What is an "endorsement" in the context of life insurance?

An endorsement in the context of life insurance refers to a modification or addition to an existing insurance policy that alters its terms or coverage. This can include various changes, such as adding or removing coverage, modifying definitions, or adjusting benefits. Endorsements are crucial because they allow policyholders to customize their policies to better suit their needs without having to rewrite the entire contract.

For example, if a policyholder wants to add coverage for certain conditions that were not originally included, they may request an endorsement to include these modifications. This flexibility is one of the essential features of insurance policies, enabling them to evolve over time to adapt to the policyholder's changing circumstances or requirements.

The other options are focused on different aspects of life insurance: legal documents for payment of benefits, statements by beneficiaries, or types of riders, none of which encapsulate the specific function and purpose of an endorsement in insurance.