What is a "rider" in a life insurance policy?

In the context of a life insurance policy, a "rider" is an additional provision that modifies the terms of the standard policy. Riders can be added to customize coverage based on the needs of the policyholder, providing flexibility and enhancing the base policy. For instance, common riders include accidental death benefit riders, waiver of premium riders, and accelerated death benefit riders. Each of these may offer additional benefits or modify certain coverage aspects, allowing individuals to tailor their insurance to better align with their personal circumstances.

This versatility makes riders an essential tool in life insurance, allowing for expanded coverage options beyond what is typically included in a standard policy. The inclusion of a rider can address specific needs, such as providing additional funds in the event of an accidental death or waiving premium payments under certain conditions, ensuring that policyholders are adequately protected.