A term insurance plan provides the lump sum death benefit to the family in case of your unexpected demise due to: 1. Natural death, 2. Health issues, 3. Natural calamities, 4. Accident. Click the Tata AIA blog to learn more about accidental death coverage and accidental death rider in a term plan.
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Purchasing a term insurance plan is considered a valuable backing to help your loved ones overcome financial challenges in your absence. Under the plan, a lump-sum death benefit is provided to your nominees in case of your unexpected death.
However, death can occur due to varied reasons. One of these reasons is accidental death. According to the National Crime Records Bureau, India recorded a total of 3,74,397 accidental deaths in 2020, out of which road accidents contributed to 1,33,201 deaths and 3,35,201 instances of injuries, bringing the total to 3,54,796 cases.
Have you ever wondered if your term plan covers accidental death? Well, accidental deaths are covered in a term plan as rider# options. So, what is the term plan accidental death cover? Let us understand the meaning, benefits and ways to include it in your term insurance plan.
Accidental death is considered differently by the insurance providers. They provide the sum a-sured to the nominee in case of the policyholder's accidental death. However, some insurers provide an optional rider# benefit to cover accidental deaths. It provides additional death benefit funds apart from the sum a-sured.
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