Insurance with Infiniti Episode 13: 🛡️ What Are Living Benefits? Activating Riders Explained

🛡️Life insurance riders offer additional coverage by “riding alongside” your policy.
🛡️Most insurers allow you to add riders to term and permanent policies.
🛡️Some riders are included at no charge to you, while others might raise your rate.

Life insurance riders are optional additions to a life insurance policy that provide supplemental coverage or benefits you wouldn’t receive otherwise. They can help you personalize your policy to fit your and your loved ones’ needs.

To activate a critical illness rider, chronic illness rider, terminal illness rider or long-term care rider, you'll need to prove your serious health condition to your insurer.

Once approved, you can access a portion of your policy's death benefit up to a set amount. Usually, you'll receive this as a lump sum, though some insurers may offer staggered payments. You can often use the money to pay for medical bills, daily expenses, home care, and more, depending on the terms of your specific rider.

Note that although this rider gives you extra money when you're dealing with medical costs and cannot work, it lowers your death benefit.

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