Term Life Insurance Glossary

Accelerated death benefit rider

A supplementary life insurance policy benefit rider that allows a policyowner-insured to receive a specified portion of the policy’s death benefit before the policyowner insured’s death if certain conditions are met.

Also known as living benefit rider.

Accidental death benefit (ADB) rider

A supplementary life insurance policy benefit rider that provides for an amount of money in addition to the basic death benefit of a life insurance policy. This additional amount is payable only if the insured dies as the result of an accident.

Exclusion rider

An attachment to a health insurance policy that excludes or limits coverage for a specific health impairment.

Also called impairment rider or impairment waiver.

Impairment rider

See exclusion rider.

Living benefit rider

See accelerated death benefit rider.

Rider

An amendment to an insurance policy that becomes a part of the insurance contract and expands or limits the benefits payable.

Also called an endorsement.

Second insured rider

A rider that may be added to a permanent life insurance policy to provide term insurance coverage on the life of an individual other than the policy’s insured.

Also known as an optional insured rider or additional insured rider.

Spouse and children’s insurance rider

A rider that may be added to a permanent life insurance policy to provide term insurance coverage on the insured’s spouse and children.

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