Term insurance has earned the recognition of being an affordable alternative to earn an income in the event of death. It is cheap to buy but can be broadened by adding life insurance riders. They do not cost much and add multiple benefits to the insurance option.
There are various options for term insurance riders, and you may choose which ones you want to add to your term policy. Each rider for term insurance holds a benefit and can be selected based on budget and circumstances.
If you are confused about buying a rider with your term insurance, here are some great options you can choose from:
Accelerated Death Benefit Rider
An insured person diagnosed with a terminal illness can get the insurance company to pay some portion of the death benefit under this rider. This benefit will help you meet the expenses of treatment, which can be expensive, especially for chronic illnesses. This rider is quite popular and sometimes comes at no additional cost to the policyholder.
Accidental Death Benefit
Under this rider, your insurer will be required to pay a higher amount of death benefit as the insured has died from an accident. Typically, an additional premium will have to be paid to obtain this rider. It is useful for people who cannot afford a full death benefit.
Child Term Rider
You may not be in a state to pay for your child’s uncertain funeral when you are grieving over their loss. A death benefit can be availed for dependent children, and any additional childbirths will be automatically clubbed with this rider.
Disability Waiver of Premium Rider
A disability can prevent you from working and stop your earnings. Subsequently, you may find yourself unable to pay premiums for your life insurance. Taking this rider will help you give up your liability to make payment of premiums when you are under such conditions.
The riders mentioned above can be helpful for you in difficult situations. If you are looking for the best term insurance riders to add to your policy, contact the experts at ISU- Wissink Insurance in Culver City, California. We are ready to assist you with all your insurance needs.