Life Insurance Riders at Life

Life Insurance Riders. Some riders are designed to pay your beneficiaries more money when you’re gone, and others offer benefits while you’re still alive — these are known as “living benefits riders.” Simply put, a rider provides additional coverage and added protection against risks.

An insurance rider is an attachment to an insurance policy that alters the policy’s coverage or terms. What are life insurance riders? Disadvantages of life insurance riders.

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Some riders are designed to pay your beneficiaries more money when you’re gone, and others offer benefits while you’re still alive — these are known as “living benefits riders.” Life insurance riders offer the advantage of extra financial protection that isn’t a part of your standalone life insurance coverage. Riders come at an additional cost but are extremely important because a general life cover only provides financial coverage in case of death of the insured. Riders are optional, extra terms that go into effect along with your basic policy, often at an additional cost.