Rider
An optional addition to a life insurance policy that provides extra benefits or modifies the policy's coverage. Riders often come at an additional cost.
Detailed Explanation
Common riders include accidental death benefit, accelerated death benefit, and waiver of premium riders.
Practical Example
John added a waiver of premium rider to his life insurance policy. This means that if he becomes totally disabled, he may not have to pay his premiums while he remains disabled.
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