Future Purchase Option Rider
A future purchase option rider (also known as a future increase option rider) permits the insured to increase his or her total monthly benefits on specific option dates, which usually occur on an annual basis. In order to obtain the increase, you typically will have to pay an increased premium and provide proof that your earned income is sufficient to justify the increase in benefits. However, this type of rider generally provides that the insured is entitled to the increase regardless of his or her health. This is significant because it means that the increases will not be subject to any additional exclusions, whereas you may have medical conditions that would normally be excluded from coverage if you were to apply for a brand new policy.
Click here for more information about how these riders work to protect your growing income.