Term Insurance Riders
A rider in a Term Insurance is an extra coverage that an insured can avail along with the base coverage offered by a particular policy to enhance protection. An insurance policy holder can avail riders on a term insurance by paying an added amount of premium.
As we know, Term insurance is a type of life insurance that presents the nominee of the insured with a death benefit in case the insured dies during the term of the policy. The availability of Term Insurance Riders depends on different insurance companies. Different insurers offer different add-ons or riders along with their Term Insurance plans to suit the requirement of their clients.
Riders are not compulsory; however, they are recommended to be included in a policy because they offer extra coverage to protect you and your dependents against the uncertainties of life. With the help of riders, a term insurance policy owner can enjoy multiple benefits out of a single term plan.
Further, most people think that riders are costly as it is a common notion that riders will add an exorbitant amount to your premium payment. However, the fact is, term insurance riders can make your policy cost-effective if chosen efficiently. Let's learn more about the term rider meaning in insurance below.
Types of Term Insurance Riders
Generally, term plans are available with riders. These term insurance riders are priced differently and have different terms and conditions. Below is a list of different term insurance riders:
Benefits of Term Insurance Riders
Riders offer numerous benefits along with offering greater coverage to the basic term plan as stated below:
Improved Sum Assured
with term insurance riders, you can improve the total coverage amount that your nominee might receive as compensation. For example, if you buy a term plan with base coverage amount as 50 lakh and buy a rider of 25 lakh, then the total coverage received gets enhanced.
Family gets more protection
riders allow family members of the insured to receive greater monetary protection if the insured dies suddenly. This way, they can take care of their needs better. Also some riders not just protect the family, but they also protect the insured in case of his/her complete or partial disability or in case of critical illnesses.
Easily affordable
the term insurance riders are viable options as they offer enough benefits at reasonable premium prices. Thus, it is better to buy riders as compared to buying different policies for different things like accidents, critical illness etc. This way the insured can pay less and at the same time they don't have to manage multiple policies at one time.
Why To Buy Term Insurance Riders?
Getting term insurance to secure your family financially is important so that their needs can be fulfilled even when you are not there. Term insurance with riders allows you to ensure further support to ensure that the family lives in comfort. So, buying riders with your term insurance is a viable option as you don't know about the uncertainties of life.
Here are some key reasons to buy term insurance riders:

Can avoid multiple policies
by buying rider in term insurance, you can avoid the use of multiple policies for different purposes like accidents, critical illness etc. As such, despite how high the sum assured of your term plan is, they do not offer any added coverage besides death benefit. Thus buying riders allows you to have extra coverage on accidents, disability and illnesses. So, rather than buying different plans for different needs, you can buy riders to fulfill all your needs.

Saves money
since with riders you can avoid buying multiple plans, thus you get to save money on different plans. However, you can get the required benefit at a lower cost with the help of riders.

Extra support
term plans offer financial support to the loved ones after the insured leaves the world forever. So, the insured would like to ensure that the family members get whatever they need to survive better after he/she is gone. With riders, you can get extra support to the family when they need it the most.

Tax deduction
this is again a benefit received from buying term insurance policy as you get tax exemption on the premium of term insurance as per section 80C of Income Tax. Riders are also taken into consideration for such tax benefits.
Wrapping Up
To wrap it up, now you know what is a term rider? However, there are a few things to remember about term insurance riders before you choose one such rider to add to your policy. You must note that riders are optional and have conditions that need to be evaluated. They are useful tools to ensure further protection to insured and nominees. You pay a less premium for riders as compared to premium for base policy. Thus, it is suggested to get detailed knowledge about what is rider in term insurance along with the benefits, the inclusions/exclusions etc. of term riders before buying them.