Understanding Riders and Their Benefits for your Term Insurance | Aviva India Skip to main content

Understanding Riders and Their Benefits for your Term Insurance

Term insurance, as we all know, is a type of life insurance policy that offers financial protection to your family members in the event of your unfortunate death during a specified period. It offers a high amount of coverage for a specific period of time, such as during their working years or when you have significant financial responsibilities. 

You can also add an extra layer of financial protection to these term insurance plans. Riders enable you to take your term insurance policy to the next level of protection! 

Read on to know more:

What Are Riders

Riders are designed to offer you additional features and benefits that can be added to your basic term insurance policy. They are crucial in enhancing your term insurance coverage and allow you to customise it according to your needs.

Benefits Of Riders

Opting for these riders is a smart choice to make the most out of the term insurance plan you have selected. Here are some benefits that you can avail yourself when you add riders to your insurance

  • Enhanced Protection - Riders provide additional protection that goes beyond the standard benefit. They offer coverage for specific situations, such as accidental death, terminal illness, or critical illness, thus ensuring financial support when it is needed the most.
  • Cost-Effective Solutions - riders are often available at an affordable cost. You can enhance the protection of your term insurance plans without any significant increase in their premiums.
  • Flexibility- riders can be added or removed from term insurance plans as and when needed, thus offering enough flexibility in adjusting the coverage as life circumstances change. 
  • Easy To Manage - Instead of managing multiple insurance types, you can opt for riders over your term insurance policies to easily consolidate all benefits under a single plan. This also ensures that insurance costs remain affordable.

Types of Riders 

Some of the most common types of riders that you can opt to enhance the coverage of your term insurance plans include:

  1. Accidental Death Benefit
    It is applicable when your unfortunate passing is the result of an accident or any other unforeseen event. The beneficiary is provided with an additional sum, which is calculated on the original sum of the term insurance policy. The accidental death benefit rider offers extra financial protection and can help ease the monetary burden on your loved ones in these instances. 
  2. Critical Illness Rider
    With this rider, you become eligible to receive a lump sum if you are diagnosed with a critical illness covered under the original term insurance policy. Such ailments might include cancer, heart disease, kidney failure, and other critical illnesses. The insurance covers the expensive medical costs and other financial obligations that usually follow such challenging times, giving you the time and ability to fully focus on your recovery without worrying.
  3. Waiver Of Premium Rider
    The waiver of premium rider waives the need to pay future premiums for the term insurance plans when you become disabled due to an illness or an accident. It helps to ensure that the basic coverage remains intact even if you cannot work and helps prevent the policy from lapsing.
  4. Disability Income Rider
    This rider offers financial protection in terms of a regular income if you become disabled or are unable to work. It helps to replace the lost income during the disability period by ensuring that you continue to meet your financial requirements. 
  5. Terminal Illness Rider
    The terminal illness rider is an add-on feature available in most term plans, offering you a portion of the death benefit before passing if you are diagnosed with a terminal illness. 

With the help of these advance payouts, you can cover most of your medical expenses, if not more. 


Riders are important as they offer optimum flexibility to the basic term insurance policy, thus allowing individuals to customize their coverage according to their needs. 

From family security to cost-effective solutions and enhanced protection, the list of additional benefits one can enjoy with these riders is vast. The riders make your insurance a comprehensive safety net, addressing specific risks and needs of different individuals. By choosing the best term plan and riders, you can ensure financial security for you and your loved ones. 

Aviva life insurance offers term plans with comprehensive benefits and additional coverage for terminal illnesses. Adding these riders to term insurance policies allows you to tailor your insurance coverage to meet your specific needs, thus embracing an extra layer of protection and peace of mind for yourself and your loved ones.


AN Aug 25/23 

Talk to an Expert

Leave a Reply

Add new comment

Filtered HTML

  • Web page addresses and email addresses turn into links automatically.
  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.