What riders/options/features are available on life insurance policies?
The following riders/options/features are available with some life insurance policies • Conversion Feature – allows the owner of a term life insurance policy to exchange (or convert) the policy to a permanent life insurance plan (whole life or universal life) without evidence of insurability. • Spousal Discount – if both a husband and a wife or two business partners purchase life insurance at the same time, then a discount will be deducted each year from the total cost of both policies. • Children’s Insurance Option – provides term life insurance coverage on each child of the insured’s family. • Accelerated Death Benefit – accelerates the availability of a portion of the death benefit if the insured is diagnosed as terminally ill by a licensed physician (must be terminal within 12 months). • Waiver of Premium Option – the insurance company will continue to make your life insurance premium payments if you become disabled. • Accidental Death Benefit Option – an additional death benefit w
The following riders/options/features are available with some life insurance policies: • Conversion Feature allows the owner of a term life insurance policy to exchange (or convert) the policy to a permanent life insurance plan (whole life or universal life) without evidence of insurability. • Spousal Discount if both a husband and a wife or two business partners purchase life insurance at the same time, then a discount will be deducted each year from the total cost of both policies. • Childrens Insurance Option provides term life insurance coverage on each child of the insureds family. • Accelerated Death Benefit – accelerates the availability of a portion of the death benefit if the insured is diagnosed as terminally ill by a licensed physician (must be terminal within 12 months). • Waiver of Premium Option – the insurance company will continue to make your life insurance premium payments if you become disabled. • Accidental Death Benefit Option an additional death benefit will be pa
• Conversion Feature allows the owner of a term life insurance policy to exchange (or convert) the policy to a permanent life insurance plan (whole life or universal life) without evidence of insurability. • Spousal Discount if both a husband and a wife or two business partners purchase life insurance at the same time, then a discount will be deducted each year from the total cost of both policies. • Childrens Insurance Option provides term life insurance coverage on each child of the insureds family. • Accelerated Death Benefit – accelerates the availability of a portion of the death benefit if the insured is diagnosed as terminally ill by a licensed physician (must be terminal within 12 months). • Waiver of Premium Option – the insurance company will continue to make your life insurance premium payments if you become disabled. • Accidental Death Benefit Option an additional death benefit will be paid if you die by accidental means. • Guaranteed Purchase Option – guarantees that you m
