• Term Insurance with Riders in India

     4.5 / 5.0   by 18 users
    Used this product? Write a review >>

    Term insurance is one of the most popular forms of insurance availed by Indians. These insurance plans are usually aimed at providing insurance protection to your family in case of unfortunate and unforeseen circumstances. Term insurance is a good option for people who wish to lead a stress-free life with respect to their families.

    Availing a separate rider with your term insurance policy may marginally increase your insurance premium. The increase depends upon the type of rider availed by you. Addition of these riders is not linked to the base insurance policy in any way. The best way to choose these riders is to first realize your future financial need and then zero down on the rider that suits your financial requirement the best. Different insurance providers offer various kinds of riders for various financial needs. The additional cost of these riders depends upon the life insurance company from which you have availed your insurance.

    Riders for Term Insurance

    Riders are one of the foremost distinguishing features of term insurance. These riders offer additional protection and coverage via payment of a marginally higher premium. Any term insurance rider can be understood as an amendment to the actual term insurance policy. Riders are available for various purposes and can be chosen and attached to the base policy to reap extended benefits out of your term insurance policy.

    Types of Riders for Term Insurance

    Listed below are some of the most important riders that are available for almost all kinds of insurance policies offered by insurance providers in India.

    1. Waiver of Premium

      Waiver of premium is an excellent rider for safeguarding policy holders against policy lapse in case of non-payment of insurance premiums. Most insurance policies cease to be active in case you are unable to pay premiums for a specific period of time. This non-payment of premiums may arise out of financial situations like joblessness etc. Waiver of premium rider ensures that your policy remains in force even if you are unable to pay your premiums. The effect of this rider would be waiving off of all your future premiums but continuation of policy benefits.

    2. Critical Illness

      Expenses made towards any critical illness can amount to a major chunk of the expense incurred by any individual. Hence, a critical illness rider goes a long way in shielding policyholders from any major medical expense and also makes sure that medical attention is not delayed or ignored due to lack of financial resources. Generally critical illness riders extend medical coverage for illnesses like heart attack, stroke, cancer, kidney failure, paralysis and certain other illnesses. The rider helps policyholders avail a certain pre-decided lump-sum amount as soon as any of the above listed critical illnesses are diagnosed. The base term insurance policy may continue its coverage or may terminate depending upon the terms and conditions of the insurance policy. This is generally dependent on the insurance provider who is offering the policy.

    3. Accidental Death

      This rider is best suited to individuals who wish to leave their families a substantial sum of money in case of sudden accidental death. Since, accidental death may involve higher medical expenses and unfulfilled financial liabilities, the accidental death rider offers extra payment to your family in case of death due to accident. The basic sum assured applicable on term insurance will still be paid even if this rider is not availed by the policyholder.

    4. Partial and Permanent Disability

      There may be times that policyholder may suffer from partial or permanent disability due to accident. In such cases, the partial and permanent disability rider offers staggered payments which are a percentage of the total sum assured of the insurance policy. Most policies offer 10% or more of the sum assured each year to the individual or his/her family. This is done in order to compensate for the loss of regular income that may arise due to partial or permanent disability of the policyholder.

    5. Income Benefit Rider

      This rider offers benefit to the insurance holder’s family in case of his/her sudden death. The aim of this rider is to act as a regular income source for the family of the deceased policyholder. Payment is generally made as some percentage of the total sum assured and this acts as supplementary income for dependents.

      Reading about the above few riders, it is clear that riders are a great financial tool to help you plan wisely for unfortunate and unforeseen events of your life. These events may not necessarily occur in every individual’s life but nonetheless, planning for them is the best strategy to keep oneself and one’s family protected at all times and under all circumstances.

    Term Insurance with Riders in India Reviews

  • Page 1 of 1
    • PNB Metlife Life Insurance
      "Right place to shop"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the PNB metlife and I got it before a week of time. I would like to say that the coverage value is good one with them and I got the better offer with this with all riders and medical coverage too.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 04, 2018
    • HDFC Life Life Insurance
      "Secure your life"
      0.5 4.5/5 "Excellent!"
      With the HDFC life insurance company, I do have term life insurance policy and the premium is around 18000 Rupees per annum . Coverage value is around one crore Rupees and the response is good with them till now and I have not faced any drawbacks with them. It come with two riders like it covers critical illness and accidental illness.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 20, 2017
    • LIC Life Insurance
      "Servicing the customer with affordable price...."
      0.5 4.5/5 "Excellent!"
      LIC has their matured policy and stable policies in the market. I have gone with endowment plan and that is stable and it make sure the claim is hundred percentage comparing to other insurance companies. Now they brought some riders like accidental coverage as in additional premium. Customer service is not that approachable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 29, 2016
    • LIC Life Insurance
      "The best insurance provider..."
      0.5 5.0/5 "Blown Away!"
      Claim settlement ratio at the LIC is very high and that pushed to go with them for the life insurance. We know that LIC is top in providing 98% of settlement ratio. No riders are there. LIC agent is my friend and took the plan from him. I am fine and satisfied.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 26, 2016
    • Aviva Life Insurance
      "Aviva Term Plan"
      0.5 4.0/5 "Great!"
      This is a basic term plan with no riders. There process was well organized, the application was initiated over the email and home visit was arranged for medical checkup. The entire process took almost two weeks before the plocy was rolled out. Apart from being competitively priced Aviva has decent claim settlement ratio.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 01, 2016
    • Aviva Life Insurance
      "Pure venilla insurance"
      0.5 4.5/5 "Excellent!"
      I have the pure term insurance policy with the Aviva insurance company. The main reason why I choose the term insurance with Aviva because of premium and they dint included with any riders. The claim approach is easy with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 08, 2016
    • LIC Life Insurance
      "portal is simple..."
      0.5 4.0/5 "Great!"
      Ten years ago I started with LIC and just like that I am paying premium. LIC is great in reminding the customers before the due date. Mine is just a normal plan and some riders are there but at present could not recollect. Portal of LIC is easy to enroll the details.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 22, 2015
    • HDFC Life Life Insurance
      "Premium is very less..."
      0.5 4.0/5 "Great!"
      The process was easier and the premium amount is competitive than other vendors in the market. Tenure I chose is for twenty years and one crore is the coverage. Permanent disabilities are been covered and there are number of riders in the term insurance. Also HDFC Life offers accident death riders.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 22, 2015
    • Bajaj Allianz Life Life Insurance
      "Door step service..."
      0.5 5.0/5 "Blown Away!"
      One f the reasons to open life insurance is the door step services that been offered by Bajaj Allianz General insurance. Easy to access their portal and view all the detail and smooth to switch funds. They are explaining the plan benefits clearly. In cash back policy, will get money back in some intervals and also some riders are there for permanent disabilities. Settlement ratio will be double.
      Was this review helpful? 0
      , greater noida
      Reviewed on Dec 01, 2015
    • LIC Life Insurance
      "Better!!!"
      0.5 4.0/5 "Great!"
      Lic is a Gov sector, hence their service and response is not that good. The only thing we can have a trust on Lic and invest money. I have taken a life insurance from Lic. Their policies are better. What ever coverage is given I am satisfied with that. They wont cheat or disappoint us as like few other private sectors. Premium is very reasonable. I feel that should give more riders compared to Private sectors.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Sep 19, 2015
    • Aegon Life Life Insurance
      "Very good"
      0.5 3.0/5 "Satisfactory"
      Ageon Religare TERM insurance is very good. The premium amount is very much competitive. This is a term insurance which I have taken. It helps my Dependants. Though the premium amount is less I am getting maximum benefit out of that. The policy coverage is one crore and yearly I have to pay about rs 9000 as premium. I am supposed to pay this for 70 years. They have explained about Riders benefit however I have not availed that facility.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 10, 2015
    • ICICI Prudential Life Insurance
      "Better!!!"
      0.5 3.0/5 "Satisfactory"
      I took insurance with ICICI prudential. It is a life insurance. It covers the whole life and accidental riders. The maturity period is for 20 years after which I will get the maturity amount. I used to pay the premium once in every year. through online. I would like to suggest that it would be better if they upgrade the existing policies so that other people will not tent to close the current policy and switch to others.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 28, 2015
    • Kotak Life Life Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      The term insurance from Kotak Mahindra Bank is good. The plan is for 22 years and its been 4 to 5 years back I have taken this. It has got the death benefits for which my nominee will be getting some amount after my death and also the riders are available for accidental and critical illness.
      Was this review helpful? 0
      , vadodara
      Reviewed on May 15, 2015
    • Edelweiss Tokio Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am holding a life insurance from Edelweiss Tokio life insurance. It is basically a term plan and it is for 30 years and it is a life coverage plan. I have attached the riders along with the insurance I have taken. If in case something happens to me I will be getting double the sum assured amount. I make my premium through online.
      Was this review helpful? 5
      , bangalore
      Reviewed on Apr 30, 2015
    • Aegon Life Life Insurance
      "My SA got increased without any extra charge"
      0.5 5.0/5 "Blown Away!"
      I opted for online term plan by Aegon Religare Life Insurance. The whole process of online application and step-by-step process was hassle free and I save a lot of time, completed the medicals on timely and issued my policy soon. One more imp: my SA got increased without any extra charges.excellent I opted for the maximum term i.e. up to 75 years of age and also has good riders available
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Mar 28, 2015
    • Aegon Life Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      Its almost 2 years before I took term insurance from Aegon religare. There is some certain amount fixed for this insurance as well as certain riders are available where I can opt for critical illness and medical facilities.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jan 21, 2015
    • LIC Life Insurance
      "Excellent"
      0.5 1.0/5 "Really Bad"
      With LIC, I have three different type of policies-Endorsement policy, life insurance policy as well as money back policy. On a quarterly as well as half yearly basis, I pay the premium by visiting the branch. There are no riders available in this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2015
    • LIC Life Insurance
      "Its good"
      0.5 5.0/5 "Blown Away!"
      LIC is good at interest rate good service good interest and good product good in terms of policy we have done and policy riders and many benefits theyprovide and their overall service is good and it is one of the best insurance provider and I will recommend this one
      Was this review helpful? 0
      , gwalior
      Reviewed on Jul 22, 2014
    Common Loader Icon
    Page 1 of 1
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.