Life can be unpredictable and hit you when you least expect it. Although we try to prepare ourselves with life insurance plans, there are times when that is not enough. There are some situations that a basic life insurance plan does not cover.
 

Let us understand all about rider^# insurance and the types of riders^# in insurance.
 

What is a Life Insurance Rider^#?
  

The rider^# in insurance is an additional modification or provision that is included in your base life insurance plan to enhance the coverage of the life insurance policy. It is an added protection against certain risks and often comes at an additional cost. Life insurance riders^# are an effective addition to your life insurance plans as they make the coverage broad and robust at an economical rider^# premium.

 

Now that we understand the rider^# meaning in insurance, let us understand the types of riders^# in insurance.
 

Types of Riders^# in Insurance
 

To enhance life insurance coverage, here are the types of riders^# that you can include in your plan:
 

• Accidental Death and Dismemberment Rider^#
  
  There can be unfortunate accidents that might lead to death or disability. This can affect the family of the provider. With accidental death and dismemberment rider^#, the sum assured that received will help the family with their day-to-day expenses. You can include this rider^# in your life insurance plan at an affordable rider^# premium, and it will help you receive a benefit when the need arises.
  
  
• Critical Illness Rider^#
  
   
  With a critical illness rider^#, you will receive a lump sum benefit if you are diagnosed with any of the critical illnesses specified in the policy. Some of the common critical illnesses include cancer, kidney failure, heart attack, paralytic stroke, etc. There is no specific way in which you need to spend the rider^# benefit that you have received. You can use it for your medical expenses, daily needs, or to pay off debts, depending on your preferences.
  
  
• Terminal Illness Rider^#
  
  Under the terminal illness rider^#, the rider^# benefit is paid if the policyholder is diagnosed with one of the terminal illnesses specified under the plan or due to the early death of the policyholder due to the terminal illness.
  
  
• Waiver of Premium Rider^#
  
  If the primary provider of the family suffers a total and permanent disability or death, the finances of the family can suffer. The inability of the family to pay the upcoming life insurance premium can lead to a lapse in the life insurance plan. With a waiver of premium rider^#, if you suffer from an accidental disability, all the future premiums of your life insurance plan will be waived off, and the policy will continue to be active.
  
  
• Family Income Benefit Rider^#
  
  With this rider^#, your family will receive a steady income in case of death or disability. The number of years for which you need the income will have to be specified at the commencement of the life insurance policy.
   

Benefits of Riders^# in Insurance

 

Insurance riders^# are one of the top ways to enhance the coverage of your life insurance plan at an affordable premium. But, there are many other benefits of riders^# in insurance; these include:
 

• Rider^# insurance provides additional coverage to the policyholder, which can prove to be crucial in times of need. For example, a waiver of premium rider^# can be helpful if the policyholder suffers a total and permanent disability and is unable to pay any future premiums.
• If you are looking to enhance the coverage of your policy, including a rider^# in your life insurance plan is more affordable than buying a separate policy. And since choosing life insurance riders^# depends on you, this is a more cost-effective way.
• You can make use of the tax* benefits available on the life insurance riders, just like a base plan, depending upon the tax* laws.
• With a life insurance rider^#, you can customise the policy as per the needs of yourself and your loved ones.
   

Choosing the Right Rider^# with Your Life Insurance Plan
 

Riders^# provide coverage to you for specific situations. Therefore, you must assess your needs to understand the type of rider^# you need. Riders^# come at an additional cost, therefore, you must take that into consideration.
 

At Tata AIA life insurance company, there are various riders^# available that you can choose with your offline and online life insurance plans. You can go to the website, understand each rider^# and choose one that suits your requirements.
 

Conclusion
 

A life insurance plan is one of the apt ways to protect and secure your loved ones. When you include life insurance riders^# in your policy, it enhances the efficacy of the policy. But, before you choose the riders^#, ensure that you read the terms and conditions carefully. Every rider^# has some exclusions and inclusions that you must know beforehand.

 

L&C/Advt/2022/Oct/2454