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How to Select Riders Effectively For Your Term Insurance?

Published On Sep 27, 2021

The pandemic has made the future unpredictable and unsettled. Ensuring the safety of your loved ones has never been more critical. This is where term insurance plans gain importance! It is the simplest way to protect your family. It is an affordable form of life insurance that allows you to avail of high insurance coverage at reasonable costs. This plan pays if an insured dies within the policy tenure. Most term insurance plans do not pay anything if you survive the policy tenure. 

When you buy a protective shield for your family in the form of a term insurance plan, you secure their future financially. However, you may often feel that you can do more to enhance this security cover. This is where term insurance riders come into play. Term insurance riders are extra benefits that can be added over and above your standard insurance policy. You can buy term riders/add-ons along with the base policy by paying an additional amount. They help increase the term plan benefits.

What Are The Different Kinds of Term Insurance Riders Available? 

To enhance the coverage of your basic life insurance policy, you can purchase the following riders with your Term Insurance Plan:

  • Accidental Death and Dismemberment (Long Scale) Rider

Sometimes an unfortunate accident can lead to disability or even death. If the primary provider dies, the surviving family will face a financial crisis. By opting for an accidental death and dismemberment (long scale) rider, you can ensure that your loved ones receive an additional benefit.

  • Critical Illness Rider

If you, the insured member, are diagnosed with any of the specified critical illnesses, you will receive a payout. Generally, diseases like cancer, heart attack, kidney failure, paralytic stroke, and coronary artery bypass surgery (CABG) are covered. This rider increases the overall coverage. So, an extra amount is paid to the nominee in the case of the insured’s death. This amount is generally equal to the sum assured of the base term plan.

  • Family Income Benefit Rider

This rider helps your loved ones cope with an insured’s death or disability. When purchasing this rider, you will have to specify the number of years you want the family to receive a steady income.

  • Waiver of Premium

A family's financial prosperity can be significantly impaired in case the primary provider suffers a disability. The inability to pay the upcoming premium will soon result in the lapse of the life insurance term plan. When you opt for a waiver of premium, in the case of an accidental disability, all the future premiums are waived, but the policy continues.

Choosing the Best Term Insurance Rider With Your Existing Plan

Riders serve specific, definite purposes, so it becomes essential that you select the one that suits your insurance needs. However, you first need to understand how each rider works and what it offers. Keep in mind:

Once you shortlist the riders you are interested in, you need to assess your life risks. This will help you select the corresponding riders. For example, if your family members have been diagnosed with terminal illnesses in the past, you may want to opt for a critical illness rider. If you are in a dangerous profession or a position where you travel too much, you can opt for an accidental death and dismemberment rider. 


A life insurance term insurance policy is a simple yet effective way to cover risk and secure the future of your loved ones. And when you opt for a rider, you further enhance the efficacy of your term policy. By paying a little extra, you can get this financial protection tool that helps you financially secure your family in the event of an illness or disability you may suffer. 

Also read: 

Common Exclusions Under Life Insurance Riders

Should You Go For Riders In Term Insurance?    

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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