<section class="blog">
<div class="blog-content">
<p>People require a source of income for various reasons, the most important of which is financial security and independence. However, earnings are susceptible to setbacks, which can occur due to various reasons outside one's control. People accumulate wealth and invest some of it in <a href="https://www.bhartiaxa.com/" target="_blank" title="life insurance">life insurance</a> to protect themselves against such hazards.</p>

<p>Life insurance policies serve as a safety net in the event of a significant financial disaster, such as premature death. Unfortunately, several factors might disrupt one's financial well-being, which is why most life insurance plans, including term insurance plans, provide riders. Read on to know more about insurance riders</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2>What is a Rider in Insurance?</h2>

<p>Rider may be defined as an extra layer of protection that you may add to your existing policy. Simply defined, an insurance policy rider is a provision or addition to an existing insurance policy that provides additional coverage, or risk protection, to the policy. They are cost-effective add-ons that you may apply to your existing insurance policy to enhance your life insurance policy. In other words, riders broaden and strengthen your insurance coverage, covering more than simply death.</p>

<h2>Benefits Of Adding Insurance Riders</h2>
&nbsp;

<h3>Improved Security</h3>

<p>The most significant reason for adding riders to your life insurance policy is that you want to protect your family from several risks. Without a doubt, death is the ultimate source of a family's financial problems. Accidental impairments and life-threatening illnesses with costly treatments, however, can be just as distressing, if not more so. Adding riders to your life insurance policy gives it more weight and better protects your family.</p>

<h3>Enhanced Coverage</h3>

<p>Adding riders to your base life insurance policy also increases your overall protection pool. For example, if your base life insurance policy has a total assured benefit of Rs. 1 crore, a rider can add Rs. 25 lakhs to it. It is a significant advantage to opt for riders, since in many situations- such as accidental fatalities and prolonged hospitalization- high medical costs may be incurred prior to unfortunate demise. As a result, your family will need far more funds than the death rider to cover all of such expenses.</p>

<h3>Extra Benefits</h3>

<p>Some companies also provide a child support rider with an extra sum assured with their term insurance plan. It means that your insurance will cover your child's education independently while also providing a baseline sum to the family.</p>

<h3>Waiver Premium</h3>

<p>If you get a severe disease or become disabled due to an accident, the life <a href="https://www.bhartiaxa.com/riders-in-insurance" target="_blank" title="insurance riders">insurance riders</a> that cover these risks will give you financial help. However, your income may decrease as a result, and you will be reliant on your insurance money for treatment and family expenses. You can choose the <a href="https://www.bhartiaxa.com/riders-in-insurance/premium-waiver-rider" target="_blank" title="premium waiver rider">premium waiver rider</a> to keep your life insurance from expiring. As a result, if you file a <a href="https://www.bhartiaxa.com/claims" target="_blank" title="claim">claim</a> for critical sickness or incapacity, your life insurance will continue without you having to pay any more premiums.</p>

<h2>Criteria for Term Riders Eligibility</h2>

<p>Following are certain criteria related to riders :</p>

<ul>
	<li>As mandated by IRDAI rules, the total rider premium under all riders put together cannot exceed 30 percent of the base plan premium. Also, in case of term plans, premium under <a href="https://www.bhartiaxa.com/riders-in-insurance/hospi-cash-benefit-rider" target="_blank" title="health riders">health riders</a> cannot exceed 100 percent of the base plan premium.</li>
	<br />
	<li>The term of the rider cannot exceed the term of the base policy. Even the <a href="https://www.bhartiaxa.com/be-smart/savings/sum-assured-in-guaranteed-saving-plans" target="_blank" title="sum assured">sum assured</a> of the rider cannot exceed the sum assured of the primary policy.</li>
	<br />
	<li>Conditions relating to the term of the rider, age at entry and sum assured of each rider will also depend on the conditions of the base policy it is attached to.</li>
	<br />
	<li>Rider benefits will stop on the maturity of the policy.</li>
</ul>

<h2>Conclusion</h2>

<p>When obtaining a <a href="https://www.bhartiaxa.com/term-insurance" target="_blank" title="term insurance">term insurance</a> plan, you should know what is rider and its benefits and calculate your premium expenses. It is beneficial if you want to pay off all of your premiums quickly. In addition, you should exercise caution while examining the insurance plan's <a href="https://www.bhartiaxa.com/be-smart/life/what-is-maturity-in-insurance" target="_blank" title="maturity">maturity</a> or expiration date. Some riders, such as <a href="https://www.bhartiaxa.com/health-plans/critical-illness-insurance" target="_blank" title="critical illness insurance">critical illness insurance</a>, may expire before your basic life insurance policy. Adding riders may or may not affect your overall life insurance eligibility, so be sure they're worth it. <a href="/" target="_blank" title="Bharti AXA">Bharti AXA</a> term plans have made it affordable and straightforward to establish a sufficient safety net for your family swiftly.</p>

<p>NOTE : Riders are optional and available at an additional cost.</p>
</div>
</section>


What is Riders in Insurance?

What is a Rider in Insurance and its Benefits | Bharti AXA Life

title

Rider in Insurance Policy is defined as an extra layer of protection that you may add to your existing insurance policy. Read on to know more about life insurance riders.

description

what is rider, what is term rider in LIC, term rider meaning, types of riders in insurance, what is a rider in insurance, define rider, death rider, inclusion rider meaning, rider definition

keywords

http://prod-cms.bhartiaxa.com/sites/default/files/2022-01/7.png

facebook-domain-verification

KkkHxnkKTu3Pk7Ff_BNZUqXLHXeKlWWO-P1ByU6nWXI

google-site-verification

A Guide to Riders: What is a Rider and How is it Beneficial for You?

<section class="blog">
<div class="blog-content">
<p>The most modest and basic <a href="https://www.bhartiaxa.com/life-insurance/types-of-life-insurance-policy" target="_blank" title="type of life insurance">type of life insurance</a> is the term insurance plan. It guarantees the payout of a sum assured in the policyholder's demise within the policy tenure. If the insured survives till the end of the policy term, his coverage will end, and he will get no payment. Besides, we all are aware that unforeseen things occur every day and a serious illness might strike at any time in your life. It is tough to cover the expensive medical costs during certain instances. Furthermore, if you are the family's sole earner and if you are not in a situation to work due to your illness, results in a financial crunch. Therefore, it is recommended that you purchase critical illness riders in a term plan to protect yourself against such catastrophes.</p>

<p>If you are diagnosed with one of the conditions listed in the insurance policy's pre-agreed list, you will get a lump sum payment under a <a href="https://www.bhartiaxa.com/be-smart/term" target="_blank" title="term plan">term plan</a> with critical illness benefit rider. Conditions such as heart failure, cancer, paralysis, heart attack, and lung illnesses fall under critical illness benefit riders list. Although critical illness rider life insurance is accessible as an independent policy, it is most commonly purchased as critical illness riders in a term plan.</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2 class="section-main-heading">What are Riders?</h2>

<p>Riders are optional features that let you tailor your insurance to your specific needs. They are less expensive than <a href="https://www.bhartiaxa.com/" target="_blank" title="life insurance">life insurance</a>. They provide coverage in addition to what your insurance policy provides. The fee is usually between 5% and 10% of the base policy. Riders should ideally be purchased at the start of the coverage. The sooner they are booked, the less expensive they will be. The amount paid for a rider cannot exceed 30% of the premium paid for the base insurance policy.</p>

<p>Many people choose it because of the significant advantages of a <a href="/term-insurance" target="_blank" title="term insurance plan">term insurance plan</a> with critical illness riders. Here are few of reason that will help you to enhance your plan by providing you with benefits of <a href="/riders-in-insurance" target="_blank" title="riders in insurance">riders in insurance</a>.</p>

<h2 class="section-main-heading">1. Tax benefits</h2>

<p><a href="/be-smart/tax-savings/income-tax-deduction-under-section-80c" target="_blank" title="Section 80C of the Income Tax Act">Section 80C of the Income Tax Act</a> of 1961 allows premiums paid toward a term plan to be tax-deductible. As a result, you can deduct up to INR 1.5 lakh in premium payments from your taxable income. Furthermore, the benefits obtained from this plan are tax-free under Section 10 (10D) and Section 80C of the Income Tax Act.</p>

<h2 class="section-main-heading">2. Premium remains same throughout the Policy Tenure</h2>

<p>The premium for term insurance with critical illness benefit remains the same during the policy term once you've applied. This means that once you've been diagnosed with a serious disease, your premium won't go up.</p>

<h2 class="section-main-heading">3. Coverage of medical expenses</h2>

<p>Healthcare costs in India are increasing by the day. Given the ever-increasing cost of medical expenses, it only becomes necessary that you are adequately covered through an insurance plan to avoid burning a hole in your pocket. Opting for a <a href="https://www.bhartiaxa.com/health-plans/critical-illness-insurance" target="_blank" title="critical illness rider">critical illness rider</a> with your insurance policy helps you cover large parts of the medical expenses. Besides, the lump sum amount provided by the insurer may be used to cover daily expenses as well.</p>

<h2 class="section-main-heading">4. Increased chances of survival</h2>

<p>Significant medical expenditures will financially strain you if you do not have insurance. Individuals with serious illnesses frequently do not receive treatment owing to a lack of funding. The odds of mortality increase if appropriate therapy is not provided. However, if you have a critical illness rider benefit plan in place, you may be able to get cash on time to receive the treatment you require, enhancing your survival chances.</p>

<p>The real benefit of life-long <a href="/protection-plans" target="_blank" title="protection plans">protection plans</a> is that all future premiums are cancelled upon diagnosing any serious condition. Cancer of specified severity, major aorta surgery, open heart replacement or repair of heart valves, open-chest CABG, end-stage liver disease, end-stage lung disease, loss of limbs, major head trauma, benign brain tumour, third-degree burns, and permanent paralysis of the limbs are just a few of the critical illness riders covered under these options.</p>

<p>As a result, you might want to consider a critical illness rider <a href="https://www.bhartiaxa.com" target="_blank" title="life insurance">life insurance</a>, which will protect you at the time of a critical illness. Adding a critical illness rider to your online term insurance policy provides additional security and safeguards your future in the occurrence of a serious illness.</p>
</div>
</section>


Saral Jeevan Bima Yojana Premium

Critical Illness Rider in Term Insurance Plan | Bharti AXA Life

Critical illness rider in term plan is a life insurance policy which is accessible as an independent policy. Know more critical illness coverage at Bharti AXA Life.

critical illness rider, critical illness rider in term plan, benefits of riders in insurance, critical illness benefit, critical illness benefit rider, critical illness insurance return of premium, critical illness rider life insurance

http://prod-cms.bhartiaxa.com/sites/default/files/2021-08/11.jpg

How to Enhance Your Term Plan with a Critical Illness Rider?

<section class="blog">
<div class="blog-content">
<p>With the high expenses of hospitalization, treatments, and medicine, it only makes sense to protect yourself in every way possible by purchasing comprehensive <a href="https://www.bhartiaxa.com/health-plans" target="_blank" title="health insurance">health insurance</a>. However, understanding key <a href="https://www.bhartiaxa.com/be-smart/health/5-health-insurance-terms-and-conditions" target="_blank" title="health insurance terms and conditions">health insurance terms and conditions</a> is essential to ensure that you get the most value for money and select the best coverage. If you are considering purchasing health insurance, you should know about the policy terms. You should be familiar with the words used in <a href="https://www.bhartiaxa.com/be-smart/health/3-major-benefits-of-term-health-insurance-plan" target="_blank" title="health insurance policies">health insurance policies</a>. Below is a list of five health insurance terms explained in detail.</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2>Waiting Period</h2>

<p>This health insurance terminology is the period during which you cannot submit a claim under your health insurance coverage. The length of the waiting time differs from one <a href="https://www.bhartiaxa.com/online-insurance-plans" target="_blank" title="insurance policy">insurance policy</a> to the other. There are three types of waiting periods in general. The first is the first waiting period, during which if you require hospitalization within the first 30-90 days after purchasing the insurance, your claim will be denied unless it is due to an accident. However, this period might differ for different insurance companies. The second is the pre-existing illness waiting time. Before purchasing a health insurance plan, you must report any diseases you have been treated for or are currently under treatment. For pre-existing illnesses, there is a waiting time before your insurance would accept a claim. A premedical condition might have a one- to four-year waiting time.</p>

<p>The third type of waiting period pertains to certain medical conditions. The insurance sets a waiting period during which it will not consider a claim for specific diseases, often one to two years. Some <a href="https://www.bhartiaxa.com/health-plans/types-of-health-insurance" target="_blank" title="types of health insurance policies">types of health insurance policies</a> only provide <a href="https://www.bhartiaxa.com/be-smart/health/importance-of-investing-in-a-maternity-insurance-plan" target="_blank" title="maternity benefits">maternity benefits</a> after a 9-36-month waiting period depending on the policy and the insurer.</p>

<h2>Co-Payment</h2>

<p>A co-payment provision is present in specific plans. This health insurance terminology implies that you will be responsible for a portion of the claim amount if and when you submit a claim. Your out-of-pocket cost is generally represented as a percentage of the claim's total cost. For instance, if you make a claim for ₹20,000 and the co-payment condition is 10%, you'll have to pay ₹2,000 out of pocket. In most cases, insurers include a co-payment provision when the risk is significant, such as in a senior citizen's health insurance policy.</p>

<h2>Deductible</h2>

<p>The deductible is a set amount of money that may be deducted from the claim amount, and only claims that exceed this amount become due. Simply defined, the deductible is the portion of your claim that is not covered by insurance. As a policyholder, you must pay this sum before your insurer steps in to cover losses. The amount of this health insurance terminology is generally determined at the time of insurance acquisition. The major purpose of deductibles is to prevent people from making trivial claims or going for unnecessary treatment and hospitalization just because they have insurance cover.</p>

<h2>No-Claim Bonus (NCB)</h2>

<p>These health insurance terms mean that insurers will offer you a cumulative bonus if you don't make any claims, commonly known as NCB. In most cases, your insurance coverage, or sum insured, is increased by 5% for each year you go without filing a claim, up to a maximum of 50%. The kind of NCB and the discount rate offered by each insurer are different. For example, several insurers now increase your sum covered by 100% rather than 50%. However, it's critical to understand the impact of a claim on your collected incentives, so inquire with your insurer.</p>

<h2>Free-Look Period</h2>

<p>Someone may have bought health insurance on the advice of a friend, only to find out later that the benefits and terms and conditions do not match their needs. It is when the free-look period comes in handy. The free-look time allows you to evaluate the insurance you've purchased and return it if it doesn't meet your needs within a certain number of days after purchasing your insurance.</p>

<h2>Conclusion</h2>

<p>Choose a health plan that protects you from a wide range of medical issues and read the health insurance terms and conditions properly. When purchasing health insurance for your family, be sure that the coverage fulfils the requirements of each family member. Consider your criteria, compare plans based on features and prices, and choose a plan that meets your needs. <a href="/" target="_blank" title="Bharti AXA ">Bharti AXA </a> offers the most acceptable health insurance coverage in India, with a variety of advantages. You and your family can be financially secure with their health insurance coverage.</p>
</div>
</section>


<p>With the high expenses of hospitalization, treatments, and medicine, it only makes sense to protect yourself in every way possible by purchasing comprehensive health insurance However, understanding key health insurance terms and conditions is essential to ensure that you get the most value for money and select the best coverage.</p>


Health Insurance

Buying a Health Insurance? Know About Terms & Conditions | Bharti AXA Life

Health insurance terms and conditions details is essential to ensure that you select the best life coverage. Here is a list of five health insurance terms explained in detail.

health insurance terms and conditions, health insurance terms, health insurance terminology, pre medical condition, health insurance terms explained

http://prod-cms.bhartiaxa.com/sites/default/files/2021-09/2_0.jpg

Know These 5 Health Insurance Terms and Conditions Before Buying

View All

Download Brochure

Policy Bond

Life Insurance

Riders

Accidental Death Benefit Rider

Bharti AXA Life Accidental Death Benefit Rider | Bharti AXA Life

It is a rider that provides your family additional coverage and financial security in case of an accidental death.

<table width="100%">
	<thead>
		<tr>
			<th>Parameter</th>
			<th>Eligibility Criteria</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td>Minimum/ Maximum Age at Entry</td>
			<td>18 years to 65 years (age last birthday)</td>
		</tr>
		<tr>
			<td>Maximum Maturity Age</td>
			<td>75 years</td>
		</tr>
		<tr>
			<td>Minimum Premium</td>
			<td>₹ 40 for Offline Products<br />
			₹ 25 for Online Products</td>
		</tr>
		<tr>
			<td>Rider Term</td>
			<td>Minimum: 5 years and Maximum: 75 years less Age at Entry.<br />
			(Rider Term cannot exceed the Policy Term of the Base Policy)</td>
		</tr>
		<tr>
			<td>Premium Payment Term</td>
			<td>Same as Rider Term</td>
		</tr>
		<tr>
			<td>Premium Payment Frequency</td>
			<td>Annual, Semi- Annual, Quarterly &amp; Monthly *</td>
		</tr>
		<tr>
			<td>Death Benefit</td>
			<td>100% of Sum Assured in case of Accidental Death</td>
		</tr>
	</tbody>
</table>

<p>*Through ECS only</p>


Who can buy?

<p><strong>Financial protection against Accidental Death: :</strong></p>

<p>In the event of death of Life Insured due to an accident, the Sum Assured under the Rider will be paid to the Policyholder/nominee in addition to the Sum Assured under the base policy and the rider will cease to exist.</p>

<p>&nbsp;</p>

<p><strong>Tax Benefits:</strong></p>

<p>You may be eligible for the tax benefits on the premiums paid subject to the prevailing provisions. The tax benefits are subject to change as per change in Tax laws from time to time. There is no Maturity/Surrender Value applicable under this rider.</p>


View Details

<p><strong>For Offline Products:</strong>&nbsp;0.8 per 1000 Sum Assured across all ages and terms</p>

<p><strong>For Online Products:</strong>&nbsp;0.5 per 1000 Sum Assured across all ages and terms</p>


Premium Rates

Ask An Advisor

<p>This non-linked and regular pay <a href="https://www.bhartiaxa.com/be-smart/life/looking-to-add-a-rider-in-insurance-policy" target="_blank" title="insurance rider">insurance rider</a> provides 100% Sum Assured in case of death of the Life Insured due to an accident, subject to the rider policy being in-force.</p>


Bharti AXA Life Accidental Death Benefit Rider

Your Personalized quote is one step away

Worried about where to invest your money? Our Financial Advisor will help you basis your goals!

Bharti AXA Life Accidental Death Benefit Rider

(UIN:130B008V02)
(ADVT NO:II-Jul-2022-4103)

4 Reasons to Buy

Parameter	Eligibility Criteria
Minimum/ Maximum Age at Entry	18 years to 65 years (age last birthday)
Maximum Maturity Age	75 years
Minimum Premium	₹ 40 for Offline Products ₹ 25 for Online Products
Rider Term	Minimum: 5 years and Maximum: 75 years less Age at Entry. (Rider Term cannot exceed the Policy Term of the Base Policy)
Premium Payment Term	Same as Rider Term
Premium Payment Frequency	Annual, Semi- Annual, Quarterly & Monthly *
Death Benefit	100% of Sum Assured in case of Accidental Death

Bharti AXA Life Accidental Death Benefit Rider

(UIN:130B008V02) (ADVT NO:II-Jul-2022-4103)

4 Reasons to Buy

Related Articles

(UIN:130B008V02)
(ADVT NO:II-Jul-2022-4103)