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Rider Premium Calculator

Work out rider premium instantly with clear inputs, formula shown and shareable results.

About Rider Premium Calculator

Riders — accidental death, critical illness, waiver of premium, disability — are priced per thousand of rider sum assured and added to the base premium. Most regulators cap total rider premium as a proportion of the base premium, which limits how much cover can be bolted on.

Formulas

Premium per rider

Rider premium = Rider sum assured x Rate per 1,000 / 1,000

Total

Total premium = Base policy premium + Rider premium x Number of riders

Worked example

With the default values below, Rider Premium Calculator returns Total annual premium with riders of $22,400.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Rider sum assured
2,000,000
Rider rate per 1,000 sum assured
1.1
Number of riders attached
2
Base policy annual premium
18,000

Results

Total annual premium with riders
$22,400.00
Total rider premium
$4,400.00
Premium per rider
$2,200.00
Riders as % of total premium
19.64%

Step by step

  1. 1Values used
  2. 2Premium per rider
  3. 3Total
  4. 4Total annual premium with riders= 22,400.00
  5. 5Total rider premium= 4,400.00
  6. 6Premium per rider= 2,200.00
  7. 7Riders as % of total premium= 19.64

Assumptions and limits

  • The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or fees or charges into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Indicative pricing illustration. Rider availability, rates, caps and definitions are product- and jurisdiction-specific. Not insurance advice.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Indicative pricing illustration. Rider availability, rates, caps and definitions are product- and jurisdiction-specific. Not insurance advice.

Frequently Asked Questions

Are riders cheaper than standalone policies?

Usually yes, because they share the base policy's underwriting and administration. Standalone products often offer broader definitions though.

Is there a limit on rider cover?

Commonly the rider sum assured cannot exceed the base sum assured, and total rider premium is capped as a percentage of base premium.

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