ₹1 lakh cover
- ₹100
- Cover till age
- 50 years
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC’s Accident Benefit Rider?
LIC’s Accident Benefit Rider is an optional add-on you can attach to an eligible LIC policy. It pays your nominee an extra lump sum if you die because of an accident, over and above the base policy’s death benefit. The current version (UIN 512B203V03) has been available since 1 October 2024 with regular, limited and single premium options.
An accident here means a sudden, unforeseen and involuntary event caused by external, visible and violent means. The rider pays only if death happens within 180 days of the accident and during the rider term.
Example: you hold an LIC endowment policy with ₹20 lakh sum assured and add ₹10 lakh of accident benefit. If you die in a road accident, your nominee receives ₹20 lakh plus bonuses from the base policy and ₹10 lakh from the rider.
Accident Benefit Rider at a glance
| Feature | Details |
|---|---|
| UIN | 512B203V03 |
| Available from | 1 October 2024 (current version) |
| What it pays | Accident benefit sum assured on accidental death |
| Claim condition | Death within 180 days of the accident, during the rider term |
| Entry age | 18 to 65 years (nearest birthday) |
| Cover ceases | At age 70 or end of the base policy, whichever is earlier |
| Minimum cover | From ₹10,000 (depends on rider version) |
| Maximum cover | Not above base sum assured; overall ₹1 crore (₹2 crore for some plans) |
| Premium types | Regular, limited or single, matching the base plan |
Eligibility
| Condition | Rule |
|---|---|
| Base policy | Must be an eligible LIC plan and remain in force |
| Minimum age | 18 years completed |
| Maximum entry age | 65 years |
| Maximum cover age | 70 years |
| Rider term | Same as base policy or up to age 70 |
| When to add | Usually at the start; later additions follow LIC’s rules |
How the rider premium is calculated
Rider premiums are a flat rate per ₹1,000 of accident cover. Our calculator uses the indicative rates in the source:
| Premium type | Rate per ₹1,000 cover |
|---|---|
| Regular premium | about ₹1.00 a year |
| Limited premium | about ₹1.20 a year |
| Single premium | about ₹8.00 once |
For half-yearly, quarterly or monthly payment, the yearly rider premium is split using modal factors (0.51, 0.26 and 0.087). No GST is added, as individual life policies and their riders are GST-exempt from 22 September 2025.
Worked examples (age 30, 20-year rider term, base policy ₹10 lakh):
- ₹5 lakh cover, regular premium: ₹500 a year, ₹10,000 over 20 years. That is about ₹100 a year per ₹1 lakh of cover.
- ₹10 lakh cover, regular premium, monthly: ₹87 a month.
- ₹10 lakh cover, limited premium for 10 years: ₹1,200 a year, ₹12,000 in total.
- ₹10 lakh cover, single premium: ₹8,000 once.
Your actual rider premium is set by LIC’s current table for your base plan and may differ slightly.
Tip: because the rate does not rise with age, the rider costs the same at 25 and at 55. But cover must end by 70, so an older buyer gets fewer years of protection for the same yearly price.
What is not covered
The rider does not pay for death from illness or natural causes, for accidents where death occurs after 180 days, or after the rider term ends. Like most accident covers it also has exclusions, such as self-inflicted injury. Read the rider clause in your policy document for the full list.
Accident Benefit Rider vs other LIC riders
| Rider | Pays on |
|---|---|
| Accident Benefit Rider | Accidental death only |
| Accidental Death and Disability Benefit Rider | Accidental death and accidental permanent disability |
| New Term Assurance Rider | Death from any cause during the rider term |
| Premium Waiver Benefit Rider | Waives future premiums if the proposer dies |
If you want extra cover for death from any cause, a term rider or a separate term plan is broader. Our term plan calculator shows what that would cost.
Who should add this rider?
- People who travel or commute a lot, where accident risk is higher than average.
- Families who want a large extra payout for a small cost on top of an existing savings policy.
- Buyers who cannot justify a full term plan but want some extra protection.
It is less useful if you already hold a large term plan with an accidental death cover, or if you would rather have disability cover too.
How to use this calculator
- Enter your age.
- Enter the accident benefit sum assured and the base policy sum assured (the rider cannot exceed it).
- Set the rider term so cover ends by age 70.
- Choose regular, limited or single premium, and the payment mode.
- Read the rider premium, instalment, total rider cost and yearly cost per ₹1 lakh. All figures are estimates; LIC’s quotation for your base plan is final.
Frequently asked questions
What does the LIC Accident Benefit Rider pay?
If the life assured dies because of an accident during the rider term, and death happens within 180 days of the accident, LIC pays the accident benefit sum assured as a lump sum. This is on top of the base policy's death benefit. Nothing is paid if the person survives or dies of other causes.
How much does the LIC Accident Benefit Rider cost?
Using the indicative rates in our source, a regular premium rider costs about ₹1 per ₹1,000 of cover per year. ₹5 lakh costs roughly ₹500 a year and ₹10 lakh about ₹1,000. A limited premium rider is about ₹1.20 per ₹1,000 a year, and a single premium about ₹8 per ₹1,000 once.
What is the maximum accident benefit sum assured?
It cannot exceed the base policy's sum assured. The overall limit is generally ₹1 crore across all your LIC policies with accident cover, and up to ₹2 crore for some high-value plans such as Jeevan Shiromani. The minimum starts at about ₹10,000 depending on the rider version.
Who can take the Accident Benefit Rider?
Anyone aged 18 to 65 (nearest birthday) who buys an eligible LIC base plan. Rider cover stops at age 70 or when the base policy ends, whichever comes first. It is usually chosen at the start of the policy; adding it later depends on LIC's rules.
Is the Accident Benefit Rider the same as the ADDB rider?
No. The Accident Benefit Rider pays only on accidental death. LIC's Accidental Death and Disability Benefit Rider also covers permanent disability caused by an accident. If disability cover matters to you, compare both before choosing.
Is GST charged on the rider premium?
Not any more. Individual life insurance policies, including their riders, are GST-exempt from 22 September 2025. Before that date, rider premiums attracted 18% GST, which is why older receipts show a higher total.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.