Term Life Insurance – How to Improve Your Policy With Riders!

images3Term life insurance is considered one of the most flexible and affordable policies on the market. That makes it very appreciated and widespread in the US. There are many happy customers that calmly sleep at night knowing that the wealth of the family is safeguarded.

However, you can make this policy more effective if you add certain elements.  Let us tell you how to improve your policy with riders. And in the end, you can search for a term life insurance quote, compare prices and contact the insurer with a plan that suits your needs.

Adding rider extends the coverage and the effectiveness of a policy. People add riders so they or their beneficiaries get more money later. Inserting a rider is charged in premium price. The exact cost depends on the type of the rider and company.  Let us present you the most common riders and their benefits.

1)      Accidental Death life insurance rider. If the insured dies due to a car accident, the family will receive more money. It is called “double indemnity” rider because typically it pays off double the death benefit.

2)      Waiver of premiums. With this rider, you can cease paying the premiums for a period of time. It is ideal in case that you lost your job or you are sick and you need some time to recover.

3)      Disability rider. With the help of this rider, you can get some money for a period of time, typically 6 months. The paid amount will be a percentage of your lost salary.

4)      Return of premiums. You will get your money back if you have this rider and decide not to continue with the policy.

5)      Final expense insurance. Beneficiaries will have quick access to money, so they can offer a proper burial.

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