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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
March/April 2020
Taking a Ride with Life
Do you know that life insurance offers a variety of options depending on the type of policy, just like when you’re buying a new car? As in a new car, these options, known as “riders” in insurance-speak, can make all the difference. Take a look at the following riders* (in alphabetical order) and talk to your insurance professional to see if any fit with your insurance needs:
Accelerated Death Benefit Rider
If the insured person has a terminal illness, that person may receive a portion of the benefit while alive to pay medical expenses.Accidental Death Benefit Rider
This rider pays an additional amount of typically up to two times the death benefit in the event of an accidental death.Cost of Living Rider
Some whole life insurance policies allow you to increase your coverage by the same percentage the government’s Consumer Price Index increases.Guaranteed Insurability Rider
This rider guarantees that you can renew your policy regardless of health. Some policies even allow benefit increases at certain birthdays without medical underwriting.Long-Term Care Rider
Like the Accelerated Death Benefit Rider, this rider allows you to take early benefits to pay for long-term care.Paid-Up Additions Rider
This rider uses whole life dividends to increase the policy’s cash value and death benefit.Return of Premium Rider
A few term life insurance policies offer this rider, which returns some or all of the premium at the end of the agreed-upon term.Term Conversion Rider
This rider can be an important one for younger policy holders who buy term insurance because of its affordability,but intend to convert to whole life insurance down the line. The rider guarantees a coverage without medical underwriting.
Waiver of Premium Rider
If you become disabled and can no longer work, this rider will waive your premium payments.* Applications for life insurance are subject to underwriting. No insurance coverage exists unless a policy is issued and the required premium to put it in force is paid. Riders may incur an additional premium. Rider benefits may not be available in all states. Guarantees are based on the payment of required premiums and the claims paying ability of the issuer. Riders that pay benefits for events other than death will likely reduce the policy’s death benefit and cash value.
GE-2763334(10/19)(exp.10/21)
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Securities offered through Equitable Advisors, LLC (NY,NY (212) 314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN). Investment advisory products and services offered through Equitable Advisors, LLC, an SEC-registered investment advisor. Annuity and insurance products offered through Equitable Network, LLC, which conducts business in California as Equitable Network Insurance Agency of California, LLC; in Utah as Equitable Network Insurance Agency of Utah, LLC; and in PR as Equitable Network of Puerto Rico, Inc. Equitable Advisors and Equitable Network are affiliated companies and do not provide tax or legal advice.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. Equitable Advisors and Equitable Network are brand names for Equitable Advisors, LLC and Equitable Network, LLC, respectively.
GE-4833845.1 (7/22)(Exp. 7/24)
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