What does a Term Rider provide in relation to an existing insurance policy?

A Term Rider adds temporary additional insurance protection to an existing insurance policy. This rider allows policyholders to enhance their coverage for a specific period, ensuring that they have additional financial security during times when they may need it most, such as during a child's upbringing or while paying off a mortgage.

The primary purpose of a Term Rider is to provide extra life insurance benefits for a limited time, commonly used to cover specific needs that are not intended to last indefinitely. Since it is temporary, it complements the existing policy rather than replacing its benefits. This is particularly important for individuals looking for affordable options to increase their coverage without committing to a permanent policy.

In contrast, other options describe features that do not pertain to a Term Rider: lifetime coverage at a fixed premium invests in a more permanent form of insurance, while full cash value refers to the actual cash value a policyholder can access, and permanent coverage encompasses benefits that last for the policyholder's lifetime.