What Are Riders In Term Insurance?

There are certain riders in term insurance which are explained below. Most of these riders are taken in addition to the existing base term insurance plans to increase the life coverage.

• Accidental Death benefit rider which provides the claim benefit to the nominee in case of death of the death of the policyholder due to an accident in addition to the base sum assured as mentioned in the policy.
• Accidental total permanent disability rider which provides claim benefit to the policyholder in case of total & permanent disability of the policyholder due to an accident.
• Critical illness rider which provides the critical illness claim benefit to the policyholder on diagnosis with any of the listed critical illness. The policyholder has to satisfy the waiting period to avail the benefit under critical illness rider.
• Waiver of premium rider which waives off all the future premiums payable by the policyholder in case of accidental total permanent disability or critical illness to the insured customer.