aig life insurance riders

A spouse rider is a method of adding a certain amount of insurance to protect your spouse. It's less expensive than obtaining an individual life insurance policy; however, it might not offer enough protection.

When purchasing an insurance policy that covers life, be aware of potential options for additional coverages and the associated costs.

A fatality rider usually costs extra. It is possible to add it to an existing term insurance policy or a whole life insurance policy without having an examination until you reach a certain point, around the age of 65. The payouts for an accidental death rider can decrease after you attain a certain age, typically at around 70.

There are many different life insurance riders. Not all are made equal -- although some may add benefits to your insurance, some are more expensive than what they're worth.

In some instances, the type of rider will ensure that your policy won't end if your cash value drops below a certain amount for some policies that are permanent. In other situations, it can stop the policy from lapsing or ending during the duration of the rider in the event that specific requirements for premiums are fulfilled.

It is recommended to purchase any rider when you buy your basic life insurance plan. The addition of an insurance rider to your life later on, will usually need you to undergo the process of underwriting again and may require a medical examination. Because the insurance company is increasing their chances of obtaining you for a rider, they'll want to check your health.

Certain insurance companies allow you to make use of all or part of the refund towards an insurance policy without the need for another medical exam if they would like to maintain your coverage.