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:
Child Term Rider.
Accidental Death or Double Indemnity Rider.
Waiver of Premium Rider.
Return of Premium Rider.