Do you have enough insurance? Most Canadians would like to think so – but in our recent social media poll, only 34.8% of respondents were confident with their coverage. Life insurance is like an airbag – you really hope you won’t ever have to use it other than to provide peace of mind to your loved ones. But unplanned disability or illness can derail even the best laid plans.
Disability and critical insurance can seem complicated – not only must you choose the right level of coverage, but you also have the option of adding an insurance rider to your policy; as with home insurance, many life insurance policies come with riders. But what exactly is an insurance rider, and how do they work? And what should policy holders be aware of when adding one to their coverage?