Top 5 Life Insurance Riders Highlighted

    CHICAGO, IL, August 12, 2009 /24-7PressRelease/ -- While no one likes to talk about needed life insurance measures that need to be taken (death isn't exactly at the top of the topics list when it comes to dinner table conversation), it is a necessary part of life. A strong life insurance policy will prevent your family from suffering financial hardship after your death, and it will give you peace of mind during your lifetime, knowing they will be properly taken care of.

But a policy that lacks proper coverage and isn't drafted correctly can stand between your family's financial safety and financial catastrophe, according to a recently released article on InsuranceAgents.com. To ensure full coverage and protection, consult your life insurance agent and ask about what additional coverage and life insurance riders should be added to your policy.

A rider is an amendment or addition to your insurance policy that provides a specific coverage at your request. Each rider has its own additional cost, but they may provide vital coverage you feel is necessary to have a complete policy. But everyone is different, so you need a life insurance agent who takes into account your needs when recommending riders.

"The amount of and the kinds of life insurance riders one needs varies from person to person. Your lifestyle, your beneficiaries' needs will all yield different coverage needs and therefore, different life insurance riders. But some life insurance riders are fairly universal and generally a good idea for every policyholder to add to their life insurance policy," according to the InsuranceAgents.com article, 'Top 5 Life Insurance Riders.'

Some of the top five life insurance riders, as recommended by InsuranceAgents.com, include: accidental death benefit rider; a waiver of premium rider; and a family income benefit rider.

The article details the benefit to the policyholder and beneficiary from each of the riders. For example, the family income benefit rider provides a consistent and level income to your family.
"[The family income benefit] rider provides a continuous monthly payment to your beneficiaries in the event of your death. Rather then receiving one lump sum, your beneficiaries can receive the death benefit in monthly payments, which means a reliable source of income. When adding this life insurance rider, the insured (you) chooses the length of the term you would like to provide this income security," according to the article.

Keep in mind, that every policyholder and their family have different needs and so require different riders on their life insurance policy. Always consult your life insurance agent to decide which riders are most worth the cost of coverage. To balance the cost of the riders' coverage, look online for affordable life insurance rates and find a policy that fits your budget.

Staff Contribution: Meha Ahmad

Visit InsuranceAgents.com for more information.

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