A cost of living adjustment (COLA) rider is an optional feature on a life insurance policy that automatically increases the death benefit over time to help keep pace with inflation. This rider is designed to maintain the real value of the policy’s payout, protecting beneficiaries from the eroding effects of rising costs. Understanding how a … Read more
A paid-up additions (PUA) rider is an optional feature available on many whole life insurance policies that allows policyholders to purchase additional, fully paid-up life insurance coverage. PUAs increase the policy’s death benefit and cash value over time, often accelerating the policy’s growth and enhancing its long-term value. Understanding how a PUA rider works helps … Read more
A return of premium rider is an optional feature added to a term life insurance policy that refunds some or all premiums paid if the policyholder outlives the term. This rider combines life insurance protection with a savings-like component, appealing to those who want coverage without the feeling of “losing” premiums if no claim is … Read more
A terminal illness rider allows a life insurance policyholder to access a portion of the policy’s death benefit if diagnosed with a terminal illness. This rider is designed to provide financial support during the final stages of life, when medical costs, caregiving needs, and personal expenses may increase significantly. Understanding how a terminal illness rider … Read more
A critical illness rider provides a lump-sum payment if the insured is diagnosed with a covered serious illness. This rider is designed to help policyholders manage the financial impact of major medical conditions that can disrupt income and create significant out-of-pocket expenses. Understanding how a critical illness rider works helps determine whether this added protection … Read more
Long-term care (LTC) coverage can be obtained either as a rider attached to a life insurance policy or as a standalone long-term care insurance policy. Both options are designed to help cover the cost of extended care services, but they differ significantly in structure, cost, benefits, and flexibility. Understanding these differences helps consumers choose the … Read more
A disability income rider provides periodic income payments to the policyholder if they become disabled and are unable to work. This rider is designed to supplement income during disability while the life insurance policy remains in force. Understanding how a disability income rider works helps policyholders evaluate whether combining income protection with life insurance is … Read more
A guaranteed insurability rider allows a life insurance policyholder to purchase additional coverage in the future without providing new evidence of insurability. This rider protects the policyholder’s ability to increase coverage even if health changes over time. Understanding how this rider works helps applicants decide whether future flexibility is worth the added cost. This rider … Read more
A spousal rider is an optional add-on to a life insurance policy that provides life insurance coverage for a spouse under the primary policyholder’s contract. This rider offers a convenient way to insure both spouses without purchasing two separate policies. Understanding how a spousal rider works helps couples decide whether this simplified approach fits their … Read more
A child rider is an optional add-on to a life insurance policy that provides coverage for the policyholder’s eligible children. This rider offers a small life insurance benefit if a covered child dies during the rider’s term. Understanding how a child rider works helps families decide whether this type of coverage fits their financial planning … Read more