Principal Disability Rider Benefits
Riders attached to disability income policies can greatly expand the policy coverage. Social Insurance Benefit riders can be added to increase the overall coverage while still enabling the insurer to avoid the problems associated with overinsurance in the event Social Security benefits are payable. Available as supplements and substitutes, Social Insurance Benefits also permit policyowners to reduce the premiums for needed coverage.
Purchase Option and COLA riders both help to overcome the tendency of benefits to become less significant over time. The Purchase Option Rider enables an insured to purchase additional coverage while COLA riders increase benefits while on disability. Return of Premium riders offer disability income policyowners the opportunity to recover some or all of their disability income policy premiums.