What is Term Rider ?

Let us see the example of Jeevan Anand Plan of Sum Assured 10 lacs 

LIC's New Term Rider is an add on benefit. It is a type of plan which can be attached with a basic policy to provide add on benefit at a nominal cost. LIC's New Term Assurance Rider works as a protection plan which provides additional cover along with the cover in basic plan in case of the unfortunate death of the assured during the cover period.

Ex.

•  If you purchase Jeevan Anand plan of Sum Assured 10 lacs with accident benefit then in case of the unfortunate Natural death of the assured during the cover period nominee will get Sum Assured 10 lacs plus bonus.
• If you purchase Jeevan Anand plan of Sum Assured 10 lacs with accident benefit then in case of the accidental death of the assured during the cover period nominee will get  20 lacs plus bonus.
• If you purchase Jeevan Anand plan of Sum Assured 10 lacs with accident benefit and with term rider of 10 lacs then in case of the natural death of the assured during the cover period nominee will get  20 lacs plus bonus.
• If you purchase Jeevan Anand plan of Sum Assured 10 lacs with accident benefit and with term rider of 10 lacs then in case of the accidental death of the assured during the cover period nominee will get  30 lacs plus bonus.

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