HDFC Life Riders

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

A rider is basically an add-on service for your primary policy that you can opt for when purchasing an insurance cover. The rider offers additional services and benefits that you can add to your existing insurance package. A rider helps an individual to modify and make their insurance policy to meet their specific needs and requirements. There’s generally less room for customization of a standard policy. Therefore, purchasing a rider is the best way you can enhance the benefits offered by the insurance plan.

Benefits of HDFC Life Riders

There are a number of different benefits offered by HDFC Life which a policyholder can avail such as:

• As a policyholder, you can gain extra coverage with your insurance plan by selecting a rider. For example, with a critical illness rider, you are entitled to a large payout which can later be used to clear EMIs, medical expenses, and other financial needs.
• Selecting a rider can prove to be quite flexible as these riders can be used on any insurance plan of your choice such as endowment plans, ULIP, etc.
• You can avail tax benefits with the riders that you purchase according to prevailing tax laws.
• Purchasing a rider is now very affordable when compared to buying a life insurance policy. There are a number of riders that are available which a policyholder can choose depending on their requirements and needs. This makes it easier for an individual to afford a life insurance policy that covers their needs and at an affordable cost.

List of Riders that are provided by HDFC Life:

The riders provided by HDFC Life are listed below:

1. HDFC Life Critical Illness Plus Rider

You can never really predict when you’re going to fall ill or when you might contract a major illness from travelling. You have to consider the possibility of being in such a situation and be prepared for it. Your savings could take a major blow if you do not have an insurance policy with necessary riders to help you in such situations. You income can take a major hit if you do not show up at work during your recovery phase or if you are asked to resign from your job. To ensure that you do not have to bear the financial burden by you or a family member, a Critical Illness Plus Rider ensures that you and your family is taken care of. There are 19 critical illnesses that are covered under this rider which can be used to help with any financial requirements related to treatment, settlement of bills, etc.

Benefits of HDFC Life Critical Illness Plus Rider

• As a policyholder, you are entitled to a large payout if you are diagnosed with any of the 19 critical illnesses that has been listed under this policy.
• Apart from the customary benefits that come with your insurance policy, this rider provides additional benefits which can be availed at an affordable cost.
• You are entitled to choose this rider at the time of inception or subsequent policy anniversaries of the original policy selected.

Rider	Entry Age (Yrs)	Maturity Age (Yrs)	Policy term (Minimum in years)	Policy term (Maximum in years)	Premium
Critical Illness Plus Rider	Minimum: 18 Maximum: 65	Up to 75	5	40	Minimum sum assured is Rs.25,000. Maximum sum assured has no limit and is subject to a satisfactory underwriting.

2. HDFC Life Income Benefit on Accidental Disability Rider

It is a dangerous world we live in where our lives are perpetually in danger. You could be walking on the road or driving a vehicle and it only takes one mistake to ruin another person’s life. Accidental disability can prove to be quite a hassle as daily life becomes quite difficult to cope with as there are times when even walking can becomes quite the task. A disability can impair your ability to your job to the best of your capabilities and this can become a problem when you require a regular monthly pay cheque to survive. By purchasing an Accidental Disability Rider, a policyholder is entitled to a monthly benefit or income which can help sustain their family and avoid being a financial burden to them.

Benefits of HDFC Life Income Benefit Accidental Disability Rider

• A policyholder is entitled to a monthly income with this rider in case of a disability.
• An income amounting to 1% of the sum that is assured will be paid to the policyholder in case of a Total Permanent Disability for a period of 10 years.
• You can avail tax benefits as you can as per the Income Tax Act 1961.

Rider	Entry Age (Yrs)	Maturity Age (Yrs)	Policy term (Minimum in years)	Policy term (Maximum in years)	Premium
Income Benefit on Accidental Disability	Minimum: 18 Maximum: 55	Up to 65	10	40	Minimum sum assured is Rs.1 lakh. Maximum sum assured will not exceed the sum assured of the policy to which the rider is attached.

3. HDFC Life Accidental Death Benefit Rider

There are a number of instances where a family is subjected to tremendous financial and emotional stress because the breadwinner of the family met with an accident. Medical bills can come up to a huge amount and clearing these bills can become a problem if you do not have insurance or savings. An Accidental Death Benefit rider can prove to be quite useful in times like these. Not only does the policy ensure that your family is taken care of in case you meet with an accident, but it also provides a large payout in the event of your death. Though the death of the breadwinner will be hard to bear, your family will not subjected to any hassle for paying bills, etc.

Benefits of HDFC Life Accidental Death Benefit Rider

• Helps with reducing stress since you know that your family will get taken care of in the event you meet with an untimely demise.
• You do not have to touch your savings as the payout from the insurance plan will take care of any bills that need to be cleared or payments that need to be made.
• The family of the insured are eligible to receive twice the amount that was assured in case the policyholder dies in an accident.

Rider	Entry Age (Yrs)	Maturity Age (Yrs)	Policy term (Minimum in years)	Policy term (Maximum in years)	Premium
Accidental Death Benefit Rider	Minimum: 18 Maximum: 55	Up to 65	10	40	Minimum sum assured is Rs.1 lakh. Maximum sum assured has no limit and is subject to a satisfactory underwriting

4. HDFC Life Term Rider

With this rider, a policyholder’s family is paid a large amount of money in the event of his/her death. Your family’s future is secured especially if you’re the sole breadwinner of the family. Most of us work to take care of our family and their daily needs. To make sure that your family has a healthy and secure future, opt for a Term Rider which you can add to your base insurance policy.

Benefits of HDFC Life Term Rider

• The term of the policy is flexible.
• The payout that a nominee or family of a policyholder is entitled to is large.
• You can claim tax benefits under the Income Tax Act Section 80(C), 1961.

Rider	Entry Age (Yrs)	Maturity Age (Yrs)	Policy term (Minimum in years)	Policy term (Maximum in years)	Premium
Term Rider	Minimum: 18 Maximum: 65	Up to 75	10	40	Minimum sum assured is Rs.25 lakhs. Maximum sum assured has no limit and is subject to a satisfactory underwriting

5. HDFC Life Waiver of Premium Rider

This rider proves to be quite worthy and helpful if a policyholder has premiums which he/she has to pay but has passed away. This rider is commonly available when taking out a life insurance or a Unit Linked Insurance plan. In the case of a life insurance plan, any future premiums that the insured had to make before his/her sudden passing will be waived of. This means the family of the deceased/policyholder will not have to bear the burden of making payments. This rider also ensures that your policy does not lapse or get cancelled if you falter on your payments. The insurance company takes care of any future payments that have to be made.

Benefits of HDFC Life Waiver of Premium Rider

• The main benefit is that your family will not have to deal with the burden of making payments towards a plan that you have taken especially if you are the sole breadwinner of the family.
• Your family’s future is secured as their savings are kept intact without breaking them to make these payments.
• You can avail tax benefits for the premiums paid towards the policy and the rider under section 80 (C) of the Income Tax Act, 1961.

Why do we need HDFC Life Riders?

HDFC Rider plans can be quite helpful when taking out an insurance policy. Therefore, it is a way of availing more lucrative benefits that can meet your needs and requirements. These plans also help with availing tax benefits when filing your taxes. A rider helps in customising your insurance policy and it is highly recommended that you pick up a rider when purchasing an insurance policy to match it to your needs.