Accidental Death or Double Indemity Rider
If the insured dies by accident, this additional treaty will pay additional compensation for the death. Normally, the additional amount of compensation covered by the accidental death is equivalent to the original policy's death compensation, and the total amount of compensation will be twice that of the original policy. That is to say, the beneficiary will be able to obtain double life insurance compensation for personal injury or death, which is why this attachment is called a double compensation contract. Of course, not all insurance companies have this contract for any product, and insurance companies have very clear definitions and limitations on the definition of "accident". This attachment is particularly suitable for the insured person is the only source of income in the family, if there is an accident, double protection can better take care of the family, through difficult times.
3. Waiver of Premium Rider
Under the premium waiver, the insurance company may waive the subsequent insurance costs that the insured person has permanently disabled or lost his or her income due to injury or illness prior to the prescribed age. The insured person's permanent disability or loss of income due to a major illness or accident will have a very serious impact on the whole family life. This attachment exempts the insured from paying the main policy until the insured is able to resume working. The definition of "total disability" varies from company to insurance, and special attention needs to be paid to the scope of the definition of this covenant before taking care of it.
4. Family Benefit Income Rider
In the event of the death of the insured, the beneficiary will normally receive a one-time compensation for the death stipulated in the policy. This subscription will provide a fixed cash income for a fixed period of time for family members to help them face less financial difficulties.
5. Accelerated Death Benefit Rider
Under the life insurance advance payment treaty, if the insured is diagnosed with a terminal illness (advanced illness/major illness), the life of the insured will be greatly shortened, and the insured may use this part of the death in advance to compensate. In general, insurance companies will pay 25-40% of the total coverage to the insured. The insurance company will deduct the amount and interest paid in advance from the insured person's death compensation. In most cases, there is a certain fee for this attached appointment, and if you do not have to pay the cost of the contract in advance, the cost of this contract will be deducted when the life insurance payment is paid in advance. Similarly, each insurer has a different definition of a "terminal illness", so check through the terms of the additional treaty before you buy.
6. Child Term Rider
The policyholder may add a term life insurance contract to his or her child's policy if the child is able to provide a protection of death compensation before the child's appointment at a certain age. At the same time, if the policyholder is worried that the child may have a potential genetic disease, grow up because of physical condition can not guarantee life insurance, this contract can guarantee the child's life insurance, when the child grows up without additional medical check-up, this part of the fixed-term life insurance into permanent life insurance. The amount of protection that can be purchased can be up to five times that of the original term life insurance.
7. Long Term Care Rider
If the insured person is unable to complete the basic activities of life on his own due to old age, illness or disability and needs long-term care, this contract can provide the insured with the monthly professional care costs required for long-term care. While long-term care insurance can be purchased separately, many insurance companies also offer long-term care coverage in life insurance policies, which is part of the Accelerated Death DEd Rider "Life Insurance Advance Payment Treaty."
8. Return of Premium Rider
There are some insurance companies that offer premium refund saurate. Under this clause, the premium paid by the policyholder will be returned to the policyholder at the end of the term. Most of the products provided with this contract are fixed-term life insurance products, and the premium return contract is in various forms.
Most require additional fees, making term life insurance more expensive than similar products without such an enalsion.
Others have an extension designsimilar to an annuity product, and insurers agree to refund all premiums after the expiration of the deadline. If the insured person dies, the beneficiary receives compensation about the premium already paid.
Be sure to know the details of the contract in advance of the contract before you buy.
This article describes several common life insurance apsignings. Each insurance company's product design is different, the product contains the same contract. Most insurance companies do not allow policyholders to change the design of their policies, and the existence of the contract provides greater flexibility for life insurance policies. While understanding the design of insurance treaties, the appropriate use of insurance provisions is attached to better meet the objectives that best meet the financial needs of the family.
