One size definitely doesn’t fit all when it comes to life insurance. With SBLI’s array of riders, you can add benefits to your policy to help make sure it fits your life like a glove.
What is a Rider?
Riders are kind of like heated seats for your car—they’re optional, but when you need them, you’re awfully glad you have them. Essentially, riders are simply add-ons that you can choose to attach to your policy. Some are included automatically at no cost, while others have fees or additional premiums associated with them. Want to know more? Read on.
Accelerated Death Benefit Rider1
Automatically included at no premium charge, this rider pays up to $250,000 if a verified physician’s statement indicates the insured has a terminal illness which will result in death within 12 months. Keep in mind that using this rider will lower your policy’s death benefit by the amount of the accelerated payment.
Available with: All SBLI life insurance products.
Children’s Level Term Rider
Provides coverage at one low cost for all natural or legally adopted children who are unmarried, financially dependent on the insured, and are older than 15 days and less than 23 years old at time of issue. It is convertible to a permanent SBLI life insurance policy for up to five times the rider’s face amount.
Available with: SBLI whole life insurance, SBLI term life insurance
Accidental Death Benefit Rider
Pays the rider’s face amount in addition to the base policy’s death benefit if the insured dies due to an accident within 180 days of the accident, as indicated by a physician’s statement or a death certificate.
Available with: SBLI whole life insurance, SBLI term life insurance
Waiver of Premium Rider
Waives premiums if the insured becomes totally disabled and is prevented from working for pay or profit.
Available with: SBLI whole life insurance, SBLI term life insurance
Guaranteed Purchase Option Rider
Allows the insured to buy more coverage at specified ages or life events with no medical exams or health questions.
Available with: SBLI whole life insurance
Single-Pay Paid-Up Additions Rider
Allows the insured to make a single additional cash deposit at the time of policy issue to enhance the policy’s death benefit and cash value.
Available with: SBLI whole life insurance
Term Rider
Guaranteed Level Premium Term Rider— Can be added to SBLI whole life insurance to provide additional, affordable term life insurance coverage for 10, 15, 20, 25, or 30 years with premiums guaranteed to not increase during the period you select, and until age 85 on an annually increasing basis.
Available with: SBLI whole life insurance
Cash-Out Term Rider
Can be added to SBLI Whole Life insurance to provide additional, affordable term life insurance coverage. This 30-year term rider can also be surrendered by the insured to receive a partial or full refund of rider premiums, depending on the timing of the surrender.
Available with: SBLI whole life insurance2
Child Level Term Life Insurance Rider
Can be added to our final expense insurance product to provide coverage for all grandchildren and great-grandchildren, as well as natural, legally-adopted children and stepchildren of the insured, who are at least 30 days old and less than 17 years old at the time of issue. Newly-eligible children, grandchildren, and great-grandchildren may also be added after the rider is issued. The guaranteed premium remains the same until the rider expires or is terminated.
Available with: Final Expense whole life insurance
Value-Added Benefit Rider
This rider provides you access to services, mobile applications, online subscriptions, tools and other programs designed to help you manage your health, wellness, financial or life insurance needs. The types of benefits and programs offered in this rider are determined by SBLI and are subject to change.
Available with: Final Expense whole life insurance
¹There is no premium charge for the rider. However, a fee not to exceed $150 may be assessed upon death benefit acceleration.
²This rider is not available for all types of SBLI Whole Life Insurance.
Not all riders are available for all products. An Accelerated Death Benefit rider is included automatically at no premium charge. Other riders are available at an additional cost. Policy form series BC-40.1, BN-7L, BN-8, BN-9, BN-50, BN-56, and 14-WOPR.