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Life Insurance Riders

Avail additional coverage for unforeseen risks with Tata AIA Life Insurance Riders.

life insuarance category image

 

When you want to provide the best for your family, you take care to earn and save enough money for the coming days. Then, for their safety and their financial security, you purchase a carefully chosen life insurance policy, so that, in your absence, they are able to lead a comfortable life and fulfil their dreams and goals. We know how well a life insurance policy can take care of your dear ones.

Life Insurance Riders

Avail additional coverage for unforeseen risks with Tata AIA Life Insurance Riders.

When you want to provide the best for your family, you take care to earn and save enough money for the coming days. Then, for their safety and their financial security, you purchase a carefully chosen life insurance policy, so that, in your absence, they are able to lead a comfortable life and fulfil their dreams and goals. We know how well a life insurance policy can take care of your dear ones.

Family Picture - Tata AIA Life Insurance Plans

But one question at the back of your mind will always concern you – what if there are other emergencies that either completely depletes the life insurance sum assured or creates a gap that the sum assured cannot fill?

Therefore, Tata AIA Life Insurance presents its offerings of linked and non-linked life insurance riders, which you can add to your life insurance plans for additional coverage against a range of unforeseen events and risks. So, let’s know more about life insurance riders now.  


What are Riders in Life Insurance Policy?
 

Riders^ or rider benefits are optional and additional covers that you can add to your life insurance policy to enhance the coverage of your base policy. These covers are offered along with life insurance policies but are not included as default under the policy you purchase, thereby allowing you to customise your policy basis your needs. In life insurance, the term used for these covers is known as riders, while in general insurance, the term is called add-on, but both the terms carry the same connotation.

You will need to pay an additional but nominal premium to include the rider and its benefits in your base life insurance policy. Before adding a life insurance rider to your life insurance plan, you will first need to identify your needs and the risks you want to protect yourself and your family from.

By adding the riders you need, you can ensure that your total premiums are affordable even as you enjoy comprehensive coverage against a number of risks and events such as hospitalisation expenses, critical illnesses, major and minor illnesses and injuries, accidental death, and disability and more. In addition, while rider benefits are generally paid out as a percentage of the sum assured, you can also choose to have your future premiums waived off with a waiver of premium rider.

What are the Different Life Insurance Riders?

When you purchase a life insurance policy, you get to choose the sum assured based on various factors such as your family’s current and future needs, your financial obligations, their future security, any emergency needs, the affordability of premiums, and so on.

However, unpleasant occurrence such as a critical illness or an accidental disability renders you incapable of paying your policy premiums or supporting your family. At such times, it is necessary to add an additional layer of financial support to your life insurance policy in the form of a rider. Below are the different types of life insurance riders that can help you protect your family from financial uncertainties at the cost of a nominal premium:

  • Term Rider

    A term rider is an optional and additional benefit that can be added to your insurance policy and helps increase the life cover under the policy. This rider pays out an additional lumpsum over and above the Base Plan Sum Assured on Death of the Life Assured.

  • Accidental Death

    The accidental death benefit rider offers financial coverage against the accidental death of the insured. Under this rider, the rider sum assured is paid out to the policyholder’s family as a lump sum if an accident or mishap leads to the policyholder’s death within the rider’s tenure. The benefit paid out is over and above the sum assured of the base plan.

  • Accidental Disability

    The accidental disability rider pays out a percentage of the rider sum assured for treatment and/or daily sustenance, in case the policyholder meets with an accident that leads to permanent, partial/total disability. The amount payable will be determined as per the insurer’s guidelines on the extent of injury or disability and the required compensation.

  • Longer policy tenure or whole life coverage - How is Your Life Insurance Premium Calculated?
    Critical Illness Rider

    A life insurance critical illness rider covers a set of critical illnesses or conditions to protect the policyholder from the financial implications, in case the policyholder is diagnosed with a critical illness covered under the rider. On the diagnosis of the critical illness, the policyholder and their family receive a lump sum payout for the treatment of the disease/condition.

  • Pre-existing health conditions as diagnosed - How is Your Life Insurance Premium Calculated?
    Waiver of Premium

    This rider, once added to the policy, can waive off future premium payments in case of the policyholder’s death, critical illness, or accidental total and permanent disability, depending on the risks covered under the rider. This rider keeps the base life insurance plan’s coverage active despite the non-payment of premiums so that the policyholder’s family can be secured with a life cover.


These life insurance riders can be added to any life insurance policy, be it a term insurance plan, a savings policy or a retirement plan. The riders may be Premium Paying Riders or Unit deducting riders based on the mode of payment of rider premium. In the case of premium paying riders, the rider premium needs to be paid upfront in addition to the base plan premium, while for linked policies, you may have premium paying riders or unit deducting riders (the premium will be deducted as units accumulated in your policy fund each month). Hence, while purchasing any life insurance policy and the riders, it is essential to know how to pay for your optional riders.
 

Why Are Life Insurance Riders Important?

It is always advisable to add one or more essential riders to your life insurance policy, even though they come at an extra premium. These are some of the points that highlight the importance of riders in insurance:

  • Choose income frequency | Tata AIA Life Insurance Company
    Additional Protection

    Many a times, it is possible that the sum assured of your base policy may not live up to the expectation of an unforeseen emergency.  Instead of resorting to borrowing money or going for loans, you can simply add one or more relevant riders to your policy at the time of policy inception so that you can protect yourself and your dear ones from financial hassles or the loss of income that comes along when tough times strike.

  • Choose from either a regular income plan or regular income plan | Tata AIA Life Insurance Company
    More Comprehensive Coverage

    If you opt for a simple and basic term insurance policy, it is true that you can avail of a high sum assured for very affordable premiums. However, pure term insurance plans offer a life cover, and the benefits are only paid out on the death of the insured. But you need to take into account certain risks such as accidental disabilities, emergency hospitalization or a major illness or injury for which you require additional coverage. Hence, instead of surrendering your term plan and losing a part of your benefits to fees and charges, you can simply opt for a suitable rider that covers emergencies and events that your pure term plan does not.

  • Choose any additional riders to increase the protective cover | Tata AIA Life Insurance Company
    Premium Waiver

    This rider helps you keep your policy active by waiving off premium in unforeseen circumstances.  You and your family can stop worrying about one major expense on your list, especially at a time when you are recovering from a critical illness or cannot provide for your loved ones owing to a total disability. Your life insurance plan will continue to protect you and your family until the end of the policy term.

  • Choice of Joint Life policy under single premium payment option | Tata AIA Life Insurance Company
    Single Policy

    With the help of a suitable rider benefit, you can add more value to your base life insurance policy in terms of coverage and rider benefits. This means you do not have to spend on a separate life insurance policy for the added coverage since you can avail of the same through a rider for an affordable premium. Moreover, the sum assured of riders is fixed, and hence, you need not worry about paying very high premiums. Additionally, managing more than one policy can get tedious after a while, whereas adding a rider to your base policy means you only have a single policy with comprehensive coverage to manage.


 

Benefits of Riders

  • Flexible premium payment options - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme
    Additional Cover

    An optional rider adds to your base sum assured and makes your policy coverage even more comprehensive by offering additional protection against unforeseen emergencies. Hence, even the treatment of critical illnesses, major illnesses and injuries, hospitalisation, accidental disability, and more can be conveniently handled without your family having to disturb the base policy’s sum assured.

  • Affordable Premium

    Riders can be added to your base life insurance policy for an additional but nominal premium. And to ensure that you do not end up paying hefty premiums on your insurance policy, you can carefully plan which riders you would like to add to your base plan. By doing this, you can avail of the desired coverage without having to overspend on the premium payment.

  • Flexible Choices

    Your insurer will offer flexible choices in riders, with each rider covering a range of emergencies and situations that call for financial assistance. That way, you do not have to opt for all the riders, leading to expensive premiums. Instead, you can simply select one or few necessary riders to ensure that you and your dear ones can be protected from any emergencies that are likely to strike.

  • Flexibility to Choose Plan Option - Highlights of Tata AIA Life Insurance Sampoorna Raksha Supreme
    Tax Benefits~

    Even though paying the rider premiums can mean an addition to your premium payments, you can benefit from tax deductions on the payment of the rider premiums. Health riders like critical illness, hospitalization riders are eligible for tax deductions under Section 80D while other riders are eligible for tax deductions under section 80 C of the Income Tax Act. This lets you avail of tax benefits on your riders as per the tax laws and your policy terms and conditions.

Riders available with Tata AIA Life Insurance

Tata AIA Vitality Health
A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V01)

Additional coverage against unforeseen events like accidental death, accidental disability, critical illnesses including cancer and heart conditions, terminal illnesses, and more
Tata AIA Vitality (Wellness Program)## - A comprehensive wellness program that helps you understand and improve your health thereby offering premium discounts on your policy basis the points earned
Option to receive the balance premiums on maturity$
Know More

Tata AIA Vitality Protect
A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V01)

Additional coverage against different risks such as hospitalisation, accidental disability and critical illnesses like cancer and cardiac arrests at minor and major stages, and more
Coverage against major ailments as well as major and minor illnesses or injuries along with multiple claim payouts
Tata AIA Vitality (Wellness Program)## - A comprehensive wellness program that helps you understand and improve your health thereby offering premium discounts on your policy basis the points earned
Know More

Tata AIA Non-Linked Comprehensive Protection Rider A Non-Linked,
Non- Participating Individual Health Rider (UIN: 110B033V02)

Additional coverage against unforeseen events like accidental death, accidental disability, critical illnesses including cancer and cardiac conditions, and terminal illnesses, and more
Flexibility to opt for pay outs as lumpsum/income, lifetime income to partner or waiver of premium
Option to receive the balance premiums on maturity$
Know More

Tata AIA Non-Linked Comprehensive Health Rider
A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02)

Additional coverage against different risks such as hospitalisation, accidental disability and critical illnesses like cancer and cardiac arrests at minor and major stages, and more
Coverage against major ailments as well as major and minor illnesses or injuries along with multiple claim payouts
Flexible choice of benefit payout as a lump sum, monthly income for 10 years, or lump sum and income for a fixed period
Know More

How to Choose the Perfect Life Insurance Riders?

Since there are many life insurance riders to choose from, it is essential to understand which riders will be most beneficial for you and your life insurance policy. However, since you cannot predict emergencies, here are some points to keep in mind while selecting a life insurance rider:

  • Your Requirement

    Each rider offered by your insurance provider tackles one or the other emergency. For instance, a waiver of premium rider will waive off all your future premium payments for the policyholder’s family in case the insured suffers accidental death or disability. On the other hand, a critical illness rider will cover you and your family in the event of a critical illness.

    Depending on your family history and the type of risks you and your family are exposed to, you can decide which life insurance rider will be most suitable for your policy. It is important to understand, identify the purpose of the rider and only then choose the ones that will be suitable for your emergencies.

  • The Rider’s Affordability

    Since you will have to pay an extra premium for each of the riders that you add to your policy, it is advisable to pick only the riders that are essential for you. Choosing a rider as per your needs can help you customise your policy more effectively. For instance, if you work in a risky environment, choosing an accidental death and disability rider may help increase your policy coverage while you pay only for the required rider and nothing more. Your life insurance policy stays active as planned with added coverage against any potential risks.

    This also keeps your total premium payment affordable since you are not paying for unnecessary and duplicate benefits. Reasonable premiums ensure that your policy is not at the risk of lapsation due to the non-payment of expensive premiums, which can, in turn, expose your family to financial uncertainties.

  • Inclusions and Exclusions

    Like your base insurance policy, your rider will also have certain terms and conditions. For instance, in the event of an accidental disability, you will be paid out a certain percentage of the rider sum assured. However, a closer look into the rider inclusions and exclusions will help you understand what percentage of the sum assured you could receive, depending on the severity of your disability.


Under some of the riders, you will be paid out the lump sum rider benefit to handle the financial implications. However, before purchasing the rider, it is advisable to understand its benefits so that when you are in a situation where the rider can protect you, it is less of a hassle for you to follow the process and claim the benefits.

Choosing a life insurance rider may not always be simple since no one really knows what challenges the future can bring. In some cases, you may buy a critical illness rider but, fortunately, never be afflicted by any unforeseen event such as a critical illness. However, the additional layer of protection provided by the rider is meant to safeguard you and your family from the worst-case scenario and is, therefore, necessary for your insurance policy. You may also check if the rider offers a return of Premium feature that returns the rider premiums if no rider claim has been made during the rider term.


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Frequently Asked Questions 

Do I need to have riders with my life insurance plan?

Yes, adding one or more essential riders to your life insurance plan can be beneficial for you and your family as it offers additional coverage against risks and events that are generally not covered by your life insurance plan.

For an additional but affordable premium to be paid, you can safeguard yourself, your family, and your finances from occurrences that can threaten your financial security.

What is the difference between life insurance riders and add-on covers?

Riders and add-on covers are both additional and optional benefits that you can add to your base policy for value addition. However, the terminology is different as riders belong to the life insurance category and add-ons belong to the general insurance category. Whether you purchase a rider or an add-on cover, you pay an extra premium to benefit from the extra coverage that your base policy cannot offer.

Which rider is best suited for a term insurance plan?

The choice of the rider benefit for a term insurance plan will come down to your needs and that of your family since no one else can decide which riders will be the best for your policy. Your choice of a rider will be based on two factors –

  • The risk you need protection from – eg: coverage against hospitalisation expenses, major and minor illnesses and injuries, critical and terminal illness, disability and so on.
  • Your need – Receive a lump sum amount to pay for huge expenses, a specified income payout to replace the loss of income or waiver of premium to keep the base policy active without the payment of premiums.

Do riders come at an additional cost?

Yes, riders carry an additional premium which will have to be paid along with the base policy premiums after the rider is attached to your policy. This makes it easier to handle the premiums since you only have to manage a single payment for extra coverage instead of two.

Is it better to opt for riders or a separate policy?

Having an additional policy means extra premium payments for each policy which can be quite expensive. Also, over a period of time, managing multiple policies can become quite troublesome, with multiple premium payments and different benefits to keep track of.

However, adding a rider to your existing life insurance plan can secure you against a range of specified risks covered under the rider. Each optional rider comes at an additional but affordable premium which enhances your policy coverage without the need for a new policy.

What are the main advantages of adding a rider to your policy?

These are some of the benefits of including a rider in your policy:

  • By adding a rider to your life insurance policy, you can increase or enhance your policy coverage.
  • Adding a rider to your policy is also more cost-effective as compared to purchasing multiple policies for additional coverage.
  • When you add suitable riders to your life insurance plan, you can avail of several benefits under one policy, such as coverage against critical illnesses, accidental disability, etc.

How to ensure that the riders do not make my life insurance premiums expensive?

When you add riders to your life insurance policy, you will need to pay an extra premium for each rider you add. However, if you add too many riders to your policy, the premiums may exceed your original plan. Hence, at the time of purchasing your policy, carefully plan which riders you would like to add to your life insurance plan as per your needs and your budget.

How do I file a claim for my critical illness rider?

If you have added a critical illness rider to your insurance policy, you can be protected against the cost of the treatment in case of a critical illness. When you are diagnosed with a critical illness listed under the rider, you will need to provide the diagnosis report / treatment papers as applicable to your insurance provider to claim the critical illness benefit.

This benefit will be paid out to you in a lump sum and will help you cover not only the cost of your treatment but also the loss of income during your treatment and recovery phase.

How does the waiver of premium rider work?

By adding the waiver of premium rider to your life insurance policy, your future premium payments can be waived off in case of your death or Critical illness or accidental disability. For the waiver of premium rider to be effective, the proof of your death or disability needs to be provided, after which you or your family can be relieved from the stress of paying the policy premiums even as the policy continues to offer life cover protection to your loved ones.

Can I get tax benefits on my life insurance rider?

Yes, if you add a health rider or a critical illness benefit rider to your life insurance policy, then you can benefit from tax deductions on the rider premiums paid towards the policy under Section 80D of the Income Tax Act.

Disclaimer

  • The full name of Tata AIA Non-Linked Comprehensive Protection Rider is Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B033V02)

  • The full name of Tata AIA Non-Linked Comprehensive Health Rider is Tata AIA Life Insurance Non-Linked Comprehensive Health Rider - A Non-Linked, Non- Participating Individual Health Rider (UIN: 110B031V02)

  • $At the time of purchase, if the policyholder chooses to opt for a Return of Balance Premium option with Tata AIA Vitality Protect and Tata AIA Vitality Health, an amount equal to the Total Premiums Paid towards the respective benefit option (excluding loading for modal premiums), less any claim amount already paid out under the respective benefit option and any premium discounts availed under the Wellness Program as premium discounts or premium cashback, shall be payable at the end of the benefit option term, provided the benefit option is not terminated.

  • ^Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/Intermediary/ branch.

  • ~Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implications mentioned anywhere on this site. Please consult your own tax consultant to know the tax benefits available to you.

  • ##Vitality is a trademark licensed to Tata AIA Life by Amplify Health Assets PTE. Limited, a joint venture between Vitality Group International, INC. and AIA Company Limited. The assessment under the wellness program shall not be considered as a medical advice or a substitute to a consultation/treatment by a professional medical practitioner.

  • Insurance cover is available under this product. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.

  • This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.

  • L&C/Advt/2022/Nov/2903