Riders are additional insurance clauses that can be added to an existing policy to give a policyholder additional coverage. They are often used to customize the insurance policy to meet the policyholder's specific needs. Generally, riders are offered at an additional cost to the policyholder on top of the premiums held for the existing policy.

Riders offer various options to policyholders looking to tailor their coverage. Many different types of riders are available, including long-term care, term conversion, waiver of premiums, and exclusionary riders. Long-term care riders cover the costs of care and services that are not usually covered by regular health insurance policies. This could include things like home health services, adult day care, and assisted living facilities. Term conversion riders give the policyholder the option to convert their term life insurance policy to a permanent one. Waiver of premium riders allow the policyholder to stop paying premiums if they become disabled. Lastly, exclusionary riders are used to exclude coverage for certain high-risk activities or items.

These riders can be added before or after the policy has been initiated. Typically, riders can be added at any time to an existing policy unless there are language restrictions set in place by the insurer. It is important to note that each rider is subject to the underwriting guidelines of the carrier, so it is important to be aware of any potential restrictions or exclusions that are in place.

Riders are a great way for policyholders to customize their policies to meet their individual needs. It is important for policyholders to understand their riders and options so they can make informed decisions when selecting coverage. That way, they can make sure that they are protected and get the most out of their insurance policy.