Life Insurance Riders

Life Insurance Riders

Life insurance riders are additional provisions that can be added to a life insurance policy to customize the coverage and provide additional benefits. Riders can be added to term life insurance, whole life insurance, and universal life insurance policies, and they typically come with an additional premium.


There are many different types of life insurance riders, and the availability and terms of riders may vary by insurance company and policy. Some common types of life insurance riders include:


  • Accidental death benefit rider: Provides an additional death benefit if the policyholder dies as the result of an accidental injury.

  • Long-term care rider: Provides coverage for long-term care expenses, such as in-home care or assisted living, if the policyholder becomes chronically ill or disabled.

  • A chronic illness rider is a type of life insurance rider that provides coverage for expenses related to a chronic illness, such as long-term care or in-home care. The rider is typically added to a permanent life insurance policy, such as whole life insurance or universal life insurance, and it allows the policyholder to access a portion of the death benefit while they are still alive if they are diagnosed with a qualifying chronic illness.

  • An accelerated death benefit (ADB), also known as a living benefit or terminal illness rider, is a provision that is often included in life insurance policies that allows the policy holder to access a portion of the death benefit while they are still alive under certain circumstances, such as a terminal illness or long-term care need. The ADB allows the policy holder to use the death benefit to cover expenses related to their qualifying events, such as medical bills or end-of-life care.

  • A term conversion rider is a type of life insurance rider that allows a policyholder to convert their term life insurance policy to a permanent life insurance policy without undergoing a medical examination. The rider typically allows the policyholder to convert the policy to a permanent policy, such as whole life insurance or universal life insurance, at any time during the term of the policy, as long as the policy is in force.  

  • Waiver of premium rider: Waives the policy's premiums if the policyholder becomes disabled and is unable to work.

  • Children's term rider: Provides term life insurance coverage for the policyholder's children.

  • Spouse rider: Provides life insurance coverage for the policyholder's spouse.




It is important to carefully review the terms of any life insurance riders that you are considering and understand the conditions under which they are available. A financial advisor or insurance professional can help you determine which riders may be a good fit for your needs and budget.

Deepak Sharma

Deepak Sharma

Insurance Advisor / WealthGuard


  • My goal is simple, protect what is important to you. I focus my energy on discovering your exposure to risk and building a comprehensive plan to protect you against those risk.