<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.

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

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

<div class="summary">
<p class="summary-content">Life insurance plays a vital role in securing your loved ones&#39; financial future in India. Beyond offering peace of mind, it comes packed with features designed to cater to various needs and life stages. Understanding these features empowers you to choose a life insurance plan that aligns perfectly with your financial goals and responsibilities. Let&#39;s delve deeper into the key features of <a href="https://www.bhartiaxa.com/life-insurance" target="_blank">life insurance</a> in India.</p>
</div>

<div class="summary">
<h3>1. Death Benefit</h3>

<p>The cornerstone of life insurance, the death benefit is a guaranteed lump sum payout disbursed to your designated beneficiaries upon your demise (as long as premiums are paid on time). This financial cushion helps your family manage living expenses, pay off debts, and achieve crucial financial goals you envisioned for them.</p>

<ul>
	<li><strong>Death Benefit Amount:</strong> The coverage amount varies depending on the type of plan and the premium you pay. Carefully consider your dependents&#39; financial needs and future goals when determining the ideal coverage amount.</li>
</ul>

<h3>2. Policy Term</h3>

<p>The policy term refers to the specific period for which your life insurance coverage remains active. <a href="https://www.bhartiaxa.com/term-insurance" target="_blank">Term life insurance plans</a> offer coverage for a predefined period (e.g., 20 years, 30 years). Whole life insurance, on the other hand, provides coverage throughout your lifetime. Choosing the right policy term hinges on your financial goals and the duration your dependents require financial support.</p>

<h3>3. Policy Lapse</h3>

<p>A policy lapse occurs if you fail to pay premiums within the grace period specified in the policy document. This can lead to policy termination and loss of coverage. Most life insurance plans offer revival options, allowing you to reinstate the policy within a stipulated timeframe by paying the due premiums and any applicable revival charges.</p>

<h3>4. Grace Period</h3>

<p>Life throws unexpected curveballs. The grace period is a buffer window provided by most life insurance companies after a premium due date. During this grace period, you can pay the missed premium without any penalty to keep your policy active and avoid a lapse. The grace period duration varies depending on the specific policy terms.</p>

<h3>5. Maturity Benefit (In Certain Plans)</h3>

<p>While term life insurance focuses solely on the death benefit, some life insurance plans like whole life insurance or endowment plans offer a maturity benefit. This benefit is a lump sum payout received at the end of the policy term if you survive the policy term. The maturity benefit amount along with any accumulated bonuses can be a valuable source of funds for retirement or other financial goals.</p>

<h3>6. Riders (Optional Add-Ons)</h3>

<p>Riders are optional add-on benefits that can be attached to your base life insurance plan for an additional premium. These riders enhance your coverage and cater to specific needs. Here are some popular riders to consider:</p>

<ul>
	<li><strong>Accidental Death Benefit Rider:</strong> This rider offers an additional payout in case of accidental death, providing greater financial support for your beneficiaries.</li>
	<li><strong>Waiver of Premium Rider:</strong> This rider waives future premiums if you become disabled and are unable to earn an income. This ensures your policy remains active without financial strain on your family.</li>
	<li><strong>Critical Illness Rider:</strong> This rider provides a lump sum payout if you are diagnosed with a critical illness covered under the policy, helping manage treatment costs.</li>
</ul>

<h3>7. Premium Payment Options</h3>

<p>Life insurance companies offer various options for premium payment frequency. You can choose to pay premiums annually, semi-annually, quarterly, or even monthly, aligning the payment schedule with your income flow and budget.</p>

<h3>8. Claim Settlement Process</h3>

<p>In the unfortunate event of a policyholder&#39;s demise, the beneficiaries need to initiate a claim process. Most life insurance companies have streamlined claim settlement procedures. By understanding the required documents and claim process beforehand, beneficiaries can navigate this challenging time more efficiently.</p>

<h3>9. Surrender Value (In Certain Plans)</h3>

<p>Some life insurance plans, like <a href="https://www.bhartiaxa.com/life-insurance/whole-life-insurance" target="_blank">whole life insurance plans</a>, accumulate a cash value component over time. This cash value can be surrendered for a certain amount (subject to policy terms and conditions) if you decide to discontinue the policy before its maturity.</p>

<h3>10. Loan Options (In Certain Plans)</h3>

<p>Certain life insurance plans, particularly whole life and endowment plans, allow you to borrow against the accumulated cash value at a predetermined interest rate. This can be a source of funds for unexpected financial needs while keeping your policy active. However, it&#39;s important to remember that outstanding loans accrue interest and can reduce the ultimate death benefit payout or maturity benefit amount.</p>

<h2>Choosing the Right Features</h2>

<p>With a multitude of features available, selecting the ones that best suit your needs is crucial. Here are some key considerations:</p>

<ul>
	<li><strong>Your Life Stage and Dependents:</strong> Consider the ages of your dependents and how long they might require financial support.</li>
	<li><strong>Financial Goals:</strong> Identify your long-term financial goals for your family (e.g., child&#39;s education, wedding expenses) and choose features that can contribute to achieving them (e.g., maturity benefit).</li>
	<li><strong>Risk Tolerance:</strong> Evaluate your comfort level with market fluctuations. Riders like waiver of premium rider offer additional security but come at an extra cost.</li>
	<li><strong>Budget:</strong> Life insurance premiums can vary depending on the chosen features and coverage amount. Be realistic about your budget and choose features that align with your financial capabilities.</li>
</ul>

<p><strong>Conclusion</strong></p>

<p>Life insurance features offer a customizable approach to financial protection. By understanding these features and carefully considering your individual needs and circumstances, you can choose a life insurance plan that provides comprehensive coverage and peace of mind for you and your loved ones. Consulting a financial advisor can be highly beneficial. They can assess your financial situation, risk tolerance, and goals to recommend a life insurance plan with the most suitable features to create a robust financial safety net for your family&#39;s future. Remember, life insurance is an investment in your loved ones&#39; well-being, and understanding its features empowers you to make informed decisions for their financial security.</p>
</div>


Term Insurance Rider

Feature of Life Insurance and its Benefits | Bharti AXA Life

Life Insurance is so crucial for protecting the future of your loved ones in case of any unfortunate happening. Here are top features of life insurance one must consider.

life insurance, life insurance plan, life insurance policy, feature of life insurance, life insurance features, features of insurance policy, features of insurance policies

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6 Features of Life Insurance Policies That Can Help You Ensure a Secure Future 

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Riders

Term Rider

Insurance Plans | Life Term Rider | Bharti AXA Life Insurance

This Life Term Rider pays out an additional Sum Assured in case of death of the Life Insured. This amount is in addition to the Death Benefit under the Base Policy.

<table>
	<thead>
		<tr>
			<th>Parameter</th>
			<th>Eligibility Criteria</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td width="301">
			<p>Minimum /Maximum Age at Entry</p>
			</td>
			<td width="301">
			<p>18 years to 60 years (age last birthday)</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Maximum Maturity Age</p>
			</td>
			<td width="301">
			<p>70 years</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Rider Term</p>
			</td>
			<td width="301">
			<p>Minimum: 5 years and Maximum: 25 years&nbsp;<br />
			(Rider Term cannot exceed the Premium Payment Term of the Base Policy)</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Premium Payment Term</p>
			</td>
			<td width="301">
			<p>Regular Premium</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Premium Payment Frequency</p>
			</td>
			<td width="301">
			<p>Annual, Semi- Annual, Quarterly&nbsp;&amp; Monthly *</p>
			</td>
		</tr>
		<tr>
			<td width="301">
			<p>Death Benefit</p>
			</td>
			<td width="301">
			<p>Rider Sum Assured</p>
			</td>
		</tr>
	</tbody>
</table>

<p>*ECS only</p>


Who can buy?

<p>Bharti AXA Life Term Rider pays out additional Sum Assured in case of death of the Life Insured. The Rider Sum Assured in addition to the Death Benefit under the Base Policy will be paid to the nominee and the rider will cease to exist.</p>

<p>For e.g. Rahul purchases a Bharti AXA plan and selects the Term Rider option. The Sum Assured under the Base Plan is Rs. 500,000. Rahul chooses a Sum Assured of Rs. 500,000 as Term Rider Sum Assured. In case of an unfortunate event of death, Rahul’s nominee will receive Death Benefit as applicable under the Base Plan &amp; will additionally receive Rs. 500,000 as a part of the Rider’s Death Benefit.</p>


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<p>1. Enhanced Protection in case of Death: In case of an unfortunate event of death, the nominee will receive Rider Sum Assured in addition to the Death Benefit applicable under the Base Policy</p>

<p>2. Flexibility to choose Rider Coverage Term: Term Rider can be taken for terms that range from 5 years to 25 years. You have the flexibility to choose the coverage term for the rider however the rider term cannot exceed the premium payment term of the Base Policy.</p>

<p>3. Tax Benefits: You can avail tax benefits on premium paid subject to current provisions of Tax.</p>


Benefits you will receive

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<p>Non-Linked Non-Participating Term Insurance Rider</p>

<p>This Life Term Rider pays out an additional Sum Assured in case of death of the Life Insured. This amount is in addition to the Death Benefit under the Base Policy.</p>


Bharti AXA Life Term Rider

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Bharti AXA Life Term Rider

(UIN:130B009V03)
(ADVT NO:II-Sep-2024-5505)

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Parameter	Eligibility Criteria
Minimum /Maximum Age at Entry	18 years to 60 years (age last birthday)
Maximum Maturity Age	70 years
Rider Term	Minimum: 5 years and Maximum: 25 years (Rider Term cannot exceed the Premium Payment Term of the Base Policy)
Premium Payment Term	Regular Premium
Premium Payment Frequency	Annual, Semi- Annual, Quarterly & Monthly *
Death Benefit	Rider Sum Assured

Bharti AXA Life Term Rider

(UIN:130B009V03) (ADVT NO:II-Sep-2024-5505)

4 Reasons to Buy

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(UIN:130B009V03)
(ADVT NO:II-Sep-2024-5505)