Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin

Top 3 Riders Of The Child Insurance Policy

A Child Policy is a combination of Savings and Insurance, that helps you to build a secure plan for your children to meet their upcoming financial needs. Once you purchase a child plan you are liable to pay the premium for a selected period which is called a Policy Term. When the Policy Term ends the Insurance Company provides you a lump sum amount which is called the Maturity Benefit. This amount can be utilized to cover your child's marriage or education related expenses. In case of an unfortunate event that happens with the insured person, the entire amount of the life cover is paid to the nominee and in addition to it, all payments of the premium for the remaining policy terms are waived off. 

Benefits of a Child Insurance Plan

  • A Corpus for the Future

By timely paying the Premium throughout the Policy Term you can build a corpus to secure the future of your child. Once the Policy Term ends the Insurance Company pays you A lump sum amount in the form of a Maturity Benefit. 

  • Covers Medical Expenses

These Plans have a facility of withdrawals during the Policy Tenure. This amount can be used to cover all medical and treatment expenses. 

  • Ensures Security of the Child even in your Absence

The sudden demise of the parent can cause trauma and could be the reason for the failure of the Child's Future. That is why in such situations the insurance company provides the lump sum amount in the form of the Death Benefit to the child or the nominee as well as waives off all the future Premiums that are still to be paid. 

  • Benefit in the form of a Secondary Income

There are a few Child Insurance Plans in the market that provide regular income which is equal to 1% of the sum assured. 

  • Additional Riders to enhance the cover

Additional Riders can be added to enhance the cover of the existing Policy. 

What are Riders in Child Plans? 

Riders are Additional Benefits that can be purchased and added to the existing Policy. They are used to customize the policy and give protection against several uncertainties. Purchasing a Rider means paying an extra premium but as compared to the normal premium it is relatively less. The reason for the lesser value of the Premium is because very little underwriting is required. The most popular Riders which are bought by the customers are Accidental Death Rider, Waiver of Premium Rider, Family Income Benefit Rider. 

Top 3 Riders in Child Plans

Below, we have given a detailed description below about these three riders. 

  • Accidental Death Rider

The Accidental Death Rider or also called the Double Indemnity Rider ensures an Additional Payout under Death Benefit. In case of death caused by an accident of the insured person, the nominee receives an additional benefit which is equivalent to the face amount of the original Policy. This means the insured family gets double the amount of the policy value. In the case of a person who is the sole caretaker and provider of the family, this Accidental Death Rider is beneficial as the double amount of the payout can take good care of your family. 

  • Waiver of Premium

In case the insured person becomes permanently disabled or loses the income because of some injury or illness then the Insurance Company waives off the future premiums that are required to be paid. Such scenarios can have a crippling effect on the family. Due to such financial instability, the Waiver of Premium rider ensures that your family will not suffer dire consequences if such a case arises. The waiver is offered till the person can work again, however, the waiver also depends on the monetary value of the premium and the definition of 'disabled varies from insurer to insurer. Hence it is important to go through the terms and conditions part of the policy documents thoroughly. 

  • Family Income Benefit Rider

In case of the sudden demise of the insured, the family is drastically affected financially, especially if there is only a sole earner in the family. This particular Rider provides a regular income to the family in such scenarios. The important thing that you need to remember is that while buying this rider you need to determine the number of years till which your family will be getting the benefit of a regular income. 


Adding Riders to a particular policy helps out in so many ways. With Lesser Premiums, you can secure your child's future in every possible way. The suggestion that we want to give you is that you should give a thought about adding Riders to your existing policy after going through the Terms and Conditions. 

Also read 

Top 5 Benefits of Buying Child Insurance Plans

Which is the Best Child Insurance Plan in India 2021?

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.        

Popularly Opted Term Insurance Sum Assured

People Also Read

Must BuyMust Buy

Why to Buy Life Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 1,50,000*
  • Claim support everyday 10AM-7PM
  • 80 Lacs+ happy customers