What are riders in an insurance policy?

Riders in an insurance policy refer to optional add-ons that provide additional coverage or benefits beyond what is included in the standard policy. These riders allow policyholders to customize their insurance plans according to their specific needs. For example, a life insurance policy might include a rider for critical illness, allowing the insured to receive benefits if diagnosed with a specified serious condition.

By incorporating riders, individuals can enhance their protection and tailor their coverage, making their insurance more applicable to their personal circumstances. Riders can address various requirements, such as long-term care, accidental death, or waiver of premium, thereby offering flexibility and additional financial security. This customization is a critical aspect of modern insurance policies, as it allows policyholders to adapt their coverage as their life situations change.