What Are Riders?
Riders are optional add-on benefits attached to your base LIC policy. Think of them like upgrades — your base policy is the main dish, riders are the extras.
All LIC Riders at a Glance
*Approximate costs. Actual rates depend on the specific plan, age, and rider SA. Not all riders are available on all plans.
ADDB Rider — Accident Death & Disability Benefit
Nominee receives base policy death benefit + ADDB SA (essentially double the SA)
Example: ₹10L SA → Family gets ~₹22.5L + bonus
ADDB SA paid in monthly instalments over 10 years
Future ADDB premiums waived
Base policy continues as normal
| Cost | ~₹1 per ₹1,000 SA per year |
| For ₹10L SA | Only ~₹1,000/year extra |
| Max ADDB SA | Typically ₹50 Lakhs |
| Age Limit | Up to age 70 (rider terminates) |
| Available On | Most endowment, money back, and whole life plans |
Critical Illness Rider
Pays a lump sum on diagnosis of specified critical illnesses. The money can be used for treatment, recovery, or lost income.
| Cost | ~₹2-3 per ₹1,000 SA/yr (varies by age) |
| For ₹10L SA | ~₹2,000-3,000/year extra |
| Payout | One-time lump sum on diagnosis |
| After Claim | CI rider terminates; base policy continues |
Premium Waiver Benefit Rider
If the policyholder suffers permanent disability due to accident, all future premiums on the base policy are waived. The policy continues with full benefits as if premiums are being paid.
Cost: ~₹1-2 per ₹1,000 SA/year. Particularly useful for single-income families where the policyholder is the sole earner.
Which Riders Should You Add?
| Rider | Annual Cost | Worth It? |
|---|---|---|
| ADDB | ~₹1,000 | ⭐ YES |
| Critical Illness | ~₹2,500 | ✅ YES |
| Premium Waiver | ~₹1,500 | Good option |
| Total Rider Cost | ~₹5,000/yr | ~₹420/month |
For just ₹420/month extra, you get accidental death cover (double SA), critical illness protection, and premium waiver. That's less than the cost of two cups of chai a day!
*Approximate costs. Actual rider premiums depend on plan, age, and rider SA selected.
💡 Expert Tip (Haresh Hirapara): I always recommend ADDB on every LIC policy — it costs just ₹1/1000 SA and doubles your death benefit on accident. Road accidents are a leading cause of death in India, making this rider extremely valuable. For Critical Illness, it depends on your family health history — if there's a history of cancer or heart disease, definitely add it. One important thing: riders can only be added at purchase time, not later. So decide upfront. The total rider cost is usually less than 5% of your base premium. Consult your LIC agent about which riders are available on your chosen plan.
Frequently Asked Questions
This article is for educational and informational purposes only. LIC-Calculator.com is not affiliated with LIC of India. Rider costs, features, and availability are approximate and based on publicly available information. Actual rider terms and conditions may vary by plan. For official rider details, visit licindia.in or consult your LIC branch.
This is not financial advice. Please consult a certified financial advisor before choosing riders for your policy.