Term Rider
If the insured were to die, the sum assured under the term rider is payable to the nominee.Apnainsurance.com Research Bureau
21 Dec 2007
The
term rider acts in the same manner as a term life insurance policy - if the
insured were to die, the sum assured under the term rider is payable to the
nominee. In the event of death of the insured, this rider provides for a
payment equal to the sum assured or a pre-determined term rider sum defined in
the life insurance policy. The term rider is a pure insurance product and is
therefore a low-cost benefit. Insurance companies thus have a limit to the
maximum sum assured under this rider.
See also:
Accidental Death Benefit RiderAccidental Disability/Dismemberment Benefit Rider
Critical Illness Benefit Rider
Guaranteed Insurability Option Rider
Hospital Cash Benefit Rider
Life Guardian Benefit Rider
Waiver of Premium Rider
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