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What Are The Different Riders Available With A Money Back Plan?

Published On May 04, 2021

Riders provide additional benefits, catered towards special circumstances, in addition to the ones from your insurance plans. They are available at a nominal cost and can be added to your Money Back Plan to enhance its features. It is always recommended to have a rider to make your money back plan more robust.

List of Different Riders Available With A Money Back Plans

There are different types of riders that are available. Each of them is designed to pay out benefits under certain circumstances that incur heavy costs. The following are some of the different types of riders that are available with a money back plan.

1. Critical Illness Riders

A critical illness rider provides benefits to cover the costs incurred due to the policyholder suffering from a critical illness. The illnesses qualified under the rider can usually be found in the product brochure from the specific insurer. The illness must be vetted by a certified medical practitioner. The insurance company might also assign a checkup with their own recommended doctor for verification purposes. The benefit from this rider is usually paid in a lump sum and it is once during the entire policy term.

2. Accidental Total and Permanent Disability Rider

Under this rider, if the policyholder suffers from any accident that renders them totally and permanently disabled, they will receive benefits. The benefit is usually paid to cover the costs that might be accrued due to the disability of the policyholder. It is also helpful in providing for the family in case there is a lack of an income due to the disability of the policyholder.

You may also like to read:- Tips to Choose Best Money Back Plan

3. Accidental Death Rider

There are also riders available to cover the accidental death of a policyholder. Under this rider, a lump sum benefit is given out to the nominees of the policyholder. This is provided in addition to the benefits from the base insurance plan and provides extra support for beneficiaries. To avoid any claim rejections, you must have all documents required to prove the accident under the conditions given by the insurance company.

4. Premium Waiver Rider

A premium waiver rider covers the remaining unpaid premiums in case the policyholder dies during the policy term. This helps family members keep the money back policy in action and stay under its protective cover even in the absence of the policyholder. It is especially helpful if the policyholder was the sole earner of the family.


Riders are important additions to your money back plans. It is always recommended that you go through the product brochure provided by your insurer to know the exact nature, terms and conditions of the rider you want to purchase. Different riders are advantageous under certain circumstances so you must choose wisely according to your requirements.

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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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