Life security is crucial, now more than ever. One day, everything in your career, health, and personal finance might be going perfectly fine and the next, the situation has changed, whether you are ready for it or not.
Although basic life insurance can give you good coverage against unexpected events, adding insurance riders will make your plan more versatile. A policy with riders can help ensure that whatever life throws at you, you’re more than able to deal.
What is an insurance rider?
You’ve probably heard of the term “insurance rider” but only have a vague idea of what it means in your insurance. Simply put, insurance riders are additional benefits that you can purchase on top of your life insurance policy.
These add-ons allow you to customize your policy by incorporating other kinds of protection that are not part of your basic plan. Adding riders to your policy gives you a more comprehensive package to help take care of your need for extra security for a minimal cost.
Below are common examples of riders that you can add to your life insurance policy. You can use the information to plan how you can maximize your insurance benefits.