What is the purpose of a "family rider" in life insurance?

The purpose of a "family rider" in life insurance is to provide coverage for multiple family members under a single life insurance policy. This is beneficial because it allows a primary insured person, typically the policyholder, to include their spouse, children, or other dependents without the need to purchase individual policies for each member. This convenience not only simplifies the insurance process but can also be more cost-effective, ensuring that all family members have some level of coverage under one policy.

This rider often allows for flexibility in coverage amounts and terms, which can adapt to changes in family composition over time. By including a family rider, families can maintain an overarching insurance strategy that provides peace of mind knowing that their loved ones are protected.