Prices Increasing Soon
Life insurance riders are optional, and additional benefits can be added to a life insurance plan to cover various risks, like critical illnesses, accidental death, etc. Life insurance riders can vary by insurer and type of policy, and they come at an additional cost. Let’s discuss life insurance riders more here.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Riders are additional benefits or add-ons that you can opt for along with your current life insurance plan at low premium rates. Life insurance riders are important financial tools that help you increase your life insurance plan coverage.
Different insurance companies provide different benefits with their life insurance riders and therefore, you must wisely read all terms and conditions before adding them to your base plan.
Term Plans
The Terminal Illness Rider allows the policyholder to avail of benefits if he/she is diagnosed with a terminal illness. In this case, the accelerated death benefit allows the family/loved ones of the ailing policyholder to get a sum of the life cover in advance to pay the medical expenses.
The accidental death benefit can be added to all life and term insurance plans. However, when you purchase an accidental death benefit rider, the insurance company pays up to double the sum assured to the policyholder’s nominee in case he/she dies due to an accident.
In the unfortunate event of disability, the Accidental Total and Permanent Disability Rider offers financial protection. This rider must be chosen according to the actual need and not accidentally, i.e. when you buy the term insurance plan.
The term life insurance with Critical Illness Rider benefit is paid in case the policyholder gets diagnosed with any of the critical illnesses mentioned in the policy document, like cancer, kidney failure, heart attack, etc. In such cases, the critical illness sum assured is paid. This benefit acts as an income replacement plan because the money received under the rider can be used to fulfill both household and medical expenses. The critical illnesses covered under the plan may vary from one company to another.
The Waiver of Premium rider benefit ensures that the life insurance plan remains active if you cannot pay your premiums. The effect of this plan would waive off all the future premiums but the policy benefits will be continued. This rider benefit also extends to partial and permanent disability.
Under the HospiCare Rider, the policyholder gets to avail the benefit of his/her hospitalization as per the terms and conditions of the plan. Many insurance companies provide a certain percentage of the life cover as benefit upon admission of the policyholder in a hospital and then double the amount if the policyholder is admitted to the ICU.
Secure Your Family Future Today
₹1 CRORE
Term Plan Starting @
Get an online discount of upto 15%#
Compare 40+ plans from 15 Insurers
There are a number of benefits offered by the rider to enhance the coverage of the existing term plan:
Enhanced Protection: One of the most important reasons to add riders to your life insurance plan is that you want your loved ones safe from more than one risk. No doubt, death is the ultimate cause of a family’s financial problems. But, life-threatening illnesses, accidental disabilities along with expensive treatments equally destroy your life. So, adding riders to your life insurance policy adds more protection to the plan and secures your family’s future.
Extra coverage: By adding a rider to a base life insurance plan, one can enjoy extensive coverage. For example, a critical illness rider benefit pays a lump sum amount which can be used in loan EMIs, household expenditures, and other financial liabilities.
Flexibility: You can attach a rider to any of your life insurance plans i.e., Term, ULIP, whole life, endowment and customize your plan as per your requirements.
Affordability: Adding a rider is much more economical than purchasing an individual insurance plan. Additionally, there are several types of riders which one can choose as per their requirements. So, it becomes easy to provide coverage at low premium rates.
Tax Benefits: Riders are add-ons to the life insurance plans. Therefore, payments towards insurance riders also enjoy tax savings benefits as per the prevailing income tax laws.
Insurance riders are sold individually from insurance plans at the same time when you buy the base plan. For example: When you buy term plan from an insurance company, you can also select the riders from the list of options provided by the insurer. However, the riders cannot be attached after the plan is bought. It is important to take time to evaluate whether or not investing in an insurance rider is beneficial. While some insurers have in-built rider benefits in the standard life insurance plans, others have flexible policies, which can be personalized according to your requirements.
Choosing the right life insurance rider can be an important decision for ensuring that you have the right amount of coverage for your needs. Here are some steps you can take to choose the best life insurance rider for your situation
Determine your financial Requirements: Life insurance plans come with a wide variety of add-ons or riders. Some options of riders available are term life insurance with Critical Illness Rider, Accidental total and permanent disability, accidental death benefit, waiver of premium, accelerated death benefit, and hospi-care rider. Each insurance rider has different purposes as per its features, so it is important to identify the purpose of the rider before purchasing the right cover.
Research your options: Different life insurance riders provide different types of coverage, so it's important to understand what each one offers. Common riders include accidental death benefit, accelerated death benefit, and long-term care.
Consult with an insurance agent or financial advisor: These professionals can help you understand your options and determine which riders might be best for your needs. They can also provide information on the costs associated with each rider.
Consider the cost: Riders can increase the cost of your life insurance policy, so it's important to consider the cost in relation to the benefits. Make sure you can afford the premiums associated with the rider.
Review your policy’s terms and conditions: As your needs and circumstances change, you may need to adjust your life insurance coverage. Periodically reviewing your policy and riders can help ensure that you have the right amount of coverage for your current situation.
It is always good to know what your insurance company has to offer so that you can receive the most of your life insurance plan and take advantage of the cost-effective add-on benefits. It is also suggested to analyze and research possible insurance riders that can help meet your requirements.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
© Copyright 2008-2025 policybazaar.com. All Rights Reserved
+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
Life insurance fraud is a financial crime that can be committed
Read more
High net worth individuals often opt for life insurance plans to
Read more
“Policy Bazaar insurance clarified the term policy for me, so
Read more
“I recently bought an HDFC term plan and it is the best
Read more
The life insurance policy in India is a type of life insurance
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
