SUD Life Group Accidental Benefit Rider

UIN: 142B006V01 | Non-Linked Non-participating Group Rider

SUD Life Group Accidental Benefit Rider provides additional benefits in case of accidental death or accidental dismemberment of the insured member. The rider can be attached to Employer Employee Group and Non-Employer Employee Group along with our Group Term Life Insurance Schemes, provided 100% of the members of the base policy are covered under the rider policy at inception.

One Year renewable rider
Accidental Death Benefit
Accidental Dismemberment
Hassle free insurance coverage
Simple to enroll and administer
Allowing addition of new members at ease and seamless departure for existing ones

Buy SUD Life Group Accidental Benefit Rider

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What is SUD Life Group Accidental Benefit Rider?

Q: What is the Eligibility Criteria under the SUD Life Group Accidental Benefit Rider?

a) Age Minimum Entry Age: 18 years last birthday Maximum Entry Age: 65 years last birthday Maximum Renewal Age: 65 years last birthday b) Term: One Year Renewable Rider Scheme. To avail this rider, you have to be a member of any of our one year renewable group term plans. c) Payment Options: Annual/ Half-Yearly/ Quarterly and Monthly (As per base plan) d) Basic Sum Assured: Minimum offered: Rs. 10,000 per member Maximum offered: Rs. 50,00,000 per member; e) Group Size The Minimum Group Size shall be as given below. For Employer-Employee groups: 10 members For Non- Employer-Employee Groups: 50 members

Q: What is the grace period for premium payments under the SUD Life Group Accidental Benefit Rider?

Grace period is not applicable in case of renewal of contract as this rider will be sold in conjunction with one year renewable group term insurance schemes. However, in case of payment of premium in installment, grace period of 30 days is allowed for half yearly and quarterly frequency of premium payment and that of 15 days for monthly frequency of premium payment subject to the condition that the payment is to be made within policy term of one year. If contingency as defined earlier in the document, occurs during the grace period, the rider benefit will be payable after deduction of rider premiums then due and all the premiums falling due during that policy year.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Document

Premium Rates

How does the SUD Life Group Accidental Benefit Rider Work?

SUD Life Group Accidental Death and Dismemberment Rider will be extended as additional option. The maximum sum assured allowed under this rider is restricted to the sum assured under base plan and subject to the condition that the total annual premium for all riders (non-health) will not exceed 30% of the annual premium payable under the base plan.

1.Coverage

The plan is renewable annually and provides life cover to group members as long as premiums are paid regularly. Coverage begins when the policy is issued and remains active until the end of the policy term.

2.Accidental Death Benefit

On death of the insured member due to Accident, 100% of Rider Sum Assured, subject to Maximum ₹50 Lacs will become payable to the nominee provided the member is covered as on the date of death. The Cover for the member ceases immediately thereafter.

3.Maturity or Surrender Benefit

There is no maturity or surrender benefit available under this plan for the master policyholder or group members. However, if the group policy is surrendered, individual members can choose to continue their coverage as an individual policy until it expires.

4.Accidental Dismemberment

Rider Benefits Overview
Our Rider Benefit provides financial support based on specific events. A percentage of the Rider Sum Assured is paid to the insured member as follows:

Event Benefits
Loss of All Limbs: 100% of Rider Sum Assured
Loss of Sight of Both Eyes: 100% of Rider Sum Assured
Loss of Sight of One Eye: 50% of Rider Sum Assured
Loss of or Loss of Use of Two Limbs: 100% of Rider Sum Assured
Loss of or Loss of Use of One Limb: 50% of Rider Sum Assured
Loss of Speech and Loss of Hearing: 100% of Rider Sum Assured
Loss of Hearing in Both Ears: 75% of Rider Sum Assured
Loss of Hearing in One Ear: 15% of Rider Sum Assured
Loss of Speech: 50% of Rider Sum Assured

Continued Coverage
If a claim results in less than 100% payout, the rider cover continues for the remaining balance, as long as the member cover is active and premiums are paid.

Important Limitations
Total benefits will not exceed 100% of the Rider Sum Assured, with a maximum of ₹50 lakhs.

This rider ensures essential financial security during challenging times, supporting you and your loved ones when needed most.

SUD Life Group Accidental Benefit Rider Benefits

Here are the benefits that you get from the plan

Accidental Death Benefit

Why choose SUD Life Group Accidental Benefit Rider?

SUD Life Group Micro Term Insurance Plan is the ideal option for you because of the following points

This plan offers a low-cost life cover solution, ensuring economic security for group members and their families.
Unmatched Flexibility to customize suitable protection for the group
You can get accidental and dismemberment cover of up to Rs. 50 lakhs per Member by opting for the addon rider policy over and above the base policy.
Premiums paid under this plan are eligible for tax benefits as per applicable tax laws, helping you save more.
The plan is designed for easy policy management, making it a seamless solution for employers or group administrators.