By Svyatoslav Lypynskyy from AdobeStock
A life insurance rider is an optional feature that can be added on to a life insurance policy, providing additional benefits and flexibility. Some riders are included in certain policies, however, others are available for an additional cost.
What rider is right for me?
The right rider for you is dependent on many factors, including, budget, family needs, and long-term financial goals. Let’s go over some of the most common life insurance riders!
Common Life Insurance Riders
Guaranteed Insurability Rider
A guaranteed insurability rider lets you purchase additional life insurance coverage in the future without answering new health questions or taking another medical exam. Depending on the policy, additional coverage may only be available during specified option periods or qualifying life events, such as marriage or the birth of a child.
Accelerated Death Benefit Rider
A lot of life insurance policies include an accelerated death benefit rider. If you’re diagnosed with a qualifying terminal illness, you may be able to receive a portion of your death benefit while you’re still living. Any amount paid typically reduces the benefit your beneficiaries will receive later.
Eligibility requirements vary by policy and insurance provider.
Family Income Rider
A family income rider provides beneficiaries with regular income payments for a specified period after the insured’s death, instead of relying solely on a lump-sum benefit. This can help assist with ongoing household expenses and lost income.
Waiver of Premium Rider
If you become disabled and meet your policy’s definition of disability, a waiver of premium rider may allow your life insurance coverage to remain in force without premium payments during the approved disability period.
Return of Premium Rider
Available with certain term life insurance policies, a return of premium feature may refund some or all eligible premiums if you outlive the policy term, subject to the policy’s terms and conditions. Because this rider increases the cost of coverage, it’s worth comparing the added premium with the potential cost benefit.
Are Life Insurance Riders Worth It?
Life insurance riders can help customize your policy, but they also increase the overall cost of coverage. Prior to adding a rider, consider whether or not it addresses a specific financial need and review the policy’s terms, limitations, costs, and eligibility requirements.
A licensed insurance professional can help you compare the options and determine which riders may be the best fit for you!
Want to learn more about riders? Checkout this article about non-cancellable riders on disability income policies: https://empowerhealthinsuranceusa.com/non-cancellable-riders/
Life Insurance Questions?
We hope this information on life insurance riders is helpful.
If you’d like to learn how we can help you plan your retirement, call Empower Brokerage to speak to one of our Life and Annuity experts (888) 539-1633
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This article was updated on July 29, 2026.