Choosing the right life insurance rider is important if you want to make sure your family is covered in any situation.
Wheeling, IL (PRWEB) March 15, 2010
AccuQuote, a leader in providing term life insurance quotes to people across the United States, helps consumers understand and choose appropriate life insurance riders by providing useful tips. The multi-carrier life insurance brokerage firm emphasizes that life insurance riders personalize a consumer’s existing coverage.
“Life insurance is one of the most important purchases you’ll make to protect your family’s financial future,” says Byron Udell, founder and CEO of AccuQuote. “So naturally, there are some things you need to consider to make sure your family has enough coverage, like personalizing your coverage with life insurance riders.”
What are life insurance riders? Riders are affordable additions to life insurance policies that provide extra coverage for specific circumstances. The cost varies depending on what type they are and how much they cover. Consumers can do without some riders, but there are some that should definitely be considered adding on to an existing life insurance policy.
AccuQuote provides the three most common life insurance riders that can greatly enhance a consumer’s existing coverage:
- Accidental Death Benefit (ADB) – This type of coverage can be purchased on its own, but as a rider on a life insurance policy, it provides additional coverage if someone were to die accidentally. It may double the amount of the original death benefit.
- Waiver of Premium – If someone becomes disabled, this rider allows them the flexibility to waive the premium payment during the entire time they are disabled. With this rider, a consumer’s life insurance policy will remain in force even if they’ve experienced a loss of income due to a new disability.
- Accelerated Death Benefit – “If you’re diagnosed with a terminal illness while your life insurance policy is still in force, this rider gives you the option to collect all or part of the death benefit while you’re still alive,” says Udell. This may take away some of the financial burden of paying unprecedented medical expenses.
“Choosing the right life insurance rider is important if you want to make sure your family is covered in any situation,” says Udell. “Licensed life insurance agents, like the ones at AccuQuote, can educate you on all of the life insurance riders available and help you add the right one on to your existing coverage.”
AccuQuote helps consumers find the best values in term life insurance by combining instant online life insurance quotes with the personal service of unbiased life insurance professionals that can help answer questions, identify important issues, and make meaningful recommendations. The company offers consumers an extensive selection of life insurance options, including term life, whole life, and universal life, as well as selected annuities. The website has many handy insurance tools, including a life insurance needs calculator to help you figure out how much to buy, a glossary that explains industry terminology, a collection of articles that cover the basics about life insurance, and a blog which answer many questions about life insurance. For additional information or to get quotes for cheap term life insurance, please call 1-888-314-4455.