What are insurance riders

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In Insurance terms Riders are additional but optional benefits that can be included to your basic policy to enhance your policy depending on your choice.

There is an extra cost that one needs to pay for rider.

Riders are always attached to the basic policy and they cannot be purchased separately.

Following are few of the popular riders available in the Indian Life Insurance market.

  • Accident and disability rider

In the event of accidental death if accidental death rider is opted, extra Sum Assured is paid to the nominee apart from basic Sum Assured.

If accident results in the disability then depending on the disability, part of the Sum Assured is paid to the life assured.

  • Critical illness rider.

In the event of critical illness such as heart attack, stroke, and cancer. The policy holder will receives S.A or part of SA if he survives such illness for 30 days from date of diagnosis.

List of Illness depends based on the preference of insurer.

  • Premium Waiver Rider

In certain events like person getting completely disable, or in case of child policies if parent dies all the future premium is waived.

Depending on your insurers there are many other riders available, they are best way to enhance the feature of your policy.

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