What is a rider?

A rider is an add-on provision to an insurance policy that provides additional coverage for the policyholder.

Here are a few examples of riders:

• Term conversion riders allow you to convert your term life policy into a whole life policy.
• Waiver of premium allows you to waive the premiums for a certain period of time while you are disabled and unable to work.
• Return of premium is a term life insurance rider that provides a refund of the premiums paid into the policy if the insured person outlives the term.
• Accidental Death Benefit provides an additional payment to your beneficiaries if your death occurs as a result of an accident.
• Accelerated Death Benefit provides cash advances out of your policy coverage amount prior to your death in the event of a terminal illness.

Does Ladder offer riders?

Many customers inquire about riders in hopes that it will expand their coverage and add flexibility to their existing policy. However, that’s not always the case. While riders provide additional benefits, keep in mind that riders will likely increase the price of your coverage.

At Ladder, we do not offer riders because we believe that riders complicate life insurance and do not provide a significant benefit for their added cost.