What is ‘Family Income Rider’
An addition to a life insurance policy that provides the beneficiary with an amount of money equal to the policyholder’s monthly income if the policyholder dies. A family income rider is a type of death benefit, and specifies the term for the additional coverage. It eventually expires if it is not enacted.
Explaining ‘Family Income Rider’
In some cases, the beneficiary may choose a lump sum rather than receiving monthly payments. Younger wage-earners will typically choose a longer length of time for coverage because they have more working years left before retirement, and would therefore cause a larger financial hardship to their families if they died.
Further Reading
- School finance reform and voluntary fiscal federalism – www.sciencedirect.com [PDF]
- Income distributional effects of urban transit subsidies – www.jstor.org [PDF]
- Demand for public transport in Germany and the USA: an analysis of rider characteristics – www.tandfonline.com [PDF]
- Financial issues associated with having a child with autism – link.springer.com [PDF]
- Parent driver characteristics associated with sub-optimal restraint of child passengers – www.tandfonline.com [PDF]
- A Documentation of the Philippines' Family Income and Expenditure Survey – www.econstor.eu [PDF]
- Environmental awareness and attitudes of student teachers: An empirical research – www.tandfonline.com [PDF]
