Rider

What Does Rider Mean?
A provision in an insurance policy allowing for amendments to its terms and/or coverage.

Investopedia explains Rider
Riders are not necessarily found in all polices and because all riders provide some kind of benefit to the policy owner, an extra premium may be charged for them. An example of a rider being used is when a policy owner seeks temporary coverage during a public event.

Filed Under: Insurance, Personal Finance

Related Terms

Accidental Death And Dismemberment Insurance - AD&D
Accidental Death Benefit
Builders Risk Coverage Form
Commutation
Exoneration
Guaranteed Minimum Accumulation Benefit - GMAB
Life Insurance
Permanent Life Insurance
Term Life Insurance
Waiver Of Premium Rider
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