Life insurance is one of the most important purchases you’ll make to protect your family’s financial future. So naturally, there are some things you need to consider to be sure you’re adequately covered. Some of the things you should look for in a policy include riders. What are they? Riders are additions to a life insurance policy that provide extra coverage for specific circumstances.

Riders usually cost an additional amount, depending on what type and how much they cover. And although you can do without some riders, there are some that you should definitely consider adding on to your existing life insurance policy.

Following are common life insurance riders that may enhance your existing coverage:

1. Accidental Death & Dismemberment (AD&D) – In a previous post, we talked about the benefits of having an AD&D policy, especially if you’ve been labeled “uninsurable” by a life insurance company. But as a rider to a life insurance policy, it provides additional coverage if you were to die accidentally. It may double the amount of the original death benefit.
2. Waiver of Premium – If you become disabled, this rider allows you the flexibility to waive your premium payment during the entire time you’re disabled. With this rider, your life insurance policy will remain in force if you’ve experienced a loss of income due to a new disability.
3. Accelerated Death Benefit – If you’re diagnosed with a terminal illness while your life insurance policy is still in force, this rider gives you the option to collect all or part of the death benefit while you’re still alive. This may take away some of the financial burden of paying unprecedented medical expenses.
4. Guaranteed Insurability – For term life insurance, this rider guarantees your policy’s insurability at the end of its term. In some cases, you may not even be required to take an additional medical exam. This rider is worth considering if you think your term life coverage will expire before you die.
5. Family income benefit – When you die, this rider provides your beneficiary with a continuous monthly payment for a specific amount of time.

Fore more information about what riders you can add to you existing life insurance policy, talk to a life insurance agent at AccuQuote. By providing them with some general health and lifestyle information, you’ll receive a free life insurance quote and be able to discuss affordable rider options.