What are these riders on my policy?

You may have noticed there’s additional riders attached to your policy. These riders are attached to your policy simply because they are free of charge. You do not pay anything for these riders. And they are largely beneficial to you, as the insured person on the policy.

One of the riders on your policy is called the Chronic Illness Rider. 

This rider means that if you (the insured) cannot perform two of the six daily activities of living, the insurance company will start paying out the death benefit early to help you pay for the cost of medical expenses, assisted living, or a nursing facility you may have to go to. 

Do not confuse this Chronic Illness Rider with Long Term Care. This is simply a free rider, included with your Whole Life Insurance Policy that, if needed in the future, could help you tremendously. Long Term Care is an entirely different type of policy separate from Infinite Banking policies.

Another of these free riders we attach onto your policy is called the Terminal Illness Rider. 

This means that if you have less than 12 months to live, again, the insurance company will start paying out your death benefit early to help you cover the cost of those medical expenses. 

Now, on some contracts with certain insurance companies, both of these riders are combined together and called the Accelerated Death Benefit Rider (ADBR). So if you see this term on your policy, you have both the Chronic Illness Rider and the Terminal Illness Rider.

When you’re ready to get started on creating your financial legacy or if you have more questions, most questions can be answered by watching this video. Start there and then schedule a consult with my team when you’re ready to begin.