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What Is A Life Insurance Rider -Life Insurance Policy

Rider On A Life Insurance policy

Life Insurance Rider is a Policy Provision that is added to the policy or amend the terms of coverage.

Rider help life insurance policy holders customized their policy contracts to meet their specific needs. These benefits are very attractive in life insurance contract allowing the policy holder to use these benefits while they are alive and benefit the financial needs of their families.

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Types of Rider-Life Insurance Rider

Accelerated death benefit rider provide the policy owner with a living cash benefit in the event of terminal illness. The insured can use these funds to pay for living expense or cover medical cost.

Terminal Illness Rider

The insured can use these funds to pay for living expense or cover medical cost. The Insurance company will allow you to access part of your life insurance coverage amount.You may have to meet specific medical requirement in the contract to accelerate this benefit, usually terminal illness.

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Chronic Illness Rider

Chronic illness is medical conditions that cause the policy holder to lose two conditions of daily living (Long Term Care). Your Life Insurance will allow you to access a lump sum or a monthly payments usually predetermined at the time you start your life insurance policy. This money allow the policy holder to maintain their life style and cover medical cost or daily living cost. The beneficiary will receive a reduce face amount less the portion advance to the policy holder  under the accelerated death benefit rider upon the insured death.

Life Insurance

Life Insurance – helps you and your beneficiary maintain living standards. The death benefit paid to beneficiary can help to pay mortgage, college expenses, medical expenses and other cost.. If you accelerate a portion of your life policy this can cover medical cost, daily living expense while you recover. This benefit does not affect your income or any benefits that you may receive from disability policy.

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