A rider is a clause or condition that is added on to a basic policy providing an additional benefit, and the choice of the proposer.e.g. a provision that in the event of the death of the life assured by accident, the SA would be double, can be a rider on the endowment policy.This rider can be added to a policy under any plan. The option to participate in valuation surplus can also be a rider.The additional premium for the rider of Double Accident Benefits is a constant figure, not depending on age, but this is not applicable to all riders.

The riders may be availed of at the time of purchasing the plan, at a nominal cost. The maximum amount of benefit you can avail is equal to the basic sum assured. The aggregate premium on all value-adds should not, however, exceed 30% of the basic premium.

Term / Preferred Term Benefit

In the event of death of the life insured during the term of this benefit, the beneficiary would receive an additional death benefit amount, which is over and above the sum assured. The maximum amount of benefit that is available is equal to the basic sum assured. Where the Term Benefit cover applied for is more than Rs.10 lakhs, better rates may apply, subject to meeting eligibility requirements.

Accidental Death Benefit (ADB)

This benefit provides an additional amount (over and above the death benefit) to the beneficiary in the event of accidental death of the life insured. Accident is defined as that which causes death by violent, accidental, external and visible means and independent of any physical or mental illness.
The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs 10 lakhs)

Permanent Disability Benefit (PDB)

This benefit can be added to the basic life insurance plan to provide financial support in case of permanent disability due to an accident. Permanent Disability is defined as permanent and immediate inability to work or permanent loss of use of two limbs or total and permanent loss of sight.
The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs 10 lakhs)

Critical Illness Benefit (CIB)

This benefit can be added to the basic life insurance plan to provide financial support in the event of medical emergencies. On the first occurrence of critical illness during the term of the plan, you would receive a portion of the sum assured to help you reduce your financial burden in this emergency.
The maximum Critical Illness Benefit that you can avail of is equal to half of the basic sum assured(subject to a maximum of Rs 20 lakhs)

Exceptions

Kotak Flexi Plan, Kotak Capital Multiplier Plan, Kotak Retirement Income Plan (with cover) and the Kotak Retirement Plans (Unit-linked with cover), where the maximum Critical Illness Benefit that you can avail of is equal to the basic sum assured^ (subject to a maximum of Rs 20 lakhs)
After the Critical Illness Benefit is paid, the basic sum assured and all the benefits dependent on the basic sum assured will reduce in the same proportion that the Critical Illness Benefit bears to the basic sum assured at the time of claim.

The list of critical illnesses is

• Heart Attack (MI)
• Cancer
• Stroke
• Coronary artery by-pass graft surgery (CABG)
• Kidney failure
• Major organ transplants
• Paralysis
• Loss of limbs
• Aorta surgery
• Major burns
• Heart valve surgery
• Blindness

For Kotak Flexi Plan, SA2 or insurance sum assured.
Life Guardian Benefit (LGB)

In case of the unfortunate death of the proposer, this benefit keeps the policy alive by waiving all future premiums on the policy. This benefit can be availed of only when the life assured and proposer are two different people.
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Accidental Disability Guardian Benefit (ADGB)

In case the policyholder is permanently disabled as a result of accident, this benefit keeps the policy alive by waving all future premiums on the policy.