GENERAL KNOWLEDGE

Detailed explanation-1: -Accelerated death benefit rider: This is an added feature that comes as an extra rider and allows a policyholder or his nominee to have additional benefits. Apart from the base plan benefits, it allows extra coverage to in the event of the policyholder’s death due to any specific and pre-defined condition.

Detailed explanation-2: -Understanding a Rider The benefits of insurance riders include increased savings from not purchasing a separate policy and the option to buy different coverage at a later date. Say an insured person has a terminal illness and adds an accelerated death benefit rider on a life insurance policy.

Detailed explanation-3: -What are Riders? Term insurance riders are amendments or attachments made to a term insurance plan, giving the policyholder additional coverage, thereby enhancing the policy’s utility. Riders provide several additional benefit apart from the death benefit offered by the term insurance policy.