What is a term rider?


Our Term Rider allows you to customize your life insurance in a cost-effective way by providing additional coverage for a specified number of years to match your financial responsibilities. That means if you have short to medium-term life insurance needs – for example, a child’s college tuition– you can get the coverage you need for a temporary period. Term Riders  can help you purchase the right amount of protection for the right length of time.


How Term Riders work 

Legal & General America’s Term Riders  can be stacked on top of your base term policy for 10, 15 or 20 years. Sure, your standalone term insurance policy can offer fantastic coverage – especially if you’re on a budget – but everyone’s circumstances are different, and term insurance is not a one-size-fits-all solution. While term life insurance is available in 10 to 40-year periods, a Term Rider offers affordable customizable coverage which can help during specific times in your life. If, for instance, you wanted to cover a 20-year mortgage, you might select a 20-year rider, whereas you might only need 10 years of additional coverage following a short-term lifestyle change, such as a pay increase following a promotion. This means you can get the right amount of protection for the right length of time up. 

Do I need a Term Rider?

Here are some of the best reasons to add a Term Rider to your life insurance policy: 
  • Save money – our Term Riders come with no additional policy fees, unlike most carriers. Paying multiple policy fees can really add up, but riders can lighten the load on your wallet.
  • Simplicity – one easy payment with consolidated billing.
  • Flexible options – you can add one to three Term Riders to your base policy in durations of 10, 15 or 20 years. Get the right amount of cover for the timespan you need.
  • Automatic expiry – when your rider coverage ends, your premiums are automatically reduced as the rider is withdrawn.
  • Convertible – you can switch to a Universal Life policy while your rider is active. Your coverage can reflect your changing financial responsibilities and lifestyle.
Of course, if you’re looking for something different, there are other types of riders to consider. In the event of a terminal illness, an Accelerated Death Benefit Rider means the insured person will receive their death benefit before they pass away. Also, families can get a Children’s Rider, which provides life insurance for a child up to their 25th birthday, or if it occurs sooner, the insured’s 65th birthday.

Can I remove a Term Rider from my policy?

With Legal & General America, a Term Rider can be removed before it expires, but you won’t be able to reinstate the rider once the decision has been made. If you want to convert your policy so that your coverage lasts longer, you can benefit from our conversion period which, depending on which rider you’ve added, lasts 10, 15 or 20 years.

How to add a Term Rider to your life insurance 

Term Riders can only be added when you take out your life insurance policy. Call us or find an agent near you who can advise on how to customize your coverage through adding a rider. 
No one can predict the future, but as life goes on, Legal & General America’s Term Riders offer comprehensive coverage to suit your family’s changing needs.