RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

A Comprehensive Guide for Term Insurance Riders

down-arrow
March 16, 2019

Insurance serves as a very viable financial tool that acts as a hedge against future uncertainties and life's unseen circumstances. Life insurance acts as a futuristic guarantee that serves to protect your family's interests in the event of any contingency and that too even in your absence. A traditional life insurance plan entitles the policy holder's nominee (s) to receive the main plan benefit i.e. the sum assured in the event of the policy holder's demise during the plan term. In addition, in the event of the policy holder's survival, there are accrued maturity benefits that are payable to the policy holder. However, this is where a traditional term insurance plan differs from a traditional life insurance plan. A term insurance plan does not include any maturity benefits. However, a traditional term insurance plan entitles the policy holder's nominee (s) to receive the main plan benefit i.e. the sum assured in the event of the policy holder's demise during the plan term.

A term insurance plan offers several additional riders in addition to the main plan benefits.

These riders come with a proportionally increased premium and are of the following types:

  1. Accelerated death benefit rider:

    This is an additional feature that comes as an extra rider and entitles a policy holder or her/his nominee(s) to receive additional benefits (apart from the main plan benefits) in the event of the policy holder's demise due to any specified and pre-defined reason

  2. Accidental Death benefit:

    This is a rider that comes with a clause of lump-sum payment of the sum assured to the nominee(s) in the event of the policy holder's demise due to an accidental reason.

  3. Accidental disability rider:

    This is a very important rider that comes with the clause of financial protection coverage in the event of any kind of disability due premium terms and therefore, must be chosen as per the actual requirement  and not randomly.

  4. Critical illness rider:

    This is an additional clause that offers extra coverage in lieu of the added premium terms and accompanying payment options. This clause offers complete financial coverage against the probability of any critical illness. This clause offers coverage against critical illnesses that are defined and listed in the policy documents.

  5. Income rider:

    This is the rider that entitles the policy holder's nominee(s) to receive a particular sum as a fixed income in the event of the policy holder's demise during the plan term.

  6. Waiver of premium:

    This is a very beneficial rider that is often added to certain plans, especially a child plan. This rider states that there will be no payable premiums in the event of the policy holder's demise and that her/his nominee(s) will be entitled to the main plan benefits.

HDFC Life offers several term insurance plans that seek to secure your family's future at all times and during all stages of life. For details, click on the mentioned link: https://www.hdfclife.com/term-insurance-plans.

 

Related Articles

Buy Term Insurance Rider

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues 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.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Term Insurance and Life Insurance

Term Insurance and Life Insurance

The differences between term insurance and life insurance are explored, comparing coverage, premiums, benefits, and flexibility to guide informed financial decisions.

4 Common Mistakes to Avoid When Planning to Buy Term Insurance

How to Choose the Right Term Policy Period?

Eligibility Criteria for Buying Term Insurance in India

Know about the eligibility criteria for purchasing term insurance plan. Our step-by-step guide helps you determine eligibility and how to buy term plans online.

Eligibility Criteria for Buying Term Insurance in India
Pure Term Insurance Vs Return of Premium Vs Permanent Life Insurance Previous
Term Insurance Claim Rejection Reasons You Must Know Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

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.

Popular Search

Popular Searches