Rider v/s Standalone

Publication details: Money Manager – CNBC Bajar – 18-08-2015

Responses, opinion and view from Kartik Jhaveri.

Question sent by Hitesh Desai:-

My age is 35 years. I recently applied for a Max Life term plan with a cover of Rs. 50 lakhs. They also offer accident benefit in this plan.

So do I need to buy a separate accident policy?

And if I have term plan with accident benefit and a separate accident policy, then in case of an accident can my family claim the benefit from both the policies?

Advice given:

1. Either ways you will get the benefit of accident insurance policy.
2. With your term plan this will be a rider benefit.
3. Accident policy is a stand alone policy from a general insurance company. This may have other benefits for disability etc. I would suggest you buy this separately.