A term insurance rider is like adding a turbo boost to your permanent life insurance. It gives you a temporary bump in coverage for a set time, like 10 or 20 years. Think of it as a way to get extra protection while you’re paying off a big mortgage or raising a young family.
Let’s say you want a $250,000 permanent policy, but you need more coverage for the next 20 years. A term rider of $250,000 would bring your total coverage to $500,000 for that period. Once the term is up, your coverage would go back down to the permanent amount. It’s a flexible way to meet your needs at different stages of life.
Want to know more about term riders and how they could work for you? Let’s chat! Our easyLife experts are here to help.