What is the primary purpose of a riders in a life insurance policy?

The primary purpose of riders in a life insurance policy is to amend or add to coverage. Riders are optional provisions that can be added to a life insurance policy to customize the coverage according to the policyholder's specific needs. These modifications can enhance the policy by providing additional benefits or modifying existing ones.

For example, a rider might allow for accelerated death benefits, which enable the insured to access a portion of the death benefit while still living if diagnosed with a terminal illness. Other types of riders can provide coverage for critical illnesses, accidental death benefits, or even waiver of premium provisions. This adaptability is a significant reason why policyholders might choose to incorporate riders into their life insurance policies, ensuring that their coverage better aligns with their personal circumstances and financial objectives.