3 Important Life Insurance Riders That Can Improve Your Policy!

Attaching a rider will allow you to purchase more coverage. Also, this unlocks some features and extends the flexibility and efficiency of your life insurance. An insurance rider is an important tool that will help you redesign the policy, in order to suit your needs and goals.

images4Naturally, you must first own a policy, this is the essential prerequisite. You should start by comparing policies and prices with the help of life insurance quotes. Search for the main types of insurance: term life insurance quotes, whole life insurance quotes and no exam life insurance quotes.  These are the most 3 important life insurance riders that can improve your policy:

1)     Accidental death benefit rider.  It increases the death benefit paid if the insured dies as a result of a specific accident. Accidents covered by the policy are usually defined in the contract.  It normally excludes things like:  death caused by illegal activities or substances, death caused by acts of war. Moreover, if you die due to some dangerous hobbies, this rider does not provide additional benefit. This rider becomes available after a period of time since the policy has been bought.

2)     Accelerated death benefit rider. ADB rider enables the insured to receive cash advances against death benefit in case of being diagnosed with a terminal condition.  Usually, those that select this rider have less than one year to live and they withdraw the money to pay for treatments and try to prolong their lives.  Sometimes this rider is not mentioned in the contract, so, it is better to ask the insurance representatives when negotiating the terms of life insurance.

3)     Waiver of premiums rider. This clause waives the obligation to pay the premiums if the policyholder becomes invalid or seriously ill. This rider allows people to benefit of life insurance, even if they cannot work.

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