When can the Guaranteed Insurability Rider provide additional coverage?

The Guaranteed Insurability Rider allows policyholders to purchase additional life insurance coverage without having to provide evidence of insurability during certain specified times. Typically, these specified times are aligned with significant life events, such as marriage, the birth of a child, or reaching certain milestones like specific birthdays. This rider is particularly beneficial because it enables individuals to increase their coverage in response to changing personal circumstances without having to undergo the potentially strenuous process of medical underwriting, which can be a barrier for many people.

This option captures the essence of the rider's purpose: to provide flexibility and convenience in increasing life insurance coverage at pivotal moments in one's life. The other options do not accurately reflect the standard provisions associated with the Guaranteed Insurability Rider. For instance, the policyholder’s discretion is not a triggering factor; rather, eligibility is bound by specific life events or designated ages as determined at the policy's inception.