What are riders in a life insurance policy?

Riders in a life insurance policy refer to additional provisions or endorsements that customize the coverage offered by the primary policy. They allow policyholders to adjust their insurance to better fit their specific needs, providing flexibility in coverage. For instance, a policyholder might add a rider for accidental death benefits, which provides an extra payout if the insured dies due to an accident, or a waiver of premium rider that waives premium payments if the policyholder becomes disabled.

This customization can enhance the overall value of the policy and provide extra protection for various scenarios that standard life insurance may not fully cover. Therefore, the inclusion of riders makes life insurance policies more tailored to individual circumstances, showcasing their importance in personalizing insurance coverage.

The other options do not accurately reflect the nature of riders. Standard provisions are the basic components of the life policy itself, while exclusions would involve circumstances or events that are not covered by the policy. Types of insurance policies collectively refer to the various categories under which insurance can be categorized, rather than elements that can be added to specific policies.