In life insurance, what do "riders" typically represent?

Riders in life insurance are additional features or benefits that policyholders can add to their base policy. These riders enhance the coverage by tailoring it to the individual's specific needs and circumstances. For instance, common riders include accelerated death benefits, which allow the insured to access a portion of the death benefit while still living under certain conditions, or a waiver of premium rider, which allows the policy to remain in force without premium payments if the insured becomes disabled.

The flexibility to customize a policy with riders is a significant advantage, as it enables individuals to build a more comprehensive financial protection plan that aligns with their life stage or personal health considerations. This customization is distinct from basic coverage terms, which outline what is covered and what isn’t, and from exclusions, which define limitations in the policy. Thus, the representation of riders as additional features or benefits is vital to understanding how life insurance can be adapted for diverse needs.