<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>

<p>&nbsp;</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.

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

<section class="blog">
<div class="blog-content">
<p>Life is full of uncertainties, and planning for unforeseen events is crucial for financial security. Term life insurance offers peace of mind by providing a financial payout to your beneficiaries in case of your unfortunate demise during the policy term. However, critical illnesses can also disrupt your financial well-being, leaving you with a heavy burden of medical expenses and potential loss of income. This is where a critical illness rider comes in, enhancing your term plan by providing additional financial support during a critical illness diagnosis.</p>
</div>
</section>

<section class="blog">
<div class="blog-content">
<h2>What is a Critical Illness Rider?</h2>

<p>A critical illness rider is an optional add-on benefit that you can attach to your <a href="https://www.bhartiaxa.com/term-insurance" rel="noopener noreferrer" target="_blank">term life insurance policy</a>. This rider pays out a lump sum benefit upon the diagnosis of a critical illness covered by the policy. This financial cushion can help you manage the high costs associated with critical illness treatment, including hospitalization, medication, and loss of income while you focus on recovery.</p>

<h2>Benefits of Adding a Critical Illness Rider</h2>

<p>Here's why you should consider adding a critical illness rider to your term plan:</p>

<ul>
	<li><strong>Financial Support During Illness:</strong> Critical illnesses can be financially draining. The lump sum benefit from the rider can help cover medical bills, medicines, and other treatment costs, reducing the financial burden on you and your family.</li>
	<li><strong>Peace of Mind: </strong>Knowing you have a financial safety net in place if diagnosed with a critical illness can provide immense peace of mind, allowing you to focus on your health and recovery.</li>
	<li><strong>Income Replacement:</strong> Critical illnesses can often lead to temporary or permanent disability, impacting your earning potential. The rider payout can help you manage your living expenses and maintain your financial stability during this challenging time.</li>
	<li><strong>Flexibility:</strong> Many critical illness riders offer the option to choose the specific illnesses covered by the policy. This allows you to tailor your coverage to your specific needs and concerns.</li>
	<li><strong>Enhanced Protection:</strong> By combining a term plan with a critical illness rider, you create a more comprehensive insurance solution that protects you against both death and critical illness.</li>
</ul>

<h2>Understanding Critical Illnesses Covered</h2>

<p>Critical illness riders typically cover a range of major illnesses, but the specific list can vary depending on the <a href="https://www.bhartiaxa.com/" rel="noopener noreferrer" target="_blank">insurance company</a> and the chosen plan. Some common critical illnesses covered by riders include:</p>

<ul>
	<li>Cancer</li>
	<li>Heart attack</li>
	<li>Stroke</li>
	<li>Kidney failure</li>
	<li>Major organ transplant</li>
	<li>Coronary artery bypass graft (CABG)</li>
	<li>Paralysis (permanent)</li>
	<li>Multiple sclerosis</li>
	<li>Blindness</li>
</ul>

<h2>Choosing the Right Rider for Your Needs</h2>

<p>Here are some key factors to consider when selecting a critical illness rider:</p>

<ul>
	<li><strong>Covered illnesses</strong>: Review the list of critical illnesses covered by the rider and ensure it aligns with your health concerns and family history.</li>
	<li><strong>Benefit amount:</strong> Choose a rider that offers a sufficient lump sum payout to cover your anticipated medical expenses and potential income loss.</li>
	<li><strong>Cost of the rider:</strong> Adding a rider will increase your overall premium cost. Compare quotes from different insurance companies to find an affordable and comprehensive rider option.</li>
	<li><strong>Claim process:</strong> Understand the claim process of the rider and the required documentation for a smooth claim experience.</li>
	<li><strong>Renewal conditions:</strong> Some riders may have renewal conditions based on your health status in the future.</li>
</ul>

<h2>Important Considerations</h2>

<p>Before adding a critical illness rider, keep these points in mind:</p>

<ul>
	<li><strong>Pre-existing conditions</strong>: Existing health conditions might affect your eligibility for a rider or the premium amount.</li>
	<li><strong>Waiting period:</strong> There might be a waiting period between purchasing the rider and being eligible to claim benefits.</li>
	<li><strong>Claim exclusions: </strong>The rider might have exclusions for certain causes of critical illness or pre-existing conditions.</li>
	<li><strong>Tax implications:</strong> The payout from the rider might be subject to taxes depending on the specific rider and tax laws.</li>
</ul>
</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.

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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>
</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

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Know These 5 Health Insurance Terms and Conditions Before Buying

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Riders

Hospi Cash Benefit Rider

Hospicash Benefit - Bharti AXA Life Hospital Cash Benefit Rider

Hospital Cash Benefit - Bharti AXA Health Insurance Rider offers fixed hospital daily cash to the policyholder, lump sum pay-out and tax benefits at affordable premiums.

<table width="100%">
	<thead>
		<tr>
			<th>Eligibility</th>
			<th>Parameters</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td>
			<p>Minimum Age at Entry</p>
			</td>
			<td>
			<p>91 days (age last birthday)</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Maximum Age at Entry</p>
			</td>
			<td>
			<p>65 years (age last birthday)</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Maximum Maturity Age</p>
			</td>
			<td>
			<p>85 years</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Policy Term</p>
			</td>
			<td>
			<p>Fixed: 5, 7, 10, 15 &amp; 20 years<br />
			To Age: 75 years</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Premium Payment Frequency</p>
			</td>
			<td>
			<p>Annual, Semi-Annual, Quaterly and Monthly*</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Premium Payment Term</p>
			</td>
			<td>
			<p>Regular Premium</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Maturity Benefit</p>
			</td>
			<td>
			<p>No Maturity Benefit is payable</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Death Benefit</p>
			</td>
			<td>
			<p>No Death Benefit is payable</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>No Claim Bonus</p>
			</td>
			<td>
			<p>Not Available</p>
			</td>
		</tr>
		<tr>
			<td>
			<p>Renewal</p>
			</td>
			<td>
			<p>Guaranteed Renewal till the end of Premium payment Term of the base policy-No medicals at the time of renewal.</p>
			</td>
		</tr>
	</tbody>
</table>

<p>*Through ECS only</p>


Who can buy?

<p>Bharti AXA Life Hospi Cash Benefit Rider provides Fixed Benefit irrespective of the actual expenses incurred on per day of hospitalization. For every claim, the hospitalization should be for a minimum period of 48 hours while the policy is in force.</p>

<p><strong>Daily Hospital Cash Benefit:</strong></p>

<p>Fixed per day benefit paid to the policyholder for each day of Hospitalization. This is a fixed amount not linked to the actual expenses incurred.</p>

<p>&nbsp;</p>

<p><strong>Intensive Unit Care Benefit:</strong></p>

<p>This fixed benefit is equal to the DHCB and is payable for each day of hospitalisation in the ICU.</p>

<p>&nbsp;</p>

<p><strong>Surgical Hospitalization Benefit:</strong></p>

<p>Lump sum benefit paid in case of hospitalization for any valid and medically necessary surgeries. In case of multiple valid surgeries during a single admission, single payment for surgical procedure attracting the highest benefit will be paid.</p>

<p>&nbsp;</p>

<p><strong>Tax Benefits:</strong></p>

<p>You may be eligible for tax benefits under Section 80D of the Income Tax Act 1961. The tax benefits are subject to change as per change in Tax laws from time to time.</p>


View Details

<p>Benefits Schedule</p>

<table border="0" cellpadding="0" cellspacing="0" width="100%">
	<thead>
		<tr>
			<th>Benefit**</th>
			<th>Silver</th>
			<th>Gold</th>
			<th>Diamond</th>
		</tr>
		<tr>
			<th colspan="4">Hospital Cash Benefit</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td>Daily Hospital Cash Benefit: DHCB</td>
			<td>1,000</td>
			<td>2,000</td>
			<td>3,000</td>
		</tr>
		<tr>
			<td>Intensive Care Unit Benefit: ICU</td>
			<td>+ 100%<br />
			of DHCB</td>
			<td>+ 100%<br />
			of DHCB</td>
			<td>+ 100%<br />
			of DHCB</td>
		</tr>
		<tr>
			<th colspan="4">Surgical Hospitalisation Benefit</th>
		</tr>
		<tr>
			<td>Major Surgeries – For surgeries directly involving the brain, heart (including coronary arteries), liver &amp; lung</td>
			<td>20<br />
			x<br />
			DHCB</td>
			<td>20<br />
			x<br />
			DHCB</td>
			<td>20<br />
			x<br />
			DHCB</td>
		</tr>
		<tr>
			<td>Minor Surgeries – All Other Valid Surgeries</td>
			<td>5<br />
			x DHCB</td>
			<td>5<br />
			x DHCB</td>
			<td>5<br />
			x DHCB</td>
		</tr>
		<tr>
			<td colspan="4">The maximum Surgical Hospitalisation Benefit available in one policy year is capped to 90 times the DHCB</td>
		</tr>
		<tr>
			<th colspan="4">Day Limits for Hospital Cash Benefit</th>
		</tr>
		<tr>
			<td colspan="3">Daily Hospital Cash Benefit</td>
			<td>Maximum of 40 days of Hospital Stay in one policy year</td>
		</tr>
		<tr>
			<td colspan="3">Intensive Care Unit Benefit</td>
			<td>Maximum of 10 days of Intensive Care Unit stay in one policy year</td>
		</tr>
		<tr>
			<td colspan="4">**The aggregate of all benefits payable in any one policy year under this policy will not exceed an amount equivalent to 150 times the DHCB under the plan opted for by the policyholder.</td>
		</tr>
	</tbody>
</table>


Benefits you will receive

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<p>A health insurance rider that offers you a fixed amount benefit for each day of hospitalisation. It also offers a fixed amount benefit if you are admitted in an Intensive Unit Care or a lump sum benefit in case of surgery</p>


Bharti AXA Life Hospi Cash Benefit Rider

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Bharti AXA Life Hospi Cash Benefit Rider

(UIN:130B007V05)
(ADVT NO:II-Sep-2024-5506)

4 Reasons to Buy

Eligibility	Parameters
Minimum Age at Entry	91 days (age last birthday)
Maximum Age at Entry	65 years (age last birthday)
Maximum Maturity Age	85 years
Policy Term	Fixed: 5, 7, 10, 15 & 20 years To Age: 75 years
Premium Payment Frequency	Annual, Semi-Annual, Quaterly and Monthly*
Premium Payment Term	Regular Premium
Maturity Benefit	No Maturity Benefit is payable
Death Benefit	No Death Benefit is payable
No Claim Bonus	Not Available
Renewal	Guaranteed Renewal till the end of Premium payment Term of the base policy-No medicals at the time of renewal.

Bharti AXA Life Hospi Cash Benefit Rider

(UIN:130B007V05) (ADVT NO:II-Sep-2024-5506)

4 Reasons to Buy

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(UIN:130B007V05)
(ADVT NO:II-Sep-2024-5506)