5 Life Insurance Riders You Need to Have

​Perhaps, you've already figured out your life insurance needs. You already know how many years you're going to pay the premium. However, it would help if you did more homework. Often, life insurance can't help you much, except if you end up dead. Thus, you need to figure out which add-ons you need. Here are five life insurance riders you need to purchase.

Waiver of Premium Rider
You will need this particular rider in case you experience total disability. If you have this rider and you end up in an accident, then you don't have to pay the remaining premiums anymore. You stay at home without work, but your rider automatically settles your remaining premiums.

Disability Income Rider
This is another rider that you’ll need in case you encounter permanent disability. The disability income rider means you can receive regular income from your insurer in case you can’t work anymore. However, this usually depends on the premiums you’ve paid. Ask your insurer about this because sometimes they would only pay out under certain conditions.

Guaranteed Insurability Rider
You'll need this if you need more insurance despite the apparent decline in your health. This rider will qualify you for additional life insurance coverage without the need for a medical exam. This is useful if you've decided to buy more life insurance coverage when you're already older. However, you need to know about age restrictions when it comes to this rider.

Term Conversion Rider
You'll need this in case you want a conversion of your term life insurance to permanent life insurance. Your term life insurance may last only up to 20 years, but permanent life insurance insures you for life. In case you're planning to have an insurance conversion, later on, then you need this rider now. However, make sure that you know the deadlines, and you've asked your insurer about it.

Child Protection Rider
You’ll need this in case the undesirable or unthinkable happens. No one would want to lose a child. That’s why you set aside emotions when buying a child protection rider. This is to avoid possible financial consequences in case death happens to your child.

Some Last Words
You would not know what challenges and problems you’ll encounter ahead of time. Life insurance riders will always save you from unnecessary trouble. Check out your circumstances and know yourself better. Get life insurance that suits your lifestyle and goals.

At Oncken Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (281) 256-8310 or Click Here to request a free quote.