What can be a valid reason to add waiver of premium rider to life insurance policy?
1 year, 11 months ago

What can be a valid reason to add waiver of premium rider to life insurance policy?

Live Mint  

I am the only earning member in my family. Should I add a waiver of the premium rider when buying a life insurance policy? - Name withheld on request Yes, you should definitely consider adding a waiver of premium rider to your life insurance plan. - Name withheld on request You could look at purchasing a term plan with an increasing cover option which ensures an increase in life cover at regular intervals commensurate with one’s income rise and inflation increase. The premiums would be slightly higher than a basic term plan but 10-15 years later, when the need for additional cover arises, the cost of buying another term plan would be much more than the initial higher premium amount.

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