For example, you might choose to add a rider to your homeowners insurance to cover a high-value item like an engagement ring, or a potential issue like water backup. In the insurance world, though, life insurance riders are additional coverages that can either be included in a policy or that you can purchase for an additional fee. Automatic Premium Loan Provision RiderĬan You Add a Rider to an Existing Policy?Įspecially when you're surrounded by action figures and kids' hobbies, 'riders' might make you think of superheroes or maybe equestrians. Accelerated Death Benefit Rider (Living Benefit Rider)ġ5.
