Family Income Rider

Definition

  • A rider purchased as part of a life insurance policy that provides a recurring or lump sum death benefit equal to the deceased's monthly income.

Synonyms
pay, benefit, provision, compensation, revenue, cash

Related Terms and Acronyms

  • Accidental Death Benefit (ADB) Acronym, Very Important,
    • An additional benefit that pays an additional sum to a beneficiary if the cause of death is deemed to be accidental.
    A life insurance policy rider.
  • Beneficiary Definition,
    • An individual or entity chosen to receive benefits from a will, trust, deed or insurance policy.
  • Benefit Period Definition,
    • The total period of time where an insurer is contractually obligated to pay benefits.
  • Death Benefit (DB) Acronym, Very Important,
    • A payment or series of payments made to the beneficiaries of a life insurance policy.
    An amount paid to a beneficiary in a life linsurance policy.
  • Group Life Insurance Definition,
    • Life insurance offered to a large number of people belonging to an organization, usually as part of a benefit package.
  • Human Life Approach Definition,
    • A method of estimating what the probable lifetime financial impact a life insurance policyholder's death would have on his or her beneficiaries.
  • Life Insurance Definition, Very Important,
    • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
    CanEquity offers life insurance.
  • Needs Approach Definition,
    • A way of determining how much life insurance an individual should purchase by examining the future obligations and needs of the beneficiaries.
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