It’s certainly no secret that term life insurance is the most affordable solution for replacing one’s income in the event of one’s death. It’s also no secret that young and healthy adults can purchase coverage for a reasonable price. What many people don’t know is that life insurance doesn’t have to just be a death benefit.
Take a look at the top riders that you can add to your term insurance.
- Disability Waiver of Premium Rider – This important rider provides for the life insurance company to waive your periodic premiums when you are totally disabled and unable to work.
- Guaranteed Insurability Rider – With this rider, you can add additional coverage to your policy without having to worry about medical underwriting. For young adults who are starting a family on a shoestring budget, this rider will be critical as your family grows and your debt grows with it. The more you owe, the more life insurance you need.
- Accidental Death Benefit – Commonly referred to as ADB, this rider provides for your insurer to pay a higher death benefit (usually two times your normal benefit) if you were to die as the result on an accident. It’s also a handy rider to add to your policy when you cannot afford to purchase the full death benefit that you need to replace your income.
- Child Term Rider – If you are starting a family or already have children, they should be insured as well. No one likes to consider the death of a child, but unfortunately, it does happen. The last thing you want to worry about it paying for his or her funeral while you’re grieving your loss.
Work with a qualified life insurance agent to find the right riders and coverage for your needs. If you are unsure about how to get started on your life insurance policy, talk to the professionals at Lou Aggetta Insurance Services in Pleasant Hill. Our experts are ready and waiting to help you determine your life insurance needs and explain how a policy can protect your finances. Give us a call today to get started!