Everyone knows that Life insurance helps provide financial protection for families and loved ones in case of death. However, you might not know that a number of "riders," either included in most Term Life policies, or inexpensive to add, can provide additional benefits.

Accelerated Death Benefit (ADB). For obvious reasons, Term Life coverage doesn't directly benefit the policyholder. If you become terminally ill, you can help cover medical bills by tapping into a portion of the policy benefit through ADB.other related expenses.

Conversion. Term life insurance covers your death for a predetermined amount of payments and a fixed period. This option allows you to convert the policy to Permanent Life insurance before a set number of years or a certain age. Because the premium is based on the original policy date, if your health declines after this date, you won't have to pay higher premiums for converting the policy.

Term Life policies usually include these riders free of charge. Two other common options add good value for a nominal premium surcharge.

Accidental Death Benefit

This rider will raise the policy payout significantly - in many cases doubling the base coverage --to your beneficiary(ies) if you die from an accident or injury rather than natural causes or disease. Policyholders often choose this option to ease the heavy financial and emotional toll of an accidental or unexpected death on their family.

Child Rider

It's the last thing any parent wants to think about. However, in case a child should die, this option adds a few thousand dollars of coverage to help pay funeral expenses.

You can choose (and pay for) a variety of other riders to customize your Life policy. As always, we're happy to offer our advice.

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