Rider insurance policies are additional or supplemental protection. A rider is an amendment or addition to a basic insurance policy, which provides extra coverage not included in the original plan. Riders are most often associated with life insurance, but they can also be purchased for health and disability policies as well. 

There are seven different types of riders available for people to select and buy all protection rider insurance policy Malaysia population often have: Accidental Death Benefit (ADB), Disability Income Benefit (DIB), Guaranteed Insurability Option (GIO), Child Rider, Waiver of Premium (WOP), Critical Illness Rider and Return of Premium Rider.

Accidental death benefit 

Accidental death benefit (ADB) riders provide an additional death benefit if the insured dies due to an accident. The ADB rider is generally offered as an option and will pay out a death benefit in addition to the regular life insurance benefit. 

Disability income benefit 

Disability income benefit (DIB) is a buy all protection rider insurance policy that pays out benefits for disability caused by injuries or illness. In cases of long-term disability, DIB can help cover lost wages or medical costs, up to the limits specified in the protection policy. 

Guaranteed insurability option 

The guaranteed insurability option (GIO) Rider allows insureds to purchase additional coverage when they reach predetermined ages or meet other specified criteria without having to prove insurability. This buy all protection rider insurance policy can help insureds adjust their coverage as their needs change over time. 

Child rider

The child rider is a rider insurance policy that provides life insurance coverage to the dependent children of an insured. It pays out a death benefit if the child dies, up to the limits specified in the policy. 

Waiver of premium

Waiver of premium (WOP) riders provide insureds with relief from making payments if they become disabled due to illness or injury during the protection policy period. The WOP buy all protection rider insurance plan will cover payments while the person is disabled and/or meet other criteria set by the insurers. 

Critical illness

Critical illness riders are insurance policies that pay out benefits if people are diagnosed with a specific critical illness, such as cancer or heart attack. The benefit is paid out regardless of whether the buy all protection insured survives. 

Return of premium 

Finally, return of premium (ROP) riders provide people with a full or partial refund of premiums paid during the policy period if at the end of it. This buy all protection rider insurance plan can help the insured gain back some money from their buy insurance if they don’t make any claims against it. 

A good rider insurance policy will provide you with additional coverage and peace of mind in case of an unexpected accident, disability, or illness. It is important to choose the correct rider insurance plan that best suits your needs and budget. Be sure to read the policy carefully before signing anything so you understand exactly what is being offered and what it covers.