Riders are any additions to the basic policy that alter it with additional benefits. A Guaranteed Insurability Rider gives the policy owner the right to buy more coverage at specific times or intervals stated in the rider. For example, these intervals might be based on age, time, or policy year renewals.
If you become sick or your life circumstances change in such a way that you become a higher risk, your insurability suffers. You might normally not be able to renew your life insurance policy at all. The Guaranteed Insurability Rider is your "guarantee" that you'll have a chance to extend your coverage without having to give any more evidence that you're insurable. For most policyholders most of the time, it wouldn't be a problem. But if something happens that would otherwise make you a higher risk and therefore uninsurable, you'll be very grateful for having the option to continue your coverage. Even without proof of insurability for life insurance, you can't be cut off.
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