life insurance riders

Top 5 Life Insurance Rider FAQ’s

December 23, 2021

DECEMBER 23, 2021: Life insurance is an incredibly important investment, but it’s estimated that only 54% of Americans have it. With all of the security that a policy can provide, why do nearly half of all adults opt out? In some cases, life insurance doesn’t offer the benefits an individual seeks — but luckily, there’s a solution. A life insurance rider is an additional coverage benefit that can be added to an existing policy. Check out the following life insurance rider FAQ's to learn what you need to know about life insurance riding.

1. What Are the Benefits of Life Insurance Riders?

If you’re on the fence about life insurance and unsure whether a rider is a good investment, you might be wondering how it can benefit you and your family. The benefits offered by a rider depend on what kind of rider you choose. If you opt for an accidental death rider, for example, it provides the benefit of an additional payout if the insured dies in an accident. If you choose a waiver of premium rider, the cost of premiums may be waived if the insured becomes disabled or unemployed as the result of an illness or injury.

2. Do All Life Insurance Policies Offer Riders?

Generally speaking, yes. Riders offer insurance companies the ability to provide additional coverage to their clients, so most companies offer a range of rider products that you can invest in to complement your existing policy. Different companies offer different types of riders, though, so you may need to shop around if you’re looking for a specific type of coverage.

3. Are There Any Exceptions to Life Insurance Riders?

Yes. If the insured dies or makes a claim in an instance of self-harm, suicide, drug use, or recklessness.

4. How Can Critical Illness or Disability Be Proven?

If a rider offers certain benefits in the event of disability or critical illness — which is a common type of rider — policyholders will wonder how they can prove their condition. Every insurance company has its own protocol, but typically, the insured’s health will need to be certified by a registered doctor. In some cases, additional certification by a medical professional appointed by the insurance company will also be required.

5. Why Are Life Insurance Riders Important?

Life insurance riders are important for many different reasons. Life insurance is a great investment, but it doesn’t offer coverage for a range of events that may alter a person’s life. If you want to protect your future and your family’s future, a rider is a great way to do so. Additionally, when a rider is added to an existing policy, it’s typically an affordable option for coverage.

To view riders available with 1891 Financial Life insurance policies, check out the bottom of the web page here: 1891 Financial Life: Life Insurance & Riders

About 1891 Financial Life

At 1891 Financial Life, we pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. We are a not-for-profit life insurance Society, which means the sales from these financial service products help fund member benefits along with social, educational, and volunteer programs designed to respond to community needs. 

Our portfolio is extensive, ranging from various life insurance policies to our MYGA to support your financial needs no matter what stage of life you’re in. For more information, contact us at (855) 804-7424.