Life Insurance Simplified

What Are Riders

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In insurance, riders are nothing but add-ons to the basic policy at a supplementary cost. With the help of riders you can maximize the benefits of your basic policy and also customize it according to your needs. Riders can be added to any insurance policy; they are flexible. Riders help to increase the insurance coverage of your policy without buying a new insurance policy; it is cheaper to add a rider than to buy a new insurance policy. Furthermore, riders come along with tax benefits. Riders come in various forms- furthering justifying that they are flexible. You can attach a rider to your basic policy when you originally purchase the policy.

Following are types of riders available:

1. Edelweiss Tokio Life Accidental Total and Permanent Disability Rider
All life insurance policies cover accidental death; but what about total and permanent disability? Most insurance policies do not cover that. On adding this rider to your policy, the insurance company will pay you money in the unfortunate situation of disability. This money will compensate your income and ensure that you do not suffer from any financial stress as you recuperate.

2. Edelweiss Tokio Life Waiver of Premium Rider
The waiver of premium rider allows you to enjoy all your policy benefits in case you are unable to the pay the premium in case of death or disability. In the case of the child insurance policies, it allows the waiver of the premium in case of death of a parent (who has been covered in the
rider).

3. Edelweiss Tokio Life Accidental Death Benefit Rider
All life insurance policies cover accidental death; so why should you spend extra money on adding the accidental death rider to your life insurance policy? It’s simple; on adding the accidental death rider to your insurance policy, your beneficiaries will receive double the sum assured in case of your death due to an accident.

4. Edelweiss Tokio Hospital Cash Benefit Rider
On adding the hospital cash benefit rider to your policy, you get additional money in case you are diagnosed with any of the illnesses that are covered in the policy. This additional money can be used to cover the medical bills along with the household expenses. The illnesses covered under this rider vary from insurer to insurer and are specified before you purchase the rider.

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