What does Disability Income Rider mean? Read on to discover the definition & meaning of the term Disability Income Rider - to help you better understand the language used in insurance policies.
Disability Income Rider
A disability income rider is an optional add-on to a life insurance policy that allows the insured to stop paying premiums in the event they become disabled for at least six months. Depending on the particular rider, the policyholder may also receive monthly income payments at a rate of 1 percent of the full value of the policy.
We hope the you have a better understanding of the meaning of Disability Income Rider.