Question

bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this?

Answer 1

Answer:

Guaranteed insurability rider

Explanation:

A Guaranteed insurability rider, also referred to as a GI rider, is a life insurance rider that enables a life insurance policy proprietor  to purchase extra life insurance without reinsurance.

Riders may be added at a price,  or they may be a free advantage included in the agreement at times. Usually,  the guaranteed insurability rider is accessible at a tiny extra charge.