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Information Center -
Life Insurance Strategies
Riders are one of the most useful ways to customize your insurance policy. A rider is a special policy provision or group of provisions that can be added to enhance the benefits of your policy. There are many different types of riders. Some of the more common ones include: Waiver of Premium: These riders come in several different forms, however the main benefit of a waiver of premium rider is that in the event that the insured becomes completely disabled, the premiums for the policy can be waived and the life insurance stays in force. Accidental Death: In the case of an accidental death, usually before a stated age, you get a larger death benefit. Term Insurance: There are a number of different types of riders that will provide Term insurance on one or more additional lives so you do not have to buy many separate policies. Death Benefit Indexing: These types of riders will increase your death benefit equivalent to either a fixed amount each year, or an external index such as the CPI. Every company is a little different in terms of which riders they offer, the costs, and the rules that govern them. It is important that you have a clear understanding of the specific riders you are adding to your policy.  To discuss your insurance needs, or to investigate which riders may be beneficial in your particular situation, give me a call at 1-877-628-5762 or send me an e-mail at cyoung@getcovered.ca. I would be happy to help. |
