Jun 26
Insurance riders making your head spin?
There are number special provisions or extras known as “riders” that, for a price, can be added to your policy. Riders are special additions to the policy provisions that offer benefits not found in the original contract, or that make adjustments to it. These special provisions are, in effect, attached to the policy. Riders are not necessarily found in all policies. Because all riders provide some kind of benefit to the policyowner, an extra premium may be charged for them.
A few examples are:
- waiver of premium
- accidental death and dismemberment
- child rider
- accelerated death benefit
- long term care
- return of premium
- disability income
- and more!!
To keep your head from spinning, talk with your financial planner or life insurance agent. He/she will be able to provide you with a better understanding of what might be good for you.
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