Most
policies have a 2 - year contestability period, which means during the first two years
after buying life insurance, if it is found your insurance
policy was issued under misrepresentation, withholding of information by the insured or the owner, or similar reasons, the insurance company can declare your insurance
policy and any associated
riders void.
This could be an excellent
rider to take advantage of if
after buying the
policy you wanted to get more insurance — for example maybe you have a new baby on the way, or maybe you lost your job or changed jobs and no longer have a
policy at work — with the Additional Options
Rider you can increase your coverage without a medical exam.