Boost Up Insurance Coverage Through Riders

Bangalore: Accidents never come with a notification. People might not be able to beat accidents and fall victimized into the hands of accidents.

Insurance policies have been the most preferred financial tool to beat any kind of sudden losses. Insurance policies might not be able to repay back the loss of a life, yet they repay a lot to the victims of accidents.

Customers always enjoy an extra amount of butter in their breads. Even in the insurance policies, there is a provision to add extra flexibility, to enjoy more benefit and lot more in the same insurance policy. This additional feature in any Insurance policy is known as "Riders". Here is the list of few of the important riders provided by the Insurance Companies as reported by "moneychutney.com".

1. Accidental death benefit rider

People, who spend most of their schedules in travelling, are more likely to meet with accidents. This rider can be more beneficial for this type of insurance holders.

By adding this rider to their existing policy, they can get insured for a larger amount of the same insurance. In most of the cases, the insurance amount gets doubled if the customer adds this rider to their existing policy.

2. Waiver of premium rider

Situations might arise where the buyer of the policy meets with an accident and becomes disabled for the rest of his life or in extreme cases may lose his/her life.

By adding this rider, both of these two uncertain circumstances can be defeated. In case the customer becomes disabled for the rest of the life, the Insurance company will waive off the premiums till the policy holder becomes fit enough to pay the premiums. On the other hand, in case of death, in addition to the waiving off the premiums, the company will take all the responsibility of the remaining premiums.

This will ensure a sure financial recovery for the family of the affected person.

Also Read: 6 Money Habits Which Can Put You Behind Bars Why You Need Top-Up Insurance