What type of term rider incorporates coverage for both a spouse and children?

The family term rider is designed to extend life insurance coverage to the insured's spouse and children under a single policy. This rider provides a flexible way to ensure that family members are also protected in the event of the primary policyholder's death. By incorporating coverage for both a spouse and children, the family term rider allows for added peace of mind, knowing that the financial protection extends beyond just the policyholder.

In contrast, the individual term rider typically covers only the policyholder, often adding specific benefits or coverage amounts without extending to other family members. The universal term rider is not a standard term and could be mistaken for flexible premium policies that accumulate cash value, but it does not specifically relate to coverage for spouses or children. Meanwhile, a group term rider generally covers a collective group of individuals, such as employees under a specific employer's plan, and does not focus on specific family arrangements like spouses and children of a single policyholder. Thus, the family term rider is the only option that directly addresses the coverage of both spouses and children.