Life Insurance Riders
Customize your life insurance policy with optional add-ons called riders. Enhance your coverage for specific needs and situations.
What Are Life Insurance Riders?
Life insurance riders are optional add-ons that provide additional benefits or modify coverage terms. Riders allow you to customize your policy to better fit your specific needs and circumstances.
Most riders increase your premium, but they can provide valuable extra protection. Some riders are included at no cost, while others require additional payment.
Popular Life Insurance Riders
Accelerated Death Benefit Rider
Allows you to access a portion (typically 25-95%) of your death benefit while still alive if diagnosed with a terminal illness (life expectancy of 12-24 months).
Use case: Pay for end-of-life care, medical bills, or make final arrangements
Cost: Often included free or $5-10/month
Waiver of Premium Rider
Waives your premium payments if you become totally disabled and unable to work. Your coverage continues without paying premiums during disability.
Use case: Protect coverage if you lose income due to disability
Cost: $10-50/month depending on coverage amount
Critical Illness Rider
Pays a lump sum if you're diagnosed with a covered critical illness like heart attack, stroke, cancer, or kidney failure. Use funds for medical bills, treatment, or lost income.
Use case: Cover treatment costs and income loss during illness
Cost: $20-100/month for $25,000-$100,000 benefit
Accidental Death Benefit Rider (ADB)
Doubles or triples your death benefit if you die in an accident. Also called "double indemnity." Only pays if death occurs within 90-180 days of accident.
Use case: Extra protection for higher-risk occupations or lifestyles
Cost: $5-20/month
Guaranteed Insurability Rider
Allows you to purchase additional coverage at specified future dates (marriage, birth of child, etc.) without medical exam or health questions. Must be purchased within certain timeframe.
Use case: Increase coverage as life circumstances change
Cost: $10-30/month
Child Term Rider
Provides term life insurance coverage for all your children (including future children) for one low premium. Typically $5,000-$25,000 per child. Converts to permanent policy when child reaches adulthood.
Use case: Affordable coverage for all children
Cost: $5-15/month covers all children
Long-Term Care Rider
Allows you to access death benefit early to pay for long-term care expenses if you become chronically ill and need help with daily activities. Reduces death benefit by amount used.
Use case: Cover nursing home or in-home care costs
Cost: $30-100/month depending on benefit amount
Return of Premium Rider
Returns all premiums paid if you outlive your term life policy. Converts term life into a "refundable" policy. Significantly increases premiums (30-50% more).
Use case: Want premium refund if you don't die during term
Cost: 30-50% premium increase
Conversion Rider
Allows you to convert term life insurance to permanent (whole or universal life) without medical exam. Usually available during first 10-20 years of term policy.
Use case: Flexibility to convert to permanent coverage later
Cost: Often included free in term policies
Which Riders Should You Consider?
Recommended for Most People:
Accelerated Death Benefit
Often free, provides valuable flexibility for terminal illness
Waiver of Premium
Protects your coverage if you become disabled
Conversion Rider (for term policies)
Usually included free, provides important flexibility
Important Considerations
Riders Increase Premiums
Most riders add to your monthly cost. Ensure the benefit justifies the expense.
Add Riders at Purchase
Many riders must be added when you first buy the policy. Adding later may require medical underwriting.
Read the Fine Print
Understand definitions, exclusions, and waiting periods. For example, critical illness riders have specific illness definitions.
Don't Over-Insure with Riders
Some riders (like accidental death) may duplicate coverage you already have. Evaluate your total protection needs.
Average Cost Impact
Additional Monthly Cost
$5-100/month
Per rider, varies by type and coverage
Accelerated Death Benefit
Often free
Waiver of Premium
$10-50/month
Critical Illness
$20-100/month
Accidental Death
$5-20/month
What coverage level do you need?
Choose the protection that matches your requirements