Hello Abhishek,

Thank you for using the Forum.

1. You cannot change your cover duration of a term life insurance policy after it is issued. If you are young and healthy, you can look for a fresh policy after evaluating the amount of premium you will save (since the premiums would have gone up with age, since you bought the policy)
2. Please give more details about the accident insurance rider that you have mentioned for us to give you better recommendations.
3. In our view, specialized standalone covers are always better than riders, that are lite versions of the insurance cover you actually need. Personal Accident/Disability cover is super important we wrote in a 2-article series on this. Here are the links: The Underrated Risk of Disability & Personal Accident Insurance & Comparison of the Top Personal Accident Insurance Plans in India

Hope this helps.

Regards,

Mahavir Chopra

Founder @ Beshak

Yes, you can change your payment frequency mode to any of the payment options at the time of renewal.