I was reading about the derivation of wavefunction of Hydrogen atom from Atkins book. After the separation of variables and writing the wave function, $\psi_{(r,\theta,\phi)}=R_{(r)}Y_{(\theta,\phi)}$, and further solving the equation, they reach the expression of potential as
$V_{eff}=-\frac{Ze^2}{4\pi\epsilon_0r}+\frac{l(l+1)\hbar^2}{2\mu r^2}$
The first term $(-\frac{Ze^2}{4\pi\epsilon_0r})$ represent the electrostatic potential between the electron and the proton. I am not able to understand the interpretation of the second term $(\frac{l(l+1)\hbar^2}{2\mu r^2})$. In book it is written that it arises from centrifugal effect.
Also why the second term is considered in the potential as potential is defined for a conservative force field? I know that second term in potential comes in picture as a result of the derivation. But the second term doesn't make sense to me as in Bohr's model, in the expression of the potential we only consider the electrostatic potential. Please explain about the second term in potential.