Let’s dive into what sum assured is and its relevance when buying a life insurance policy. A rider is a separate contract that can be attached to a life insurance policy that adds benefits to your basic insurance policy. What is most important while buying a life insurance plan is that it provides the right amount of sum assured. Your sum assured checklist must include:Selecting a sufficient amount of sum assured by paying a premium regularly to protect your family financially. If you have already invested in a life insurance policy, ask your insurer about ways to increase the sum assured at different life stages.

Source: Forbes March 08, 2021 15:22 UTC