What are Life Insurance Riders & How Can They Be of Benefit to Me?
If during your life insurance shopping you’ve come across the ‘term life insurance riders’ but still aren’t entirely sure as to what they are or how they can be used, listen up because purchasing a rider might be the perfect way to get precisely the policy you want and need.
Life insurance riders are essentially add-ons for your life insurance policy. You can purchase a rider that will then be added to your insurance policy and will act as an additional source of benefits. The good news is that although life insurance riders cost extra, they often aren’t expensive to buy because it requires little extra underwriting to add a rider to an existing policy.
There are several different types of life insurance riders available, including a spouse insurance rider, an accidental death rider or the family income benefit rider. Depending on your situation and your needs, any one of these riders or the others available may be a good insurance solution. The spouse insurance rider, for instance, provides term insurance for your husband or wife, while a family income benefit rider will provide the policy holder’s family with a regular income of money should they die. The accidental death rider, on the other hand, means that should the insured die as a result of an accident (covered under the rider), the beneficiary will receive an additional death benefit.
The best thing to do is to ask a licensed insurance agent about the life insurance riders that are available to you. As mentioned previously, learning about your options before you purchase a policy could allow you to save money as it will be relatively easy for the underwriters to add on these additional benefits.
Do your research and customize your life insurance policy so that it fully meets your insurance needs. TermLife-Insurance.com can show you what riders you can add on a life insurance policy and what the additional cost would be. Let us do the life insurance shopping for you…