Today’s post is the latest in our blog series on life insurance riders intended to help you better understand your coverage options. As a quick review, a life insurance rider is a clause that can be added to your life insurance policy; essentially enabling you to customize your coverage.
Family Income Benefit Life Insurance Riders
A family income benefit rider provides monthly income to policy beneficiaries in the event of the insured’s death. This income is paid out in addition to the death benefit, which beneficiaries receive at the time of the insured’s death. With a family income benefit rider you can specify the amount of time that you would like your family to receive this monthly income. As you age, the number of years for which your family will be eligible to receive compensation decreases and eventually diminishes all together.
Family income benefit life insurance riders are designed with the growing family in mind. If you’re currently raising a family, or face the financial responsibility associated with the care of others, a family income benefit rider may be a great option for you. This added coverage can help you rest assured that your family will be provided for even if you are no longer able.
Want to learn more about the options available to you through life insurance riders? We encourage you to contact us today! Our staff of highly experienced, licensed life insurance agents is available to help you compare the life insurance riders and policies that meet your needs and your budget.
We also encourage you to follow our Life Insurance Blog; here we discuss the topics and issues that affect the financial well being of you and your family. While you’re here, check out the rest of our series on life insurance riders:
Have you ever compared your life insurance rider options?