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Bajaj Allianz Life Insurance Rider Plans

Bajaj Allianz Life offers a wide range of rider options to best suit your needs and life goals.

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Written ByShruti Gujarathi
AboutShruti Gujarathi
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Shruti Gujarathi has 5 years of experience in the BFSI sector, and as Manager – Digital Marketing at Bajaj Allianz Life Insurance, manages digital and content marketing. She has had hands-on experience in content strategy, performance marketing and Strategic Alliances over a career spanning 10 years, with deep expertise in insurance domain.
Reviewed ByRituraj Singh
AboutRituraj Singh
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Rituraj Singh,With over 6.5 years of experience in the insurance industry, Rituraj Singh, Manager- Product & Brand Marketing at Bajaj Allianz Life Insurance overlooks new product launches, compliance, and brand projects, leveraging artificial intelligence and technology to enhance outcomes.
Written on: 26th August 2025
Modified on: 28th August 2025
Reading Time: 15 Mins
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Bajaj Allianz Life Insurance Rider Plans

When it comes to achieving life goals you always want to go that extra mile to ensure that nothing keeps you away from your life goals. Insurance Riders help you do exactly that. Riders are an add-on to the life insurance policy, which provide additional benefits at nominal extra cost or charge. As a policyholder, you can add riders to your life insurance plan which comes with rider benefits, including term plan, endowment or Unit Linked Insurance Plan (ULIP). In addition to life cover through riders contingencies like critical illness or disability etc can be covered. In essence, riders help in maximizing the benefits of life insurance cover.

Riders also help you in enhancing the benefits under life insurance policy as per your particular needs. You can add a rider to your life insurance policy at the time of purchase of the policy or later depending on the rider terms and conditions.

What are Riders in Life Insurance?

When you purchase a life insurance plan, you can enhance your insurance coverage through add-ons called riders. Riders are extra benefits you can add to a basic term plan by paying a little more in the premium. Riders may include critical illness rider, accidental death benefit, waiver of premium, etc, which can provide extra coverage after the death of the life assured. A rider could add a layer of reassurance, flexibility, and peace of mind — all within a single insurance policy.

Types of Riders

Below are the common types of life insurance riders you can add to enhance your coverage:
01

Accidental Death Benefit Rider:

In case the life assured dies due to an accident, this rider offers an additional lump sum payout over and above the basic sum assured. It's helpful for families dealing with sudden loss.

02

Accidental Disability Rider:

In this rider, you can get access to financial support when the person with the policy becomes permanently or partially disabled due to an accident. The rider makes sure that the income continues even when earning is hampered.

03

Critical Illness Rider:

Choosing this rider means you get a lump sum payout when diagnosed with a critical illness like cancer or kidney failure that is listed. It can offer financial support for treatments.

04

Income Benefit Rider:

Life can be uncertain and having such a rider can mean that in case of a sudden demise of the life assured, the family can still get a fixed income to manage regular expenses.

05

Waiver of Premium Rider:

This type of rider refers to a case when the life assured has been lost to life or becomes permanently disabled due to some accident, all future premiums are waived off, but the policy continues to offer full benefits, subject to the terms & conditions of the policy.

Benefits of Riders

Adding riders to your life insurance policy offers several practical benefits:

Extra Protection:

Having a rider added to your policy can offer you extra coverage and additional financial protection. For example, getting a critical illness rider can give you an additional payout, which can be used for treatment costs or loan repayments.

Affordable Option:

These are very cost-effective as you don’t have to buy any additional policies for separate benefits. Insurers allow you to get the rider by paying a pocket-friendly amount and get cover protection.

Tax Benefits:

It is also important to know that the premiums that are paid towards riders are eligible under tax deductions, helping you save more during tax filing.

How are Riders Linked With The Plans You Buy?

The riders are linked directly to your main plan and work only as long as the base policy is active. So, your coverage becomes stronger and more useful, without complicating your insurance with multiple policies. This way, you get all-around protection in one single plan.

How to Choose the Right Life Insurance Riders?

  • Assess your lifestyle and risks. Suppose your job or travel includes more risk, an accidental death or disability rider can be useful.
  • Review your health history. In case there is a family history of serious illness, then you must consider a critical illness rider.
  • Match riders with your policy type. Not all riders go with every plan, so check which ones are allowed with your life insurance policy.
  • Balance the cost and benefit. Riders cost extra, so choose only those that add real value to your coverage.

How can we buy riders?

Riders can be added when you buy your main life insurance policy. Most insurers provide a list of rider options based on your chosen plan. While filling out the proposal form, you can pick the riders that suit your needs. Each rider adds a small extra amount to your premium.

Frequently Asked Questions

1. Do I need to have riders with my life insurance plan?

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Riders are optional, but they offer extra protection. If you want broader coverage for accidents, illness, or premium waivers, adding riders can be helpful.

2. Which rider is suitable for a term insurance plan?

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Common riders included in a term plan are critical illness, waiver of premium, etc. They offer extended coverage and financial support during emergencies, enhancing your basic term plan benefits.

3. Do riders come at an additional cost?

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Riders involve a small extra cost added to your base premium. However, they’re usually more affordable than buying a separate policy and offer valuable extended protection.

4. Is it better to opt for riders or a separate policy?

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Riders are cost-effective and easy to manage under one plan. But for large, separate coverage needs, individual policies may be better. Choose based on your needs and budget.

5. How do I file a claim for my critical illness rider?

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Inform your insurer immediately after diagnosis, submit the required medical documents and claim form. Once verified, the insurer will disburse the amount as per the policy term. 

6. Can I get tax benefits on my life insurance rider?

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Premiums paid for life insurance riders may qualify for tax benefits under Section 80C (as per the old tax regime), depending on the rider type, subject to current tax rules.

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