Unlike built-in benefits of disability insurance policies, which are provided at no extra cost, riders are optional features that can be added onto a an insurance policy for a price. We’ve talked about some common life insurance and critical illness insurance riders before. Here we want to address some common disability insurance riders, and whether or not you should add them to your policies.
The essentials of life insurance are the coverage amount, premium and length of the term. These are built into every policy and their specifics usually draw the most attention with potential buyers. As well they should, because they are the most important aspects of any life insurance policy. But something that shouldn’t be overlooked is life insurance riders. Life insurance riders are optional features that one can choose to enhance their coverage at an increased premium. Here are some of the most common riders you will find on life insurance policies.