3 Important Riders that Can Improve Your Life Insurance Policy!

In most cases, you can get the best out of your policy by purchasing additional options and features, commonly known as riders. Sometimes it is better to purchase riders rather than increasing the amount of coverage you take. Even if you buy an online life insurance policy, you can improve it by adding some essential options and features.

financial insurancel-advisorHere are 3 important riders that can improve your life insurance policy:

1.       Return of premiums rider

This rider is advantageous if you purchase temporary coverage. Many clients consider term life insurance a waste of money if their beneficiaries do not cash in the coverage. Whether surviving the policy’s term is bothering you or not, the fact remains that return of premiums rider is profitable to have.

This rider pays you pack the amount paid in premiums if you survive your temporary policy. By purchasing this option, you increase the cost of your plan and if you die during the policy’s term, your beneficiaries will not receive extra cash from the rider.

2.       Guaranteed insurability

Many policies do not allow you to change the amount of coverage provided by the contract. Not unless you have the guaranteed insurability rider. This option allows you to buy extra coverage, without having to go through medical examinations all over again.

This rider makes a term life insurance plan more flexible and it will help you adapt your policy to the changes that happen in your life.

3.       Accidental death or double indemnity rider

By having this rider, your beneficiaries will receive the doubled value of your current policy’s death benefit, if you death is a result of an accident. This rider is not very essential, but it can make your life insurance plan a lot more profitable.

Before purchasing this rider, make sure you carefully read the contract. The notion of “accidental death” differs from one agency to another.

In conclusion, buying additional riders can make your life insurance policy very profitable and a better protection tool for your family.

If you want to buy an online life insurance policy, compare quotes on our website. We do not sell life insurance plans, but we can help you find the best deals from top providers. Visit us!