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All About Riders In Life Insurance Plans

Published On Jul 11, 2021

Life Insurance Riders or just Riders are optional supplementary additions to your current and pre-existing policy to increase the coverage and comprehensiveness of your plan. There are numerous insurance riders available in the market that aim to broaden the scope of your plan without spending much money and falling prey to managerial issues. 

The best thing about riders is the flexibility they provide and of course, the innumerous monetary incentives such as a rebate on income tax, time to time bonuses, the flexibility of opting in and out of the plan according to your requirements, tailor-made customizations etc. 

Benefits Of Adding Riders To Your Life Insurance Plans

Well, the primary reason for adding riders to a policy is to increase the coverage of your plan at fewer management hassles and at low costs but many people also prefer adding riders to their policy due to the long term incentives and flexibility it provides. You too might be curious to know more, read here:

  • One Life Policy Provides You With Numerous Incentives

You're not going to purchase numerous new policies and invest incomparably cheaper and superior possibilities, as you realise how versatile riders are and how simply you can add them to your present policy. Now that you have a single policy with riders tailored to your needs, you can only handle one insurance and focus on it. This will also reduce your headaches when you manage your policy along with other obligations. 

  • Your Policy Can Be Customized According To Your Needs

Riders are personalised and specialised additions to your policy that you can change to suit your needs. You can choose the time period for the riders, and you can opt-out of the plan or continue enjoying its benefits at any point during the term period, as well as add or delete any features.

  • Riders Provide You With Extra And Enhanced Protection

Riders are add-ons to your current insurance that you can add to as your needs change, enhancing your policy's coverage and, eventually, its maturity benefits. One of the most important reasons to add a rider to your term insurance policy is to ensure your family's safety. A term plan's death benefit is adequate, but it means nothing if you are involved in an incident and unable to maintain your family financially. When riders are added to a term plan, they significantly boost protection against all threats.

  • You Are Entitled To Extra Perks On Riders

With riders in your policy, you receive various benefits, including payment waivers in the case of emergencies in which you are either unable to pay the premiums further or can't pay right in that moment, as well as a return of premium option in the event that you require emergency funds due to a disaster.

  • You Are Eligible For Rebates On Income Tax

Riders help you save huge amounts on taxes under sections 80C and 80D of the Income Tax Act of India, as well as preserve your hard-earned income by avoiding the purchase of stand-alone insurance. You can save up to rupees twenty-five thousand or more in total income tax each fiscal year by investing in riders rather than separate policies.


Smart investors have now understood the fact that investing in different stand-alone policies for different needs is a wastage of resources. When you can get the best of coverage and protection with cost-efficient riders, why would you go for a new policy, try riders and ensure a secure future for your loved ones.

Also Read: 

What Does A Rider Mean In A Life Insurance Policy?

Different Riders To Opt With Your Term Insurance Plan

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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