Upon payment of an additional premium of only Re.1/- per annum against a sum assured of Rs.1000/-, you could opt for a very attractive Double Accident Benefit.
The benefit provides for the payment of an additional amount equal to the sum assured in the case of death of a policyholder owing to any accident. The death claim under Double Accident Benefit becomes double of the normal claim.
If owing to an accident, a permanent and total disability occurs to the life assured, all the subsequent premiums are waived off and the policy is still kept in full force. Additionally, LIC will pay the policyholder an amount equal to the original sum assured through monthly installments spread over 10 years. Upon maturity of the policy, the sum assured and the accumulated bonus amount is payable as well.
To be eligible for this benefit, the policy should be in full force for the full sum assured before the policy anniversary and the life assured must not be over 70 years of age either.
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