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You take an insurance policy and when the time comes for a claim, you come to know that a certain thing is not covered under this scheme. Such things can harm you. If you want to make your insurance more beneficial and want everything to be covered, then you will have to use a special facility. This is called ‘rider’ in insurance language. Just like top-ups used to happen with recharge, these are riders that add new features and facilities to your insurance.

Riders are small add-ons you add to your policy that help pay for situations like illness, accident or loss of work. The base policy often only covers death and some medical expenses, so by adding a rider, you protect yourself and your family’s actual needs.

These are small extra covers added to the policy. These are not available automatically, after taking the policy, if you want them, you have to add them separately and you have to pay a separate premium for them. Riders are necessary because the basic policy does not cover all types of problems.

Some easy riders and their work

Critical Illness Rider: It gives the collected money in case of major illness like cancer or heart attack. This helps in handling huge medical bills and household expenses.

Disability Rider: If you are unable to work due to injury or illness, this rider pays you money so that your household income does not fall short.

Accident Rider: Accidental Benefit cover is a cover which provides additional amount in case of death or permanent injury.

Hospital Cash Rider: On hospitalization, you get a small amount per day which is used for small expenses like room charges or medicines.

When should a rider be taken?

If you are the primary breadwinner of the household, have a home loan, or have a risky job, it makes sense to take the rider. Riders are cheaper when they are young and in good health, so it is better to add them early.

A separate premium has to be paid for the rider and the terms and conditions of each rider are different. There is a waiting period for some riders who are not covered immediately. Some situations may also be excluded, so read the written terms of the policy carefully. Don’t buy it just by hearing its name or because it is expensive, choose as per your need.