Category Archives: Life Insurance Riders

The Term Guy Logo

Accidental Death Benefit

Posted on: January 14th, 2020 by Glenn

Accidental death benefit (ADB) is a rider that pays out if you die in an accident. Here, accidental roughly means the opposite of ‘for medical reasons’ rather than the opposite of ‘on purpose’. To clarify further, accidental death benefit does not pay out for death due to medical reasons such as heart attack, cancer, or stroke. Should you purchase accidental death benefit as a rider on your term policy? The answer is most likely no – it’s generally seen as counter to basic life insurance principles. Lets say you determine that you need $100,000 of life insurance. That $100,000 is …Read More

The Term Guy Logo

Children’s protection rider (CPR)

Posted on: January 14th, 2020 by Glenn

Children’s protection rider (CPR) is an inexpensive way to get a small amount of life insurance on your children. Added as a rider to your base life insurance policy, it covers them until they are adults, at which point the rider would expire Companies are fairly inconsistent with their CPR provisions, and practices vary wildly. So rather than doing a comparison, I’m going to offer a few things you should look into when purchasing a rider. CPR riders are generally available in increments of $5000, to a maximum of $25,000 or $50,000. Some CPR riders are priced per individual child, …Read More