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3 Riders Which Are Best Suitable For A Child Life Insurance Policy

Published On Oct 08, 2021 10:00 AM By InsuranceDekho

Riders are optional benefits that can be added to an existing policy. They are used to personalize insurance and provide protection against a variety of uncertainties. Purchasing a Rider entails paying an additional premium, but it is considerably less than the standard price. The lower value of the Premium is due to the fact that virtually little underwriting is necessary. Customers most commonly purchase the Accidental Death Rider, Waiver of Premium Rider, and Family Income Benefit Rider.

Top 3 Child Plan Riders

We have included a thorough overview of these three riders below.

1. Accidental Death Riders

The Accidental Death Rider, commonly known as the Double Indemnity Rider, guarantees an additional payment under the Death Benefit. In the event of the insured person's death as a result of an accident, the nominee receives an extra benefit equal to the face value of the original Policy. This implies that the covered family receives double the insurance value. This Accidental Death Rider is useful in the case of a person who is the sole caregiver and provider of the family since the twofold amount of the payment can take care of your family.

2. Waiver Of Premium Riders

In the event that the insured individual becomes permanently incapacitated or loses their income as a result of an injury or sickness, the Insurance Company will waive all future premiums that are due. Such circumstances can be devastating to a family. The Waiver of Premium rider assures that your family will not face grave repercussions as a result of such financial difficulties. The waiver is available until the individual is able to return to work; however, the waiver is contingent on the premium's monetary worth, and the definition of disabled differs per insurer.As a result, it's critical to read the terms and conditions section of the policy papers completely.

3. Rider For The Family Income Benefit

In the event of the insured's untimely death, the family's finances are severely impacted, particularly if the insured is the family's single earner. In such cases, this Rider offers a steady source of money for the family. The most essential thing to remember is that when purchasing this rider, you must calculate the number of years for which your family will get a consistent income.


Individual life insurance plans are designed to assist cover costs such as replacing lost income in the event of your death. If your kid dies while you are covered, a child rider can be added to your policy to provide a death benefit. A kid rider can assist pay for funeral costs if your child passes away. It could also allow you to take some time off from work. This time off will allow you to grieve while also allowing you to look after the rest of your family. Adding Riders to a policy is beneficial in a variety of ways. You may protect your child's future in every manner imaginable using Lesser Premiums. After reading over the Terms and Conditions, we recommend that you consider adding Riders to your existing policy.

Also read - Reasons Why One Must Invest In A Child Life Insurance Plan

Child Insurance Plan for Education and Marriage

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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