If policy assured dies due to accident during the policy period, additional amount equal to ADB Sum Assured shall be paid to nominee provided policy is in force and all due premiums are paid.
ADB rider is available with Mahalaxmi Endowment Plan, Mahalaxmi Saral Jeevan Beema, Double Endowment Plan, Mahalaxmi Barshik Dhanfirta Beema, Mahalaxmi Sawadhik-Ajeevan Beema, Mahalaxmi Jeevan Surakshya Beema and Lagani Firta Myadi Beema. In Mahalaxmi Sawadhik-Ajeevan Beema, this rider provides coverage till 70th birthday of the insured.
The ADB sum assured shall be equal to basic sum assured of base policy or 1,00,00,0000 (one crore) whichever is lower.
Conditions and Definitions:
1. “Accident” shall mean an event or contiguous series of events, which are violent, unforeseen, involuntary, external and visible in nature, which causes Bodily Injury.
2. “Accidental Death” shall mean death:
a. which is caused by Bodily Injury resulting from an Accident and b. which occurs due to the said Bodily Injury solely, directly and independently of any other causes and c. which occurs within 183 days of the occurrence of such Accident but before the expiry of the cover.
3. “Bodily Injury” means Injury must be evidenced by external signs such as contusion, bruise and wound except in cases of drowning and internal injury.