FAQs for Shriram Accidental Death & Disability Rider
What is the maturity benefit under the Shriram Life Accidental Death and Disability Income Rider?
There is no maturity benefit payable under the Shriram Life Accidental Death and Disability Income Rider.
What instances are covered under the Shriram Life Accidental Death and Disability Income Rider?
Shriram Life Accidental Death and Disability Income Rider cover accidental death and accidental total and permanent disablement suffered during the term of the rider.
What is the maximum term of the Shriram Life Accidental Death and Disability Income Rider?
The maximum term under the Shriram Life Accidental Death and Disability Income Rider is 25 years or until you reach the maximum maturity age under the rider i.e. 70 years, whichever is earlier.
Can I claim both disability and death benefits under the Shriram Life Accidental Death and Disability Income Rider if the insured passes away after suffering from disablement?
You cannot claim both disability and death benefits if the insured passes away after a disability. Granting disability benefits automatically cancels the accidental demise benefit rider option under the Shriram Life Accidental Death and Disability Income Rider policy. Thereafter, you cannot make further claims.
What are the waiting period under the Shriram Life Accidental Death and Disability Income rider?
There is no waiting period for the Shriram Life Accidental Death and Disability Income Rider. The coverage starts from the first day of the rider.
What if I do not pay the premiums of the Shriram Life Accidental Death and Disability Income Rider on time?
If you do not pay the premiums of the Shriram Life Accidental Death and Disability Income Rider on time, the coverage will not lapse. An additional period called the grace period is provided for payment of unpaid premiums. If you do not pay the premium within the grace period also, the rider coverage would stop and the rider would lapse.
What are the grace period under Shriram Life Accidental Death and Disability Income rider?
The grace period under the Shriram Life Accidental Death and Disability Income Rider would be as per the grace period under the base life insurance policy. Usually, a period of 15 days is allowed under the monthly premium payment frequency and for other frequencies, the grace period is 30 days.
Can I buy Shriram Life Accidental Death and Disability Income rider along with other riders in one life insurance plan?
You can buy Shriram Life Accidental Death and Disability Income rider in addition to two riders with a life insurance policy. There is no restriction on the number of riders that you can add.
Who will receive the benefits under the Shriram Life Accidental Death and Disability Income Rider?
In the case of accidental demise, the nominee appointed by the life insured will receive the benefits under the Shriram Life Accidental Death and Disability Income Rider. However, in the case of a permanent disability, the benefit will be paid to the policy holder.
What will be the maximum rider tenure if I buy the Shriram Life Accidental Death and Disability Income rider for my father aged 53 years?
The maximum rider tenure under the Shriram Life Accidental Death and Disability Income Rider will be 17 years. Your father will get coverage until 70 years of age since the maximum age at maturity of the rider is 70 years.