Customize your life insurance policy that meets you and your family's specific needs.
Life insurance riders are additional features that let you tailor your coverage to fit your lifestyle, such as credit insurance and disability income. The rider also could be used to add coverage for yourself or for a household member who is not included in the main policy.
Riders are additions to the policy that let you select extra coverage so you can tailor your life insurance to meet your needs.
There are many riders available to enhance your coverage and protect your family. Some of the more popular riders are:
Living benefit riders:
Chronic Illness Rider: Let's you access your coverage when you have been diagnosed with a chronic illness such as a heart attack, cancer, stroke, kidney failure, ALS, and other critical conditions that could limit your life expectancy and leave you with unaffordable medical bills.
Critical Illness Rider: Let's you access your coverage when you no longer are able to perform at least two of the six Activities for Daily Living (ADL) — eating, bathing, getting dressed, toileting, transferring, and continence.
Terminal Illness Rider: Let's you access your coverage when you have been diagnosed with a terminal illness with a life expectancy of 12 months.
Accidental Death Benefit Rider: Pays an additional coverage amount if your death is the result of an accidental bodily injury.
Accidental death and dismemberment insurance: This rider is for those who lead riskier lives, such as those who engage in dangerous hobbies or work. These riders will raise your rate. In the event that you lose a limb or digit in an accident, the AD&D rider reimburses you from the death benefit. It pays out to your beneficiaries if you pass away.
Income Supplement Riders:
Disability Waiver of Premium Rider: If you become disabled and are unable to work, a waiver of premium insurance rider waives the premium payments on your life insurance policy. The condition can vary from each insurance carrier based on their definition of a disability.
Income Protection Option: Enables you to tailor the death benefit to your family's immediate and long-term requirements. Depending on the insurance provider, choose an initial lump sum or a guaranteed monthly income stream for up to a particular number of years.
Guaranteed Insurability Benefit Rider: Allows you to raise the amount of life insurance you have without undergoing extra underwriting at specific intervals.
Term Insurance Rider: Provides you with additional level term insurance coverage at term insurance rates.
Children's Benefit Rider: Provides term coverage for a child.
Spousal insurance rider: A spousal income rider on your insurance policy guarantees that you will receive a death benefit in the event that your husband passes away. Even if your spouse doesn't have a job or isn't the main provider of the household income, it's still worthwhile to get because you'll still have to pay for the costs of the work they do around the house, including child care.
Canceling the policy
Return of Premium Rider: If you outlive the term of your insurance coverage, the return-of-premium insurance rider reimburses your premium payments.
Are life insurance riders worth it?
Every rider is build differently and therefore can be advantageous to your unique circumstances. It is best to consult one of our insurance advisor to see what riders are recommended on your life insurance policy.
Can you add a rider to an existing life insurance policy?
No you cannot. Once your policy is set forth you cannot built in riders.
Can riders be disadvantageous?
If you purchase riders separately that are not included in your life insurance policy for free, they may be expensive, difficult to qualify for, and/or provide insufficient coverage.