how riders work on life insurance

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.

You can tap into your death benefit if in a terminal condition

You will likely need to submit documents from you and the Social Security Administration and a physician to prove your disability, in addition to the proof you provide to your insurance company every couple of years.

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.