What are riders in the context of life insurance?

In life insurance, riders are referred to as optional add-ons that enhance the policy by providing additional benefits or coverage options. These riders allow policyholders to customize their insurance coverage to fit their individual needs. For instance, a common rider may provide accelerated benefits in case of terminal illness, or allow for additional coverage for accidental death.

By having these optional riders, policyholders can tailor their policies, ensuring that the plan meets their personal circumstances and offers greater protection than the standard policy provisions alone. This flexibility is a significant aspect of modern life insurance products, making them more relevant and beneficial to policyholders.