bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this?

Question

Maximo

Social Studies

28 February, 00:35

bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this?

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Answers (1)

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Nikolas Jensen · Answer 1

Guaranteed insurability rider

Explanation:

A Guaranteed insurability rider, also referred to as a GI rider, is a life insurance rider that enables a life insurance policy proprietor to purchase extra life insurance without reinsurance.

Riders may be added at a price, or they may be a free advantage included in the agreement at times. Usually, the guaranteed insurability rider is accessible at a tiny extra charge.