Work out rider premium instantly with clear inputs, formula shown and shareable results.
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.
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
Indicative pricing illustration. Rider availability, rates, caps and definitions are product- and jurisdiction-specific. Not insurance advice.
Usually yes, because they share the base policy's underwriting and administration. Standalone products often offer broader definitions though.
Commonly the rider sum assured cannot exceed the base sum assured, and total rider premium is capped as a percentage of base premium.