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Riders Guide

Term Insurance Riders Explained Simply

Enhance your term insurance coverage with riders. Learn about critical illness, accidental death, waiver of premium, and other add-ons that provide comprehensive protection.

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What are Term Insurance Riders?

Riders are optional add-ons to your base term insurance policy that provide additional benefits at an extra cost. They work like toppings on a pizza - the base policy is your protection, and riders add extra layers of security for specific situations. Most riders cost only 5-25% extra premium but can significantly enhance your coverage.

6+

Rider Types

5-25%

Extra Premium

High

Value Addition

Types of Term Insurance Riders

Recommended
Critical Illness Rider
Pays a lumpsum amount if you're diagnosed with any of the specified critical illnesses like cancer, heart attack, stroke, kidney failure, etc. This amount is paid regardless of your medical expenses and is in addition to the death benefit.

Benefit

Lumpsum payout on diagnosis

Premium Impact

Additional 15-25% of base premium

Covers:

CancerHeart AttackStrokeKidney FailureMajor Organ TransplantParalysis
Recommended
Accidental Death Benefit Rider
Provides additional payout if death occurs due to an accident. This is over and above your base sum assured. Some plans also cover permanent disability due to accident.

Benefit

Extra payout for accidental death

Premium Impact

Additional 5-10% of base premium

Covers:

Accidental DeathPermanent Total DisabilityPermanent Partial Disability
Recommended
Waiver of Premium Rider
Future premiums are waived off if you become permanently disabled or are diagnosed with a critical illness. Your policy continues with full benefits without any premium payment.

Benefit

No future premiums on disability/illness

Premium Impact

Additional 5-8% of base premium

Covers:

Permanent DisabilityCritical Illness
Family Income Benefit Rider
In case of death, this rider provides monthly income to your family in addition to the lumpsum death benefit. The income is typically 0.5-1% of sum assured per month for 10-15 years.

Benefit

Monthly income for family

Premium Impact

Additional 10-15% of base premium

Covers:

Death during policy term
Accelerated Death Benefit Rider
If diagnosed with a terminal illness with limited life expectancy (usually less than 12 months), you receive a portion of the sum assured while you're still alive. This helps with medical expenses and final arrangements.

Benefit

Early payout on terminal illness

Premium Impact

Usually included in base plan

Covers:

Terminal Illness
Accidental Disability Rider
Provides financial support if you become disabled due to an accident. Coverage includes permanent total disability, permanent partial disability, and temporary total disability.

Benefit

Payout for accident disability

Premium Impact

Additional 3-7% of base premium

Covers:

Permanent Total DisabilityPermanent Partial Disability

Which Riders Should You Choose?

Budget Option

Minimal additional cost

  • Accidental Death Benefit
  • Terminal Illness (usually included)

Good for those starting their financial journey with limited budget.

Recommended
Balanced Option

Best value for most people

  • Critical Illness Rider (₹15-25L)
  • Accidental Death Benefit
  • Waiver of Premium

Comprehensive coverage at reasonable cost. Suitable for most families.

Complete Protection

Maximum coverage

  • Critical Illness (₹25-50L)
  • Accidental Death (High Cover)
  • Waiver of Premium
  • Accidental Disability

For those who want complete protection against all major risks.

Frequently Asked Questions

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Enhance Your Coverage Today

Add the right riders to your term insurance for comprehensive protection. Calculate your premium with various rider combinations.

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