Family Income Rider


Definition of "Family income rider"

Tamara Schofield real estate agent
Tamara Schofield, Real Estate Agent Realty ONE Group NEST

Attachment of decreasing term life insurance to an ordinary life policy to provide monthly income to a beneficiary if death occurs during a specified period. If the insured dies after the specified period, only the face value is paid to the beneficiary since the decreasing term insurance has expired.

 

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