Riders (Insurance)
InsuranceGlossary term
Definition
Optional add-ons to an insurance policy that provide additional coverage or modify existing terms for an extra premium. Common examples include a waiver of premium rider on life insurance or scheduled personal property riders on homeowners policies.
Related terms
- PremiumThe amount paid for an insurance policy, typically monthly, quarterly, or annually. Premium costs vary based on coverage amount, deductible, and risk factors.
- Life InsuranceInsurance that pays a death benefit to beneficiaries when the insured person dies. Types include term life (temporary coverage) and permanent life (lifetime coverage with cash value).
- Whole Life InsurancePermanent life insurance providing lifetime coverage with a cash value component that grows over time. More expensive than term life but builds savings and offers guaranteed death benefit.
Get advice that uses your real numbers
Warren reads your accounts and explains what terms like this mean for your plan. Free to start, no credit card required.