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Types of Insurance Rider
An insurance rider is an add-on to the policy that an investor undertakes. It offers additional benefits apart from the usual benefits of the ongoing policy and is subjugated to certain terms and conditions. It is a means to maximize the benefits of life insurance plan to customize the policy to suit the investor's personal needs. A rider is a crucial tool to expand your life insurance coverage. A rider might have an additional charge associated with it in most cases over the standard cost of insurance while it is also the possibility that you would get a free rider.
1 Crore Term Insurance @Rs.19/day***
To delay is to regret
You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.
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Return of Premium (ROP) Option^
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17% Online Discount**
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Same Day Claim Processing#
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100% Claims guaranteed15
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0% GST on Premiums#^#
Please wait while we are calculating term insurance premium for 1 crore
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Type and Benefits of Insurance Riders
Table of Content
Various riders as per your requirement
Critical illness rider
Under this category the investor needs to pay an extra amount to cover herself / himself in case the person is diagnosed with any critical ailments such as cancer, heart attack and brain tumor. This rider acts as an income replacement plan and the amount received under the rider can be used to meet both medical and household expenses.
Disability rider
This rider is beneficial in case of permanent or temporary disability owing to an accident. Generally the insurer pays a certain sum assured for the next five or ten years in such situations. Also, all future premiums on the main insurance policy are waived off by the insurance company.
Accidental death benefit rider
All life insurance plans cover accidental death. However, when you buy an accidental death rider, the insurer pays double the sum assured to your nominee in case you die in an accident.
Term rider
This rider offers monthly income to nominee on death of life assured.
Waiver of premium rider
This rider ensures that your life insurance policy stays active even if you are unable to pay your premiums. The effect of this policy would be waiving off all future premiums but the continuation of the policy benefits.
Benefits of riders
By attaching a rider to a regular policy one can get the advantage of extra coverage to deal with household expenses, loan EMIs and for other financial liabilities apart from medical expenses. Investing in a rider is more affordable than investing in a regular insurance. Furthermore, riders also enjoy tax benefits as per the prevailing tax rules.
Related Articles:
- What is the Significance of Riders in a Life Insurance Policy ?
- When is the Best Age to Buy a Term Insurance Plan?
Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
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Here's all you should know about life insurance.
We help you to make informed insurance decisions for a life time.
HDFC Life
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HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
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@As per integrated annual report FY24-25, available on www.hdfclife.com. As of May 2025
#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved
^ Available under Life & Life Plus plan options
***Online Premium for Life Option for HDFC Life Click 2 Protect Supreme(UIN:101N183V01), Male Life Assured, Non-Smoker, salaried, 20 years of age, Policy term of 25 years, Regular pay, Monthly frequency, inclusive of 15% online discount (applicable only for 1st year premium) & exclusive of taxes and levies as applicable. (Monthly Premium of 573/30=19).
**If a customer is a Salaried individual and has opted for a cover of INR 2 Cr with Limited pay, then the total discounts applicable shall be: 10% +7% = 17% discount on the first year premiums.
~Tax benefits of ₹ 54,600 (₹ 46,800 u/s 80C & ₹ 7,800 u/s 80D) is calculated at highest tax slab rate of 30% on life insurance premium u/s 80C of ₹ 1,50,000 and health premium (Critical illness rider) u/s 80D of ₹ 25,000. Tax benefits are subject to conditions under section 80C, 80D, 10(10D) as per Income Tax Act, 1961. Please consult your tax advisor for more information.
*Online Premium for Life Option, Male Life Assured, Non-Smoker, 20 years of age, Policy term of 25 years, Regular pay, Monthly frequency, exclusive of taxes and levies as applicable.
#^# Individual Life Insurance Policies issued on or subsequent to 22nd, September 2025, shall be exempt from GST under the provisions of the Goods and Services Tax, 2017.
15. HDFC Life Click 2 Protect Ultimate(UIN: 101N179V01) A Non-Linked, Non-Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. The policy must be in force on the date of death, with all premiums fully paid, except for the exclusion clauses mentioned in Part F of the policy document.
