Life insurance is one of the best things you can buy to protect your family from suffering financial loss in the event of your death. What many people don’t know is that term life insurance can be more than just a death benefit. You can customize your life insurance policy by adding riders or special endorsements to enhance your policy to fit your specific needs.
Take a look at the top riders that you can add to your term insurance.
Accidental Death Benefit – Commonly referred to as ADB, this rider provides for your insurer to pay a higher death benefit (usually two times your normal benefit) if you were to die as the result of an accident. It’s also a handy rider to add to your policy when you cannot afford to purchase the full death benefit that you need to replace your income.
Accelerated Death Benefit – An accelerated death benefit rider allows you to use all of a portion of the policy death benefit for various expenses in the event you are diagnosed with a chronic, critical, or terminal illness.
Disability Income Rider – This important rider provides a supplementary income benefit if you were to become totally disabled.
Guaranteed Insurability Rider – With this rider, you can add additional coverage to your policy without having to worry about medical underwriting. For young adults who are starting a family on a shoestring budget, this rider will be critical as your family grows and your debt grows with it. The more you owe, the more life insurance you need.
Child Term Rider – If you are starting a family or already have children, they should be insured as well. No one likes to consider the death of a child, but unfortunately, it does happen. The last thing you want to worry about is paying for his or her funeral while you’re grieving your loss.
We are here to help you understand your life insurance options and narrow down your choices. To speak to a team you can trust, contact the professionals at Massive Insurance. We are ready to get you the right life insurance coverage today.