Life Insurance Basics
What is a life insurance guaranteed insurability rider?
A guaranteed insurability rider (GIR) allows you to purchase additional life insurance coverage at specified future dates without medical underwriting. This is valuable for young policyholders whose coverage needs may increase as their income and family size grow.
Key Points
- GIR: purchase additional coverage at specified future dates without underwriting
- Valuable for young policyholders with growing coverage needs
- Specified dates: typically every 3 years or at major life events
- Coverage increase: up to a specified maximum
- An independent agent can help you evaluate guaranteed insurability riders