Policy Types

The Guaranteed Insurability Rider: Ensuring Coverage For The Future

Life insurance policies usually afford you the opportunity to add a rider to boost coverage at a later date. The guaranteed insurability rider allows you to purchase additional coverage. Learn more about it.

The Guaranteed Insurability Rider

When you apply for life insurance, you'll likely be required to answer a series of health questions. Depending on the amount of the death benefit, you may also have to undergo a medical exam. Your age, health, and the amount of coverage all play a role in how a life insurance company rates your overall insurability. But what happens if in the future you find that you need more coverage? Sure, you can always apply for additional coverage later, but what if by then your health has significantly changed? Unfortunately, people generally don't get healthier as they age. If you wait to apply for additional coverage in the future, your rating may not be as favorable and you could very well end up paying higher premiums.

The guaranteed insurability rider

The guaranteed insurability (GI) rider is available on certain life insurance policies and allows you to purchase additional insurance at specific dates in the future (subject to minimums and maximums) without having to go through an exam or answer health questions. In other words, you can buy more life insurance without having to prove your insurability. As with all life insurance policy riders it comes with an additional cost. However, the benefits can outweigh the extra expense. (It's important to note that the guaranteed insurability rider is different from a guaranteed issue life insurance policy that is intended for seriously ill people and comes with a very high premium.)

The typical GI rider works by allowing you the option of purchasing additional coverage every three or five years on the anniversary date of your original policy. Many policies will also allow you to exercise your option due to certain life events, such as a marriage or birth/adoption of a child. Generally, you must exercise the right within 30 or 90 days of the specified date, so it's important to review your policy and know your option dates.

The GI rider can be a worthwhile to have included in your life insurance quote if you think your health may change significantly in the future, or if you have a family history of medical issues. It's also beneficial if you have a limited budget, but want to ensure that you'll have the option for purchasing additional coverage later on.

If you'd like to learn more about the many different types of life insurance policy riders, visit the Protective Learning Center.

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Guaranteed Insurability Rider and Life Insurance

When you buy a life insurance policy, you'll generally have options for adding certain policy riders to enhance your coverage. This article looks at the guaranteed insurability rider (GI) that allows you to buy additional life insurance at a later date in the future without having to undergo a medical exam. For more information, visit the Protective Life Learning Center.


All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax-related decisions. For information about Protective Life and its products and services, visit www.protective.com.

Companies and organizations linked from Learning Center articles have no affiliation with Protective Life or its subsidiaries.

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