Cost-of-living Rider
Definition of "Cost-of-living rider"
Usually term insurance for one year added to a basic life insurance policy. In effect, this increases or decreases the face amount of the basic policy to reflect cost-of-living changes as measured by the Consumer Price Index (CPI). This rider can also be used in conjunction with a disability income policy in which the income benefit is adjusted to reflect fluctuations in the CPI.
Popular Insurance Terms
Distribution of a deceased beneficiary's share of an estate among that beneficiary's children. Contrast with per capita. ...
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Option clause in a disability buy-out insurance policy that permits the owner of the policy to increase the limits of coverage for the expenses associated with the buy-out process. Usually, ...
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Clause in an insurance policy stipulating that the benefits under the policy will accrue to the right of the insured. For example, if the insured leaves a violin at a repair shop and that ...
Interest earned on dividends from a participating life insurance policy left on deposit with the insurance company and subject to taxation. ...
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Compensation payable to the owner of a ship detained for reasons beyond his or her control who incurs a loss of earnings because of the delay. Detainment can be caused by a delay in the ...
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