COMPETING RIDERS
Perhaps you want an income rider on your life insurance policy that provides a guaranteed income stream you can turn on later (e.g., at retirement). You may also want an accelerated benefit rider that lets you collect a lump sum if you’re seriously injured or develop a serious medical condition.
Heads up. Dr. Sterling Jack, president of Colwyn Investments in South Jordan, Utah, has seen cases where the accelerated benefit was voided when the insured person activated the income stream but continued paying for the competing rider. Steer clear of coverages that vie for supremacy.
