Exploring HDFC Life Accidental Disability Rider

If you're partially or permanently incapacitated as a result of an accident, this accidental disability rider can help you replace the income you'll lose as a result of your disability. You'll obtain a percentage (pre-approved) of the insured cash for a set period with this rider (five or ten years). This rider is usually offered in conjunction with the accidental death rider.

Accidental disabilities are all too often in today's fast-paced world. Because both of these scenarios result in significant financial loss, HDFC offers an Accidental Disability Benefit Rider that covers these two scenarios. The rider pays a reward if the insured dies or becomes disabled due to an accident during the policy's term.

Salient Features and Benefits of HDFC Life Accidental Disability Rider

• The rider can be added to a base policy either at the time of purchase or at any time throughout the policy's term.
• If the rider is purchased during the policy's term, the remaining premium payment period must be at least 5 years, and the insured must not reach the age of 70 during that time.
• The sum assured of the rider can be regarded to be the same as the sum assured of the basic policy.
• The rider allows for a maximum sum assured of INR 1 crore, which climbs to INR 2 crores if HDFC's Plan is purchased.
• The premiums paid towards the rider are tax deductible up to INR 1.5 lakhs under Section 80C of the Income Tax Act, and the death benefit received is totally tax-exempt under Section 10 of the Income Tax Act (10D).
• For both of these benefits to be paid, the accident must be a "sudden, unanticipated, and involuntary event induced by external, violent, and visible means" that results in death or disability within 180 days of the accident.

Exclusions under HDFC’s Accidental Disability Benefit Rider

The rider will not cover death or disability caused by the following events, and no rider benefits will be given in the following cases:

• If the injury was caused by oneself.
• A suicide attempt has been made.
• The accident occurred as a result of a mental imbalance caused by insanity or intoxication from alcohol, narcotics, or drugs.
• The insured took part in riots, civil uprisings, proclaimed or undeclared wars, or adventurous sports like paragliding, bungee jumping, river rafting, mountaineering, racing, and so on.
• While committing an illegal conduct with the goal of committing a crime, such as robbery, stealing, or engaging in any other anti-social behaviour.
• If a disability or death has resulted from military duty. The exclusion, however, will not apply if the covered person was not on duty or combating a natural disaster.

Documents Required For The Rider Claim

The following documents should be supplied in the event of a claim under the rider in order to collect the claim amount swiftly and conveniently.

• Certified copies of the FIR and the report of the police inquest
• Panchnama is a copy of the Panchnama.
• The insured's post-mortem report
• An accident report is seen in a newspaper clipping.
• If the accident occurred while the insured was driving, the driver's licence will be suspended.
• The Sub-Divisional Magistrate's final decision regarding the death. 
• In the event that the accident resulted in hospitalisation, keep track of your medical documents.
• Eye witness reports, attending physician's reports, affidavits of gramme sevaks or government officials, and other documents may be necessary in cases where a police FIR is not required.

Take Away

The Accidental Disability Benefit Rider from HDFC makes it easier for the insured person and his family to deal with this terrible scenario. This rider can be added to the standard policy for a little fee, and the benefits can be used in the event of an emergency in the future, before the rider's maturity.

Also Read: Features of Riders In Insurance

Accidental Death Benefit Rider And Its Benefits

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.