Sentences with phrase «special death benefit rider»

And to reduce policy earnings risk, the insured could add a special death benefit rider.

Not exact matches

You may even be able to find a policy that comes with a special rider that will allow you to raise your death benefit at specified anniversaries without medically qualifying for the increase.

Guaranteed Insurability Rider DEFINITION: an optional rider attached to permanent life insurance policies that allows the owner to elect to purchase additional life insurance death benefit coverage periodically at certain attained ages, or alternatively, upon certain special occasions such as marriage and the birth of a child.

Usually the option to add death benefit coverage through the GI rider occurs at certain pre-determined ages (which may vary by company) throughout the insureds life, but may also occur during special life events such as marriage or the birth of a child.

This has led to the creation of a number of special insurance riders that provide several different types of living and death benefit protection to contract holders.