Life Insurance Rider
Standalone life insurance policies are designed to help cover expenses, like replacing lost income, if you pass away. A child rider can be added to your policy to provide a death benefit if your child passes away while your coverage is in force. Should your child pass, a child rider can help cover the costs of funeral expenses. It can also provide a financial cushion so you can take time off from work. This time off gives you a grieving period as well as an opportunity to care for the rest of your family.
A child rider works like a supplemental policy that can be added to your Fidelity Life insurance policy. It provides a benefit ranging from $5,000-$25,000 if one of your children were to pass away while your policy is in force. The rider covers birth children, adopted children and stepchildren equally between the ages of 15 days through 18 years old. Your coverage on each child will end either on their 23rd birthday or when your policy ends, whichever comes first.
Adding a child rider to your life insurance policy can offer important protection in case of a loss now, while also providing a possible financial resource for your child later on in life.
As a parent, you do everything you can to protect your family at every step. Yet the unexpected can happen at any time. If a tragedy struck your family and your child died, a child rider for life insurance could give you the freedom to focus on your family’s needs during an incredibly difficult time, without worrying about the financial challenges that can come with death.
While your child doesn’t likely contribute to the family’s income, their sudden loss can still stretch your family’s finances significantly. The payout from a child rider comes with no strings attached, so your family can use it however you need.
Beyond these financial benefits, child riders also provide a financial tool that your child can bank on later in life. With Fidelity Life, your child can convert this rider into their own permanent life insurance policy either when the original policy expires or when they turn 23, whichever happens earlier. This can be an affordable way to help your child to start building financial stability long before they’re out on their own.
Adding a children’s rider to life insurance can offer benefits to your family and your child that extend well beyond their childhood. Consider the most common benefits of a child life insurance rider:
Before you purchase a child rider, think about your overall goals in buying life insurance. Life insurance is meant to provide financial protection for your loved ones if something happens to you. Your primary goal should be to find a plan that helps protect against the financial burden of your own death. Remember that, in many cases, you’ll purchase a life insurance policy to help cover your children’s financial needs if you pass away.
Once you’ve focused on your own financial security, weigh the pros and cons of purchasing additional coverage for your child. The primary concern for many people is the child rider life insurance cost. Since riders are extra features added to your policy, they can mean higher premium payments. Ask your agent about the cost of a child rider to determine if it makes sense to you financially.
As long as you have the resources to pay for it, a child rider can be a smart financial decision. It’s also often less expensive than buying a standalone child’s insurance policy, while still providing substantial coverage. With Fidelity Life, you can purchase up to $25,000 in coverage through a child rider. For many people, that money can make a big difference in covering end-of-life needs.
If you’re considering a child rider, take a few minutes to discuss your options with your life insurance agent. They can help you weigh the benefits and costs so you can make the best choice based on your family’s situation.
A child rider can be added to our RAPIDecision® Life policy. Child riders can be added when you purchase your policy or added later. Please note that child riders may not be available in all states.
The rider provides a conversion option for each eligible child. This means you can convert the rider to a permanent plan offered by Fidelity Life for up to five times the term insurance benefit for this rider. The conversion must occur within 30 days of the earlier of each child’s 23rd birthday, or the expiration of this rider, if sooner.
Even if your child ends up having a serious medical issue, you could protect his or her insurability by insuring them with a child rider (from the time they are 15 days old), then converting the rider into their own policy.
You can add additional riders to your term life insurance policy to expand your benefits.
Fidelity Life is committed to helping you find the right life insurance. For more than 100 years, we’ve been helping everyday people like you get the life insurance you need and the peace of mind you deserve. Our mission is to work with you throughout your life. Whether just starting out, raising your children, or getting ready to enjoy retirement, we design products with families like yours in mind.
You can feel confident we’ll be there for your loved ones because we carry an A+ rating from the Better Business Bureau as well as an A- rating (Excellent) from A.M. Best Company, the oldest and most widely recognized provider of ratings for the insurance industry.
Our commitment to our customers, and their families, shows up in our innovative products and our top-notch customer service.
If you want to speak to an agent about attaching a family accidental death benefit rider to your existing Fidelity Life Accidental Death Benefit policy, please call our Customer Service Representatives Monday thru Friday at 800.369.3990 from 8 a.m. to 5 p.m. Central Time CT.
Get your application started online.
Tell us about yourself, and we’ll match you to available life insurance policies that meet your needs and work with your budget.
Select the life insurance policy that works best for you. We’ve made it fast and easy to get a quote online or to connect with one of our agents.
Check getting life insurance off your to-do list. We’ll walk you through the application and purchasing process. Coverage often starts the same day.
Get your life insurance quote online or call one of our agents at
