What are riders in life insurance policies?

Riders in life insurance policies refer to additional benefits or coverages that can be added to a standard life insurance policy for an extra cost. These riders allow policyholders to customize their insurance coverage to better meet their specific needs and circumstances. For example, common riders include accidental death benefit riders, waiver of premium riders, and accelerated death benefit riders, all of which provide the policyholder with additional protection or benefits.

By incorporating these riders, policyholders can enhance their policies to cover gaps in coverage or to ensure that they have protections suitable for their particular situation or goals. This flexibility is a significant feature in life insurance, as it enables customization beyond the basic coverage offered in standard policies.