What is the role of "riders" in life insurance?

Riders in life insurance serve as additional provisions that can be added to a standard policy to enhance coverage and tailor it to better meet the policyholder's needs. Selecting a rider allows policyholders to increase the flexibility of their insurance plans, as they can choose coverage options that address specific circumstances or risks. For example, a common rider is an accelerated death benefit rider, which allows the insured to receive a portion of the death benefit while still alive in the event of a terminal illness.

This added flexibility is what distinguishes riders, making them valuable tools for policy customization. By incorporating riders, individuals can adapt their life insurance policies to reflect changes in their life circumstances, such as marriage, parenthood, or health concerns, ensuring their coverage provides the appropriate level of protection.

This understanding highlights the purpose of riders in enhancing a policy rather than merely affecting its premium, complexity, or overall benefits negatively.