What to ask about Child Term Life Insurance Riders

Raising a Family

When shopping for life insurance quotes you may be looking for life insurance plans that also cover children. One way to secure coverage for a child is with a child term insurance rider. When you are gathering quotes from insurance carriers, you will want to verify that they offer this type of additional rider. A rider is a document that can be attached to a life insurance policy. If you have a $100,000 term life insurance policy with a $10,000 child rider this means that coverage for your children in the amount of $10,000 each, is attached to your policy. If a child passed away while your policy is active and in-force the insurance company would pay out the $10,000 to you, based on the policy guidelines.

There are some important questions you want to ask about child riders to make sure you understand how they work with the particular life insurance carriers you are gathering life insurance quotes from. Here is a list of questions to ask to help you determine if you want to add children as a rider under your policy.

1. What is the additional monthly cost to add each child?

2. Are all children included under one price?

3. What are the children’s age requirements to be included on a child rider?

4. What are the amounts of coverage available on my children?

5. Does the rider include children under legal guardianship, adoptions and step-children?

6. At what age does the child rider coverage end on my child?

Keep in mind that the child term life insurance riders are attached to your policy so if you cancel or lapse the term life insurance coverage, the child rider coverage will also come to an end. So that’s my two cents on questions to help you with adding life insurance coverage for your children. 

About the author: Dan Cody has been in the life insurance business for over 7 years. He loves playing a variety of instruments including the guitar, bass, drums, and piano. He also supports cancer research foundations and volunteers at local pet shelters. Dan enjoys helping customers understand life insurance, so they can find a solid policy that fits their needs. You can reach Dan at 1-800-651-1953 or DCody@Pivot.com.