Insurance
Rider
Also known as: Add-on cover
An optional add-on that boosts a base insurance policy for a small extra premium.
A rider is an extra feature you bolt onto a base policy, like critical illness or accidental death cover.
They are cheaper than buying separate policies and let you customise cover to your needs.
Useful riders include critical illness and waiver of premium, but don't over-buy add-ons you won't use.
For example
Adding a critical illness rider to a term plan pays out a lump sum on diagnosis of cancer or a heart attack, on top of the base cover.