At AHI Group, we offer the residents of Olathe, KS life insurance that helps them provide for their families in the event of their death. Life insurance policies, like other types of insurance, offer riders or add-ons that let you customize the policy to your needs. Life insurance riders allow you to add additional utility to your policy. Some add to the premium, while others do not. Let’s explore the most common riders and what each does.
Life Insurance Add-Ons
Accidental Death Rider
The accidental death rider pays an additional amount to your beneficiary if you die in an accident. Some of these riders pay twice the face value of the policy, hence the name double indemnity policy.
Guaranteed Insurability Rider
Adding a guaranteed insurability rider lets you add coverage at a later date without a follow-up medical exam. This can come in handy as you age and have children since as your family grows, so should your amount of insurance. If you develop an illness that would otherwise preclude coverage, with this rider, it won’t keep you from adding to your policy.
Waiver of Premium Rider
A waiver of premium ensures that if you sustain a disabling injury or illness, you won’t have to keep paying premiums for your life insurance to remain active. The rider pays the premiums for you.
Long-Term Care (LTC) Rider
You have two choices when it comes to LTC – a rider on your life insurance or a standalone policy. The rider adds LTC coverage to your life insurance that accesses part of your death benefit as funds to pay for care in a residential facility.
Family Income Benefit Rider
This life insurance rider provides monthly income for your family when you die. Typically a rider added to the life insurance of the sole income earner in a household, this add-on protects your family’s ability to maintain their way of life and high living standards.
Accelerated Death Benefit Rider
An accelerated death benefit lets you access your death benefit while you live if you receive a diagnosis of a terminal illness. This rider can protect other family finances and fund your medical costs to fight the disease.
Child Term Rider
A child term rider adds term life coverage for your minor child to an existing parental life insurance policy. It pays a death benefit if your child dies during the term covered.
Protect Your Family with Life Insurance
Contact AHI Group serving Olathe, KS to ensure that you provide for your family in death. Let us help you provide your family with peace of mind.
