LIC's New Term Assurance Rider provides for life cover in case of unfortunate death of the insured during the cover period. It can be attached with a basic policy to provide add-on benefit at a nominal cost. This rider shall only be attached with Non-Linked plans at the inception of the base policy.
Death Benefit: In case of unfortunate death of the life assured during the term of the Rider, an amount equal to the Term Assurance Rider Sum Assured shall be payable.
Maturity Benefit: On survival to the end of the term of the Rider, nothing shall be payable