What does a guaranteed insurability rider cover?

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Guaranteed insurability rider

Do you worry about what will happen to your family in the event you suddenly pass away? Have you thought about buying life insurance or adding benefits to your existing policy? Although it’s a tough conversation to have, ensuring your family is protected is critical.  

A guaranteed insurability rider allows the life insurance policyholder in some cases to increase the death benefits of their life insurance policy without having to sit for an additional medical exam, although there may still be age limits for changes as well as other restrictions. Let’s take a closer look! 

How does a guaranteed insurability rider work?

A guaranteed insurability rider works like other insurance riders: it is a clause in your insurance contract that gives you additional options that can be exercised at pre-set option dates. 

This varies based on your insurance company and the specific policy you take out. You do not have to add death benefits at the option date, or you might be able to add less than the specified amount. The idea of the guaranteed insurability rider is that you have the option, unless you are at the maximum age to take advantage, and will know when in the future the option will be available again.

How long does a guaranteed insurability rider last?

A guaranteed insurability rider lasts for the duration of the life insurance policy. Some policies will also allow you to add the GI rider after major life events when death benefits become more important, such as after marriage or the birth of a child. 

Does a guaranteed insurability rider change my insurance premium?

How the guaranteed insurability rider will change your insurance premiums will vary by insurance company and policy. 

What if I develop a health problem?

The guaranteed insurability rider is exactly why you don’t have to worry as much about life insurance or death benefits if you develop a health problem. The GI rider does not require a medical exam under circumstances detailed in the policy, so you are free to increase the death benefit or life insurance at the designated dates, even if you develop a health problem. 

What should I look at when comparing guaranteed insurability rider coverage?

When comparing guaranteed insurability rider coverage, you will want to speak to your insurance provider and ask questions about coverage, options, and flexibility to add death benefits, cost, and restrictions.


Not all guaranteed insurability riders offer the same coverage options. Some have an upper limit of additional death benefits, such as $10,000, while others allow flexible death benefits. Choose the coverage that will meet your family’s current and future needs.  


Guaranteed insurability riders include different restrictions on when you can add benefits. It is a good idea to speak to a professional and to research more than one company’s offerings. A guaranteed insurability rider that has fewer restrictions about when you exercise the options, especially in older age, can be a deciding factor for your family. 

How to get a guaranteed insurability rider

To get a guaranteed insurability rider, it is worthwhile to find an insurance broker to help you better understand life insurance policies. Consider not only the guaranteed insurability rider, but the other coverage, restrictions, flexibility, and cost.

Why you should consider getting guaranteed insurability coverage

Guaranteed insurability coverage protects your family from the unknowns of the future. If several of your relatives suffer from chronic illness, a guaranteed insurability rider is one way to address future health challenges while providing for your family.

Guaranteed insurability rider as part of your financial outlook

There are a few financial systems you can put into place that will protect your family in case the worst happens. A guaranteed insurability rider is one part of helping to make your family more secure.

Other steps you can consider include creating a professionally managed MoneyLion investment account — with fees of $1, $3 or $5 a month, depending on how much you invest — to help grow your financial future. However, the perks don’t stop there! Our financial tools include modern mobile banking, 0% APR cash advances with InstacashSM when you link to an account that receives a qualified recurring direct deposit, Credit Builder Plus, and much more.

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