Commonly called ‘optional benefits’, a policy rider is an add-on to your insurance policy. It provides extra benefits for you to claim on in the future. This is something your insurer or financial planner will need to account for when your policy is being organised.
Are you seeking out more comprehensive life insurance? You may find that adding certain benefits to your life insurance gives you peace of mind. Otherwise, a standard policy may suit you just fine.
Yes. With extra cover comes extra cost. How much it ends up costing largely depends on your existing level of risk. You’ll have to…
You can also get waivers for things like…
No, if you’re considered especially risky to insure, you may not be able to attach riders to your policy (e.g. if you’re over a certain age, or employed in a high risk field).
Additionally, not every insurer supports any or all of the above benefits. Your first priority when getting life insurance is seeking out the right type of cover. After that, ask your insurer about optional benefits.
Ready to get covered? Compare life insurance right now!
The information provided here is general only and does not consider your personal objectives, financial situation or needs. Before you decide to purchase a product, it is important to read the relevant PDS.