Saturday, December 19, 2009

What is meant by a rider premium?

A rider premium is an extra amount paid by the proposer in order to enjoy some extra benefits in case of risk.  obviously the enjoyment is only for the nominee of the policy holder.

Example: Double accident benefit rider is a very popular rider that is almost given to all the proposers. The advantage of this rider is that it is very cheap in rate and covers a maximum risk.  when a proposer takes up this rider the nominee of the policy holder will get double the amount of the sum assured on the risk of the policy holder.

 
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Posted by Balaji at 10:12 PM
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1 comment:

  1. madanmohanFebruary 6, 2014 at 12:10 AM

    Hi,
    As i've read, payment of premium on yearly mode basis have a advantage of rebate.Could you explain this..?

    ReplyDelete

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