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Guaranteed Insurability Rider – Why you Should add Insurance Rider To Your Existing Insurance Coverage

Guaranteed Insurability Rider

Guaranteed Insurability Rider

What is Guaranteed Insurability Rider?

Guaranteed Insurability Rider-In a simple explanation, is an additional insurance coverage to your existing insurance policy.

It is a non-compulsory insurance element in life and health insurance that gives you the right to purchase additional insurance without undergoing the long process you went through at your initial purchase.

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How Does a Guaranteed Insurability Rider Work?

Guaranteed Insurability Rider Works in a way that when you apply for life insurance, you’ll likely be required to answer a series of health questions. You may also have to undergo a medical examinations.

The insurers usually give you the opportunity to add a rider should incase you want to boost your coverage at a later date. For example, you may be asked if you’d like to include one or more riders?. As a policyholder, it’s solely your choice to include or remove a rider in your policy. In summery, guaranteed insurability rider allows you to purchase additional coverage.

These series of questions which the insurance company would ask you are all dependent on the amount of the death benefit you need in your life insurance. Your age, health, and the amount of coverage, all play a role in the insurance company rates. Age has a big influence in insurance premiums-The higher you age, the higher your insurance premium.

So in the future if you find that you need more coverage, you can always apply for additional coverage later. But what if by then your health has significantly changed? Which you know that, people generally don’t get healthier as they age. So If you wait to apply for additional coverage in the future, the insurance rating may increase and not be as favorable as it were when you initially purchased the policy and you could end up paying higher premiums.

What you Need before you buy Guaranteed Insurability Rider

To buy a guaranteed insurability rider, you need a permanent life insurance policy, such as whole life insurance. A permanent life insurance policy covers your entire life, as long as the premiums are paid.

Unlike term life insurance, which only promises to pay out a benefit if you die during the term. So Knowing how a guaranteed insurability rider works can help you decide if you need to purchase one for your own life insurance needs.

Guaranteed Insurability Rider

What you Need to Know about Guaranteed Insurability Rider

The amount to which you will increase your benefits will only come from your insurers. For instance, if you purchase a $50,000 policy, you may likely be able to increase the guaranteed insurability rider benefit to as high as $50,000. So after adding your guaranteed insurability rider, your death benefit would be $100,000.

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Do I Need a Guaranteed Insurability Rider?

Guaranteed Insurability Rider is beneficial to anyone younger than 40 who has reason to believe they will face health challenges in the future. If you have chronic illness or health problems that runs in your family, purchasing a permanent life insurance policy with a guaranteed insurability rider can ensure you have the benefit you need while you maintain your low premiums.

 Insurance rider is a package  that can be used to expand your policy’s coverage. A guaranteed insurability rider, allows you to increase your policy’s death benefit without being subject to a second medical exam. Adding rider could make sense if you think your life insurance needs may change in the future, though it could also mean paying higher premiums.

Advantage of guaranteed insurability rider

Disadvantages of Guaranteed Insurability Rider

Types of Guaranteed Insurability Rider


In summery, a guaranteed insurability rider can be used to increase your life insurance coverage without a second medical exam. However, it will add extra cost to your policy. It may not be necessary if you already have sufficient insurance.

What Is an Accidental Death Benefit Rider?

Guaranteed Insurability Rider

An accidental death benefit rider is a non-compulsory feature you can add to a term life or whole life insurance policy in order to grant your loved ones access to a death benefit if you die in a covered accident. That means that if you pass away unexpectedly from a covered accident, your family will still be protected financially.

Accidental Death Benefit Rider is totally different from a standard accidental death benefit policy. In the traditional accident insurance policy, your beneficiaries are only compensated with little cash, while in an accidental death benefits rider, your beneficiaries are granted access to a large sum of cash. You can add an accidental death rider to your current life insurance coverage, helping you customize it to fit your unique needs.

Accidental death rider, may sometimes cover major non-fatal injuries that prevent you from working. But this depends on the rider, however. Your life insurance agent can help you understand what the accidental death rider covers, so you can make the right choice for you and your beneficiaries.

How Do Accidental Death Benefit Riders Work?

Accidental death benefit riders offers your beneficiaries an extra payout on top of your regular life insurance policy in the event of death. This extra payment can sometimes double the amount of money your family receives in your regular life insurance policy. This is what makes Accidental Death Benefit Riders better than the regular life insurance coverage. Once the insurance company confirms that your death meets the requirements of the rider, your loved ones will receive the payment.

Disadvantage of Accidental Death Benefit Riders

Accidental death benefit rider adds extra coverage to your policy, so buying one will likely increase your premiums, or payments. But then, the good thing about Accidental Death Benefit Riders is that adding that protection can save your family from dealing with major expected expenses when you are no more.

Is an accidental death benefit rider a good fit for me?

Who need Accidental Death Benefit Riders ?

Accidental Death Benefit Riders might be a good fit for you if you:

What does an accidental death benefit rider cover?

Here are types of accidents that may be covered under Accidental death benefit riders:

Sometimes Accidental death benefit riders may include major injuries or trauma, in that case, you may also be covered for limb loss; loss of hearing, eyesight, or speech; or partial or permanent paralysis.

What an accidental death benefit rider does not cover

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