​Life insurance policies often come with features that are built into your premium cost – or optional coverages known as riders that you can add to your policy for a price. Ask your insurance agent about the features and optional coverages available to you.

6 common features and riders

1. Joint policy – pays a death benefit to the surviving spouse, or to your estate after both of you die. Similar to a term life insurance policy for both you and your spouse, but can cost less than buying 2 separate policies.
2. Disability waiver of premium – waives your premium during any period in which you become disabled.
3. Accidental death benefit – provides your beneficiary with an additional death benefit if your death occurs by accident.
4. Conversion right – lets you switch from a term to a permanent life insurance policy without getting a medical exam.
5. Guaranteed insurability – lets you increase your death benefit without getting a medical exam.
6. Children’s life insurance rider – provides life insurance protection for all children in your immediate family.