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All About Riders In Endowment Insurance Plans

Updated On Jul 06, 2021

Riders are additional benefits added to the core structure of the endowment insurance plan to make it more beneficial to the investors. These add ons extend policy protection in case of specific events.

The availability of different riders depends upon the insurer and can be discussed and adjusted while buying the policy.

In this article, we have listed different riders you can add to your endowment plan to avail more security.

Riders Offered Under Endowment Plan

Following are the riders offered under endowment plans: 

  • Term Benefit Rider

The Term Benefit Rider provides additional protection over and above the Minimum Death Benefit. It allows policyholders to raise their sum assured in the event of death. This provides an extra sense of security to the policyholder. 

Policyholders can browse an assortment of premium alternatives and make use of personal tax reductions as permitted by law.

  • Accidental Death Benefit Rider 

As an accidental death benefit, the insurer will pay an accidental death benefit in addition to the Death Benefit to the beneficiary if the policyholder chooses this supplementary rider.

However it should be noted that regardless of whether this rider is excluded, the essential whole safeguard will be paid. In case of the policyholder's demise because of a mishap, the rider simply guarantees an extra whole well beyond the fundamental entirety guaranteed. 

  • Accidental Total And Permanent Disability Benefit Rider

The Total and Permanent Disablement Benefit is paid if the Life Assured is crippled

completely and permanently as a result of an accident. Once a claim is granted for a life insured being incapacitated as a result of an accident, these payments are made. The conditions are only considered permanent after 6 months from the date of the incident.

  • Critical Illness Benefit Rider 

In instances of critical illness, this optional Critical Conditions Rider can help provide financial relief. In some cases, it pays you a certain portion of the basic sum assured payable on admission of a claim on a critical illness. The sum assured promised varies from insurer to insurer.

The Company, however, will not be liable to pay a claim if it is the result of the Life Assured's purposeful self-injury or attempted suicide, whether sane or insane. This benefit will only be provided upon confirmation of the disease by a Consultant Physician.

  • Life Guardian Benefit Rider 

In case the demise of the proposer is proved  to the satisfaction of the Company without any involvement of foul play, the company will make future premium payments on the policy in respect of all other benefits in place, subject to the following conditions:

  1. This benefit is in full force on the date of the Proposer's death
  2. The accuracy of the Proposer's age, as stated in the Proposal form, has been proven to the Company's satisfaction.

iii.Proof of the Proposer's death, satisfactory to the Company, has been provided to the Company within one year of the date of death, as well as any other criteria imposed by the Company.

  • Waiver of Premium

Waiver of Premium can be added to an endowment plan to ensure that the policy functions smoothly in case of any unfortunate contingency. This provision assures that, in the event of the policyholder's death, the insurance continues uninterrupted by waiving any future premiums.

  • Hospital Cash Benefit

Hospital Cash Benefit provides you every day stipend just as post-hospitalization benefits, if there should be an occurrence of hospitalization of the policyholder.

The amount paid is fixed at the time of the approach and will remain fixed. This benefit coverage can be added as a rider to your existing endowment insurance plan or purchased separately.


Riders function as a security belt for future events. They are an effective way to ensure security of the policyholder. As a result, it is worth debating whether or not adding an extra rider is worthwhile to your policy.

Also read 

Top 5 Benefits Of Buying Endowment Insurance Plans

Why Should I Buy Endowment Insurance Plans Online At Insurancedekho?

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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