Rider
/RY-dur/
An addition that modifies your insurance policy.
Definition
A rider (also called an endorsement) is an addition to your insurance policy that modifies coverage. Riders can add benefits (like accidental death benefit in life insurance), exclude certain coverages, or customize your policy to better fit your needs.
Example
Adding a waiver of premium rider to his life insurance meant premiums would be waived if he became disabled.
More General Terms Terms
The amount you pay for your insurance policy.
The amount you pay out-of-pocket before insurance kicks in.
The contract between you and your insurance company.
A request for payment under your insurance policy.
The protection provided by your insurance policy.
The maximum amount an insurer will pay for a covered loss.
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