Life Insurance Rider / Option.
Learn about all available life insurance riders.
From ADB(Accelerated Death Benefit) to Waiver of Premium, here are list of most commonly known riders.
Rider(s)
Add-on agreement/provision for
existing/new life insurance contracts. Addition to life insurance
death benefit, rider(s) provide extra/additional protection. These riders
usually costs the policyholder an additional amount.
Accelerated Death Benefit
Allows the insured to collect either
a portion or all of their life insurance policy while they are alive
Accidental Death Benefit
Secures an additional money to be
paid to the beneficiaries if the policy holder dies as a result of an
accident
Automatic Premium Loan Provision
Automatic policy loan will be made from the policy's cash valueto pay the
premium at the end of the grade period if the premium due has not been paid
yet.
Cost of Living Rider
Enables you to upgrade
or increase additional insuracne each year to help offset increasing
insurance due to inflation
Child Term Rider
Provides a death benefit in case a child dies before a specified age.
Family Income Benefit Rider
Provides a continuous monthly
payment to your partner or family in the even of your death
Guaranteed no-lapse rider
Relieves the policy owner of
responsibility to monitor his cash value by inposing a premium payment
schedule on a universal life insurance policy
Level Term Rider
Provides a consistent amount of term insurance that is
added to a permanent life policy for a specified period of time
Long-Term Care Rider
In the event that the insured's bad
health compels him or her to stay at a nursing home or receive home care,
this rider offers monthly payments.
No-lapse guaranteed death benefit rider
Frees the policy owner from responsibility
over his cash value growth
Overloan Protection Rider
Provides that the policy will not terminate because of a policcy
loan even if the accumulation value is insufficient to cover policy charges.
Payor Benefit Rider
If a premium payor dies or becomes
disabledprior to the minor's reaching majority, the sebsequent premiums due
are automatically waived.
Renewal Provision/Guranteed Insurability Rider
This rider guarantees your life insurance
policy's renewability at the end of its term
Return of Premium Rider
Under this rider, as long as you pay a marginally
premium and at the end of the term, your premiums are guaranteed to returned
back in full
Spousal Rider
Converts a
single-life insurance policy into a multiple-life insurance policy,
providign coverage for both you and your spouse
Term Conversion Rider
Lets you convert term life insurance into
permanent life insurance without undergoing a medical exam
Transplant Riders
Supplement medical expense plans with higher
limits and special benefits for an insured needing an organ transplant
Unemployment Rider
Waive the requirement ro make premium
paymens for duration of usually not more than one year in the event of the
insured's unemployment
Waiver of Premium Rider (Disability)
Waives the responsibility to pay the premium if and when the policyholder
becomes disabled, during the length of the time the policyholder is
disabled
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