Waiver of Premium Rider

A monthly income during the disability — A disability income rider pays the insured a monthly income if the insured becomes totally disabled, typically after a waiting period, for as long as the disability continues, subject to the rider's benefit period. It is added to a life insurance policy to replace lost earnings during a period of disability. This is distinct from a waiver-of-premium rider, which pays the policy premiums instead of providing income. The rider's cost depends on the benefit amount, the waiting period, and the definition of total disability stated in the policy.

National insurance concept

A monthly income for the remainder of the period if the insured dies during it — A family income rider pays the insured's family a monthly income for the remainder of a stated period if the insured dies during that period. For example, a 20-year family income rider pays monthly benefits until 20 years from the policy's issue date, after which the rider expires and only the base policy's death benefit remains payable. The rider's cost is relatively low because the monthly income is a fraction of the face amount and the exposure is limited to the income period. It does not replace the death benefit, which is still paid under the base policy.

National insurance concept