What is the primary benefit of a guaranteed insurability rider?

The primary benefit of a guaranteed insurability rider is that it allows policyholders to purchase additional coverage at specified times without having to provide medical evidence or undergo a medical examination. This feature is particularly advantageous as it ensures that individuals can increase their life insurance coverage when their health status might change or when they may have difficulty qualifying for additional insurance due to medical conditions. This rider typically comes into play during specific life events, such as the birth of a child or marriage, where the need for increased coverage may arise.

The other options do not accurately describe the primary function of this rider. While lower premiums, benefits for accidental death, and pet coverage may be features associated with various insurance products, they do not reflect the critical purpose served by the guaranteed insurability rider in giving insured individuals flexible options to increase their coverage without health-related barriers.