New Delhi, March 18 -- With health insurance premiums seeing a sharp increase due to the rising cost of medical inflation, you should consider purchasing riders, which are offered as an 'add-on option' in your policy. Health insurance riders can provide you with decent coverage at lower costs.

A health insurance rider, which is the extra benefit or coverage that you get by paying an additional amount for your policy, provides your family with enhanced coverage. Leading health insurers now even offer 'Day 1 PED (Pre-existing Diseases) Rider' that offer you coverage for any pre-existing ailments right from the start of the policy. Here is a primer on health insurance riders, its types, advantages and disadvantages.

There are several rider...