Life Insurance Basics
What is a life insurance rider?
A life insurance rider is an optional add-on to a life insurance policy that provides additional benefits or coverage. Common riders include: accelerated death benefit (terminal illness), waiver of premium (disability), child rider (coverage for children), accidental death benefit, and long-term care rider.
Key Points
- Rider: optional add-on to a life insurance policy
- Accelerated death benefit rider: access death benefit if terminally ill
- Waiver of premium rider: premiums waived if disabled
- Child rider: coverage for children
- Accidental death benefit rider: additional benefit if death is accidental