Does Including riders in your term Insurance plan really useful?

[Sagar Bomble]

Hi All,

Let's discuss on this topic as there are a lot of hidden terms & conditions to these riders which company or your agent does not tell you

 

[arjungoyal12]

I don't think it is a good idea as it burden you up with extra cost. Anyone with opposite perspective with genuine reason

 

[Sagar Bomble]

I don't think it is a good idea as it burden you up with extra cost. Anyone with opposite perspective with genuine reason

Agreed Arjun it does add extra cost your actual term plan

 

[Pahulpreet Kaur]

It depends on which extra options you're thinking of adding to your insurance. When I was getting term insurance, I looked at some extra choices called "riders." Here's what I thought about them:

1. Accidental Death Rider: They said if something happens to me by accident, they would give extra money on top of the main insurance amount. But I didn't see much point in this because my main insurance was already a big enough amount for my family. So, I didn't think it was worth paying more for this extra bit.
2. Hospitalization Rider: Another choice was about getting more money if I have to go to the hospital. But I already had health insurance that covered that, so I didn't think I needed this extra option. It can be good for those who dont have a health Insurance. (But I would recommend not to mix life and health insurance....have a separate health insurance)
3. Accidental Disability / Critical Illness Rider: This one seemed important. If I can't work anymore because of an accident or serious illness, this rider would give money to help me and my family. In those tough times, we might need a lot of money for treatment or just to support ourselves. So, I decided this rider was worth getting because it serves a real purpose.

So, adding these extra options to insurance depends on whether they fit with what you already have and if they would truly help you and your family if something unexpected happened.

 

[hrishikesh.prabhu]

I feel Waiver of premium on Critical Illness is a good add-on in Term insurance compared to other insurance

 

[mr_ancoder]

Choosing these two riders will be good for you:
1. Premium waiver
2. Critical illness and disability

 

[srikant]

Hi All,

Let's discuss on this topic as there are a lot of hidden terms & conditions to these riders which company or your agent does not tell you

Hi ,
Let's discuss the issue , you wanted your family won't face any issue after something happens to you. So I think choosing critical illness and disability rider makes sense here as you can't work after that (virtually dead) and you need the money to carry on your normal lifestyle otherwise what's the point of insurance. So only this rider makes sense.
Rest riders you can ignore as you have hospitalization insurance and your savings(I hope so)