What is the main purpose of a rider in an insurance policy?

The main purpose of a rider in an insurance policy is to modify the coverage or benefits of the base policy. Riders are additional provisions that can be added to a standard insurance contract, allowing policyholders to customize their coverage according to their specific needs or circumstances. For example, a life insurance policy might include a rider that provides for accidental death benefits or a disability waiver of premium, enhancing the overall protection offered by the policy.

Riders serve as a valuable tool to tailor insurance products, giving individuals more flexibility and control over their insurance planning. They can address unique risks or provide additional benefits that are not included in the standard policy, ensuring that policyholders have coverage that aligns with their individual situations. This customization adds meaningful value and protection, making riders an essential feature in many insurance contracts.