What is a "rider" in the context of a life insurance policy?

In the context of a life insurance policy, a "rider" refers to an additional provision that enhances the base policy by providing extra benefits or coverage options. Riders allow policyholders to customize their insurance plan to better suit their individual needs or preferences. For instance, a policyholder might include a rider for accidental death benefits, which would pay an additional sum if the insured dies due to an accident.

By adding a rider, an individual can tailor the life insurance coverage to address specific circumstances that may not be fully covered by the main policy. The flexibility offered by riders is an essential feature of life insurance, enabling people to add benefits such as critical illness coverage or a waiver of premium in case of disability, among others. This customization is what makes riders a valuable aspect of life insurance policies.