Key Features

You can add a Max Life Comprehensive Accident Benefit Rider to your life insurance policy to provide additional protection against an unfortunate accident. This rider provides additional protection benefits in case you meet with an accident, leading to dismemberment or death. The benefits under this rider are payable over and above the base plan benefits.


Rider Benefit

On death or dismemberment to the Life Insured due to accident, provided the rider is in force, the Rider Sum Assuredshall be paid as lump sum along with base policy death benefit(s).

Maturity/Survival Benefit

No maturity or survival benefit is payable under this rider.

How it works


Mr. Kumar is a 35-year-old salaried professional, is married, and the couple has a 4-year-old child. He is a
responsible individual who always takes care of his family. In order to plan for his family’s financial security,
he buys Max Life insurance policy (Rs. 50 lacs sum assured with 20 years term), on his life with nominee as
his wife. Further, in order to ensure additional protection against accident, he also buys Max Life
Comprehensive Accident Benefit Rider (Rs. 20 lacs sum assured with 20 years term) at a nominal incremental
Here are the following scenarios that can occur during the course of the policy of Mr. Kumar,

  • Kindly note that the above scenarios are only examples and do not in any way create any rights and/or obligations.
  • You may be entitled to certain applicable tax benefits on your premiums and Rider benefits. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax consultation.
  • Extra premium will be charged for substandard lives as per company’s underwriting policy.


Entry Ages (Age as on Last Birthday) Minimum: 18 years
Maximum: 60 Years
Maximum Maturity Age (Age as on Last Birthday) 75 years
Rider Term 10 years to 35 years. The term of the rider shall be equal to or less than the term of
the base plan
Premium Payment Term Same as Rider Term
Premium Rate Rs. 63 per Lac of Sum Assured. The premium rate does not vary with the age or
gender of the Life Insured.
Minimum Sum Assured Rs. 50000
Maximum Sum Assured Rs. 1 Crore per life (subject to a maximum sum assured under the base plan).

Surrender Value


The rider does not offer any surrender value


Loan facility is not available under this rider.


In case of non-receipt of any premiums up to the expiry of grace period, the rider will lapse and no benefits shall be payable.
Once the rider has lapsed, it can only be revived within a revival period of two years from the due date of first unpaid premium subject to the following conditions:

  • The policyholder giving the Company a written request to revive the rider; and
  • Policyholder paying all overdue premiums, together with interest and / or late fee determined by the Company from time to time (currently 8.0% per annum);
  • The Policy holder producing an evidence of insurability at his/her own cost which is acceptable to the Company; and
  • The revival of the rider shall take effect only after revival of the rider is approved by Max Life Insurance basis the Board-approved Underwriting Policy and communicated to the policyholder in writing.

If a lapsed rider is not revived within two years or before the expiry of rider term, whichever is earlier, the rider shall be terminated and no value is payable to the policyholder. The revival of the rider shall take effect only if the base policy is in force or has been revived (if it was lapsed).

Discontinue Paying Premium

In case the premium is not paid by the premium due date, a Grace Period of 30 days from the due date (15 days in case of monthly mode) of first unpaid premium will be allowed. During this Grace Period, the risk cover will continue.Post that the rider will lapse.