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Should You Purchase Riders With Term Insurance Policy?

Published On Oct 07, 2021

A term insurance rider is a cover that adds benefits to or amends the basic term insurance policy. Riders provide the life assured with additional coverage options, or they may even restrict or limit coverage. There is an additional cost if the life assured decides to purchase a rider. Most of them are low in cost. A rider is also referred to as insurance endorsement. 

A term insurance rider is an additional insurance cover which you can add to your base policy. Insurance riders add more stars to all your safety ratings of your basic term life insurance plan. 

Below are some benefits listed for you to read before you decide to purchase a term insurance rider. 

Benefits of Term Insurance Riders

Here's a list of benefits that you get on purchasing a term insurance rider: 

  • Better Protection

The most important reason for you to add a rider to your term insurance policy is that you want your family to be safe from more than one hazard. Death is undoubtedly the ultimate cause for a family's financial difficulties but,  accidental disability, life threatening illness, with expensive treatments are also equally devastating if not more. Adding riders to your term policy certainly adds more teeth to it and protects your family better. 

  • Enhanced Cover

Added riders also increase your total protection pool. This is an important benefit of riders, as in many cases like accidental deaths, long hospitalization, medical expenses may precede the ultimate demise. This, your family will need a lot more money than just the death claim to look after everything. 

  • Premium Waiver

If you end up suffering from a critical illness or accidental disability, the life insurance riders covering these risks will provide financial assistance. But it also means that your income will suffer, and you will be dependent on your insurance money for treatment and financial budget. To avoid your life cover from lapsing, you can opt for a premium waiver benefit. So whenever you submit a claim for critical illness or disability your life cover may continue without any additional premium payment. 

  • Minimal Management Hassle

Riders work along with the base life cover. However, if you were to buy a separate accidental and critical insurance cover, you will not only pay more premium but also have more than one policy to manage. Another drawback of buying separate covers is that combined benefits will not be available. 


It is important for you to know what riders your insurer offers along with your policy so you can take advantage of the affordable add-on benefits. This article might help you to know the benefits of the riders before you purchase it. 

Also read: 

Importance Of Adding Income Benefit Rider To Your Term Insurance Policy

Advantages Of Adding Accidental Total And Permanent Rider

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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