Life insurance is for protecting your life cover. Some time the life insurance is not enough for you to protect from unexpected expenses like accident and illness. In that case you have to prepare for some other plans other than the normal life insurance policies. In this article I am exploring about the life insurance riders, which will provide the option of adding more benefits on top of your life insurance policies.
What is Life Insurance Riders?
Riders are additional benefits that can be purchased with an insurance policy. As I mentioned in the above section, apart from the basic life insurance policy you have to option to add some extra benefits to protect from the unexpected happenings. For example, if you met any accident which cause more damage to your health, you can utilize the Accidental Disability/Dismemberment Benefit rider. In the event of total and permanent disability during the term of the policy due to an accident (within a specified period from the date of accident), an amount equal to or less than the rider sum assured is be paid to the insured. There are different types of riders in the life insurance policies. I will write it on my next article.
In this article I have explained about the life insurance rider and the benefits. This is very useful when you can make the some extra premium for the rider policy to get the benefit while you are affected. Thank you for reading the article. You can subscribe to our future articles here.