Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Feb 22, 2021

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The Facts of Life

  • Insurance policies are often sold with additional options called riders
  • The guaranteed insurability rider allows the insured to increase the amount of their death benefit on a recurring basis by purchasing more insurance coverage without having to go through an additional medical exam
  • This rider is useful if you have an illness that will likely get worse over time

A guaranteed insurability rider gives consumers the option to purchase more life insurance coverage on a regular, recurring basis without having to submit to an additional medical exam.

Riders are offered by the best life insurance companies as a way for consumers to customize their life insurance coverage and get the policy that best suits their needs.

It is important to note that not all riders will be available with every type of life insurance policy. For example, guaranteed insurability riders are generally only applied to whole life insurance policies and not term life insurance policies.

Are you ready to learn more about guaranteed insurability riders and compare life insurance rates near you? Enter your ZIP code above to compare life insurance quotes with a guaranteed insurability rider.

How does a guaranteed insurability rider work?

A guaranteed insurability rider allows the insured individual to buy additional life insurance coverage or increase their death benefit on a recurring basis. Generally, insurance companies will set a minimum and maximum amount that the benefit can or must increase by.

This type of life insurance rider is typically sold on whole life insurance policies and not on term life insurance policies because whole life policies last for the duration of a life. As a result, whole life insurance policies are typically more expensive than term life insurance policies.

Average Annual Rates of Whole Life Insurance vs. Term Life Insurance by Age and Gender
Age and Gender of the InsuredWhole Life Average Annual Rates20-Year Term Life Average Annual Rates
Male, Age 30$4,015$228
Female, Age 30$3,558$193
Male, Age 40$6,042$341
Female, Age 40$5,413$289
Male, Age 50$9,432$842
Female, Age 50$8,440$654
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However, the guaranteed insurability rider is often very inexpensive to add to a whole life insurance policy. Typically, this rider will cost an additional three to five dollars a month, depending on the insurer.

It is important to note that when you increase the death benefit of your policy, your premiums also go up too. The main advantage of this rider is that you won’t have to get approved for more coverage through a medical exam.

If you’re interested in seeing more detailed information about this type of rider, the S.E.C. has a helpful resource.

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When does a guaranteed insurability rider allow the insured to buy additional coverage?

This will vary based on your insurance provider, but most insurance companies allow you to increase your death benefit on the anniversary of your policy every three to five years.

If you have a life-changing event, like getting married or having a child, insurers will generally give you up to 90 days to increase your death benefit as well.

Who benefits the most from a guaranteed insurability rider?

People who have a disease that they think will get worse over time or a family history of disease will be the most likely to benefit from this rider. However, anyone can benefit from having this rider as part of their life insurance coverage.

If you’re ready to compare life insurance rates with a guaranteed insurability rider, enter your ZIP code below.