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Term insurance is a crucial life insurance product that ensures your loved ones remain financially protected in your absence. While buying a term insurance plan, you pay for a life cover that provides security throughout the policy term. To enhance life coverage, insurance companies offer add-ons or riders at a minimal cost. These optional benefits provide additional protection, such as critical illness cover, disability cover, and accidental death cover.
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Let us look at some of the benefits of the different types of term insurance riders available in India 2025.
Term riders or riders in term insurance are the add-on benefits that can be added to the base term plan to enhance the plan’s base coverage. These optional or inbuilt benefits can help you customise the term insurance cover to fit your needs. While inbuilt term riders are free of cost, the optional riders can be included at nominal extra costs paid with the base premium amount. These term life insurance with riders can help you receive protection against various eventualities like critical illness, disabilities, and more.
Note: Know what is term insurance first and then buy a term plan for your loved ones.
Term Plans
Now that we have understood the term rider meaning, here is the list of all the benefits of including term insurance riders in your base term plan.
Enhanced Coverage: Term life insurance with riders can enhance the coverage of your regular term plan. Your base term insurance plan might not provide coverage against accidental disabilities, medical costs, or waiver of premiums, but with riders in term insurance, you can get coverage against these eventualities as well.
Pocket-friendly Prices: Buying different life insurance plans to fit different needs can be expensive. Instead, you can customize your term plan to fit all your insurance requirements by including term insurance riders to the base at affordable prices.
Note: It is suggested that the term plan premium be calculated using the term insurance calculator online tool by Policybazaar before buying the plan.
Provides Emergency Income: Term life insurance riders like HospiCare benefit can help provide financial aid in case you are hospitalized. This rider payout can help you pay for the medical bills and treatments in peace and lets you focus on your recovery.
Additional Amount: With riders like the accidental death benefit, you can secure a larger amount on top of the base sum assured for your family to receive, in case you pass away due to an accident. These term life insurance with riders allows you to secure a larger amount for your family at nominal premiums.
Tax Benefits: You can get term insurance tax benefits under sections 80C and 10(10D) as per the prevailing tax laws of the IT Act of 1961. But by including term insurance riders like HospiCare and Critical Illness you can also get tax benefits under section 80D as well.
Term insurance riders allow policyholders to opt for various optional add-on benefits. These riders are the best way to enhance the protection provided by a policy. Term insurance add-ons provide comprehensive coverage, ensuring strong financial security for your family.
Let us look at all the term insurance riders list available in India that you can add to your base term life insurance plan for increased coverage.
The Accidental Death Benefit Rider pays an extra rider sum assured in case of the policyholder’s unfortunate death due to an accident. This amount is paid in addition to the base sum assured of the policy.
For example, a person purchased a term life insurance for a sum assured of Rs. 2 Crore and included the accidental death benefit rider in their base plan for Rs. 50 Lacs. In case the policyholder suffers an unfortunate death due to an accident specified in the policy’s terms and conditions, the nominee would receive the base sum assured i.e., Rs. 2 Crore and the rider sum assured Rs. 50 Lacs. Therefore, the nominee would receive a total of Rs. 2.5 Crore on the death of the policyholder.
This term life insurance rider provides coverage in case the policyholder suffers a total or permanent disability, which means, the permanent and total loss of two limbs due to an accident. In the ATPD rider or the accidental total and permanent disability in term insurance, a percentage of the base sum assured is paid over a span of 5 to 10 years regularly to make up for your loss of income due to disability.
For example, Raman purchased a term insurance with accidental disability rider, with the base sum assured of 1 Crore and the accidental total and permanent rider sum assured as 15 Lacs. If he suffers an accidental total and permanent disability during the policy term, then he would receive the 15 Lac rider sum assured, to help him take care of his medical emergencies or other expenses, and the 1 Crore term insurance cover will continue as normal for the remaining policy term.
With a critical illness rider, you can receive the rider sum assured as a lump sum amount in case of diagnosis of any critical illness specified under the plan details. Some examples of critical illnesses covered are Heart Attack, Cancer, Stroke, Coronary artery bypass graft surgery (CABG), Kidney failure, and Paralysis. The payout can be used to pay for the treatment of the illness and help you focus on your recovery. You should always compare the list of critical illnesses covered under the term insurance rider and purchase the plan with the most comprehensive coverage.
For example, Kiran purchased a term insurance with critical illness rider that has a base sum assured of 5 Crore and the rider sum assured of 50 Lacs. During the policy term, she was unfortunately diagnosed with a critical illness listed under the plan, and received the rider sum assured of 50 Lacs. She used this amount to pay for her medical bills and thus didn’t have to dip into her savings to pay for the treatment. The base cover of the policy continues as normal for the entire policy term.
The waiver of premium rider can waive off the remaining premiums in case of an eventuality. This is the best way to avoid the policyholder from being burdened with having to pay the premiums in case of a job loss due to a disability or a critical illness but still remain covered under the policy benefits. The rider comes in two variants and you can include them in your base plan as per your requirements. The two variants are waiver of premiums on accidental total and permanent disability and waiver of premium on critical illness.
For example, Suman bought a term life insurance with rider of waiver of premium. She was diagnosed with a critical illness covered under the plan and ended up losing her job due to the illness. The insurer then waived off all of her remaining premiums, which allowed her to get continued coverage under the plan without having to worry about the premium payments.
This term insurance rider pays a specific percentage of the base sum assured to the policyholder in case of their hospitalization. In case the policyholder is admitted into the ICU the hospitalization percentage payout is usually doubled. This payout can help individuals take care of their hefty medical bills and focus on their speedy recovery. You should go through the policy details and its terms and conditions as there are often some limitations to this term rider.
For example, Payal bought a term life insurance with rider of hospital cash benefits. She purchased the policy with a hospital cash benefit rider which pays an additional amount in case she is hospitalised in the general ward and a larger percentage in case she is admitted in the ICU during the policy term. This allows her to recover without worrying about draining her savings during a medical emergency.
In case the policyholder is diagnosed with a terminal illness benefits, this term insurance rider pays the entire sum assured or a part of the sum assured to the policyholder to take care of the medical costs and treatments. This can help the policyholder ensure that they receive the best medical care and since the sum assured would be paid in advance, the policyholder can decide how they want the benefit payout to be used.
For example, Abhimanyu purchased a term insurance rider with terminal illness cover. He was unfortunately diagnosed with a terminal illness during the policy term, which meant he could live for no more than 6 months. He intimated his diagnosis to the insurer and received a part of the sum assured in advance that allowed him to seek the medical help overseas. Unfortunately, he still passed away due to the disease, and the insurer paid the remaining sum assured to his family as the death benefit.
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Yes, you should buy term life insurance with riders, as they can enhance the base cover of the policy at highly affordable premiums. Buying riders with term insurance can be a smart move to get extra protection. Term Insurance Riders are add-ons that you can include in your life insurance policy to cover specific needs, like critical illness or accidental death. For a small increase in your premium, term riders can offer valuable benefits, such as a payout if you're diagnosed with a serious illness or if an accident leads to death or disability. This can provide financial security and peace of mind, ensuring that your loved ones are supported in unexpected situations. Before adding term life insurance riders, consider your needs, budget, and existing coverage to make sure you're making the best choice for your family.
Riders are valuable add-ons to your term insurance plan that offer extra protection. Here’s why they’re important:
Riders can enhance your current plan by covering unexpected situations that might cause serious financial strain, ensuring you always have a safety net.
A critical illness rider can help pay for the expensive treatment of serious diseases, protecting your savings and keeping your daily life and future plans on track.
In the event of an accidental death, riders can provide additional financial support to you and your loved ones, offering better overall protection.
Here is a list of key points to remember you should know before adding the important term riders to your base plan.
Term riders are often optional but as per the plan details can also be inbuilt
Term insurance riders provide coverage as per the policy’s terms and conditions
Term life insurance rider premiums are much lower than the base premiums for the policy
Term plan rider coverage tenure cannot exceed the policy’s tenure
The term riders can be added either at the time of policy purchase or at the policy anniversary as per the policy details
Term plan riders can help provide peace of mind with their extended coverage
Adding the most suitable term insurance riders to the base plan can prove very beneficial. While comparing online, you should review the list of term riders available in each plan and purchase the plan with the most comprehensive coverage.
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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