A child rider can offer affordable protection for your children now, while helping them plan for their own financial future later.
What Is a Child Rider?
A child rider is a type of life insurance rider, or an optional feature you can add to a new or existing term life or permanent life insurance policy. This rider adds life insurance for your children to your current policy, covers them until they become adults, and in most cases, allows them to convert to a policy of their own later.
If the worst happens, a child rider pays out a small death benefit if a covered child passes away. It’s an affordable way to get financial protection, so you can focus on spending time with your family.
How Does Child Rider Life Insurance Work?
You can add a child rider to your policy for biological children, stepchildren, or adopted children who are under 18. If your family grows during the life of your policy, those children can also be covered.
In the case of a death, the rider provides a lump sum cash payment that can help cover final expenses, funeral costs, or fill an income gap if you need to take time off work.
Unlike children’s life insurance, which is a separate policy, child riders cover all current and future children, often until they turn 26. If your children are grown and the policy is about to expire, they can often convert the insurance rider into separate individual policies without having to get approved for life insurance again.
Child Rider Life Insurance Through eFinancial
At eFinancial, we’re committed to helping families across the country get the life insurance coverage they need. We work with more than 20 top life insurance companies to give you a range of child term rider products. Our team of licensed agents can offer personalized guidance and guide you through the approval process.
If you want a backup plan for your family’s financial security, eFinancial is here to help.