Family Term Riders in Life Insurance

These flashcards cover key vocabulary related to family term riders in life insurance, including definitions and specifics about the different types of riders.

Family Term Rider

A rider that allows additional insureds, typically family members, to be covered under the same life insurance policy.

Spouse Term Rider

A specific type of rider that adds life insurance coverage for the insured's spouse, usually expiring at age 65.

Children's Term Rider

A rider that provides term insurance coverage for the insured's children, usually expiring when the child reaches a specified age, such as 18 or 21.

Level Term Rider

A rider that can be added to the insurance base policy to cover additional insurance or insureds.

Additional Cost

The extra premium that may be required to add riders for family members to a primary life insurance policy.

Limited Period Coverage

Coverage that only lasts for a specific duration, often until a certain age is reached.

Premium

The amount paid for an insurance policy or rider.