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How Riders Provide Enhanced Protection

  8/26/16 5:30 AM

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Along with basic life insurance, life insurers offer additional security to you in the form of riders? What are riders? They are add-ons to the policy to enhance the life cover provided to you, which provide you with a Plan B. Just like car insurance providers offer road-side breakdown assistance, life insurers provide riders on additional payment to secure your life cover and consequently your peace of mind. Here, we discuss some important riders that you may consider adding to your life insurance policy.

Waiver Of Premium (WOP)

Waiver of Premium Rider provides you protection in case you are diagnosed with a critical illness or meet with an accident resulting in total and permanent disability. This rider is meant to safeguard your income for the burden of having to pay premiums on your life insurance policy. If you are critically ill or meet with an accident resulting in a disability as specified in the policy document, your premiums for the rest of the policy tenure is waived off and the policy continues to cover you for the same amount. Thus, you will get life cover without having to pay premiums on account of your income earning capacity having got hindered.

Accidental Total and Permanent Disability (ATPD)

Accidental Total and Permanent Disability Rider provides you with a lump sum to cater to your immediate expenses in case your income earning capacity is hindered due to an accidental disability (total & permanent). If you meet with an accident that renders you totally incapacitated and unable to engage yourself in a gainful occupation, you are paid a lump sum, and the policy still continues with Base Sum Assured. Thus, you get a lump sum payment to tide over the difficult times when you are unable to earn any income.

Accidental Death Benefit(ADB)

Accidental Death Benefit Rider provides for additional financial security in case any death occurs due to accident. This rider provides for giving the beneficiary of the policy an additional sum in the event of the Life Assured meeting with an untimely demise due to an accident. This amount is paid in lump sum and is over and above the Base Sum Assured that is paid.

Critical Illness(CI)

Critical Illness Rider Provides you with a lump sum to cater to your immediate expenses in case your income earning capacity is hindered in the event of critical illness. Just like an accidental total and permanent disability rider, the critical illness rider provides for a lump sum payment on diagnosis of a pre-listed critical illness. This is to reinforce your financial condition which would be impacted by the lack of income earning capacity owing to the critical illness.


Buying life insurance is an important and informed decision that you are making. Fortify this decision by adding riders to your policy for ensuring in place Plan B

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