Accidental death: Bandhan Life’s add-on cover
offers families protection up to ₹3 crore
Over the
past decade, India has significantly increased spending on safety. For
instance, Indian Railways’ safety budget rose from ₹39,463 crore in 2013–14 to
₹1,16,470 crore in 2025–26, while consequential train accidents declined from
135 in 2014–15 to 11 in 2025–26. However, risks remain, with 21,803 lives lost
in rail accidents in 2023, according to NCRB data. Stampedes, too, have claimed
over 3,000 lives between 2001 and 2022.
“Our 1.4
billion population may mask such statistics with low death rates. However,
conditions leading to such losses are part of our daily life, and require us to
account for them in our financial planning,” says Maneesh Mishra, Chief
Product and Marketing Officer, Bandhan Life. Bandhan Life’s recently
launched Linked Enhanced Accidental Death Benefit (ADB) Rider aims to provide
added financial protection against precisely such risks.
An
insurance rider is an optional add-on to an existing insurance policy that
modifies or expands coverage to better suit the policyholder’s specific needs.
The ADB rider specifically offers an additional payout to nominees if the
policyholder passes away due to an accident. It offers benefits in specific
accident scenarios, such as train or aeroplane accidents, or stampedes or fires
at large public/religious gatherings.
Bandhan
Life’s rider is available in two options: Premium and Classic. Under the
Premium option, policyholders can choose to receive a higher payout, up to 300%
of the rider sum assured, depending on the nature of the incident. The Classic
option allows policyholders to choose from 1 to 3 times of the base sum assured
up to ₹3 crore. The rider also offers significant flexibility. Policyholders
can add or detach the rider during the policy term and adjust the rider sum
assured based on their income, liabilities, or lifestyle needs—in case of
increased work travel, for instance.
“With the
Enhanced ADB Rider, our aim was to design a solution that reflects the
realities of everyday risks. Unfortunately, many families remain
under-protected against unforeseen events. Through solutions like the Enhanced
ADB Rider, we at Bandhan Life are committed to enabling our policyholders to provide
stronger financial protection for their loved ones, regardless of the
circumstances,” says Mishra.
Crucially,
the rider provides substantial additional protection at a nominal cost. The ADB
can be currently added to the iInvest Ultima plan, starting at ₹700 for a ₹10
lakh cover, and is available across all branches of Bandhan Bank. “With this
launch, Bandhan Life aims to provide customers with accessible, flexible
protection solutions that address real-world risk scenarios, thereby enhancing
financial security for families,” Mishra concludes.
Sources:
- NCRB's 2023 data: 21,803 killed
in rail accidents - The Economic Times
- Press Release:Press Information
Bureau
- Stampede Deaths in India – An
Avoidable Suffering - Foundation for Democratic Reforms
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