Riders are add-ons that modify or enhance the base policy. Availability and cost vary by insurer and policy type.

Common riders and why they matter:

Accelerated Death Benefit: Access part of the death benefit early if diagnosed with a terminal illness—useful for medical or end-of-life costs.

Waiver of Premium: Premiums are waived if the insured becomes disabled, preserving coverage during income loss.

Child Rider: Provides coverage for children, often convertible later without medical underwriting.

Conversion Rider (term policies): Allows conversion to permanent insurance without new health exams—valuable if health declines.

Trade-offs:

Riders increase premiums

Some duplicate existing coverage (e.g., disability insurance)

Others provide flexibility that’s impossible to add later

Best practice:
Add riders that protect against risks you can’t self-insure and that would be difficult or expensive to replace later.on for unexpected expenses