Riders are additional benefits that can be attached onto your basic life insurance policy. These riders give you the benefit of increasing your risk cover in case of certain events happening. For instance, if you have taken an Accident Death Benefit rider and you die due to an accident then your beneficiaries can get up to a maximum of twice the basic sum assured subject to Claims acceptance.
Similarly there are different riders addressing different contingencies like Critical Illness, Permanent Disability Benefit, etc. There are riders available that waive your future premiums in case of death or disability of the proposer.
These riders come at a nominal cost and can be availed of depending on the policy taken. These can be taken at the beginning of the policy term or during the policy term. Riders offered by Kotak Life Insurance are Accidental Death Benefit, Permanent Disability Benefit, Critical Illness Benefit, Term Benefit, Kotak Life Guardian Benefit, and Kotak Accidental Disability Guardian Benefit.