A rider is an insurance policy provision that adds benefits to or amends the terms of a basic insurance policy. Riders provide insured parties with options such as additional coverage.
The benefits of insurance riders include increased savings from not purchasing a separate policy and the option to buy different coverage at a later date.
Getting a rider in addition to your insurance plan can be helpful in case of critical illness, permanent disability, accidental disability or term benefit.
Here are some example of riders:
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Child Term Rider.
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Accidental Death or Double Indemnity Rider.
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Waiver of Premium Rider.
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Return of Premium Rider.
